Fused Magnesium Oxide Market Manufacturing Cost Structure | SWOT Analysis | Company Snapshot

CITY, Country, 2020-Jul-31 — /EPR Network/ —

Global fused magnesium oxide market research report offers a complete breakdown of the industry scope, assumptions, segmentation, key strategies, revenue, shares and size of top players. This syndicated research report also provides application, regional, products insights and offer ready, data-driven answers to many industry-level questions.

Market Overview:

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.

Key Players:

• Grecian Magnesite S.A.
• ICL
• Baymag 

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Growth Drivers: 

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.

Market Segment: 

Key regions

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Regional Insights: 

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.

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