High Purity Magnesium Oxide Market Outlook
The Global High Purity Magnesium Oxide market size was valued at USD 257.2 Million in 2019 and is projected to reach around USD 377.1 Million by 2027, expanding at a CAGR of 5.2% during the forecast period 2020-2027. In terms of volume, the market is estimated to expand at a CAGR of 5.0% between 2020 and 2027. Magnesium oxide is a silvery metal, flammable, light, and chemical element having the symbol Mg with an atomic number of 12.
High purity magnesium oxide is produced by calcination of the magnesium hydroxide (Mg (OH)2) or mineral magnesite (MgCO3), which is obtained from brine by liming or seawater. It is produced from thermal hydrolysis of magnesium sulfide (MgS), magnesium sulfate (MgSO4), magnesium chloride (MgCl2), and basic carbonate. High purity magnesium is considered to be the eighth-most abundant element and it is typically 0.12% of seawater and equals about 2% of the Earth's crust.
High Purity Magnesium Oxide Market Dynamics
The global high purity magnesium oxide market is anticipated to grow due to the rise in industrialization in developing countries and due to back development of ceramics, nonferrous metal, and the chemical industry. Moreover, rising product demand for dietary supplements for maintaining product quality in the pharma industry is likely to boost market during the forecast period.
The market is facing unprecedented challenges such as environmental pressures, water resources, product homogeneity, high production cost, and industrial blind development. These factors are expected to hamper the market in the coming years.
High Purity Magnesium Oxide Market Segment Insights
Types
Pharmaceutical Grade Magnesium Oxide
High purity magnesium helps in the transportation of potassium and calcium ions through body cell membranes to support normal, healthy heart rhythm. A high purity magnesium oxide product is a free-flowing white powder, which is used for producing pharmaceutical-grade magnesium derivatives for food additives and mineral supplements. Moreover, it is used in the manufacturing of antacid preparations.
Food Grade Magnesium Oxide
The high purity magnesium oxide is used as a food additive for pH modification, color retention, powder mix desiccant (drying agents), or a magnesium supplement. Furthermore, high purity magnesium oxide keeps powdered foods such as powder drink mixes in free-flowing form. The food grade magnesium oxide is used as an additive in food production. It is also used as a coagulant in making tofu and other types of bean products.
Synthetic Magnesium Oxide
Synthetic magnesium oxide (MgO) is synthetically produced from magnesium chloride and lime. It is used in the production of transformer steel, chemical, magnesium compounds, and in the leather industry for leather tanning.
Applications
In terms of applications, the high purity magnesium oxide market is segregated into oriented silicon steels industry, silicon steel coatings industry, pharmaceutical industry, food industry, electrician magnesium industry, hydrotalcite industry, and rubber industry.
High purity magnesium oxide is extensively used in the area of the oriented silicon steels as it is considered to be energy efficient in electrical steel, and thus is used in transformers where energy conservation is critical. Furthermore, the uses of high purity magnesium oxides in the pharmaceutical industry are rising, as they are used in the manufacturing of various medicines and particularly in antibiotics.
Regional Analysis
Based on regions, the global high purity magnesium oxide market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in Asia Pacific is expected to expand at a significant CAGR during the forecast period owing to growing presences for emerging economies in China and India.
Moreover, rising industrialization in these countries is anticipated to fuel the market. The market in North America is expected hold over 1/5th share of the market in 2019 due to the growth of various industries such as glass, steel, and ceramic.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global high purity magnesium oxide market
- Historical, current, and projected market size in terms of value and volume
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints, and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Neutral perspective on global high purity magnesium oxide market performance
Segments
By Types
- Pharmaceutical Grade Magnesium Oxide
- Food Grade Magnesium Oxide
- Synthetic Magnesium Oxide
By Applications
- Oriented Silicon Steel Industry
- Silicon Steel Coating Industry
- Pharmaceutical Industry
- Food Industry
- Electrician Magnesium Industry
- Hydrotalcite Industry
- Rubber Industry
By Regions
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- South East Asia (SEA
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East and Africa
Key Market Players Profiled in the Report
- AKO KASEI CO., LTD.
- Buschle & Lepper SA
- Causmag International
- Celtic Chemicals
- elitechemical.com
- Hebei Meishen Technology Co., Ltd.
- INTERMAG sp. z o.o.
- JSC KAUSTIK
- Konoshima Co., Ltd.
- Kyowa Chemical
- Lehmann & Voss & Co.
- MAGNESIA GmbH
- MAGNIFIN
- Russian Mining Chemical
- SCORA S.A.S
- Tateho Chemical Industries Co., Ltd.
- Ube Material Industries,Ltd.
Competitive Landscape
Key players in the market include JSC KAUSTIK, Konoshima Co., Ltd., Buschle & Lepper SA, Kyowa Chemical, Tateho Chemical Industries Co., Ltd., and MAGNESIA GmbH. These players are considered key manufacturers in the market based on their different varieties of product availability, regional presence, better supply chain management system, and increasing demand for products. These players are adopting key strategies such as product development and geographical expansion to increase their presence in the high purity magnesium oxide market.
- In 2018, Lehmann & Voss & Co. acquired the Osthoff Omega Group, which is based in Norderstedt, Germany. Osthhoff Omega Group has temporarily closed in Norderstedt office and the employees are working in Lehmann & Voss & Co.
- In 2018, Ube Material Industries, Ltd. established a manufacturing plant in of MOS-HIGE magnesium oxysulfate whisker in Thailand.
- In 2018, Russian Mining Chemical expanded its products range by lunching the production of highly active magnesium oxide under the MagPro trademark.