Demand from Industrial Sector Driving Sales in Magnesium Oxide Market: FMI

JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES, January 20, 2022 /EINPresswire.com/ -- The global magnesium oxide market is forecast to grow at 5% CAGR throughout the forecast period from 2021 to 2031. Increasing research and development activities conducted to study application of dead burned magnesia and fused magnesia is one of the key factors driving the magnesium oxide market, finds ESOMAR-certified consulting firm Future Market Insights in this study.

Surging government investment in agricultural and industrial sector will boost the market. Rising demand of magnesium oxide in development of refractory linings of furnace in iron and steel industry will positively influence the market growth.

According to the European Commission (EC), the European Union (EU), 1.3% to the EU-27’s Gross Domestic Product (GDP) was contributed by agriculture. With soaring industrialization and development in the field of agriculture, high growth in magnesium oxide market is on the card.

“High acid neutralizing capabilities of magnesium oxide has made it popular as lime alternative in waste treatment facilities, thus elevating the magnesium market growth”, remarks the FMI analyst.

Request a report sample with 200 pages to gain comprehensive insights at https://www.futuremarketinsights.com/reports/magnesium-oxide-market

Key Takeaways

The U.S. is the dominant market for magnesium oxide in North America. Growth in the U.S. will be driven by rising adoption of magnesium oxide in biomedical applications and rapid advancement in manufacturing sector and industrial infrastructure.

Europe is expected to showcase positive growth trajectory during the forecast period. Surging demand from agricultural sector and consistently evolving industrial domain will create growth opportunities.

China dominates the magnesium oxide market in the Asia pacific on the back of booming industrial sector and soaring demand for dead burned magnesia.

India is offering lucrative growth opportunities for magnesium oxide market. With establishment of modern industries and manufacturing units coupled with increasing use of magnesium oxide in refractories and agricultural sector, market sales are expected to skyrocket during the forecast period.

Rising demand of magnesium oxide for filtration of heavy metals in wastewater treatment drives the market growth.

Prominent Drivers

Increasing use of magnesium oxide in fertilizer manufacturing and other agro-based applications is driving the magnesium oxide market sales.
Introduction of magnesium oxide in waste water management process is further fuelling the market demand.

Surging use of magnesium oxide in manufacturing aluminum-magnesium alloys for various aerospace and automotive based applications will magnify the market growth.

Key Restraints

Processing of magnesium oxide is a tedious, complex and costly affair restricting the market growth.

Magnesium oxide production requires special set of expensive lab equipments and highly skilled operator for handling purposes. High cost of lab set-up and lack of skilled operator restricts the market growth.

Stringent environmental rules and regulations imposed due to toxic nature of magnesium oxide fumes restrain the market growth.

Discover more about the magnesium oxide market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/sample/rep-gb-1622

Competitive Landscape

Leading players profiled by FMI operating in magnesium oxide market include Grecian Magnesite S.A., Ube Industries Ltd., Magnezit Group Europe GmbH, Kuma, Xinyang Mineral Group, Israel Chemical Ltd, Manyezit Sanayi A., MagnesitaRefratarios S.A., Robert Half International AG, Premier Magnesia LLC, Martin Marietta Inc.

According to FMI, leading players are emphasizing on developing new products using modern technologies to survive in the competitive market. For instance, a whole new range of Caustic Calcined Magnesia, Magnesium Carbonate, Dunite, was launched by Grecian Magnesite S.A.in recent years. Recently new variety of Magnesium Oxysulphate Whisker, MOS-HIGE^® was launched by Ube Industries Ltd.

More Insights on FMI’s Magnesium market

The latest market study on global magnesium market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of product type (Dead Burned Magnesia, Caustic Calcined Magnesia, Fused Magnesia), Application (Industrial, Refractories, Agricultural, Others ) and across major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).

Explore FMI’s Extensive Coverage on Chemicals and materials Domain

Lauryl Dimethyl Amine oxide market: The global lauryl dimethyl amine oxide market report by FMI gives an in-depth insight on the future expansion prospects, trends and challenges that market is likely to face in the upcoming decade. Key statistics regarding key segments have been presented across prominent geographies, along with a detailed assessment of the market’s competitive landscape.

Bismuth oxide market: The bismuth oxide market study published by FMI offers a comprehensive analysis and focused views on major trends expected to provide shape to future growth prospects. The report provides detailed analysis of the significant drivers, trends, challenges and opportunities prevailing for the forthcoming decade across key geographies along with competitive landscape of the upcoming decade.

Calcium oxide market: Future Market Insights gives a detailed segmentation on the global calcium oxide market with upcoming market trends, challenges and future growth dynamics across key geographies and prominent segments. The report provides a holistic approach, mapping the competitive landscape with detailed analysis on established players, new entrants, and opportunities likely to prevail across the 2021-2031 decade.

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 UK, U.S. and India. FMI's latest market research reports and industry analysis help 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.


Contact:

Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Report: https://www.futuremarketinsights.com/reports/magnesium-oxide-market
Press Release Source: https://www.futuremarketinsights.com/press-release/magnesium-oxide-market

ankush Nikam
FMI
+91 9096684197
email us here