Magnesium Oxide Market Growth Analysis and Future Outlook to 2022 - RHI Magnesita N.V, Martin Marietta, Grecian Magnesite S.A, PremierMagnesia LLC, Ube Industries Ltd, Kumas Magnesite Industry Inc

Global Magnesium Oxide Market Overview:

Medical electrodes are devices used to transfer the energy of ionic currents to the body's electrical current. The currents transmitted in the body are amplified and have proved useful in diagnosing various diseases. The medical electrodes are non-invasive and include a metal, an electrode and a conductive plate. The medical electrodes progress in the quantification of the internal ion currents and can diagnose nervous, cardiac, ocular and muscular disorders. The electrode works in combination with the electrical contact between the device and the monitoring system, used to monitor the patient's activities. Diseases and health problems treated with medical electrodes include Alzheimer's disease, Parkinson's disease, body aches and sinusitis. Medical electrodes can be applied in the areas of general surgery, fetal control, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery, etc. CAGR of 4.1% in value during the forecast period, 2016-2026.

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Global Magnesium Oxide Market Size:

According to the research report published by the Research Cosmos, the Magnesium Oxide Market was valued at USD 5120 million in 2017 and is projected to reach at USD 5580 million by 2022 at a CAGR of 1.06% during the forecast period.

Global Magnesium Oxide Market Drivers and restraints:

The automotive industry has been the main driver of growth in the magnesium oxide market in recent years. However, the world market has also gained ground in other industries, such as the iron and steel industry and agriculture. In addition, burned magnesia and molten magnesia are used in refractory applications. In addition to refractory products, it is also used in animal feed, fertilizer, pulp bleaching, etc. Therefore, polyvalent magnesium oxide finds a variety of applications in a wide range of industries, driving the growth of the global market. In addition, the increase in global industrialization and the emphasis on cleaner and more sustainable industrial practices have led to tremendous market growth. It should also be borne in mind that one of the largest users of magnesium oxide is the wastewater treatment industry, due to its efficiency and profitability over other chemical products. While prospects for the global market look promising, there are few restrictions that can hinder future growth. These include the use of magnesia substitutes that in some aspects may affect the demand for magnesium oxide.

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Global Magnesium Oxide Market Geographical segmentation:

The global magnesium oxide market covers five major regions, including North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. The Asia Pacific region was the largest region in terms of value (2016) and is expected to grow with a CAGR of 5.64% during the period evaluated. China is the leading country with a market value of USD 1691.2 million. According to our analysis, the presence of important agrarian economies in the region stimulates the demand for magnesium oxide. In addition, increasing industrialization has further increased the demand for refractory materials, particularly in the iron and steel industry, which has stimulated market growth in the region. North America is expected to be the second largest market in the anticipated years. The North American market is expected to reach a market value of USD 813.2 million and a market share of 1734.9 kilotons by 2023. Canada and the United States are the main contributors to this growth. The Canadian market is expected to experience annual growth above 4.80% while the US market has a compound annual growth rate of 4.05%. The increasing demand for refractory materials in the developed steel, glass and ceramic industries contributes mainly to the growth of the market in this region. However, the increasing use of substitutes of magnesium oxide in the refractory application is a major downside to the market growth.

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Global Magnesium Oxide Market Major Key Players:

Some of the key players operating in the global magnesium oxide market are RHI Magnesita N.V.(Austria), Martin Marietta (U.S.), Grecian Magnesite S.A. (Greece), PremierMagnesia LLC (U.S.), Ube Industries Ltd (Japan), Kumas Magnesite Industry Inc (Turkey), Xinyang Mineral Group (India), ICL (Israel), SMZ, a.s. Jelsava (Slovakia), Tateho Chemicals Industries Co. (Japan), and Baymag Inc ( Canada), among others.

Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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