openPR Logo
Press release

Magnesium Oxide Market 2022 Share, Gross Margin, Production and Consumption Analysis, Brands Statistics and Overview by Top Manufacturers 2030

01-07-2022 02:14 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketResearchFuture

Magnesium Oxide Market 2022 Share, Gross Margin, Production

Magnesium oxide is a hygroscopic compound which finds application in multiple purposes. As per the analysis of Market Research Future (MRFR), the global magnesium oxide market is poised to reach USD 5,376.5 Mn at a CAGR of 5.34% by the end of the forecast period of 2017-2023. In terms of volume, the global magnesium oxide market is expected to expand at a rate of 5.07% over the forecast period.

 The global magnesium oxide market derives much of its growth from persistent demand from the steel, glass & ceramics industry. Owing to its property of remaining physically and chemically stable at high temperatures, high thermal conductivity, and low electrical conductivity, magnesium oxide is largely used as refractory material in the industries above which forms a large chunk of the revenue of the global magnesium oxide market. Rebound in the steel industry is expected to provide long-term growth opportunities to the global magnesium oxide market.

 Magnesium oxide finds supreme importance as a commercial plant fertilizer. Magnesium is a vital component which aids in the photosynthesis process and is extensively used for the production of crops which require magnesium rich fertilizers for yielding optimal quality produce — owing to its high magnesium concentration and bioavailability, magnesium oxide is also used as animal feed.

 Get Free Sample PDF Brochure - https://www.marketresearchfuture.com/sample_request/1983

 Competitive Landscape

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

 Magnesium oxide finds large scale application in groundwater remediation, wastewater treatment, and drinking water treatment. Rapid industrialization across the global and growing focus on cleaner industry practices has induced high demand for magnesium oxide. It is environmentally-friendly and a safer alternative to other harsh chemicals such as caustic soda or Lyme chemicals. Another prominent driver augmenting the growth of the global magnesium oxide market include heightened demand from the construction industry. Magnesium acts a prime fireproofing ingredient and exhibits desirable properties such as termite resistance, moisture resistance, mold and mildew resistance, and others which makes it ideally suited as a construction material. The rise in constructional activities across the globe generates increased demand for magnesium oxide.

 Other factors stimulating the growth of the market include application in diverse use cases such as a food additive in food items and the medical sector. However, the growth of the market might be offset by the threat from substitutes such as graphite and silicon carbide which exhibit similar properties.

Speak to Analyst - https://www.marketresearchfuture.com/ask_for_schedule_call/1983

 Segmentation

The global magnesium oxide market has been segmented based on product type and application.

 By product type, the global magnesium oxide market has been segmented into dead burned magnesium (DBM), caustic calcined magnesia (CCM), and fused magnesium (FM).

 By application, the global magnesium oxide market has been segmented into refractory, agriculture, chemical intermediates, construction, and others.

 Regional Analysis

By region, the global magnesium oxide market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East & Africa (MEA).

 APAC is the largest market for magnesium oxide, led by China which was valued at USD 1691.2 Mn in 2018. Rapid industrialization has resulted in an upsurge in demand for refractory materials, from the iron & steel industry, in particular. Additionally, the presence of agrarian economies in the region generates demand for magnesium oxide in the region. The APAC magnesium market is expected to post a CAGR of 5.64% over the forecast period.

Request for Customization –
https://www.marketresearchfuture.com/ask_for_customize/1983

 North America accounts for the second largest share of the global market which is predicted to reach a valuation of USD 813.2 Mn and a market share of 1734.9 kilotons by volume. The US and Canada are the key contributors to the North America market. Canada is likely to exhibit a higher CAGR of 4.80% over the forecast period. The growth of the North America market can be attributed to increasing demand for refractory materials from various key end-use industries such as steel, glass, and ceramics in the region.  In addition, increased investment in private and public infrastructural development has stimulated growth in North America.

 Europe is an important growth pocket for the magnesium oxide market. Extensive demand for magnesium oxide from the medical sector in the region is a key growth influencer. Flourishing growth of the food industry can also be credited for initiating growth within the market since magnesium oxide is used as a food additive. Moreover, a robust economy and large-scale industrialization in the region creates a conducive environment for the growth of the market.

 The MEA market is expected to exhibit steady growth over the forecast period. Rapid economic growth and industrialization are paving the way for the consolidation of the global magnesium oxide market in the region.

 Industry Updates

In October 2018, Nevada Marketing Consultants LLC, White Moon, and CVMR Inc., of Canada entered into an agreement to conduct a feasibility study to determine the technical and economic viability of alternative refining solutions for processing its magnesite ore.

 more reports -

Polycarbonate Composites Market
https://www.marketresearchfuture.com/reports/polycarbonate-composites-market-8031

ferric chloride market
https://www.marketresearchfuture.com/reports/ferric-chloride-market-8029

Ethylbenzene Market
https://www.marketresearchfuture.com/reports/ethylbenzene-market-8028

Fluoropolymer Additives Market
https://www.marketresearchfuture.com/reports/fluoropolymer-additives-market-8050

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

email:sales@marketresearchfuture.com

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Magnesium Oxide Market 2022 Share, Gross Margin, Production and Consumption Analysis, Brands Statistics and Overview by Top Manufacturers 2030 here

News-ID: 2520823 • Views: 289

More Releases from MarketResearchFuture

Automotive Silicone Market 2022 Share, Gross Margin, Production and Consumption …
Silicone is an element that has moved from being used in microprocessors in engines of cars to widespread applications in the entire body of the car. Improvements in silicon chip technology which furthered the development of processor-based systems have driven the demand for the element. The emphasis on low carbon emissions and fuel efficiency is expected to be a banner period (2018-2023) for the global automotive silicone market, as per
Perlite Market, Key Player, Analysis, Type and Business Opportunities, Current T …
Demand For Perlite in various applications has been showing an upward trend. The Global Perlite Market is expected to grow at a CAGR of 6.85% and reach a valuation of USD 2,250 Mn over the forecast period of 2022-2030, asserts Market Research Future (MRFR) in a minutely analyzed research report. The Global Perlite Market stood at USD 1,512 Mn in 2022. Robust growth in the construction industry has resonated strong growth
Mobile Emission Catalysts Market Uses, Price, Key Player, Analysis, Size, Type a …
The Global Mobile Emission Catalysts Market is projected to be valued at USD 29,970.31 million by the end of 2030,registering a CAGR of around 7.2%during the forecast period. The mobile emission control catalysts are the key constituents of automobiles powered by internal combustion engines. These help mitigate the harmful effects of pollutants—such as NOx, carbon monoxide, unburned hydrocarbons, particulate matter, diesel carbon particulates (soot), and greenhouse gases—released in the exhaust. The primary
Polyolefin Fiber Market Size 2022 Analysis by Top Key Players |Bauder Ltd (UK), …
Market Synopsis According to a new report by Market Research Future (MRFR), the global market for polyolefin fiber is anticipated to showcase a staggering CAGR during the assessment period (2016-2023). Polyolefin fibers are synthetic fibers which are extensively used in rugs and carpet manufacturing due to its properties such as inertness, high tensile strength, and abrasion resistance. Polyolefin fibers are classified into polypropylene, and polyethylene. Polyolefin fibers are majorly used in

All 5 Releases