Magnesium oxide is available in a variety of types including dead burn (DBM) and molten (FM) types used in the steel and refractory markets, as well as caustic calcined magnesia (CCM) commonly used in agriculture, wastewater treatment and construction.
From a global market perspective, the overall market for magnesium oxide is expected to grow at a compound annual growth rate of 4.1% between 2016 and 2026, with a market size of $8.2 billion. Although steel and refractory materials are currently a large market for magnesium oxide, magnesium oxide is also growing in other market segments, particularly in the agricultural, wastewater and construction industries. The following is a brief introduction to magnesium oxide used in these three industries.
Agriculture: Fertilizer and animal feed magnesium oxide
Agriculture is an important market for magnesium oxide. Magnesium is an essential nutrient for plant photosynthesis and animal health. Caustic calcined magnesia is the most commonly used type in animal feed due to its high magnesium concentration and bioavailability. Crops such as citrus, potatoes, vegetables, fruits and grassland require magnesium-rich fertilizers for optimum yield, and caustic calcined magnesia is the most popular type. In fact, the agricultural sector, which is a branch of this magnesium oxide market, expects a compound annual growth rate of 5.3% from 2016 to 2026.
Sewage treatment magnesium oxide
With the rise of global industrialization and the advancement of cleaner, more sustainable industrial practices, the overall wastewater treatment chemicals market is expected to grow at a CAGR of 6% from US$42.23 billion in 2017 to US$56.57 billion in 2022. . Magnesium oxide is quickly becoming a replacement for harsh chemicals used in the treatment of plant and mine waste.Magnesium oxide is increasingly playing an increasingly important role in wastewater treatment because it effectively removes excess nutrients such as phosphorus that can have catastrophic effects on the environment. As evidenced by the death zones accumulated in the United States, including the Chesapeake Bay. Magnesium oxide is also an effective absorbent for silica and heavy metals, helping to prevent fouling of boilers, heat exchangers and pipes, and to prevent immersion in the soil.
Building: Magnesia wall panel
The strong bond between magnesium and oxygen, which forms magnesium oxide crystals and makes them an important component of steel manufacturing, has also proven to be beneficial in the manufacture of wallboard. Compared to traditional wood, gypsum and cement substrate products, magnesia wallboards reduce construction and maintenance costs and show superior performance. The exterior and interior wall panels made of magnesium oxide are not only durable, but also resistant to fire, mildew, non-toxic, insulating, and water resistant.
According to the global magnesium oxide board market data, the valuation in 2016 was 9.4706 billion US dollars, and it is expected to reach 1.27 billion US dollars by 2021. The Asia Pacific region is the largest consumer market, accounting for 43% of total consumption in 2016, followed by North America with 18.66%.The world's magnesium reserves are mainly concentrated in Russia (27%), China (21%) and South Korea (18.8%). China is essentially the world's largest producer, accounting for about 70% of global production.
The main driver of the magnesium oxide market may be the steel industry, which rebounded after a decade of decline, but the area of professional growth does exist. Although we can get higher profit margins from the dead burned magnesium oxide (DBM) market, there are not many alternatives to magnesium oxide in refractory applications, but agriculture, wastewater treatment and refractory wallboards do have the best growth prospects.
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