About the Report
The global magnesium oxide industry is quite progressive in nature and anticipated to expand at over 5% CAGR through 2031. Growing application in agriculture, refractories, and other industrial sectors is catering to the growth of suppliers. Furthermore, a flurry of inventions in different types of magnesium oxide such as dead burned magnesia, and fused magnesia by manufacturers is set to further raise the industry value in the near future.
The latest revised edition of the report on ‘magnesium oxide’ market study by Future Market Insights (FMI) offers a thorough analysis of the global industry potential, its key driving & restraining factors, and demand-supply patterns during the forecast period of 2021 to 2031. According to the report, the United States, Germany, China, Japan, and a few other countries will emerge highly lucrative, while overall 20+ countries will maintain positive industry outlooks throughout the forecast period.
Historical Trends Vs. Future Outlook on Magnesium Oxide Sales
Magnesium oxide manufacturers witnessed steady growth in demand over the past years, while growing adoption of dead burned magnesia or DBM magnesia further aided in the surge in demand. Despite facing a few constraints in the on-set of the COVID-19 pandemic, the magnesium oxide industry maintained a positive outlook during the last 5 years from 2016 to 2020.
As the advancements is taking over the refractories, industrial, and agricultural sectors, magnesium oxide providers are expected to come across new opportunities in the coming years. While the increase in focus on developing more quality products will favor the magnesium oxide suppliers, the macro-economic factors such as increase in governmental investment in industrial sectors, rapid urbanization, and others will help them in capturing the low hanging opportunities through 2031.
How is Rising Application in Agricultural Sector Aiding Magnesium Oxide Sales?
Magnesium oxide is highly sought-after in agriculture sector owing to its wide applicability such as-
- Providing agricultural and fertilizer grade supplement
- Soil nutrition and management
- Water management
And others. As stated in a report titled “Agribusiness Industry Spotlight” published by the Select USA, the United States agribusiness gives tough competition in the global domain. As per the report, the agribusiness industry contributed over US$ 159 Billion in export sales to the U.S. economy in 2018, while the Foreign Direct Investment (FDI) in the U.S. agribusiness industry totaled more than US$ 14 Billion. These data give an idea regarding the ample of opportunities awaiting for magnesium oxide suppliers around the globe.
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What are the Key Challenges Faced by Magnesium Oxide Manufacturers?
There are a few disadvantages of magnesium oxide which often work as constraints to the key industry players such as-
- Low water resistance
- Costly and complex process cycle
- Addition costs incurred due to laboratory set up and experts’ handling
- Magnesium oxide fumes are harmful for breathing and often it restricts its usage due to environmental rules & regulations And others.
- However, with the continuous efforts put by manufacturers, these restraints are expected to get minimized in the coming years, paving new paths for industry players.
What’s Fuelling the Sales in the United States Magnesium Oxide Market?
The United States is leading in the world’s largest magnesium oxide industry North America, and expected to exhibit hegemony during the forecast period. Backed by the highly advanced industrial sectors and manufacturing infrastructure, the U.S. is in the limelight for the stakeholders in the magnesium oxide industry.
According to a report published by the United States Bureau of Labor Statistics on 4th September, 2020, the industrial sectors in the U.S. is growing fast apart from a temporary decline due to the outbreak of the COVID-19 pandemic. As stated in the report, the number of employees in five out of 20 industrial sectors in the U.S. is set to grow by 60% through 2029. Not only this indicates the high potential of the U.S. industrial sectors, but the new growth scope for magnesium oxide manufacturers in the U.S.
Why is Germany Considered Heavyweight for Magnesium Oxide Suppliers?
Germany has been leading in Europe magnesium oxide industry since the past decade and likely to sustain its position throughout the forecast period. Rapidly evolving manufacturing hubs coupled with the rise in demand from agricultural, refractories, and other industrial sectors are spurring the growth in Germany.
As stated in a report titled “Farming” published by the Federal Ministry of Food and Agriculture, in Germany, half of the national territory is put to agricultural use despite a high population density. According to the report, in Germany, around a million people produce goods worth around 50 Billion Euro a year in nearly 270,000 agricultural enterprises, making its agricultural sector among the four largest producers in the European Union. This explains well why magnesium oxide suppliers are targeting Germany in order to increase their profit margins.
What’s Driving the Demand in China Magnesium Oxide Industry?
China is the epicenter of the world’s fastest-growing magnesium oxide industry Asia Pacific and expected to dominate over the forecast period. Increase in demand for dead burned magnesia, caustic calcined magnesia, and others in industrial sectors is fuelling the sales in China.
As stated in a report published by the International Trade Administration in February, 2021, China has a highly potential industrial sector which majorly contribute to its economy growth, while in 2019 China was the world’s second-largest economy with a Gross Domestic Product (GDP) of US$ 14 Trillion. As per the report, China’s GDP grew 6.11% in 2019 and is forecast to rise further in the post-pandemic years. This indirectly hints towards the new avenues created for magnesium oxide providers in China.
Will India Remain in the Spotlight for Magnesium Oxide Providers?
India has been in the spotlight for magnesium oxide manufacturers since the past decade owing to its well-developed industries and advanced manufacturing units. With the rise in application in refractories, and other industrial sectors, India is likely to prevail in its position through 2031.
According to a report titled “Agriculture in India” published by the India Brand Equity Foundation (IBEF) on 22nd March, 2021, the Gross Value Added (GVA) by agriculture, forestry, and fishing was estimated at US$ 276.37 Billion in FY20 in India. As stated in the report, the total agricultural export was US$ 10.40 Billion between April and October 2020, which is forecast to grow further in the coming years. No doubt that suppliers are eyeing India in order to increase their sales footprint.
Which is the Preferred Type of Magnesium Oxide?
Presently, dead burned magnesia is leading in the magnesium oxide industry in terms of product type and expected to remain in the position throughout the forecast period. There are several advantages of this product type such as-
- Highly efficient in creating aluminum-magnesium alloys
- High strength
- Highly efficient to be used in refractories
And others. As a result, this type of magnesium oxide are bolstering the growth of the suppliers further around the world.
The global magnesium oxide industry is fragmented and flourishing on the key industry players. In order to sail through the strict competition, industry players are launching wider variety of products more frequently.
- Grecian Magnesite S.A. launched its new range of Caustic Calcined Magnesia, Magnesium Carbonate, Dunite, and others a couple of years back
- Ube Industries Ltd. recently launched its new range of Magnesium Oxysulphate Whisker, MOS-HIGE®
Some of the key players supplying magnesium oxide are-
- Martin Marietta Inc.
- Grecian Magnesite S.A.
- Premier Magnesia LLC
- Ube Industries Ltd.
- Robert Half International AG
- Magnezit Group Europe GmbH
- MagnesitaRefratarios S.A.
- Manyezit Sanayi A.
- Xinyang Mineral Group
- Israel Chemical Ltd.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Historical Data Available for
USD Million for Value
Key Regions Covered
North America, Latin America, Europe, South Asia, East Asia, the Middle East & Africa, and Oceania
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covered
Product Type, Application, and Region
Key Companies Profiled
Market Forecasts, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered in Report
Which are the top companies providing magnesium oxide?
Some of the top companies providing magnesium oxide are Martin Marietta Inc., Grecian Magnesite S.A., and Premier Magnesia LLC.
Which are some of the lucrative markets for magnesium oxide?
The United States, China, Japan, Germany, India, the United Kingdom, Canada, Italy, France, and a few others are lucrative markets for magnesium oxide, and are expected to dominate throughout the forecast period.
Which product type accounts for high sales of magnesium oxide?
Presently, the dead burned magnesia segment is the most lucrative in terms of product type, and is expected to remain dominant over the forecast period of 2021 to 2031.
Which application of magnesium oxide is boosting the demand growth?
Presently, industrial application of magnesium oxide is boosting the sales and predicted to remain dominant.
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Market Segmentation by Category
- Dead Burned Magnesia
- Caustic Calcined Magnesia
- Fused Magnesia
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia