Magnesium Oxide Market to Grow Rapidly due to Increasing Application in End-use Industry

The growth of the industry over the projected timeline is projected to be driven by increasing penetration in end-use applications, including food additives, pharmaceuticals, glass, fuel additives, ceramics, and cement.

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The substance has non-toxic and odorless features, making it suitable for industrial applications. In addition, it occurs in the form of white powder and has a high melting point, hardness, and purity. As a result, demand for the manufacture of electronic material, silicon steel sheets, and high-grade ceramic material as a high-temperature dehydrating agent is rising.

Consumption of magnesium oxide is correlated with a handful of generally stable end markets. As a key refractory mineral, its use is correlated to the production of steel and cement, while modest but steady annual demand levels hold the industry ticking over as an element in markets ranging from flame-retardants and water treatment to medical research and animal feed.

Growth Drivers that Support the Global Magnesium Oxide Market:

  • For a plethora of factors, the global demand for magnesium oxide is rising. Growing demand for refractory materials in kilns, furnaces, reactors, and incinerators is one of the key factors driving market growth. One of the main reasons driving the development of the global demand for magnesium oxide is rising industrialization in developing countries.
  • In the iron and steel industry, magnesium oxide is extensively used. Thus, phenomenal growth in this sector in recent years indicates that in the years ahead, the global market for magnesium oxide will undergo impressive demand avenues.
  • In addition, the magnesium oxide industry is expected to acquire lucrative opportunities on the basis of the growth of the non-ferrous metals, ceramics and chemical industries. The rising production of glass and the rising demand for magnesium oxide in animal feed and fertilizers are some of the main drivers of the global market for magnesium oxide.
  • North America, with its sales share, was the second largest market for the product. Thanks to the growing number of petrochemical industries in the area, commodity demand in the region is projected to gain traction. Increasing product demand in the paint & coating industry as an anti-bacterial agent is expected to fuel development in the industry.

Global Companies Seek to Launch New Products in the Market by Collaboration:

  • Nov 2020 A mixture of potassium chloride, magnesium sulphate and sodium sulphate has been sanctioned by the FDA. In an agreement for a colonoscopy in adults, this osmotic laxative is listed for flushing the colon. When taking this therapy, a low-residue meal can be consumed, but only clear liquids may be used right after the colonoscopy.
  • Apr 2020 Mag One Products Inc has reported that its Quebec-based firm, Mag One Operations, has concluded a Contribution Agreement under its Clean Growth Policy with Cagh Natural Resources Canada’s GCanada’srnment (CGP).
  • June 2020 Researchers at the University of Minnesota are researching if in high-risk patients, magnesium will make a difference. Primary evidence indicates that ion channels are formed by COVID-19, thus altering the functioning of infected human cells. As it blocks the viral ion channel in the body when protecting against oxidation, magnesium has a deep effect. Another known cause for abnormal cardiovascular activity is oxidation.

Major companies functioning in the global Magnesium Oxide market are RHI-Magnesita, Magnezit Group, SMZ Jelsava, Martin Marietta Magnesia Specialties, Kumas Magnesite Works, Nedmag Industries, Grecian Magnesite. Some other companies include Navarras SA,Primier Magnesia, Baymag, Industrias Penoles, Ube Material Industries, ICL Industrial, Imerys, Haicheng Houying Group, Haicheng Magnesite Refractory, Haicheng Huayu Group, Jiachen Group, Liaoning Jinding Magnesite, Liaoning Wang Cheng Magnesium Group, Qinghua Refractory Group, Dashiqiao Huamei Group.

Market Segmentation:

By Type:

  • Dead-Burned Magnesium Oxide (DBM)
  • Fused Magnesium Oxide (FM)
  • Caustic Calcined Magnesium Oxide (CCM)
  • Synthetic Magnesium Oxide

By Application:

  • Refractories Industry
  • Agriculture Industry
  • Chemical Industry
  • Construction Industry
  • Other

By Region:

  • North America
    • North America, by Country
      • US
      • Canada
      • Mexico
    • North America, by Type
    • North America, by Application
  • Western Europe
    • Western Europe, by Country
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • The Netherlands
      • Rest of Western Europe
    • Western Europe, by Type
    • Western Europe, by Application
  • Asia Pacific
    • Asia Pacific, by Country
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Indonesia
      • Rest of Asia Pacific
    • Asia Pacific, by Type
    • Asia Pacific, by Application
  • Eastern Europe
    • Eastern Europe, by Country
      • Russia
      • Turkey
      • Rest of Eastern Europe
    • Eastern Europe, by Type
    • Eastern Europe, by Application
  • Middle East
    • Middle East, by Country
      • UAE
      • Saudi Arabia
      • Qatar
      • Iran
      • Rest of Middle East
    • Middle East, by Type
    • Middle East, by Application
  • Rest of the World
    • Rest of the World, by Country
      • South America
      • Africa
    • Rest of the World, by Type
    • Rest of the World, by Application

Years Covered in the Study:

Historic Year: 2016-2017

Base Year:2018

Estimated Year: 2019

Forecast Year: 2028

 

 

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