Magnesium Oxide Market is predicted to reach USD 5.589949321 billion at a CAGR of 5.34% during the forecast period

Pune, India, June 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Magnesium Oxide Market.

Market Synopsis

The magnesium oxide market share is likely to attain a global CAGR of 5.34% during the ongoing forecast period of 2023 - 2032. By the end of the forecast period in 2032, the market is likely to attain a global market value that accounts for USD 5.589949321 billion.

Magnesium oxide is an inorganic salt of magnesium formed with ions of magnesium and oxygen. magnesium reagent is an important material used to desulfurize hot metal during the steelmaking process, along with calcium-carbide and high-grade injectable lime. Of these three, magnesium gives the best low sulfur level results.

Magnesium oxide is used in refractory products, including refractory bricks, castable, monolithic gunning mixes, and other refractory applications for iron making, steel making, and foundry applications with high temperature and corrosion resistance are essential. Hence, increasing demand for high-value refractory materials in several industries is projected to boost global demand.

Competitive Landscape

The global market for magnesium oxide is projected to witness healthy growth during the forecast period, owing to the increasing demand from steel, glass, & ceramic industries as a refractory material. Furthermore, the growing chemical industry is expected to drive the growth of the magnesium oxide market during the forecast period. Manufacturers are struggling to increase production capacities by using cost-effective manufacturing techniques. The global market represents strong numbers in terms of consumption.

 RHI Magnesita N.V (Europe), Martin Marietta (US), Grecian Magnesite S.A (Europe), PremierMagnesia LLC (US), Ube Industries Ltd (Japan), Kümaş Magnesite Industry Inc (Turkey), Xinyang Mineral Group (China), ICL (Israel), SMZ, a.s. Jelšava (Europe), Tateho Chemical Industries Co. (Japan), and Baymag Inc (North America) are the key players operating in the global magnesium oxide market. The global market remains highly fragmented with the majority of tier-1 players, with leaders including RHI Magnesita N.V (Europe), Martin Marietta (US), Grecian Magnesite S.A (Europe), PremierMagnesia LLC (US), Ube Industries Ltd (Japan) hold the largest share of the global magnesium oxide market.

Segmentation

By Type

• Dead Burned Magnesia : Dead burned magnesia (DBM) is manufactured by calcining caustic calcined magnesia at the temperature range. DBM has low chemical reactivity and high thermal resistivity due to its high calcination temperature. DBM is used in high-temperature furnaces as a refractory lining.


• Calcined Burned Magnesia : Caustic burned magnesia (CBM) is produced either by electrolysis of brine or pyrolysis of magnesite ores. It is produced at relatively low calcination temperatures ranging from 700°C to 1,500°C. CCM is used in various industries, from agriculture to construction. Caustic calcined magnesia has the highest chemical reactivity and lowest thermal resistivity among magnesium oxide products.


• Fused Magnesia : Fused magnesia (FM) or electro fused magnesia is subjected to the highest calcination temperature, i.e., more than 2,000°C, thus having high-temperature resistivity and lowest chemical reactivity. It is a high-cost product due to the high energy required to calcine the product. It is produced by calcining dead burned magnesia at the calcination temperature in EAF (electric arc furnace).

By Purity

• 2N: "Magnesium oxide" usually refers to MgO, the compound magnesium peroxide MgO2 is also recognized. MgO2 is thermodynamically stable at pressures above 116 GPa (gigapascals), and a semiconducting suboxide Mg3O2 is thermodynamically stable at pressures beyond 500 GPa, according to evolutionary crystal structure predictions.


• 3N: In 3N purity, Alkaline-earth metals with a silvery, somewhat hard surface may be manufactured using any normal process. The lightest structural metal. A powerful reducing agent. Electrical conductivity is comparable to that of aluminum. Insoluble in water, yet soluble in acids.


• 4N: Exceptional purity magnesium oxide (or magnesia, MgO) powder with a purity of 99.99 percent is used in laser filter glass and optical ceramics, medicines, solid oxide fuel cells (SOFCs), electronics, and as a raw material for the production of other ceramics. High purity electrically fused MgO powder is a stable temperature material that can withstand extreme temperatures, making it ideal for usage as a thermal barrier coating (TBC), insulator, and raw material for the manufacture of refractory ceramic parts in extreme conditions.


• 5N: Light magnesium oxide is a bulky white powder, whereas heavy magnesium oxide is a comparatively dense white powder. A volume of 40 to 50 ml holds 5 g of light magnesium oxide, while a volume of 10 to 20 ml holds 5 g of heavy magnesium oxide. The magnesium oxide in this high-purity product is at least 99.99 percent pure, with very few contaminants. It is the purest magnesium oxide product currently available on the market.

By Application

• Refractory: Refractory prominently consumes DBM and FM, owing to their high-temperature resistance. The segment’s growth depends on end-use industries: glass, ceramic, steel, and other non-ferrous metal industries. MgO has a very high melting point. It has a high heat conductivity but a low electrical conductivity. As a result, it is employed as a refractory material.


• Agriculture : Agriculture is the second-largest and steadily growing application of magnesium oxide. Agriculture comprises two major applications, namely, fertilizers and animal feed. Magnesium oxide is used in this industry as a source of magnesium micronutrient. With increasing food production and rising demand for animal feed driven by animal meat production, the demand for magnesium oxide in the agriculture industry has increased.


• Chemical Intermediate: Chemical intermediate is another significant application of magnesium oxide, where it is consumed as a source of magnesium. The most chemically active magnesium oxide, CCM, is usually used as a chemical intermediate to produce various magnesium derivatives. For the MgO-based wet oxidation process, a simple alkali recovery approach is described, followed by pretreatment with MgO-based WO.


• Construction: In the construction application, magnesium oxide powder is used to fabricate magnesium wallboards. Magnesium wallboards are replacing gypsum wallboards, owing to their lightweight characteristics. The segment is projected to witness high demand led by the Asia-Pacific construction industry. The segment will create lucrative opportunities in the Asia-Pacific market.


• Others: The others segment comprises niche magnesium oxide applications such as water treatment and flue gas desulphurization. Magnesium oxide is used as a neutralizer in such applications. Some emerging markets, such as India, are at the forefront of magnesium oxide consumption in water treatment chemicals.

By Region

• North America: The world's largest magnesium oxide market, North America, is led by the US, which is predicted to maintain its hegemony over the forecast period. The US is in the spotlight for stakeholders in the magnesium oxide business due to advanced industrial sectors and manufacturing infrastructure.


• Europe: Germany has led the European magnesium oxide market, and it is expected to continue to do so throughout the projected period. Germany's economy is fueled by rapidly growing manufacturing centers and increased demand from the agricultural, refractory, and other industrial sectors.


• Asia Pacific: China is the epicenter of Asia-Pacific's fastest-growing magnesium oxide industry, Due to its well-developed industries and advanced production facilities, India has been in the spotlight for magnesium oxide manufacturers for the past decade.


• Latin America: Latin America is expected to be the second-largest market for calcined magnesium oxide. Refractory is the largest market in Mexico. Brazil dominated the market.


• Middle East & Africa: Growing demand for magnesium wallboard in the construction industry, water treatment applications, animal feed and fertilizer applications. Turkey dominates the market, and Israel is the second-largest market.