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In terms of revenue, the magnesium oxide market was worth $3.8 billion in the year 2022. During the projection period (2023 - 2030), the Magnesium Oxide market is expected to expand from USD3.6869 Billion in 2023 to USD 5.589949321 billion, expanding at a CAGR (compound annual growth rate) of 6.34%. Magnesium oxide is mostly used in the iron and steel industry. The primary market drivers boosting global expansion include the rising demand for refractory materials in the steel, glass, and ceramic sectors.
Suppliers are expanding to meet the rising demand from industries such as agriculture, refractories, and others. The value of the sector is expected to rise even higher in the near future as a result of a flurry of inventions in various forms of magnesium oxide, such as dead burnt magnesia and fused magnesia, by manufacturers. Future Market Insights' (FMI) most recent report on the magnesium oxide market study provides an in-depth evaluation of the industry's potential, its key driving & restraining forces, and demand-supply patterns from 2023 through 2033. Overall, the analysis predicts that 20+ nations will retain good market outlooks during the forecast period, with the United States, Germany, China, Japan, and a few other countries emerging as particularly lucrative. Magnesium oxide is used in the pharmaceutical and medical industries. Indigestion, heartburn, and other digestive issues are treated with this drug. It's also a good source of magnesium, which makes it useful in a variety of medicines and supplements. The rising interest in heath and wellness could be good news for the medical and pharmaceutical industries.
Magnesium oxide sales have been significantly impacted by the global spread of the COVID-19 pandemic, which has also had an impact on production and promotion. Since the global coronavirus pandemic's arrival in March 2020, the vast majority of assembly and manufacturing units have either shut down due to the lockdown and limitations forced, or given up in rising competition and further, constrained the stoppage of the market endeavours as there has been a decrease in the accessibility of market assets and raw materials for optimal production. Extreme working hours and the weight of norms on skilled labour are further impeding market tasks.
Environmental uses of magnesium oxide are also gaining popularity. Desulfurization agents use it to cut down on sulphur emissions, making power plants more environmentally friendly. Magnesium oxide is also used for soil remediation, air purification, and wastewater treatment. Magnesium oxide is in high demand in various industries due to the increasing awareness and adoption of environmental protection measures. The market's CAGR is being pushed by this aspect.
Magnesium oxide's rising demand from refractories is a key element propelling the market forward. Coherent Market Insights reports that the refractory sector is one of the fastest-growing markets for magnesium oxide, accounting for an estimated 54.8% of global consumption. The iron and steel industry was the largest consumer of refractories (74%), followed by the cement and lime industry (13%). Magnesium oxide sales are projected to rise as global glass manufacturing rises. The European Container Glass Federation reported in 2022 that over the first and second halves of the year, production of glass packaging rose by 3 percent in both tonnes and units. Comparing the second half of 2020 to the first half of 2021, overall sales increased by 8.0% in tonnes and 8.5% in units.
Report Coverage
Global Magnesium Oxide research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Magnesium Oxide report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Magnesium Oxide competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Magnesium Oxide market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Magnesium Oxide market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Magnesium Oxide market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
RHI Magnesita N.V (Europe), Martin Marietta (U.S.), Grecian Magnesite S.A. (Europe), PremierMagnesia LLC (U.S.), Ube Industries Ltd (Japan), KumaşMagnesite Industry Inc (Turkey), Xinyang Mineral Group (China), ICL (Israel), SMZ, a.s. Jelšava (Europe), Tateho Chemical Industries Co. (Japan), and Baymag Inc (North America)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Magnesium Oxide market based on the below-mentioned segments:
Global Magnesium Oxide Market, By Type
Dead Burned Magnesia
Caustic Calcined Magnesia
Fused Magnesia
Global Magnesium Oxide market, By Application
Refractory
Agriculture
Chemical Intermediates
Construction
Global Magnesium Oxide market, Regional Analysis
Suppliers are expanding to meet the rising demand from industries such as agriculture, refractories, and others. The value of the sector is expected to rise even higher in the near future as a result of a flurry of inventions in various forms of magnesium oxide, such as dead burnt magnesia and fused magnesia, by manufacturers. Future Market Insights' (FMI) most recent report on the magnesium oxide market study provides an in-depth evaluation of the industry's potential, its key driving & restraining forces, and demand-supply patterns from 2023 through 2033. Overall, the analysis predicts that 20+ nations will retain good market outlooks during the forecast period, with the United States, Germany, China, Japan, and a few other countries emerging as particularly lucrative. Magnesium oxide is used in the pharmaceutical and medical industries. Indigestion, heartburn, and other digestive issues are treated with this drug. It's also a good source of magnesium, which makes it useful in a variety of medicines and supplements. The rising interest in heath and wellness could be good news for the medical and pharmaceutical industries.
Magnesium oxide sales have been significantly impacted by the global spread of the COVID-19 pandemic, which has also had an impact on production and promotion. Since the global coronavirus pandemic's arrival in March 2020, the vast majority of assembly and manufacturing units have either shut down due to the lockdown and limitations forced, or given up in rising competition and further, constrained the stoppage of the market endeavours as there has been a decrease in the accessibility of market assets and raw materials for optimal production. Extreme working hours and the weight of norms on skilled labour are further impeding market tasks.
Environmental uses of magnesium oxide are also gaining popularity. Desulfurization agents use it to cut down on sulphur emissions, making power plants more environmentally friendly. Magnesium oxide is also used for soil remediation, air purification, and wastewater treatment. Magnesium oxide is in high demand in various industries due to the increasing awareness and adoption of environmental protection measures. The market's CAGR is being pushed by this aspect.
Magnesium oxide's rising demand from refractories is a key element propelling the market forward. Coherent Market Insights reports that the refractory sector is one of the fastest-growing markets for magnesium oxide, accounting for an estimated 54.8% of global consumption. The iron and steel industry was the largest consumer of refractories (74%), followed by the cement and lime industry (13%). Magnesium oxide sales are projected to rise as global glass manufacturing rises. The European Container Glass Federation reported in 2022 that over the first and second halves of the year, production of glass packaging rose by 3 percent in both tonnes and units. Comparing the second half of 2020 to the first half of 2021, overall sales increased by 8.0% in tonnes and 8.5% in units.
Report Coverage
Global Magnesium Oxide research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Magnesium Oxide report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Magnesium Oxide competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Magnesium Oxide market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | RHI Magnesita N.V (Europe), Martin Marietta (U.S.), Grecian Magnesite S.A. (Europe), PremierMagnesia LLC (U.S.), Ube Industries Ltd (Japan), KumaşMagnesite Industry Inc (Turkey), Xinyang Mineral Group (China), ICL (Israel), SMZ, a.s. Jelšava (Europe), Tateho Chemical Industries Co. (Japan), and Baymag Inc (North America) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Magnesium Oxide Market from 2021 to 2030.
- Market Forecast for Magnesium Oxide Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Magnesium Oxide competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Magnesium Oxide
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Magnesium Oxide market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Magnesium Oxide market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
RHI Magnesita N.V (Europe), Martin Marietta (U.S.), Grecian Magnesite S.A. (Europe), PremierMagnesia LLC (U.S.), Ube Industries Ltd (Japan), KumaşMagnesite Industry Inc (Turkey), Xinyang Mineral Group (China), ICL (Israel), SMZ, a.s. Jelšava (Europe), Tateho Chemical Industries Co. (Japan), and Baymag Inc (North America)
Primary Target Market
- Market Players of Magnesium Oxide
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Magnesium Oxide market based on the below-mentioned segments:
Global Magnesium Oxide Market, By Type
Dead Burned Magnesia
Caustic Calcined Magnesia
Fused Magnesia
Global Magnesium Oxide market, By Application
Refractory
Agriculture
Chemical Intermediates
Construction
Global Magnesium Oxide market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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