Reports And Data

Surging demand for refractories from the steel and cement industries, among others, is one of the significant factors influencing the market growth.

NEW YORK CITY, NY, UNITED STATES, March 13, 2022 /EINPresswire.com/ -- The global Magnesium Oxide Market is expected to reach USD 8.43 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to growing applications of magnesium oxide.

Magnesium oxide finds widespread application in the steel industry as a refractory product. It is frequently impregnated with carbon (for instance, pitch, tar, and graphite) to offer the best features for corrosion resistance in atmospheres of basic slags, specifically in slag lines of treatment ladles or BOF (Basic Oxygen Steelmaking) furnaces. Monolithic gunnables, spinel formulations, castables, and magnesia carbon-based refractory bricks, all produced using magnesium oxide, are extensively used for the purpose of basic steel refractory linings. Moreover, these products find application in ferroalloy, glass, and ceramic kiln applications, among others.

Growing demand for magnesium oxide in the construction industry is expected to grow at the fastest rate in the forecast period. It is utilized as a constituent of cement mixture for use in residential and commercial construction of buildings. Depending on the proportion of magnesium oxide mixed, it can be deployed in an extensive range of general building applications that require mold and mildew control, fire resistance, and sound control, among other benefits. Magnesium oxide, being an environmentally friendly building material, may be drilled, sawed, and fastened to wood or steel framing.

Magnesium oxide is popular as a supplement for magnesium deficiency in soils, particularly for crops comprising potatoes, citrus fruits, vegetables, and grass pastures. CropMag^®, by Martin Marietta, is a high purity agricultural grade magnesium oxide, which offers a source of magnesium as a nutrient. CropMag is beneficial in correcting magnesium deficits in a broad range of soils and crops.

Receive a sample copy of the global market report, visit @ https://www.reportsanddata.com/sample-enquiry-form/2649

Key participants include Martin Marietta, Grecian Magnesite SA, Ube Industries, Xinyang Mineral Group, RHI Magnesita NV, Premier Magnesia LLC, Kumas Magnesite Industry Inc., Baymag Inc., Tateho Chemicals Industries Co., and Imerys SA, among others.

Further key findings from the report suggest

By product type, dead burnt magnesium oxide contributed to the largest market share in 2018 and is likely to grow at a rate of 3.8% in the forecast period. The high demand for this product type is owing to its usage in the production of refractories used in the steel and cement industries, among others.

By distribution channel, the online distribution channel is projected to witness a faster growth rate in the period 2019-2027.

By application, the construction industry is projected to grow at a rate of 4.5% in the forecast period.

The market in the Asia Pacific region held the largest market share in 2018 and is estimated to have a CAGR of 4.3% in the forecast period. The market dominance of the APAC region is owing to rapid industrialization and urbanization, along with infrastructural development leading to an increase in demand for magnesium oxide in several end-use applications.

Receive Download Summary: https://www.reportsanddata.com/download-summary-form/2649

For the purpose of this report, Reports and Data have segmented the global magnesium oxide market on the product type, distribution channel, application, and region:

Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Dead Burnt Magnesium Oxide

Caustic Calcined Magnesium Oxide

Fused Magnesium Oxide

Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Online

Offline

Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Refractory

Construction

Agriculture

Chemical

Others

Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/2649

Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

North America

Europe

Asia Pacific

Latin America

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:

Roof Coatings Market@ https://www.reportsanddata.com/press-release/global-roof-coatings-market

Textile Dyes Market@ https://www.reportsanddata.com/press-release/global-textile-dyes-market

Organic Pigments Market@ https://www.reportsanddata.com/press-release/global-organic-pigments-market

Diamond Coatings Market@ https://www.reportsanddata.com/press-release/global-diamond-coatings-market

About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Tushar Rajput
Reports and Data
+1 212-710-1370
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.