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magnesium oxide market

magnesium oxide market

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magnesium oxide market

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. MAGNESIUM OXIDE MARKET ANALYSIS(2019-2027) Magnesium Oxide Market, Magnesium Oxide Market (Refractory, Agriculture, Industrial, Others), Refractory Agriculture Industrial Others (Dead Burned Magnesia, Fused Magnesia, Caustic Calcined Magnesia), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  3. Magnesium Oxide Market: • Magnesium Oxide Market 2017–2027 • Magnesium oxide is a chemical compound with formula MgO and occurs naturally as periclase. It is a source of magnesium and has a wide range of applications such as it is used as an insulator in industrial cables and refractory materials for the production of ceramic, steel, and glass. It is also used in animal feed for magnesium nutrition and in the production of fertilizers. Furthermore, it is also used across the pharmaceutical industry in the formulation of antacid. Additionally, it is also used as a pulp bleaching agent and due to its high alkalinity, it also finds application across the wastewater treatment process and flue gas desulphurization. • The global magnesium oxide market is projected to reach around US$ 8.5 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.16% during the forecast period (2019-2027).

  4. Drivers • The growing demand for magnesium oxide from refractories is a prime driver factor augmenting the market growth of magnesium oxide. According to the Coherent Market Insights analysis, the refractory industry is one of the key growth markets for magnesium oxide demand, which has been estimated to account for 54.8% share in terms of overall consumption. In terms of end-use, Iron and steel accounted for 74% share in terms of consumption of the overall refractory end-use, followed by cement & lime with a 13% share. • Increasing production of glass around the globe is expected to foster the market growth of magnesium oxide. According to the Alliance Group 2019, in 2018, the EU-28 glass production reached a volume of 36.5 million tons, a slight increase of 0.2% compared with 2017. Magnesium oxide is used as a refractory brick in the production of glass. Hence, the growing production of glass is projected to augment market growth.  • On basis of the region, Asia Pacific region dominated the global magnesium oxide market in 2018, accounting for 59.2% share in terms of value, followed by Europe and North America respectively.

  5. Figure 1. Global Magnesium Oxide Market, Revenue Share (%), By Region, 2018

  6. Market Restraints • The availability of substitutes for magnesium oxide as a refractory application across end-use industries is expected to restrict the market growth. For example, alumina, chromite, and silica are being used as a substitute for magnesia across the refractory application. Hence, increasing utilization of substitutes for magnesium oxide is projected to hamper market growth over the forecast period. • Side effects associated with the consumption of magnesium oxides such as diarrhea and cramping is projected to hinder the market growth of magnesium oxide. Sometimes, exposure of magnesium oxide also caused itching, rash or hives, lightheadedness or dizziness, weakness, unusual fatigue, nausea, and vomiting. This factor is expected to restrict the market growth of magnesium oxide. • Market Opportunities • Increasing demand for magnesium oxide for exterior and interior wallboards is expected to propel the market growth over the forecast period. Magnesium oxide is effective materials for the construction of energy-efficient and durable buildings and also reduces the overall cost of construction. Hence, the growing usage of magnesium oxide in the production of wallboards is expected to propel the market growth over the forecast period. Usage of MgO in wastewater treatment is expected to grow significantly over the forecast period and this is expected to propel the market growth of magnesium oxide. MgO is increasingly replacing lime as the pH balancer in the treatment of wastewater industries as it serves the major purpose of precipitation and neutralization of heavy metals. Therefore, the growing usage of MgO will favor market growth over the forecast period. 

  7. Figure 2. Global Magnesium Oxide Market– Opportunity Analysis

  8. Market Trends • The rising trend of using fuse magnesia in refractories is projected to foster the market growth of magnesium oxide. Fused magnesia has excellent properties as compared to DBM and is now highly preferred across refractory applications. It has high magnesium content, larger crystal size, and higher density. Hence, growing trend of using fused magnesia across refractories application will positively impact the market growth of magnesium oxide. • Increasing usage of magnesium oxide in the production of fertilizers is expected to augment the market growth over the forecast period. The market is expected to gain exponential growth on the account of increasing demand for fertilizers due to the rising need for quality yield production. Hence, the growing demand for fertilizers is expected to foster the market growth of magnesium oxide.

  9. Figure 3. Global Magnesium Oxide Market, Revenue Share (%), By Product Type, in 2018

  10. Figure 4. Global Magnesium Oxide Market– Value Chain Analysis

  11. Competitive Section • Key players operating in global magnesium oxide market are Martin Marietta Materials Inc., Grecian Magnesite S.A., Premier Magnesia, LLC, Ube Industries Ltd., Robert Half International AG, Magnezit Group Europe GmbH, Magnesita Refractories SA, KumasManyezit Sanayi A.S., SMZ, a.s.Jelšava, Xinyang Mineral Group, Premier Periclase Ltd., and Israel Chemicals Ltd. • Few Recent Developments • Magnezit Group Europe GmbH • In Jun 2015, Company launched a new product line ‘Russian Magnezit TM’, which includes DBM and FM, with MgO content 97% and above

  12. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now Reference: https://www.coherentmarketinsights.com/market-insight/magnesium-oxide-market-3668

  13. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  14. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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