Manganese Sulfate Market Forecast Stresses on Growth during 2020 to 2030

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Manganese Sulfate: Introduction

• Magnesium sulfate (MgSO4) is a chemical compound that contains magnesium, sulfur, and oxygen. It occurs naturally in seawater, mineral springs, as well as in minerals such as kieserite and epsomite. Magnesium sulfate is commercially available in various types, including heptahydrate, monohydrate, anhydrous, and dried. Magnesium heptahydrate, also known as Epsom salt, is a commonly available form of magnesium sulfate.
• Currently, manganese sulfate is primarily used in agricultural fields, especially in feed and fertilizer fields. Battery grade manganese sulfate is used in cathode materials of lithium batteries, driven by the fast growth in the global demand for electric vehicles, especially in China and Europe.
• Magnesium sulfate is an essential nutrient for plant growth; it enhances food quality. Magnesium (Mg) plays a vital role in chlorophyll formation and photosynthesis. It influences various metallic processes and reactions such as photophosphorylation (i.e., ATP formation in chloroplasts), photosynthetic carbon dioxide (CO2) fixation, protein synthesis, partitioning and utilization of photo-assimilates, generation of reactive oxygen species, and photooxidation in leaf tissues. These processes and reactions are important in the growth phase of the plants and to gain high yields.

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Key Drivers and Restraints of Global Manganese Sulfate Market

• Increase in need for attaining high agricultural yields and significant growth of the agricultural industry across the globe are expected to be key drivers of the market in the next few years. According to the Food and Agriculture Organization (FAO) of the United Nations, the global agricultural industry is expected to surpass US$ 4.1 Trn by the end of 2022, registering a CAGR of around 4%.
• Rise in adoption of magnesium sulfate in the personal care & cosmetics industry for the formulation of a variety of personal care essentials, including hair products, skin care products, sun-tan products, and skin fresheners, is anticipated to boost the global magnesium sulfate market during the forecast period

Manganese Sulfate: Form Segment

• In terms of form, the global manganese sulfate market can be segmented into crystal, powder, and granules
• The crystal segment is expected to expand at a healthy CAGR during the forecast period, owing to the high demand for crystal form of manganese sulfate in the production of agrochemicals, textiles, and food and beverages

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Manganese Sulfate: Application Segment

• In terms of application, the global manganese sulfate market can be divided into fertilizer, medical, food additive, industrial, chemical, and others
• The fertilizer segment is expected to account for the major share of the market in the near future. Rise in demand for magnesium sulfate as fertilizer in the agricultural industry is likely to boost the segment during the forecast period.
• The medical segment is likely to expand at a rapid pace during the forecast period

Covid-19 Impact on Manganese Sulfate Market

• The COVID-19 pandemic has had a negative impact on the globally integrated industries, including automotive, industrial, and manufacturing. It has hampered the production and supply chain significantly. Manufacturing industries came to a complete halt due to lockdown measures adopted by various countries to curb the spread of the COVID-19 disease. This hindered production activities of manganese sulfate significantly.

Asia Pacific to Dominate Manganese Sulfate Market

• In terms of region, the global manganese sulfate market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Asia Pacific is one of the major regions for fertilizers. The arable land in India and other emerging economies in the region has been declining due to the expanding industrial sector. This has created pressure on farmers to increase the agricultural yield. This is driving the adoption of fertilizers. Thus, growth of the agricultural industry and increase in need to attain high agricultural yield are factors likely to boost the demand for magnesium sulfate in the production of fertilizers. This is projected to fuel the market during the forecast period.