Market
Research Future (MRFR) recognizes the following companies as the key
players in the global Magnesium oxide, RHI Magnesita N.V.(Austria),
Martin Marietta (U.S.), Grecian Magnesite S.A. (Greece), PremierMagnesia
LLC (U.S.), Ube Industries Ltd (Japan), Kumas Magnesite Industry Inc
(Turkey), Xinyang Mineral Group (India), ICL (Israel), SMZ, a.s. Jelsava
(Slovakia), Tateho Chemicals Industries Co. (Japan), and Baymag Inc (
Canada).
Market Highlights:
Global
Magnesium oxide market was valued at USD 3,934.5 million in 2017 and is
predicted to flourish with a CAGR of 5.34% to reach USD 5,376.4 million
by the end of 2023. Growth in this market is attributed to the rising
industrialization across the globe. Regions such as Asia Pacific and
Latin America are gaining major attention by the industry players due to
the rising foreign direct investments in the industrial sector. As per
our analysis, Asia Pacific is considered to be the largest market due to
the increasing scope of refractors in the developing industries.
Segment Analysis
The Magnesium Oxide Market Analysis
is fragmented on the basis of product type, application, and region. On
the basis of type, the market is segmented into DMB, CCM, and FM. The
market on the basis of the application is segmented into refractory,
agriculture, chemical intermediates, construction, and others. The
refractory segment is further segmented into steel, ceramics, glass, and
others. Under agricultural application segment, the market is
sub-segmented into fertilizers and animal feed. On the basis of the
region, the global market is spanned across North America, Europe, Asia
Pacific, Latin America, and the Middle East & Africa
Refractory
application segment emerged as the industry leaders in product basis
with over 52% of global share and at a significant CAGR of 5.06%. Fused
magnesia and dead burned magnesia are extensively use in the refractory
applications due to their excellent temperature resistivity. Moreover,
the growing demand for refractory material in the industries such as
iron & steel, glass, and ceramics is prominently contributing to the
growth of this segment. Among the mentioned industries, Iron and steel
accounted for a share of over 65% in 2016. The agricultural industry was
the second largest application industry for magnesium oxide in 2016 and
is expected to exhibit the same trend during the review period. The
growing use of fertilizers coupled with the increasing demand for animal
feed is contributing to the segment growth.
The
DBM product type is forecasted to be the leading one and is anticipated
to reach a market share of US$ 3614 million by 2023. Dead-burned
magnesia has excellent temperature resistivity ranging from 1500-2000
degree Celsius which paves their way into many industries such as iron
& steel, ceramics, and glass manufacturing.
Regional Analysis
The
global Magnesium oxide market is spanned across North America, Europe,
Asia Pacific, Latin America, and the Middle East & Africa. According
to the MRFR analysis, Asia Pacific was the most promising region both
in terms of market volume as well as market value as of 2016 and is
anticipated to show the same trend during the forecast period. The
region anticipates growth in terms of both value and volume at a CAGR of
5.64% and 5.32% respectively during the forecast period.
The
study was conducted using an objective combination of primary and
secondary information including inputs from key participants in the
industry. The report contains a comprehensive market and vendor
landscape analysis of key vendors.
This
research report provides the insights, on various levels of analyses
such industry analysis, market share analysis leading market players and
their profiles. This report also helps in studying the target segments
by providing views on emerging & high-growth segments and market
conclusion. Together the market data comprise and discuss with the basic
assessments on the competitive scenarios & strategies, of the
Global Magnesium oxide, including the high-growth regions and their
political, economic and technological environments. Furthermore, the
project report also provides the views over the historical market values
as well as, pricing and cost analysis of the same.
Access Report Details @ https://www.marketresearchfuture.com/reports/magnesium-oxide-market-1983
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