Growing demand for Europe Manganese Sulfate as fertilizer is one of the significant factors influencing the market growth.
Europe Manganese Sulfate Market Size – USD 235.2 Million in 2018, Growth - CAGR of 7.8%, Trends – Surging demand for Europe Manganese Sulfate in batteries
The global Europe Manganese Sulfate Market is expected to reach USD 466.3 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing demand for Europe Manganese Sulfate in end-use applications.
Manganese is a vital mineral necessary for plant nutrition and performs a significant role in various physiological processes, especially photosynthesis. Manganese deficiency is a major problem, often arising in organic soils and sandy soils, with a pH level of more than 6 and tropical soils. Wet and cold conditions usually worsen the issue. The influence of manganese deficiency on crops comprises reduced yield, weaker resistance against pathogens, and a decreased tolerance to heat and drought stress. Furthermore, GMO strains of cash crops often suffer from a manganese deficiency, owing to the drag effect caused by the herbicide on them by depriving them of manganese. Thus, Europe Manganese Sulfate as a fertilizer is essential for the health of crops. Europe Manganese Sulfate also has the benefit of providing sulfur as sulfates that immediately available for plant uptake.
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Key Companies: Aldon Corporation, Hydrite Chemical, ERAMET, Jost Chemical, Boston Bioproducts, Micromix, Lantian Chemical Industry, CITIC Dameng, NOAH Technologies Corporation, and Sam HPRP Chemicals, among others.
Further key findings from the report suggest:
- By grade, industrial grade Europe Manganese Sulfate contributed to a substantial market share in 2018.
- By distribution channel, online distribution channel is anticipated to witness the fastest growth rate of 10.4% in the forecast period.
- By application, agriculture contributed to the largest market share in 2018 and is expected to grow at a rate of 8.0% in the forecast period. The key application of Europe Manganese Sulfate in agriculture is as fertilizer, fungicides, and feed additives, among others.
- The market in the Asia Pacific region dominated the market in 2018 and is projected to grow at a rate of 8.5% in the forecast period, owing to a swiftly increasing population resulting in higher demand for a greater quantity of food products from developing countries, including India and China. The increasing consumption of fertilizer in the region to achieve higher crop yield is driving the growth of the market.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Europe Manganese Sulfate market is segmented into:
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Agriculture Grade
- Industrial Grade
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To read more about the report https://www.reportsanddata.com/report-detail/manganese-sulfate-market
Key Questions Addressed in the Report:
- North America Manganese Sulfate Market, North America Manganese Sulfate Market Analysis, North America Manganese Sulfate Market 2023
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