Market Research Future Published a Research Study on Magnesium Oxide MarketResearch Report, Size, Share and Industry Analysis – Forecast to 2023
Magnesium Oxide Market-Industry News
August 2019: Clenpiq has received approval for pediatric use in colonoscopy preparation. It is a combination of magnesium oxide, sodium picosulfate, and anhydrous citric acid.
Magnesium Oxide Market-Key Players
Major players profiled in the magnesium oxide market report include-
- Baymag Inc (Canada)
- Tateho Chemicals Industries Co. (Japan)
- SMZ, a.s. Jelsava (Slovakia)
- ICL (Israel)
- Xinyang Mineral Group (India)
- Kumas Magnesite Industry Inc (Turkey)
- Ube Industries Ltd (Japan)
- PremierMagnesia LLC (US)
- Grecian Magnesite SA (Greece)
- Martin Marietta (US)
- RHI Magnesita N.V.(Austria)
Key players have incorporated several strategies to create a foothold in the market, such as research and development strategies, mergers and acquisitions, collaborations, expansions, and more.
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Magnesium Oxide Market-Segmentation
The magnesium oxide market is fragmented on the basis of product type, application, and region.
Based on type, the magnesium oxide market is segmented into fused magnesium (FM), caustic calcined magnesia (CCM), and dead burned magnesium (DBM).
Based on the application, the magnesium oxide market is segmented into construction, chemical intermediates, agriculture, refractory, and others. The refractory segment is again segmented into glass, ceramics, steel, and others. The agricultural segment is again segmented into animal feed and fertilizers.
Magnesium Oxide MarketAnalysis
The global magnesium oxide market is predicted to touch USD 5,376.5 million at a 5.34% CAGR between 2017-2023, reveals the latest Market Research Future (MRFR) report. Magnesium oxide or magnesia is a solid white material with chemical formula MgO. It is a source of magnesium and occurs naturally as periclase. Magnesium oxide is utilized as an insulator in industrial cables as basic refractory materials for crucibles as well as a key fireproofing ingredient in construction materials. Besides, it is also used in industrial, environmental, pharmaceutical, food, chemical, and agricultural applications.
Various factors are propelling the magnesium oxide market growth. These factors, as stated by the latest Market Research Future (MRFR) report, include increasing demand for agricultural products worldwide, growing investment in private and public infrastructural development, and developing industrial sector. Additional factors pushing market growth include a focus on sustainable and cleaner industry practices, rising global industrialization, growing cement consumption, growing demand from the refractory application, and growing demand from the automotive industry and wastewater treatment industry.
On the flip side, the use of magnesia substitutes such as silicon carbide and graphite, and regulations directed to reduce environmental pollution are factors that may impede the magnesium oxide market growth over the forecast period.
Browse Key Industry insights spread across 135 pages with 284 market data tables & 23 figures & charts from the Report, “Magnesium Oxide Market: Type (Dead Burned Magnesia, Caustic Calcined Magnesia, Fused Magnesia), Application (Refractory, Agriculture, Chemical Intermediates, Construction) Region (North America, Europe, Apac, Latin America, Mea) – Forecast Till 2023” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/magnesium-oxide-market-1983
Regional Analysis
By region, the magnesium oxide market report covers the latest trends and growth opportunities across North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific. Of these, the APAC region will spearhead the market over the forecast period. Factors propelling growth of the magnesium oxide market in the region include increasing industrialization, presence of major agrarian economies, burgeoning demand for refractory materials in the iron and steel industry, and the multifaceted use of magnesium oxide in different end use industries. China is the chief contributor in this region.
The magnesium oxide market in North America is predicted to have the second-largest share in the market over the forecast period. Factors aiding growth in the region include growing demand for agricultural products, increasing investment in private and public infrastructural development, and growing demand for refractory material in the ceramics, glass, and steel industry. The US as well as Canada are the leading contributors in this market.
The magnesium oxide market in Europe is predicted to have favorable growth over the forecast period. Factors aiding growth in the market include the presence of a strong economy, rapid urbanization, flourishing food industry where it is used as a food additive and increasing use in the medical sectors for treating low blood magnesium, magnesium deficiency, and other conditions.
The magnesium oxide market in the MEA is predicted to have a steady growth over the forecast period. Factors aiding growth in the market include growing industrialization, growing economy, and its use as a filler in an electric insulating material that is used to make insulated conduits, smelters, and crucibles due to the metal having a wonderful insulating tendency.
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