Magnesium Sulfate Price In USA
- United States: 430 USD/MT
In the latter quarter of 2023, magnesium sulfate prices in the United States ended at 430 USD/MT at the end of Q4.
The latest report by IMARC Group, titled "Magnesium Sulfate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of Magnesium Sulfate prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Magnesium Sulfate Prices December 2023:
- United States: 430 USD/MT
- China: 150 USD/MT
- Europe: 480 USD/MT
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The study delves into the factors affecting Magnesium Sulfate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Magnesium Sulfate Price Trend- Q4 2023
The incessant demand for effective fertilizers and therapeutic agents is driving the market growth of magnesium sulphate worldwide. Additionally, the rising awareness of the benefits of magnesium sulphate in agriculture for soil nutrient replenishment and in healthcare for treating various ailments is a significant growth-inducing factor. The expansion of the agricultural sector, characterized by an increasing emphasis on crop yield and quality, along with the adoption of advanced farming techniques, further fuels the market growth. The trend towards using magnesium sulphate in bath salts and beauty products, due to its therapeutic properties such as muscle relaxation and exfoliation, is propelling the market forward. Technological advancements in mineral extraction and processing, enhancing the purity and effectiveness of magnesium sulphate, continue to bolster the market growth. Moreover, the surge in demand for pharmaceutical-grade magnesium sulphate, essential for addressing conditions such as eclampsia and magnesium deficiency, is stimulating the market. The customization and formulation of magnesium sulphate for various industrial applications, including textiles and leather tanning, are becoming increasingly popular. The widening applications of magnesium sulphate in environmental applications, such as water treatment and nutrient cycling, are boosting its market demand. Furthermore, the commitment to achieving better health outcomes and improving agricultural practices is driving the continuous adoption of magnesium sulphate. Coupled with this, innovative packaging and distribution strategies for magnesium sulphate are significantly contributing to the market dynamics, ensuring safe transport and efficient usage across multiple industries.
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. In the fourth quarter of 2023, the Magnesium Sulphate market experienced significant price fluctuations across various regions, driven by a complex interplay of demand dynamics, supply chain challenges, and raw material costs. In North America, a notable decrease in demand from the Horticulture and Pharma sectors contributed to a downward pressure on prices. This was compounded by increased inventory levels which led to a bearish market sentiment, further pulling down the prices. The situation was exacerbated by logistical challenges, including reduced water levels in the Panama Canal and Mississippi River, which impacted supply chain activities. Additionally, the price of feedstock Sulphuric Acid, a key input in the production of Magnesium Sulphate, declined during the quarter. This decrease in cost support, coupled with cautious purchasing behavior from buyers, led to reduced production costs, thereby influencing the downward trend in Magnesium Sulphate prices. Despite stable demand from the Horticulture sector, the Pharma sector did not pick up as expected, which added to the subdued market conditions.
Similarly, in the Asian market, prices showed a bearish trend influenced by a combination of reduced demand, particularly from the horticulture sector, and an oversupply of feedstock materials. The reduced demand for fertilizers led to low consumption rates, affecting the overall demand for Magnesium Sulphate. Import orders were notably low as buyers hesitated to procure materials at higher prices, reflecting cautious buying patterns. Additionally, the cost support from upstream feedstock, including Sulphuric Acid and Magnesium, saw a decline due to excess availability and weak consumption rates from key downstream industries like agrochemicals. This reduction in input costs facilitated a decrease in production expenses for major producers in China and India, contributing to the lower market prices observed. Furthermore, moderate inquiries for Epsom Salt from the Pharma sector and the beauty and wellness industry could not offset the broader declines, highlighting the sensitivity of the Magnesium Sulphate market to sector-specific demand shifts and global economic conditions.
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Key Points Covered in the Magnesium Sulfate Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Magnesium Sulfate Price News
- Magnesium Sulfate Price History
- Magnesium Sulfate Demand & Supply
- Magnesium Sulfate Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Magnesium Sulfate Price Analysis
- Magnesium Sulfate Industry Drivers, Restraints, and Opportunities
- Magnesium Sulfate News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
- North America: United States and Canada.
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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