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Magnesium Oxide Market Pricing Trend and Share Analysis by RHI Magnesita N.V., Martin Marietta, Grecian Magnesite S.A., PremierMagnesia, Ube Industries, Kumas Magnesite Industry, Xinyang Mineral Group, ICL, SMZ, Tateho Chemicals Industries and Baymag
Magnesium Oxide Market: Diverse Industrial Uses of Magnesium Oxide to Push the Global Market Valuation to $5376.5 Mn by 2023
The Global Magnesium Oxide Market is witnessing a significant growth due to the increasing demand for MgO in the industrial sector as a refractory material, coupled with its application in building and construction sector. Hebei Meishen Technology Co. Ltd (China), Martin Marietta (U.S.), PremierMagnesia LLC (U.S.), Kümaş Manyezit Sanayi A.Ş (Turkey), ICL (Israel), Tateho Chemical Industries Co. Ltd (Japan), Kyowa Chemical Industry Co. Ltd (Japan) are the leading players, among others. Some of the major manufacturers in the Asia-Pacific including Hebei Meishen Technology Co. Ltd (China), Tateho Chemical Industries Co. Ltd (Japan), Gangotri Inorganic Private Limited (India), among others. Considering these trends, the global magnesium oxide market is set to witness a considerable competition during the forecast period, 2018–2023.
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Industry/ Innovation/ Related News:
August 1, 2018- RHI Magnesita N.V. (Austria), the leading manufacturer of magnesia has announced of its three Indian subsidiaries namely, Orient Refractories Limited (Orient Refractories), RHI India Private Limited (RHI India) and RHI Clasil Private Limited (RHI Clasil). This merger focuses on combining the strengths and resources of the three companies to establish one major company that is well established to grasp future growth opportunities and increase market share.
November 11, 2015- Grecian Magnesite S.A. (Greece), one of the key producers of magnesia, has announced the expansion of its Caustic Calcined Magnesia process plant with the installation of a 60tpd grounding facility. The production capacity of the plant is expected to increase from 18tpa to 40tpa of product. This expansion is in line with the company’s effort to enhance its competitive growth and market position.
August 1, 2015- OZARK Technical Ceramics (US) entered into a joint venture with Tateho Chemicals Industries Co. (Japan) to provide new synergies & opportunities, benefit both operations and mainly the customers and related industries.
Magnesium Oxide Market – Market Overview
Magnesium Oxide commonly known magnesia (MgO), is a hygroscopic material, produced by controlled calcination of magnesite ores or obtained from sea water by electrolysis. Magnesium Oxide find its application in refractory, building and construction, agriculture, chemical, and others. It is widely used as a refractory lining in iron & steel and ceramic & glass industries. The increasing demand for Magnesium Oxide in the iron & steel and construction industries is likely to fuel the market growth during the review period. In addition to this, the demand for Magnesium Oxide in manufacturing ceramics & glass is anticipated to drive the growth of the global Magnesium Oxide Market in the coming years. Magnesium Oxide is a component in magnesia-based cements, which are used in the production of fireproof materials and coatings, wallboards, flooring and grinding wheels. Moreover, the caustic calcined magnesia is largely used in the agricultural sector as an animal feed.
Asia-Pacific is expected to be the key region in the Global Magnesium Oxide Market owing to the presence of major agrarian economies in the region. In addition to this, the increasing demand for magnesia-based cements in the building and construction industry is anticipated to drive the growth of the regional market.
North America is expected to be the second largest market for MgO during the assessment period on account of increased demand for refractory materials in the iron & steel industry. Canada and US are the major contributors to the growth of this regional market.
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