Magnesium Oxide Market Overview
The global magnesium oxide market size was worth USD 6.8 billion in 2021 and is estimated to grow to USD 10.10 billion by 2030, with a CAGR of approximately 4.50 percent over the forecast period.
Magnesium oxide, often known as magnesium, is a white, alkaline substance that naturally occurs in the earth’s crust. It is made from the calcination of naturally occurring minerals and is extremely pure. It has no taste or color. High strength, thermal resistance, and high corrosion resistance go hand in hand with its high melting point. It is either extracted from the magnesite ores using the pyrolysis method or recovered from the seawater’s electrolysis method. Due to its many uses in the construction, chemical, steel, and medical industries and other industrial sectors, magnesium oxide is in high demand. This demand is anticipated to be the main factor propelling the magnesium oxide market during the anticipated period. Magnesium oxide is a perfect material for refrigeration, thermocouple tubes, cement, brake linings, and heating components due to its low electrical and high thermal conductivity features. Additionally, it is projected that using magnesium oxide in livestock feed will increase the global demand for magnesium oxide by supplying animals with nourishment from magnesium.
Magnesium Oxide Market Drivers:
One of the main factors boosting the growth of the magnesium oxide market is the rising steel output. The need for refractory grade magnesium oxide, also known as dead-burned magnesia, which acts as both protective and replacement linings for equipment used to handle molten steel, has increased due to a growth in worldwide steel production. Due to increasing steel production, the world’s consumption of dead-burned and fused magnesia rose by 7% in the first eight months of 2018 compared to the same time in 2017. Therefore, it is anticipated that increased steel production will fuel demand for magnesium oxide during the forecast period.
Magnesium Oxide Market: Restraints
Magnesium oxide is considered detrimental to people because it causes rashes, itching, and other skin-related problems when it comes in contact with people’s skin. Another significant hindrance to the expansion of the global industry is the growing difficulty of replacing graphite and silicon carbide due to their similar physical and chemical qualities. Additionally, it is anticipated that several laws passed to reduce environmental emissions from steel and other industries may hinder the expansion of the magnesium oxide market in the years to come.
Magnesium Oxide Market: Segmentation
The magnesium oxide market has been segmented into product type and application.
Based on product type, the magnesium oxide market is divided into dead burned magnesia, caustic calcined magnesia, and fused magnesia. Among these, the caustic calcined magnesia segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Most often, synthetic spinel is made using caustic calcined magnesium oxide. Additionally, it is utilized as a raw material in manufacturing refractory materials and various other industrial processes, including manufacturing artificial fertilizer and water treatment. Besides this, the dead-burned magnesia category is expected to grow at the fastest rate throughout the forecast period because of its low reactivity and high density.
Based on application, the magnesium oxide market is classified into industrial, refractories, agricultural, and others. In 2021, the refractories category dominated the global market. Refractories are ceramic materials developed to satisfy the requirements of modern industrial methods. These substances are more heat-resistant than metals because they can sustain extremely high temperatures. Due to their capacity to maintain physical and chemical stability at high temperatures, these materials are used to make the inside lining of the furnaces used in many industrial operations. On the other hand, the healthcare category is anticipated to grow significantly over the forecast period.
Magnesium Oxide Market: Regional Landscape
In 2021, the Asia Pacific dominated the market for magnesium oxide. It is commonly used in livestock feeds to suit the nutritional needs of the animals because agricultural activities are the region’s main source of income. The area’s market has expanded due to increased industrialization activities, abundant raw materials, and increased demand for refractory materials, which are mostly utilized in the iron and steel sector. Additionally, the region’s market is projected to be driven by the construction sector expansion due to government initiatives to upgrade the nation’s infrastructure and the abundance of ores found in China.
Magnesium Oxide Market: Competitive Landscape
Some of the main competitors dominating the global magnesium oxide market include- Martin Marietta Inc., Grecian Magnesite S.A., Premier Magnesia LLC, Ube Industries Ltd., Robert Half International AG, Magnezit Group Europe GmbH, Magnesita Refratarios S.A., Kuma, Manyezit Sanayi A., Xinyang Mineral Group and Israel Chemical Ltd.
Recent Developments
- December 2019: Leading manufacturer of high-grade magnesium oxide, Baymag Inc., announced the expansion of manufacturing west of Exshaw.
COVID-19 Impact on Magnesium Oxide Market:
The global Covid pandemic’s expansion has significantly impacted the magnesium oxide market and the development, production, and marketing of market items. Since the coronavirus pandemic broke out in March 2020, most manufacturing and assembly facilities have either been forced to close due to lockdowns and restrictions or have given up due to increased competition. This has further limited the ability of the market to halt undertakings because there are fewer resources available for optimal production and a reduction in the availability of raw materials.
Global Magnesium Oxide Market is segmented as follows:
Magnesium Oxide Market by Product Type
- Dead Burned Magnesia
- Caustic Calcined Magnesia
- Fused Magnesia
Magnesium Oxide Market by Product
- Bodywear
- Neckwear
- Headwear
- Wristwear
- Footwear
- Eyewear
Magnesium Oxide Market by Application
- Defense
- Healthcare
- Enterprise & Industrial Applications
- Fitness & Wellness
- Others
Magnesium Oxide Market by Region
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
| Magnesium Oxide Market Report Scope |
| Report Attribute | Details |
| Market Size Value in 2022 | USD 7.10 billion |
| Revenue Forecast in 2030 | USD 10.10 billion |
| Growth Rate | CAGR of 4.5 % from 2022 to 2030 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 – 2021 |
| Forecast Years | 2022 – 2030 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
| Segments Covered | Type, Product, Application, and Region |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled | Martin Marietta Inc., Grecian Magnesite S.A., Premier Magnesia LLC, Ube Industries Ltd., Robert Half International AG, Magnezit Group Europe GmbH, Magnesita Refratarios S.A., Kuma, Manyezit Sanayi A., Xinyang Mineral Group and Israel Chemical Ltd. |
Table of Content
Magnesium Oxide Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Type
1.4.2. Product
1.4.3. Application
2. Magnesium Oxide Market Overview
2.1. Introduction
2.2. Analysis by Type, 2017-2030 (US$ Billion)
2.3. Analysis by Product, 2017-2030 (US$ Billion)
2.4. Analysis by Application, 2017-2030 (US$ Billion)
2.5. Market Analysis by Region, 2017-2030 (US$ Billion)
3. Magnesium Oxide Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Types
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Type
3.6.2. Product
3.6.3. Application
3.6.4. Region
3.7. Value Chain Analysis
4. Magnesium Oxide Market Competition Analysis
4.1. Magnesium Oxide Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution
5. Global Magnesium Oxide Market Analysis by Type, Product, and Application, 2017-2030 (US$ Billion)
5.1. Type
5.1.1. Global Magnesium Oxide Market Share, by Type, 2021 and 2030
5.1.2. Global Magnesium Oxide Market Revenue, by Type, 2017-2030 (US$ Billion)
5.1.3. By Dead Burned Magnesia Market Analysis 2017-2030 (US$ Billion)
5.1.4. By Caustic Calcined Magnesia Market Analysis 2017-2030 (US$ Billion)
5.1.5. By Fused Magnesia Market Analysis 2017-2030 (US$ Billion)
5.1.6. By Type 4 Market Analysis 2017-2030 (US$ Billion)
5.2. Product
5.2.1. Global Magnesium Oxide Market Share, by Product, 2021 and 2030
5.2.2. Global Magnesium Oxide Market Revenue, by Product, 2017-2030 (US$ Billion)
5.2.3. By Bodywear Market Analysis 2017-2030 (US$ Billion)
5.2.4. By Neckwear Market Analysis 2017-2030 (US$ Billion)
5.2.5. By Headwear Market Analysis 2017-2030 (US$ Billion)
5.2.6. By Wristwear Market Analysis 2017-2030 (US$ Billion)
5.2.7. By Footwear Market Analysis 2017-2030 (US$ Billion)
5.2.8. By Eyewear Market Analysis 2017-2030 (US$ Billion)
5.3. Application
5.3.1. Market Share, by Application, 2021 and 2030
5.3.2. Market Revenue, by Application, 2017-2030 (US$ Billion)
5.3.3. By Defense Market Analysis 2017-2030 (US$ Billion)
5.3.4. By Healthcare Market Analysis 2017-2030 (US$ Billion)
5.3.5. By Enterprise & Industrial Applications Market Analysis 2017-2030 (US$ Billion)
5.3.6. By Fitness & Wellness Market Analysis 2017-2030 (US$ Billion)
5.3.7. By Others Application Market Analysis 2017-2030 (US$ Billion)
6. Global Magnesium Oxide Market Type Analysis by Region, 2017-2030 (US$ Billion)
6.1. Dead Burned Magnesia Market Analysis 2017-2030 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Caustic Calcined Magnesia Market Analysis 2017-2030 (US$ Billion)
6.3. Fused Magnesia Market Analysis 2017-2030 (US$ Billion)
6.4. Other Types Market Analysis 2017-2030 (US$ Billion)
7. Global Magnesium Oxide Market Product Analysis by Region, 2017-2030 (US$ Billion)
7.1. Bodywear Market Analysis 2017-2030 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Neckwear Market Analysis 2017-2030 (US$ Billion)
7.3. Headwear Market Analysis 2017-2030 (US$ Billion)
7.4. Wristwear Market Analysis 2017-2030 (US$ Billion)
7.5. Footwear Market Analysis 2017-2030 (US$ Billion)
7.6. Eyewear Market Analysis 2017-2030 (US$ Billion)
8. Global Magnesium Oxide Market Application Analysis by Region, 2017-2030 (US$ Billion)
8.1. Defense Market Analysis 2017-2030 (US$ Billion)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Healthcare Market Analysis 2017-2030 (US$ Billion)
8.3. Enterprise & Industrial Applications Market Analysis 2017-2030 (US$ Billion)
8.4. Fitness & Wellness Market Analysis 2017-2030 (US$ Billion)
8.5. Others Application Market Analysis 2017-2030 (US$ Billion)
9. Magnesium Oxide Market Analysis by Geography, 2017-2030 (US$ Billion)
9.1. North America Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.1.1. U.S. Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.1.1.1. Type
9.1.1.2. Product
9.1.1.3. Application
9.1.2. Canada Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.1.3. Mexico Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2. Europe Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2.1. UK Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2.1.1. Type
9.2.1.2. Product
9.2.1.3. Application
9.2.2. France Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2.3. Germany Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2.4. Spain Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2.5. Russia Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2.6. Italy Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.2.7. Rest of Europe Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3. Asia Pacific Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.1. China Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.1.1. Type
9.3.1.2. Product
9.3.1.3. Application
9.3.2. Japan Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.3. South Korea Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.4. India Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.5. Australia Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.6. Southeast Asia Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.7. Taiwan Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.3.8. Rest of Asia Pacific Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.4. Latin America Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.4.1. Brazil Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.4.1.1. Type
9.4.1.2. Product
9.4.1.3. Application
9.4.2. Argentina Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.4.3. Rest of Latin America Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.5. Middle East Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.5.1. Israel Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.5.1.1. Type
9.5.1.2. Application
9.5.2. Turkey Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.5.3. Saudi Arabia Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.5.4. UAE Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.5.5. Rest of Middle East Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.6. Africa Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.6.1. Egypt Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.6.1.1. Type
9.6.1.2. Product
9.6.1.3. Application
9.6.2. South Africa Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
9.6.3. Rest of Africa Magnesium Oxide Market Analysis 2017-2030 (US$ Billion)
10. Company Profiles
10.1. Martin Marietta Inc
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Strategic Initiatives
10.2. Grecian Magnesite S.A.
10.3. Premier Magnesia LLC
10.4. Ube Industries Ltd.
10.5. Robert Half International AG
10.6. Magnezit Group Europe GmbH
10.7. Magnesita Refratarios S.A.
10.8. Kuma, Manyezit Sanayi A.
10.9. Xinyang Mineral Group
10.10. Israel Chemical Ltd.
11. COVID-19 Impact Analysis
11.1. Global Magnesium Oxide Market, 2020 – 2030, Pre-V/S Post COVID 19
11.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Magnesium Oxide Market Size In 2022, By Scenario
11.3. Impact on Supply Chain and Production in Magnesium Oxide Market
11.4. Impact on Import and Export
12. Import-Export Analysis
12.1. North America Magnesium Oxide Import-Export, 2017 – 2021
12.2. Europe Magnesium Oxide Import-Export, 2017 – 2021
12.3. Asia Pacific Magnesium Oxide Import-Export, 2017 – 2021
12.4. Latin America Magnesium Oxide Import-Export, 2017 – 2021
12.5. Middle East America Magnesium Oxide Import-Export, 2017 – 2021
12.6. Africa Magnesium Oxide Import-Export, 2017 – 2021
13. Magnesium Oxide Marketing Channel Analysis
13.1. Marketing Channel
13.1.1. Direct Marketing
13.1.2. Indirect Marketing
13.1.3. Development Trend
13.2. Market Positioning
14. Magnesium Oxide Manufacturing Cost Analysis
14.1. Key Raw Materials
14.2. Key Raw Material Suppliers
14.3. Market Concentration Rate
14.4. Manufacturing Cost Structure
14.5. Process Analysis
15. Conclusion
