Magnesium Oxide Market Forecasts to 2028 – Global Analysis By Product (Magnesium Hydroxide, Magnesium Ingot), Type (CCM, DBM, FM), Application (Agriculture, Rubber, Food, Cosmetic), Channel (Online, Offline) and By Geography
According to Stratistics MRC, the Global Magnesium Oxide Market is accounted for $4,145.08 million in 2020 and is expected to reach $7,305.09 million by 2028 growing at a CAGR of 7.3% during the forecast period. Surging demand from refractory materials, increasing adoption of magnesium oxide from different industries and escalated demand from steel and iron industries are driving the market growth. However, increasing preference for alternatives and health related side effects of magnesium oxide are hampering the growth of the market.
Magnesium oxide is an alkaline earth solid white metal oxide and majority of it is obtained from calcination of naturally occurring minerals. Other main sources of magnesium oxide are seawater, underground deposits of brine and deep salt bed. It is highly pure in nature and with no taste or color. Magnesium oxide has a high melting point with high strength, temperature resistance, and high corrosion resistance.
Based on the type, the dead burned magnesia segment is going to have lucrative growth during the forecast period due to its excellent heat resistivity range, and as it is the primary component in refractory materials, thus leading to its widespread application in the market. By geography, North America is going to have high growth during the forecast period in terms of revenue as compared to that of markets in other regions as United States is leading in the world’s largest magnesium oxide industry in North America. This is attributed to well-developed application sectors in the region such as chemical industry, medical industry, and cement industry.
Some of the key players profiled in the Magnesium Oxide Market include Martin Marietta, Grecian Magnesite S.A., Ube Industries Ltd, Tateho Chemical Industries Co., Baymag Inc, Ube Industries Ltd,Qinghua Refractory Group Ltd, Dashiqiao Huamei Group, ICL Industrial Products: ICL IP, RHI Magnesita, PremierMagnesia LLC, Magnezit Group, Nedmag BV and Wuxi Zehui Chemical Co., Ltd.
Estimated Market Size in 2020:
USD 4,145.08 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 7,305.09 million
Tables, Graphs& Figures
Product, Type, Application, Distribution Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• High Grade Magnesium Oxide
• Magnesium Hydroxide
• Magnesium Ingot
• Synthetic Magnesium Oxide
• Caustic Calcined Magnesia (CCM)
• Light Burned Magnesium Oxide
• Dead Burned Magnesia (DBM)
• Hard Burned Magnesium Oxide
• Fused Magnesia (FM)
• Paper & Pulp
• Medical / Pharmaceutical
• Veterinary Drugs
• Water Treatment
• Chemical Intermediates
• Oriented Silicon Steel
Distribution Channels Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Magnesium Oxide Market is majorly driven by increasing adoption of magnesium oxide from different industries, surging demand from refractory materials and escalated demand from steel and iron industries.
The dead burned magnesia segment is growing at a highest CAGR due to its excellent heat resistivity range, and as it is the primary component in refractory materials.
Asia Pacific dominated with a significant market share due to occurrence of chief agrarian economies and the increasing industrialization demanded the need for refractory materials particularly in the iron & steel industry.
North America market is growing at a highest CAGR owing to the well-developed application sectors in the region such as chemical industry, medical industry, and cement industry.
Key players in Magnesium Oxide Market include Martin Marietta, Grecian Magnesite S.A., Ube Industries Ltd, Tateho Chemical Industries Co., Baymag Inc, Ube Industries Ltd,Qinghua Refractory Group Ltd, Dashiqiao Huamei Group, ICL Industrial Products: ICL IP, RHI Magnesita, Premier Magnesia LLC, Magnezit Group, Nedmag BV and Wuxi Zehui Chemical Co., Ltd.
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