Future Market Insights, Inc.'s latest report projects a dynamic magnesium oxide market fueled by its unparalleled adaptability and crucial role in enhancing performance across industries. Discover deeper insights and identify lucrative stakeholder opportunities in this thriving market.
NEWARK, Del., Jan. 11, 2024 /PRNewswire/ -- The Global Magnesium Oxide Market value totaled US$ 4,363.2million in 2023 and is expected to reach US$ 8,310.7 million by 2033. Over the assessment period, global magnesium oxide demand is projected to surge at a CAGR of 6.6%.
Magnesium oxide DBM remains the widely used product in the market, holding a volume share of 56.9% in 2023. On the other hand, the CCM magnesium oxide segment is set to surge at a CAGR of 6.5% through 2033.
Request Exclusive Sample Report: Magnesium Oxide Market Strategic Insights, https://www.futuremarketinsights.com/reports/sample/rep-gb-1622
The global magnesium oxide market presents a dynamic landscape driven by its versatile applications across several industries and its fundamental role in enhancing the performance of diverse products and processes. Magnesium oxide (MgO) finds substantial traction due to its unique properties and wide-ranging uses.
Magnesium oxide's adaptability and indispensable role across diverse sectors will likely boost market growth. From reinforcing industrial processes to contributing to agricultural productivity and environmental remediation, magnesium oxide stands as a versatile and essential compound.
The construction industry is a prominent user of magnesium oxide, where it finds application in refractory cement and insulation materials. With the construction sector witnessing robust growth globally, the demand for magnesium oxide is expected to rise significantly.
The global magnesium oxide market is influenced by factors such as industrialization, infrastructure development, technological advancements, and environmental considerations. Similarly, the rising usage of magnesium oxide in the pharmaceutical sector will likely boost sales.
Key Takeaways from the Report-
- The global market for magnesium oxides is projected to thrive at 6.6% CAGR through 2033.
- By product type, the magnesium oxide DBM segment is expected to total US$ 4,806.1 million by 2033.
- Based on application, the refractory segment is set to hold a market share of 58.2% in 2023.
- East Asia is expected to account for a significant share of about 54.6% in 2033.
- The United States industry value is predicted to total US$ 335.6 million by 2033.
- China is projected to attain a valuation of US$ 4,190.6 million by 2033.
- Sales in India are predicted to rise at 9.4% CAGR through 2033.
"Expanding industrial sectors like construction and refractories, coupled with escalating environmental regulations, is expected to provide the impetus for the growth of the magnesium oxide market during the forecast period," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Magnesium Oxide Industry Research Scope
Attribute | Details | ||
Estimated Market Size (2023) | US$ 4,363.2 million | ||
Projected Market Size (2033) | US$ 8,310.7 million | ||
Anticipated Growth Rate (2023 to 2033) | 6.6 % | ||
Historical Data | 2018 to 2022 | ||
Forecast Period | 2023 to 2033 | ||
Quantitative Units | Value (US$ million) and Volume (metric tons) | ||
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | ||
Market Segments Covered | By Product Type:
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Key Countries Covered |
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Who is Winning?
RHI Magnesita, Grecian Magnesite S.A, Martin Marietta Materials Inc., Ube Corporation, and Premier Magnesia are the leading magnesium oxide manufacturers profiled in the full version of the report.
Key companies are focusing on increasing their production capacities to meet growing end-user demand. They are establishing new manufacturing plants and integrating advanced mining and extraction technologies. Several players also employ strategies like acquisitions, partnerships, and collaborations to stay ahead of the competition.
Key Companies Profiled:
- RHI Magnesita
- Grecian Magnesite S.A
- Martin Marietta Materials Inc
- Ube Corporation
- Premier Magnesia, LLC
- Israel Chemicals Ltd.
- Kumas Manyezit Sanayi A.S
- Konoshima
- Nedmag
- Nanoshel
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Recent Development:
- In January 2023, RHI Magnesita announced the complete acquisition of Dalmia Bharat Refractories Limited.
More Insights into the Magnesium Oxide Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global magnesium oxide market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the report is segmented based on product type, application, and region.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on 'green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing - 'The Way Forward'.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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