Magnesium Oxide Market Size, Historical Growth, Analysis, Opportunities and Forecast
Magnesium Oxide Market Overview
The magnesium oxide market share is likely to achieve a global CAGR of 5.34% during the ongoing forecast period 2021-2030. Magnesium, also called magnesia, is a hygroscopic compound made from magnetite ore. By the end of the forecast period in 2030, the market could reach a global market value of US$ 5.3765 billion.
competitive environment
The rising magnesium oxide market is due to the role of market participants such as:
- Premier Magnesia LLC (USA)
- RHI Magnesita NV (Austria)
- Ube Industries, Ltd. (Japan)
- Shinyo Mineral Group (India)
- Martin Marietta (USA)
- Kumas Magnesite Industry Inc (Türkiye)
- Greek Magnesite SA (Greece)
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technical analysis
Demand is growing in the animal feed segment, which has seen good growth in the market over the forecast period ending in 2030.
The surge in reliable livestock due to the large world population could change the size of the global magnesium oxide market . Caustic calcined magnesia is likely to increase over the forecast period, achieving a CAGR of 5%. The agricultural sector is witnessing great demand. , increasing use in magnesium wallboard applications will benefit the market. Growing demand for building materials in developing countries has been witnessed by surge in urbanization in the region, which is expected to boost the market share of magnesium oxide.
research purpose
- The Magnesium Oxide Market report understands the variables generating various reasons to help potential market financial investors and experts predict the market rate of CAGR growth that will continue to generate massive revenues and revenues. Market size by market initiative and player for the forecast period ending in 2028.
- The global market report covers factors and market elements such as drivers, restraints, opportunities, and difficulties that will influence the development of the market during the period covered. Additionally, the market report discusses global market segment assumptions that help create market scenarios based on the new requirements of the global target audience. This report follows the market period ending in 2030. Explore factors that can help you increase your chances. You can get better profitability.
- The market report likewise covers the recent market developments carried out by market participants over the forecast period 2021-2030, resulting in increased competition among market participants, building the potential for better development and expansion. fist.
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segment overview
The growth of the magnesium oxide market is due to driving market segments functioning in different regions of the world, such as:
by type
The DBM segment of the market is estimated to dominate the magnesium oxide market during the forecast period owing to its superior heat resistance coverage. This leads to a wide range of applications in the global market. This segment is estimated to achieve a global CAGR of 5.06%.
by application
Refractory applications, which is a small part of the market, is expected to emerge as a major segment as it is widely used in refractory applications due to its excellent heat resistance.
end user
As part of the market, the steel and glass industry sector is estimated to have a positive impact on the development of the magnesium oxide market in the coming years as part of the forecast period.
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regional analysis
The APAC region is likely to achieve the largest market growth and is witnessing the emergence of factors such as industrial finance, industrial automation, and industrial development that have enhanced the region over the forecast period. Asia Pacific emerged as a major growth region in terms of value during the forecast period towards the end of 2019. It is expected to develop and achieve a global CAGR of 5.64% by the end of 2030 . expectation.
recent development
November 2021 – LIG Assets, a real estate investment firm, announced a significant investment in Foreverboard, Inc. for the co-development of Foreverboard's expansion plant. Foreverboard was developed to fabricate and manufacture high-quality magnesium oxide wallboard that is healthier, lighter, stronger, mildew and fire resistant than conventional gypsum wallboard.
LIG assets target major expansion development in northern Indiana. As Foreverboard's primary sales focus is the sustainable housing market, there are ample opportunities to sell products in the RV and industrial housing markets. This place is near his RV center of the world. Details of this transaction will be revealed in the coming years.
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