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 period. It is utilized as a constituent of cement mixture for use in residential and commercial construction of buildings. Depending on the proportion of magnesium oxide mixed, it can be deployed in an extensive range of general building applications that require mold and mildew control, fire resistance, and sound control, among other benefits. Magnesium oxide, being an environmentally friendly building material, may be drilled, sawed, and fastened to wood or steel framing.

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The basic objective of this report is to deliver details pertaining to the growth of this market, with respect to the rising demand from various sectors. The market report comprises an in-depth study of the current trends, growth opportunities, sectors likely to depict high growth prospects, industry drivers, and more, that would help shareholders undertake major decisions.

This report also focuses on the magnesium oxide Market size with respect to the volume and value – at the regional, company, and worldwide levels. Market strategies are undertaken, with regard to the current and future industry scenarios have also been enlisted in the study.

Market Overview:

The chemicals and materials industry has witnessed significant revenue growth over the recent past owing to increasing demand for chemicals, raw materials, consumer products such as perfumes, soaps, and detergents, and plastics from various end-use industries. Chemicals and materials are widely used in various consumer goods and different sectors such as agriculture, construction, and petroleum refining, among others. Polymers occupy the largest revenue share of the global chemicals industry owing to increasing demand from the packaging industry, construction markers, and home furnishing, among others. The increasing availability of raw materials at affordable costs, lower labor, and energy costs, and rapid economic growth in developing regions is a key factor boosting revenue growth of the chemicals and materials industry and the trend is expected to continue going ahead.

The report further offers an in-depth analysis of key regions in the market along with the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. It also studies the presence of key players in each region along with macro-and micro-economic growth factors, regulatory framework, and investment and funding opportunities in each major region.

Further key findings from the report suggest

• By product type, dead burnt magnesium oxide contributed to the largest market share in 2018 and is likely to grow at a rate of 3.8% in the forecast period. The high demand for this product type is owing to its usage in the production of refractories used in the steel and cement industries, among others.
• By distribution channel, the online distribution channel is projected to witness a faster growth rate in the period 2019-2027.
• By application, the construction industry is projected to grow at a rate of 4.5% in the forecast period.
• The market in the Asia Pacific region held the largest market share in 2018 and is estimated to have a CAGR of 4.3% in the forecast period. The market dominance of the APAC region is owing to rapid industrialization and urbanization, along with infrastructural development leading to an increase in demand for magnesium oxide in several end-use applications.

Top Players in the Global magnesium oxide Market:

Martin Marietta, Grecian Magnesite SA, Ube Industries, Xinyang Mineral Group, RHI Magnesita NV, Premier Magnesia LLC, Kumas Magnesite Industry Inc., Baymag Inc., Tateho Chemicals Industries Co., and Imerys SA, among others.

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magnesium oxide Market Segmentation:

Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

• Dead Burnt Magnesium Oxide
• Caustic Calcined Magnesium Oxide
• Fused Magnesium Oxide

Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

• Online
• Offline

Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

• Refractory
• Construction
• Agriculture
• Chemical
• Others

Global magnesium oxide Market Report: Regional Segmentation

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • Italy
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East & Africa
  • Saudi Arabia
  • U.A.E.
  • South Africa
  • Rest of MEA

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Frequently Asked Questions Answered in the Report:

• What is the estimated revenue growth rate of the global magnesium oxide market over the forecast period?
• What are the major factors driving the global market revenue growth?
• Which are the leading manufacturers and suppliers in the global magnesium oxide market?
• Which regional market is expected to lead in terms of revenue share in the global magnesium oxide market over the forecast years?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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