Magnesium Oxide (MgO) Market Size Worth USD 8.48 Billion in 2032 | Emergen Research

Rising demand for MgO from the construction industry and rapid growth of the agricultural and healthcare sectors are key factors driving market revenue growth


Vancouver, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The global Magnesium Oxide (MgO) market size was USD 5.02 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.5% during the forecast period. Rising demand for MgO from the construction industry and rapid growth of the agricultural and healthcare sectors are key factors driving market revenue growth.The use of MgO as a refractory material is essential for building high-temperature industrial buildings, such as kilns and furnaces, particularly in sectors including glass and steel fabrication.

MgO plays a critical role in the creation of magnesium oxychloride cement, which is widely used in various building applications due to their durability and resistance to fire. MgO is in high demand due to its use in lightweight concrete, which has a lower density and better thermal insulation. In addition, increasing emphasis on using sustainable and energy-efficient building materials is another key factor driving revenue growth of the market.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2740

Restricted reserves of minerals containing magnesium increase the likelihood of shortages and rivalry between producers. The global supply chain can be disrupted by geopolitical variables, such as trade conflicts and limitations, which make it more difficult to get raw materials consistently and reliably. In addition, restrictions imposed by environmental rules controlling mining operations may also increase the cost of output due to compliance.

The development of substitute materials and technological difficulties in the production processes can also influence the industry's expansion. Furthermore, health and safety laws controlling the handling and disposal of MgO as well as environmental issues pertaining to the production process is another factor, which could restrain market revenue growth.

Segment Insights

Product Insights:

On the basis of the product, the global MgO market is segmented into dead burned magnesia, caustic calcined magnesia, fused magnesia, and others. the dead burned magnesia accounted for largest revenue share in the global MgO market in 2022. This is due to increasing need of  DBM in a range of sectors including agriculture, ceramics, and refractories. DBM, a high-temperature processed type of magnesia, is highly valued for its remarkable chemical stability and heat resistance.

Particularly in the refractories sector, DBM is crucial for processes such as production of steel and cement. The demand for dead burned magnesia is influenced by changes in construction trends and industrial activity, which are both impacted by changes across the globe.

Application Insights:

On the basis of application, the global MgO market is segmented into refractory, agriculture, chemical intermediates, healthcare, building & construction, electrical & electronics, metallurgy, construction & building, and others. The agriculture segment is expected to account for significantly large revenue share in the global MgO market during the forecast period due to rising need of MgO for many agricultural techniques.

In addition, MgO is known to be an essential component for plant growth, therefore is widely used as a fertilizer to correct magnesium deficiency in soils. MgO offers a readily accessible form of magnesium, an element that is critical to the production of chlorophyll and, by extension, to photosynthetic processes that are needed for full plant health. Apart from addressing magnesium deficiency, MgO is used to regulate pH levels in soil, especially in acidic soils where its alkaline properties can aid.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2740

Regional Insights:

The North America market accounted for largest revenue share in the global MgO market in 2022. This is due to industrial applications of MgO in North America, with substantial contributions from refractories, construction, agricultural, and healthcare sectors. MgO is frequently used in the steel and cement sectors, which increases need for refractory materials, due to high temperature tolerance. Building and construction sites uses MgO for its moisture and fire-resistant properties.

In addition, manufacturing and use of magnesium oxide are impacted by strict environmental rules in North America, which mandate adherence to emissions limits and air quality requirements. MgOis frequently present in antacids and magnesium supplements and has an impact on the pharmaceutical and healthcare sectors.

The Asia Pacific market is expected to register fastest revenue growth rate in the global MgO market during the forecast period. This is due to high need for MgOacross a range of industries, including steel, cement, glass, and agriculture.

The agriculture sector uses magnesium oxide as a fertilizer and soil amendment to alleviate magnesium deficits in soils. In addition, increasing use of MgO in healthcare and pharmaceuticals, particularly in antacids and supplements is also expected to drive market revenue growth of this region during the forecast period.

Scope of Research

Report Details Outcome
Market Size in 2022 USD 5.02 Billion
CAGR (2023–2032) 5.5%
Revenue Forecast To 2032 USD 8.48 Billion
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Product, form, purity, application, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Martin Marietta Materials, Grecian Magnesite, Premier Magnesia, LLC, RHI Magnesita, Israel Chemical Ltd. (ICL), Ube Industries Ltd., American Elements, Nedmag B.V., Tateho Chemical Industries Co., Ltd., MagOneProducts, Du-Co Ceramics Company, and Strem
Customization Scope 10 hours of free customization and expert consultation

Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2740

Major Companies and Competitive Landscape

The global MgO market is fragmented, with large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing and testing MgO products in the market. Some of the major companies included in the global MgO market report are:

  • Martin Marietta Materials
  • Grecian Magnesite
  • Premier Magnesia, LLC
  • RHI Magnesita
  • Israel Chemical Ltd. (ICL)
  • Ube Industries Ltd.
  • American Elements
  • Nedmag B.V.
  • Tateho Chemical Industries Co., Ltd.
  • MagOneProducts
  • Du-Co Ceramics Company
  • Strem

Strategic Development

  • In November 2022, West High Yield Resources established high-purity MgO industrial production facility, near Rossland, British Columbia. The company plans to use its high-purity MgO factory to offer a substitute for the dominating Chinese operations that presently produce magnesium oxide from carbonate ores. This would consequently supply American and European clients with high-purity MgO products from a secure, independent, and eco-friendly Canadian source.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/magnesium-oxide-market

For the purpose of this report, Emergen Research has segmented the global MgO market on the basis of product, form, purity, application, and region:

  • Product Outlook (Revenue, USD Billion; 2019-2032)
    • Dead Burned Magnesia
    • Caustic Calcined Magnesia
    • Fused Magnesia
    • Others
  • From Outlook (Revenue, USD Billion; 2019-2032)
    • Powder
    • Granule
    • Briquette
    • Others
  • Purity Outlook (Revenue, USD Billion; 2019-2032)
    • Up to 90%
    • 91% - 95%
    • 96% - 98%
    • Above 98%
  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Refractory
    • Agriculture
    • Chemical Intermediates
    • Healthcare
    • Building & Construction
    • Electrical & Electronics
    • Metallurgy
    • Construction & Building
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • Spain
      • 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
      • UAE
      • South Africa
      • Turkey
      • Rest of Middle East & Africa

Emergen Research is Offering Exclusive Customization as per your Specific Requirements@ https://www.emergenresearch.com/request-for-customization/2740

 About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights



Coordonnées