The Latest Magnesium Sulfate Industry Statistics Explained
The global magnesium sulfate market size was valued at USD 801.3 million in 2019,
The statistic denotes that the total market value of magnesium sulfate worldwide reached USD 801.3 million in the year 2019. This figure represents the revenue generated from the sales of magnesium sulfate products, such as agricultural-grade, food-grade, and pharmaceutical-grade magnesium sulfate compounds. It provides insights into the overall economic significance and scale of the magnesium sulfate industry on a global level during the specified year. The market size serves as a crucial indicator of the demand for magnesium sulfate-based products across various industries, including agriculture, healthcare, and food production, highlighting the material’s widespread utility and commercial importance in the global market.
The demand for magnesium sulfate in the U.S was 287.8 kilotons in 2019,
The statistic “The demand for magnesium sulfate in the U.S was 287.8 kilotons in 2019” represents the total quantity of magnesium sulfate requested by various industries, agriculture, and other sectors within the United States in the year 2019. This figure of 287.8 kilotons signifies the scale of utilization of magnesium sulfate, which is a compound commonly used in fertilizers, pharmaceuticals, and industrial processes. By specifying this metric, it provides insights into the market demand for magnesium sulfate, reflecting its importance and widespread application across different sectors of the U.S. economy during the specified year.
The global magnesium sulfate market is expected to grow at a CAGR of 4.7% from 2020 to 2027,
This statistic indicates that the global magnesium sulfate market is projected to experience a Compound Annual Growth Rate (CAGR) of 4.7% between the years 2020 and 2027. CAGR is a measure used to assess the annualized growth rate of an investment over a specified time period, in this case, the magnesium sulfate market. A CAGR of 4.7% suggests consistent and steady growth in the market value of magnesium sulfate products over the forecasted period. This growth rate reflects potential increases in demand, production, and consumption of magnesium sulfate across various industries such as healthcare, agriculture, and industrial applications. Overall, the statistic implies optimism for the market’s expansion and suggests potential opportunities for investors, manufacturers, and other stakeholders in the magnesium sulfate industry.
By end-use, fertilizers segment accounted for a 57.4% share in the global magnesium sulfate market in 2020,
This statistic indicates that in 2020, the fertilizers segment held the largest market share within the global magnesium sulfate market, accounting for 57.4% of the total market. This suggests that a significant portion of magnesium sulfate production and consumption was attributed to its use in fertilizers during that year. The high market share of the fertilizers segment implies a strong demand for magnesium sulfate in agricultural applications, where it is commonly used to provide essential nutrients to plants, improve soil quality, and promote crop growth. This statistic highlights the importance of the fertilizers sector in driving the overall market for magnesium sulfate and underscores the significance of the agricultural industry as a major consumer of this compound.
Magnesium sulfate demand in fertilizers is expected to grow at a CAGR of 5.1% from 2020 to 2027,
This statistic indicates that the demand for magnesium sulfate in fertilizers is projected to increase at a compound annual growth rate (CAGR) of 5.1% over the period from 2020 to 2027. The CAGR is a measure used to represent the year-over-year growth rate of an investment or a business metric. In this context, the expected CAGR of 5.1% implies a consistent and steady growth in the demand for magnesium sulfate within the fertilizer industry during the specified time frame. This prediction suggests that there is a growing trend towards the use of magnesium sulfate in fertilizers, which may be driven by factors such as agricultural practices, soil health awareness, and increasing global food demand.
The Asia Pacific region dominated the magnesium sulfate market with a share of 49.6% in 2019,
The statistic “The Asia Pacific region dominated the magnesium sulfate market with a share of 49.6% in 2019” indicates that the Asia Pacific region accounted for almost half of the global magnesium sulfate market in that year. This suggests that a significant portion of magnesium sulfate production, consumption, or both occurred in countries within the Asia Pacific region. The dominance of the Asia Pacific region in the market implies that factors such as production capacity, demand, manufacturing capabilities, and economic conditions in that region significantly impact the global magnesium sulfate industry. This statistic highlights the influence and importance of the Asia Pacific region in the magnesium sulfate market landscape in 2019.
In 2019, China produced 7 million tons of magnesium sulfate, being the leader in its production,
The statistic stating that China produced 7 million tons of magnesium sulfate in 2019 positions China as the leading producer of this substance globally. This demonstrates China’s significant contribution to the magnesium sulfate market in terms of production volume. The large quantity of magnesium sulfate produced by China highlights the country’s capability to meet both domestic and international demand for this compound. This statistic also suggests that China likely holds a competitive advantage in magnesium sulfate production compared to other countries, emphasizing its importance as a key player in the global market for this specific chemical product.
Heptahydrate form of magnesium sulfate accounted for 71.5% of the total market revenue in 2020,
The statistic indicates that the heptahydrate form of magnesium sulfate, a specific type of compound, generated 71.5% of the total market revenue in 2020. This suggests that consumers and industries predominantly favored this particular form of magnesium sulfate over others available in the market. The high market share indicates the popularity and demand for the heptahydrate form, potentially due to its unique qualities, applications, or pricing compared to other forms. This statistic gives insight into the competitiveness and dynamics of the magnesium sulfate market, highlighting the dominance of the heptahydrate form in driving revenue for the industry in 2020.
The pharmaceutical industry accounted for 22.2% share of the global magnesium sulfate market in 2019,
The statistic stating that the pharmaceutical industry accounted for a 22.2% share of the global magnesium sulfate market in 2019 indicates the proportion of magnesium sulfate sales within the pharmaceutical sector compared to other industries, such as agriculture, food and beverage, and chemicals. This statistic highlights the significant role of pharmaceutical companies in consuming or distributing magnesium sulfate for various purposes, such as medical treatments, drug formulations, and research and development. The percentage share emphasizes the pharmaceutical sector’s influence and demand for magnesium sulfate within the global market, reflecting its importance in healthcare and pharmaceutical applications.
The European-market-for-magnesium-sulphate is expected to register a CAGR of over 4%, during the forecast period (2020-2025),
This statistic indicates that the European market for magnesium sulphate is projected to experience a Compound Annual Growth Rate (CAGR) exceeding 4% over the period from 2020 to 2025. A CAGR of over 4% suggests a steady and consistent increase in market size and demand for magnesium sulphate products throughout the forecasted period. This growth rate indicates a positive outlook for the industry, with factors such as increasing applications of magnesium sulphate in various sectors contributing to its market expansion. Businesses operating in the magnesium sulphate market in Europe can potentially benefit from this projected growth by leveraging market trends and opportunities to enhance their market presence and profitability.
In 2019, the food and beverage industry in North America used 10.4% of the total magnesium sulfate supply,
The statistic stating that the food and beverage industry in North America used 10.4% of the total magnesium sulfate supply in 2019 indicates the significant usage of this mineral compound within that specific industry and region during that year. Magnesium sulfate, commonly known as Epsom salt, is utilized for various purposes, including food additives, flavor enhancers, and nutrient supplements. The fact that the food and beverage sector accounted for over 10% of the total magnesium sulfate supply highlights the industry’s reliance on this ingredient for product formulation, processing, and preservation. Understanding the proportion of magnesium sulfate consumption by the food and beverage industry provides valuable insights into the importance of this mineral compound in maintaining quality, safety, and flavor within the sector in North America.
The predicted size of the global magnesium sulfate market would exceed $1.25 billion by 2027,
The statistic indicates that, based on current trends and forecasting models, the global magnesium sulfate market is expected to experience significant growth and reach a size that surpasses $1.25 billion by the year 2027. This prediction suggests a strong upward trajectory for the market, with increasing demand for magnesium sulfate products likely driving this expansion. Factors such as growing awareness of the benefits of magnesium sulfate, its diverse applications across various industries, and evolving market dynamics could contribute to this projected growth. Companies operating in this market may need to strategize accordingly to capitalize on the anticipated opportunities and navigate the competitive landscape as the market continues to evolve towards achieving this estimated value by 2027.
The total volume of magnesium sulfate sales in India was 851.2 Kilo Tons in 2019,
The statistic indicates that in the year 2019, the total volume of magnesium sulfate sales in India amounted to 851.2 Kilo Tons. This figure represents the cumulative amount of magnesium sulfate, a compound commonly used in agriculture, industrial processes, pharmaceuticals, and personal care products, that was sold and consumed in India during the specified period. The volume of 851.2 Kilo Tons emphasizes the significant demand for magnesium sulfate within the Indian market, reflecting its importance and widespread use across various industries in the country during the year 2019.
By 2027 is it projected 38.7% of magnesium sulfate demand will come from the agriculture sector,
This statistic suggests that by the year 2027, approximately 38.7% of the total demand for magnesium sulfate is expected to come from the agriculture sector. This implies that agriculture will be a significant contributor to the overall demand for magnesium sulfate, likely due to its various agricultural applications such as soil amendment, fertilizer additive, and livestock feed supplement. The projection highlights the importance of magnesium sulfate in enhancing agricultural productivity and suggests that the agriculture industry will continue to be a key consumer of magnesium sulfate in the future.
The Middle East and Africa region accounts for the least share of 3.9% in the global magnesium sulfate market,
The statistic indicates that the Middle East and Africa region has the smallest market share, accounting for only 3.9% of the global magnesium sulfate market. This suggests that the demand for magnesium sulfate products in this region is relatively lower compared to other regions worldwide. Factors such as economic development, industrial usage, healthcare applications, and regulatory environments likely contribute to the lower market share in this region. Companies operating in the magnesium sulfate market may need to consider these factors when evaluating business opportunities and expansion strategies in the Middle East and Africa region to capitalize on potential growth opportunities and increase market presence.
The top 3 players in magnesium sulfate industry accounted for over 70% of the global market in 2019,
This statistic implies that the magnesium sulfate industry is highly concentrated, with a significant portion of the market dominated by just three players. Specifically, these top three players collectively held a market share of over 70% in 2019, indicating their strong influence and control over the global magnesium sulfate market. Such dominance by a few key players suggests potential barriers to entry for new competitors and highlights the competitive advantage and market power held by these leading companies. This level of market concentration could have implications for pricing strategies, industry trends, and overall market dynamics within the magnesium sulfate industry.
The average price of magnesium sulfate has increased from $200 per ton in 2010 to $285 per ton in 2019,
The statistic indicates that the average price of magnesium sulfate has experienced an increase over the time period from 2010 to 2019. Specifically, the average price has risen from $200 per ton in 2010 to $285 per ton in 2019, representing a significant increase of $85 per ton. This upward trend suggests that the demand for magnesium sulfate may have increased relative to its supply, leading to a corresponding increase in its market price. The rise in price could be influenced by various factors such as changes in production costs, shifts in market dynamics, or fluctuations in demand. The statistic highlights the importance of monitoring price trends in the magnesium sulfate market for businesses and industries that rely on this essential compound.
There are over 120 companies globally that specialize in Magnesium sulfate production and distribution,
The statistic “There are over 120 companies globally that specialize in Magnesium sulfate production and distribution” indicates that there is a significant level of competition in the market for Magnesium sulfate products. The presence of over 120 companies suggests that there is a demand for Magnesium sulfate and that these companies play a crucial role in meeting that demand. This level of competition could lead to diverse product offerings, competitive pricing, and potential innovations in production methods. Additionally, the global reach of these companies highlights the widespread use and importance of Magnesium sulfate in various industries such as agriculture, pharmaceuticals, and food production.
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