DUBAI, UAE. 10th September
2019: 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.
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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.
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Key regions
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
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