Pune, India -- (SBWIRE) -- 02/22/2018 -- Synopsis of Magnesium Sulphate Market

Magnesium Sulphate is a chemical compound which is a mixture of magnesium, oxygen,and sulphur. Magnesium sulphate often faced as sulphate mineral & epsomite which are commonly known as Epsom Salt. Applications of magnesium sulpjhate have spreaded across many industries such as healthcare, agriculture, pharmaceuticals, food additives and other industries as well. In medical, it is used both i.e. internally as well as externally. Global Magnesium Sulphate Market has very wide market in 21st century and it has been valued as $ 10,731.05 million by 2027 with a CAGR of 4.28%.

MRFR analyst has projected that healthcare sector in India is expected to grow around $285 billion by the year 2020 which implies more demand for medicine. Another driver for magnesium sulphate market is revolution in agriculture. As new technologies are coming in field of farming, demand for magnesium sulphate is increasing. As new processes are coming out from R&D department of companies about the use of magnesium sulphate demand for magnesium sulphate market is increasing and will keep increasing. On the contrary, allergic reactions such as skin infection, diarrhoea or upset stomach could hamper the growth of the market.

Regional Analysis Magnesium Sulphate Market

Asia-Pacific region covers of more than 60% to 65% of the world's population and is anticipated to increase in coming years, due to which the country would be facing issues of food sufficiency in the coming time. This would directly resulted in increasing and generating the need of food production. Use of magnesium sulphate in agriculture sector has proven to be an effective way to increase food productivity.

The magnesium sulfate worldwide is most extreme requested in APAC nations, because of land fragmentation, people/ farmers are left with little land property. The needs to get greatest yield from the accessible area assets has produced and will promote create the need of magnesium sulfate utlilization in farms. Followed by this, North America and European region holds the second and third position in terms of value and volume.

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Competitive landscape: Magnesium Sulfate

In the market, the overall effect of degree of competition among the key industry players is moderate. However, the level of competition is increasing gradually due to developing technology for agricultural solutions. This has forced the market players to come up with innovative product differentiation. Over the past seven years, the global market is lacking the presence of Tier 1 enterprises and it consists of a large number of mid-scale manufacturers of magnesium sulfate. Over the forecast period, the global market is likely to witness the entry of relatively bigger industrial players due to the growth offered by this market. Key listed players in this market are K+S Group, PQ Corporation, UMAI Chemical CO. LTD., Giles Chemicals, Morton Salts, and others.

In order to expand the growth of this market, some collective efforts are taken earlier this year. For instance, acquisition of Huludao Magpower Fertilizers Co. by K+S group regarding the fertilizer activities in China. K+S group acquired Huludao Magpower Fertilizers Co. pertaining to fertilizer activities in China. The acquisition will further expand their specialty chemical business at its production site in China. Manpower is one of the foremost producers of synthetic magnesium sulfate, which is using fertilizer for oil palms, soybeans and sugar cane specifically for the industrial application. The plant is operated at a current capacity of 90,000 tons and it will be upgraded to 180,000 tones as proposed in acquisition. Moreover, the acquisition is likely to influence the K+S group's magnesium growth in the coming years. This acquisition is considered as one of the biggest developments in this market and has set the trend for the further growth activities in the coming years.

According to Market Research Future analysis, the Global Magnesium Sulfate Market is moving towards growth expansion phase and is fragmented in nature. Since none of the market players is holding control of Magnesium Sulfate Industry, the markets offer an enormous opportunity to new players to penetrate in this market. Furthermore, low entry barriers in this market are broadening the opportunities, specifically, for cosmetic industry players to invest in this industry. Since the magnesium sulfate is being used in a range of cosmetic application, it is expected to influence the market attraction of the cosmetic industry leader such as L'Oreal, Jhonson & Jhonson, Procter & Gamble, and Unilever. As per the industry experts, this altogether anticipated to increase the investment in the research and development by the cosmetic industry leader to innovate new product formulation and further resulting in collective strategic alliances.

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