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Magnesium Oxide Market Share, Industry Growth, Trend, Key Companies by 2027

  The global  magnesium oxide market  is expected to reach USD 8.43 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to growing applications of magnesium oxide. Magnesium oxide finds widespread application in the steel industry as a refractory product. It is frequently impregnated with carbon (for instance, pitch, tar, and graphite) to offer the best features for corrosion resistance in atmospheres of basic slags, specifically in slag lines of treatment ladles or BOF (Basic Oxygen Steelmaking) furnaces. Monolithic gunnables, spinel formulations, castables, and magnesia carbon-based refractory bricks, all produced using magnesium oxide, are extensively used for the purpose of basic steel refractory linings.  Moreover, these products find application in ferroalloy, glass, and ceramic kiln applications, among others. Growing demand for magnesium oxide in the construction industry is expected to grow at the fastest rate in the forecast