Magnesium Sulfate Prices

Magnesium Sulfate Prices December 2023

The magnesium sulfate prices in the United States for Q4 2023 reached 430 USD/MT in December. The market witnessed a reduction in prices mainly driven by lower demand from horticulture and pharmaceutical sectors. This was coupled with increased supply and decreased feedstock costs, making the market bearish.

The price trend for magnesium sulfate in China for Q4 2023, reached 150 USD/MT in December. The market faced declining prices due to weak demand from horticulture and the agrochemical sectors. With reduced trading activities and cautious purchasing, the market's overall sentiment was bearish. Lower feedstock costs also contributed to decreased production expenses among key producers.

The price trend for magnesium sulfate in Europe for Q4 2023, reached 480 USD/MT in December. The market showed declining trends due to decreased consumption in horticulture and cautious buying from the pharma sector. Adequate supply and falling feedstock prices further lowered production costs, keeping the market subdued.

Magnesium Sulfate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Magnesium Sulfate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of magnesium sulfate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of magnesium sulfate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of magnesium sulfate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing magnesium sulfate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Magnesium Sulfate Market Analysis

The global magnesium sulfate market size reached 3.2 million tonnes in 2023. By 2032, IMARC Group expects the market to reach 4.4 million tonnes, at a projected CAGR of 3.80% during 2023-2032.

• The market expansion is being supported by the growing agriculture industry, which makes use of magnesium sulfate as a crucial ingredient that promotes plant growth and improves soil quality. This substance is well-known for providing sulfur and magnesium, both of which are necessary for plants to synthesize chlorophyll and for enzyme activity. By 2050, there will be 10 billion people on the planet, according to the most recent World Bank figures. As a result, there will be more pressure on the agriculture sector to use chemicals like magnesium sulfate to boost production and improve food security.
• The use of magnesium sulfate in healthcare is also growing significantly, which is driving up market share. It is used due to its medicinal qualities, particularly in the treatment of pre-eclampsia and eclampsia in pregnant patients. This substance works as a preventative measure to stop the seizures brought on by such illnesses. Magnesium sulfate is additionally utilized in emergency medicine to treat severe asthma episodes. To increase the accessibility and availability of medical care, nations are investing more on the infrastructure of the healthcare system. For example, in 2022, general government health spending in the European Union (EU) was €1221 billion, or 7.7% of GDP. Additionally, US healthcare spending increased by 4.1% to $4.5 trillion, or $13493 per person.
• Additionally, in the water treatment industry, magnesium sulfate is essential for eliminating pollutants and cleansing water. It facilitates the aggregation of particles by its flocculating agent action, making filtration simpler. Additionally, this substance is utilized to control the hardness of water by adjusting its mineral concentration. Eight out of ten people in rural regions lack access to clean drinking water, according to the most recent data from UNICEF and the WHO. Moreover, children under the age of five report 1.7 billion cases of diarrhea annually. These alarming facts highlight how crucial magnesium sulfate is to guarantee the safety of water for a variety of everyday applications.
• Magnesium sulfate is also being embraced by the food sector because it helps to preserve the flavor, texture, and safety of food products. In processed food, in particular, this chemical serves as a stabilizing and firming agent, helping to preserve food integrity and quality over time. The demand for magnesium sulfate is expected to rise in tandem with the food and beverage (F&B) industry's planned global expansion. In Europe, for instance, consumer expenditure on food and beverages increased by 21.5%. In addition, the European food and beverage sector recorded a remarkable turnover of Euro 1121 billion in 2022. Beyond this, industry projections indicate that by FY2025, the food processing sector in India will be valued at USD 470 billion.
• Another factor boosting the market share is the extensive use of magnesium sulfate in the building and construction industry. It serves as a fireproofing material and stabilizes soil. Additionally, clay-like expanding soil is stabilized by magnesium sulfate, reducing the risk of structural damage. According to the most recent World Bank study, nations spend 11.9% of their GDP on building projects on average. In addition, growth in the real estate sector is anticipated to reach 1.9% between 2024 and 2032. The need for magnesium sulfate will rise in tandem with the expansion of these industries.

Magnesium Sulfate News

The report covers the latest developments, updates, and trends impacting the global magnesium sulfate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in magnesium sulfate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the magnesium sulfate price trend.

Latest developments in the magnesium sulfate industry:

• In April 2021, Giles Chemical announced its plan to invest $4.5 million in the expansion of epsom salt (magnesium sulfate) capacity at its Lee Plant Road facility and another facility on Commerce Street.

Product Description

Magnesium sulfate (MgSO4) refers to a magnesium salt of sulfuric acid that is used to manage and treat multiple clinical conditions. It is a colorless and odorless compound with a bitter taste that exists in crystalline form. Some notable physical properties of magnesium sulfate include molecular weight (120.37 g/mol), melting point (1124°C), density (2.66 g/cu cm), and refractive index (1.56).

It can be recovered from minerals like Kieserite and Epsomite, followed by crystallization. On the industrial level, these crystals are centrifuged, dried, and sieved. Additionally, magnesium sulfate is synthesized by the thermal decomposition of magnesium oxide, followed by a reaction with sulfuric acid.

It is used as a laxative and soaking solution to provide relief from constipation, minor sprains, bruises, muscle aches, joint stiffness, and tired feet. Magnesium sulfate is also employed in leather tanning, bleaching, textile printing, and manufacturing fertilizers, mineral water, matches, and explosives.

Regional Coverage

The report provides a detailed analysis of the magnesium sulfate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the magnesium sulfate price trend.

Global Magnesium Sulfate Price

The report offers a holistic view of the global magnesium sulfate pricing trends in the form of magnesium sulfate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into magnesium sulfate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into magnesium sulfate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed magnesium sulfate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Magnesium Sulfate Price

During the fourth quarter of 2023, the magnesium sulphate market in Europe exhibited a declining trend. Stable production levels and consistent supply led to sufficient product availability, while demand from the fertilizer industry remained low due to decreased horticultural consumption. The pharma and beauty sectors showed modest interest, but cautious buying and lower feedstock costs drove down overall production expenses. A dip in sulphuric acid prices further affected market conditions. Significant price fluctuations were noted in several European markets, reflecting a combination of stable supply and weakened demand across various sectors.

This analysis can be extended to include detailed magnesium sulfate price information for a comprehensive list of countries.

North America Magnesium Sulfate Price

In Q4 2023, the North American magnesium sulphate market faced a drop in prices primarily due to declining demand from both the horticulture and pharma sectors. An increase in supply availability further contributed to this downward trend. Reduced feedstock sulphuric acid prices and a cautious approach to purchasing also lowered production costs. Meanwhile, the forecast anticipates a potential rise in demand from personal care products industry, despite ongoing stable demand from horticulture and lower consumption in the pharmaceutical sector.

Specific magnesium sulfate historical data within the United States and Canada can also be provided.

Middle East and Africa Magnesium Sulfate Price

The report explores the magnesium sulfate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on magnesium sulfate prices for countries can also be provided.

Asia Pacific Magnesium Sulfate Price

Throughout the final quarter of 2023, the magnesium sulphate market in Asia saw a downward trend, primarily driven by sluggish demand from the horticulture sector and a decline in fertilizer consumption. The market also experienced a decrease in production costs, mainly due to reduced feedstock prices and cautious purchasing behavior by buyers. Major producers in China and India benefitted from lower production costs due to decreased feedstock demand. The Pharma and beauty sectors showed moderate interest in Epsom Salt, but overall trading remained subdued as buyers held off on large orders to avoid high prices.

This magnesium sulfate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Magnesium Sulfate Price

The analysis of magnesium sulfate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of magnesium sulfate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting magnesium sulfate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The magnesium sulfate price charts ensure our clients remain at the forefront of the industry.