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Magnesium Oxide Board Market Analysis, Trends, Growth, Research And Forecast 2032
Magnesium Oxide Board Market
The Business Research Company's Magnesium Oxide Board Global Market Report 2023 identifiesIncreasing demand for construction activities as the major driver for the magnesium oxide board market's growth in the forecast period. Construction refers to the process of assembling numerous materials to form a structure for a particular location utilizing a comprehensive design and blueprint. Magnesium Oxide boards are beneficial to the construction sector because they are created by human factory-produced non-insulating roofing board products utilized for common uses in construction, and they are also a better construction material that substitutes wood board and gypsum board.
The global magnesium oxide board market size is expected to grow from $1.65 billion in 2022 to $1.76 billion in 2023 at a compound annual growth rate (CAGR) of 6.19%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of magnesium oxide board market is expected to reach $2.28 billion in 2027 at a CAGR of 6.73%.
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Major competitors in the magnesium oxide board market are GemtreeBoard Ltd., Ambient Bamboo Products Inc., Hebei Optimum Construction Materials Co Ltd., Trusus Building Materials Manufacturing Co Limited, Magnum Board Products LLC, Shandong Zhuchen Industrial Co Ltd., Jiangyin Yongxin Decorative Materials Co Ltd., North America MgO LLC, Tongxing Technology Development Co Ltd., Suparna Building Materials, RPV Industries Pvt Ltd.
A key trend in the magnesium oxide board market includes product innovations. Major companies operating in the magnesium oxide board market are developing product innovations to strengthen their position in the market. For instance, in February 2021, Huber Engineered Woods (HEW), a US-based manufacturer of roof sheathing, wall sheathing, insulated R-sheathing, stretch tape, and liquid flash, introduced a new brand called EXACOR Magnesium-Oxide (MgO) panels. EXACOR panels, as a component of flooring systems, provide construction teams with an easy-to-work panel design that includes patented internal mesh fiber for structure and a magnesium-oxide formula for dimensional stability, fire protection, and sound dampening. These panels are available in nominal thicknesses of 1/2 (12mm), 5/8 (16mm), and 3/4 (20mm), and can help minimize both material requirements and labor time when compared to fire-rated flooring components, which need gypsum underlayment.
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The magnesium oxide board market is segmented -
• By Product Type: Thin (15 mm)
• By Distribution Channel: Online Distribution Channel, Offline Distribution Channel
• By Application: Residential Building, Commercial Building, Industrial Buildings, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the magnesium oxide board market.
The Business Research Company's "Global Magnesium Oxide Board Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Magnesium Oxide Board Market Include:
1. Executive Summary
2. Magnesium Oxide Board Market Characteristics
3. Magnesium Oxide Board Market Trends And Strategies
4. Magnesium Oxide Board Market - Macro Economic Scenario
5. Global Magnesium Oxide Board Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Magnesium Oxide Board Market Competitive Benchmarking
33. Global Magnesium Oxide Board Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Magnesium Oxide Board Market
35. Magnesium Oxide Board Market Future Outlook and Potential Analysis
36. Appendix
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