Global High Purity Magnesium Oxide Market Expected to Reach USD 377.1 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global High Purity Magnesium Oxide Market by Types, Applications, and Regions: Size, Share, Trends, and Opportunity Analysis, 2020-2027”, the market was valued at USD 257.2 Million in 2019 and is anticipated to expand at a CAGR of 5.2% between 2020 and 2027. In terms of volume, the global high purity magnesium oxide market is anticipated to expand at a CAGR of 5.0% during the forecast period. The global high purity magnesium oxide market is anticipated to grow due to the growing demand in pharma industry for maintaining product quality.

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The global high purity magnesium oxide market is fragmented based on types, applications, and regions. In terms of types, the market is trifurcated into pharmaceutical grade magnesium oxide, food grade magnesium oxide, and synthetic magnesium oxide. On the basis of applications, the market is divided into oriented silicon steel, silicon steel coating, pharmaceutical industry, food industry, electrician magnesium, hydrotalcite, and rubber industry. Based on regions, the global high purity magnesium oxide market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is bifurcated into the US and Canada. Latin America is segmented into Brazil, Mexico, and Rest of Latin America, while Asia Pacific is sub-segmented into China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. The Europe region is categorized as Germany, France, Italy, the UK, Spain, Russia, and Rest of Europe. MEA is divided into Saudi Arabia, South Africa, the UAE, and Rest of MEA.

High purity magnesium oxide is odorless and has non-toxic properties, which make it a preferred choice for industrial applications. The high purity magnesium oxides have a high melting point and hardness and it appears in white powder form. The demand for high purity magnesium oxide is rising, as a high-temperature dehydrating agent for the production of rubber, steel, silicon, and pharma. Moreover, growing usage in end-use applications such as silicon steel, chemicals, electrical, rubber, pharmaceuticals, and food additives are expected to drive the market during the forecasted period.

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As per GMR industry analyst Vidya Jadhav, “The global high purity magnesium oxide market is anticipated to grow at a substantial pace during forecast period, from 2020 to 2027, due to the rising demand for pharmaceuticals, steel, and others. Moreover, increase in the acceptance of high purity magnesium oxide as a fire retardant in flame retardant chemicals is projected to drive the chemical industry, thus fueling the high purity magnesium oxide market.”

Key Takeaways from the Study:

• Russia-based JSC KAUSTIK, Konoshima Co., Ltd. a Japan-based company, and Buschle & Lepper SA a Brazil-based company held approximately one fourth share of the global high purity magnesium oxide market in 2019.
• In terms of types, the pharmaceutical grade magnesium oxide segment is expected to grow due to its high applications in the pharmaceutical industry, which makes it a vital nutrient in multiple products. Magnesium is commonly used for building strong teeth and bones. It is considered as an essential element for the healthy biochemical reactions which are performed by enzymes for improving blood circulation and energy creation.
• Based on applications, the pharmaceutical industry segment is expected to register high incremental opportunity in the coming years. Rise in the purchase of medicine via e-commerce platform and personal care products is expected to boost the demand for high purity magnesium oxide in the pharmaceutical industry segment.

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Report Scope:

Target Audience:

• Supply-side: High purity magnesium oxide manufacturers, raw material suppliers, primary respondents, and distributors
• Demand Side: oriented silicon steel, silicon steel coating, pharmaceutical industry, food industry, electrician magnesium, hydrotalcite, rubber industry, and others
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Environmental Protection Agency (EPA), Food and Drug Administration (FDA), European Chemicals Agency (ECHA), Occupational Safety and Health Administration (OSHA), National Institute for Occupational Safety and Health (NIOSH), European Union (EU), American Conference of Governmental Industrial Hygienists (ACGIH), and others.

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