Magnesium Oxide Market

Magnesium Oxide Market: Refractories to Remain Prominent Consumer during the Forecast Period; Global Industry Analysis and Opportunity Assessment, 2016 - 2026

The global magnesium oxide market is estimated to reach US$ 5,505 Mn by 2016 end and is projected to expand at a CAGR of 4.1% in terms of value during the forecast period, 2016–2026.

Magnesium oxide, often termed magnesia, is one of the most widely used magnesium compounds. This versatile alkaline-earth metal oxide finds a variety of applications across a diverse set of industries. Obtained either by calcination of naturally occurring mineral sources such as magnesite or synthetically from seawater or brines, three grades of magnesium oxide, namely, dead burned magnesia (DBM), fused magnesia (FM) and caustic calcined magnesia (CCM) are used for commercial applications across industries. Almost all dead burned magnesia and fused magnesia produced are used in refractory application. Besides refractories, magnesium oxide is used in animal feed, fertilisers and pulp bleaching, among others. Due to its relatively high alkalinity, it is increasingly used in wastewater treatment processes and flue gas desulphurisation. Furthermore, magnesium oxide is also used in fertilisers and as mineral additives in animal feed.

Market Dynamics

Growth of the global magnesium oxide market is expected to be driven by increasing demand from refractory application, especially in iron & steel industry. Steady growth in this industry is anticipated to drive growth of the magnesium oxide market over the forecast period. Additionally, demand for refractories is expected to be driven by increasing global iron & steel output. DBM and FM grades of magnesium oxide are used in refractory industries. Over 70% of the magnesium oxide used in refractory industries is of DBM grade. Owing to superior properties of FM over DBM, FM segment is expected to gain additional share in the near future. Another prominent driver fuelling growth of the magnesium oxide market is growing cement consumption globally; magnesium oxide is used as a cement additive in the cement industry. China and India are the largest consumers of cement globally, cumulatively accounting for over 70% share of overall consumption. Global cement consumption is expected to increase at a CAGR of 4% over forecast period. This in turn is anticipated to drive growth of the magnesium oxide market over the forecast period. Also, increasing use of magnesium oxide in animal feed, magnesia-based wallboards and increasing demand for application in wastewater treatment are factors expected to positively impact the global magnesium oxide market over forecast period. However, regulations directed towards reducing environmental pollution emanating from steel production among other industries are expected to act as impediment to growth of the magnesium oxide market during the same period. Also, use of magnesia substitutes is another factor that is expected to restrain growth of the magnesium oxide market over the forecast period. Increasing preference of FM over DBM in refractory application is an ongoing trend in the market. Another prominent trend is backward integration by refractory companies to ensure consistent supply of raw materials.

Global Magnesium Oxide Market Taxonomy

The global magnesium oxide market is segmented as follows:

  • By Product Type
  • By Application
  • By Region

By product type, the global magnesium oxide market is segmented into dead burned magnesia, caustic calcined magnesia and fused magnesia. In terms of volume, DBM segment is estimated to continue its dominance in global magnesium oxide market over the forecast period.

On the basis of application, the global magnesium oxide market is classified into industrial, refractory, agricultural and others. Among these segments, refractory segment is expected to be the most prominent segment in the global magnesium oxide market over the forecast period. Use of magnesium oxide in agricultural application, driven primarily by increasing consumption in animal feed and fertilizers manufacture, is expected to gain traction during forecast period

Regional Analysis

On the basis of regions, the global magnesium oxide market is segmented into North America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Latin America and Middle East & Africa. APEJ is anticipated to dominate the market in terms of both value and volume over the forecast period.

Key Players

Key players identified in this report include Martin Marietta Inc., Grecian Magnesite S.A., Premier Magnesia LLC, Ube Industries Ltd., Robert Half International AG, Magnezit Group Europe GmbH, Magnesita Refratários S.A., Küma? Manyezit Sanayi A.?., Xinyang Mineral Group, Israel Chemical Ltd. and SMZ, a.s. Jelšava.

Future Market Insights offers 10-year forecast for the global primary magnesium market between 2016 and 2026. In terms of volume, the market is expected to register a CAGR of 2.9% during the forecast period (2016–2026). This report provides market dynamics and trends on all seven regions, namely, Asia Pacific Excluding Japan (APEJ), North America, Western Europe, Eastern Europe, Latin America, Middle East & Africa and Japan, which influence the current nature and future status of the magnesium market over the forecast period.

Report Description

This Future Market Insights report examines the ‘Global Magnesium Oxide Market’ for the period 2016–2026 in terms of value and volume. The primary objective of the report is to offer updates on developments in the global magnesium market and conduct quantitative as well as qualitative assessment of the market across various applications and regional market segments.

 On the basis of Product Type, the global magnesium market is segmented as follows:

  • Dead Burned Magnesia
  • Caustic Calcined Magnesia
  • Fused Magnesia

 On the basis of application, the global magnesium market is segmented as follows: 

  • Industrial
  • Refractories
  • Agricultural
  • Others

Regionally, magnesium market is segmented as follows:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Middle East & Africa
  • Japan

To understand and assess market opportunities and trends, the report is categorically split into sections such as market overview, global industry analysis, analysis by application and by region. Each section discusses the qualitative and quantitative aspects of the global magnesium market. To give a brief idea about revenue opportunities from various application and region/country, the report also provide absolute $ opportunity and total incremental opportunity for each segment over the forecast period.

The report starts with market overview and provides market definition and analysis about drivers, restraints and key trends in magnesium market. The sections that follow include global market analysis, by application and further by regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market, covering present scenario and future prospects. For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and the forecast made for 2017 - 2026.

To calculate market size, the report considers average price of magnesium oxide across geographies on a regional basis. The forecast assesses total revenue as well as volume of global magnesium market. The data is triangulated on the basis of different analysis considering supply side, demand side and dynamics of regional markets. However, quantifying the market across regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.

The final section of the global magnesium oxide market report provides profiles of the key industry players in order to evaluate their strategies and recent developments. Moreover, this section of the report also includes a dashboard view of key companies operating in global magnesium market. Some of the market players featured in the section include –  Grecian Magnesite, Premier Magnesia LLC, Ube Industries Ltd., Robert Half International AG, Magnezit Group Europe GmbH, Magnesita Refractories SA, Kumas Manyezit Sanayi AS, Xinyang Mineral Group, Israel Chemical Ltd., and SMZ, a.s., Jesava.

Key Regions/ Country Covered

  • North America
    • U.S
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Western Europe
    • EU-5
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
  • Asia Pacific Excluding Japan
    • China
    • India
    • South Korea
    • Rest of APEJ
  • Japan
  • Middle East & Africa
    • GCC
    • South Africa
    • Turkey
    • Rest of MEA