Global Magnesium Oxide market was valued at US$ XX Mn in 2017, and is expected to reach US$ XX Mn by 2026, at a CAGR of XX % during forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Magnesium Oxide market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Magnesium Oxide market The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. The growing demand for magnesium oxide from refractory for material in furnaces, kilns, incinerators, and reactors among others is positively contributing to the growth of the magnesium oxide market. Thereby, the rising industrialization in the emerging economies is considered to boost the growth of the global magnesium oxide market. Due to its exceptional properties such as high thermal conductivity, low electrical conductivity is increasing its applicability in refrigeration, thermocouple tubes, brake linings, cements, and heating elements. Moreover, use of magnesium oxide in animal feed for magnesium nutrition in animals is expected to drive growth of the global magnesium oxide market. The growth in the ceramics, nonferrous metal and chemical industry coupled with the increasing glass production is also positively affecting the global magnesium oxide market. Moreover, the growing demand for magnesium oxide in fertilizers and animal feed is also contributing to the market growth. However, Health-related side effects of magnesium oxide such as itching, rash, weakness, stringent government regulation regarding the use of magnesium oxide are the major factors expected to restrain the growth of the global magnesium oxide market. New technological for the synthesis of multifunctional magnesium oxide by the various method and use of Nano-crystalline magnesium oxide recyclable catalyst for Wittig is expected to present new opportunities to market players who operating in the global magnesium oxide market. Dead Burned Magnesia product type is expected to dominate the magnesium oxide market during forecast period. Dead burned magnesium oxide has been calcined at temperatures ranging from 1500ºC – 2000ºC in a high temperature shaft kiln yielding a material with very little reactivity. Products by this process are high purity, dead burned magnesium oxides with high density and low reactivity. Further, these products are well suited in the manufacture of magnesia carbon refractory bricks, monolithic gunning refractories, specialty refractory Applications (precast shapes and castables), and miscellaneous ceramics. Geographically, Asia Pacific held a lion’s share in terms of volume owing to increase in demand for refractory materials in China, India, and other Asian countries. Increasing industrialization has further increased the demand for refractory materials, particularly in the iron and steel industry, which has stimulated market growth in the region.