31 December 2019 - Global Fused
Magnesium Oxide Market is
expected to witness substantial growth in the coming years due to high demand
form the automotive industry. Magnesium oxide is a naturally occurring
periclase white solid mineral and a source of magnesium. Fused magnesium oxide
is perfectly crystallized, has strong resistance to corrosion, is dense in
texture and performs excellently in high temperatures. It is gaining popularity
since it performs well under extreme conditions. Fused magnesium oxide is
majorly used to manufacture crucibles and furnace linings that produce alloy
steels. It is also an excellent electrically insulated material.
The
major drivers of fused magnesium oxide market are increase in demand from
agriculture and iron & steel industry, growth in industrialization and
increasing emphasis on sustainable industry activities. Moreover, rise in
demand from refractory application and steady growth in the industry is also
driving the market. High availability of magnesium substitutes that decreases
the demand for magnesium oxide is hampering the market growth. Magnesium
substitutes have similar chemical and physical properties.
Increase
in the number of mergers with suppliers by refractory organizations for
ensuring consistent raw material supply is an emerging trend in the market.
This saves cost and improves efficiency for the companies.
Fused
magnesium oxide market is categorized on the basis of type, application, and
geography. On the basis of type, market is divided into dead-burned magnesia
(DBM), caustic calcined magnesia and fused magnesia. Caustic calcined magnesia
segment is expected to hold larger share of the market due to high demand from
agriculture. Based on application, market is divided into chemical
intermediates, application, refractory, construction, and others. Refractory
segment is predicted to lead the fused magnesium oxide market in future.
Geographically,
market is divided into North America, Latin America, Europe, Asia Pacific, and
Middle East & Africa. Asia Pacific is expected to dominate the market due
to existence of large number of market players, cheap labor, and outsourced
production activities. North America and Europe are also leading the fused
magnesium oxide industry due to growing technological advancements.
The
prominent players in fused magnesium oxide market comprise Grecian Magnesite
S.A., ICL, Baymag Inc., Martin Marietta, PremierMagnesia LLC, SMZ, a.s.
Jelsava, Xinyang Mineral Group, Kumas Magnesite Industry Inc., RHI Magnesita
N.V., Tateho Chemicals Industries Co., and Ube Industries Ltd.
Market Segment:
Report contents include
•
Analysis of the fused magnesium oxide market including revenues, future growth,
market outlook
•
Historical data and forecast
•
Regional analysis including growth estimates
•
Analyzes the end user markets including growth estimates.
•
Profiles on fused magnesium oxide including products, sales/revenues, and
market position
•
Market structure, market drivers and restraints.
Key regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Key Vendors
•
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