Published by Coherent Market Insights
Posted on October 8, 2021
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).
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.
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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.
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.
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.
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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, Kumas Manyezit Sanayi A.S., SMZ, a.s. Jelšava, Xinyang Mineral Group, Premier Periclase Ltd., and Israel Chemicals Ltd.
Few Recent Developments
Magnezit Group Europe GmbH
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Mr. Shah
Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
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The post Magnesium Oxide Is Valued At 4757.7 Million Usd In 2020 Is Expected To Reach 7429.5 Million Usd | Grecian Magnesite S.A., Premier Magnesia, LLC appeared first on Gatorledger.
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).
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.
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/3668
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.
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.
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.
Hurry Up…and Get a 2000$ Discount On a Price…!!! https://www.coherentmarketinsights.com/insight/request-discount/3668
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, Kumas Manyezit Sanayi A.S., SMZ, a.s. Jelšava, Xinyang Mineral Group, Premier Periclase Ltd., and Israel Chemicals Ltd.
Few Recent Developments
Magnezit Group Europe GmbH
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Magnesium Oxide Is Valued At 4757.7 Million Usd In 2020 Is Expected To Reach 7429.5 Million Usd | Grecian Magnesite S.A., Premier Magnesia, LLC appeared first on Gatorledger.
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