The global magnesium oxide nanopowder market exhibits a highly fragmented competitive landscape, with strong competition between the top players. Integration exists across the value chain with multiple key players producing raw materials that is required in the manufacturing of magnesium oxide nanopowder. American Elements, Sigma-Aldrich Co. LLC, Nanostructured & Amorphous Materials, Inc., Strem Chemicals, Inc., and US Research Nanomaterials, Inc. are identified as some of the prominent players in the global magnesium oxide nanopowder mater. These companies focus on product quality and innovation via research and development to the increase the range of applications and thereby consolidate their market position.
Distribution channels in the magnesium oxide nanopowder market include direct selling, exporters, distributors, and online traders. Companies such as Sigma-Aldrich Corporation and EPRUI nanoparticles & Microspheres Co. Ltd. have online portals for the sale and distribution in various regions. According to the report, the global demand for magnesium oxide nanopowder stood at 8,408.9 tons in 2014 and is anticipated to reach 16,121.5 tons in 2023, increasing at a CAGR of 7.5% during the forecast period of 2015 to 2023. In terms of revenue, the global market for magnesium oxide nanopowder market was valued at US$1.7bn in 2014, which is projected to reach US$3.5 bn by the end of 2023, expanding at a healthy CAGR of 2015 to 2023.
Flourishing Construction Industry Driving Demand
In terms of volume, the end-user segment of furnaces and boilers dominated the global magnesium oxide nanopowder market, accounting for 48.2% share in 2014. This segment is projected to remain prominent through-out the forecast period, which is a reflection its highly useful properties such as fire-retardant, least toxic, and odorless. The segments of construction is second most lucrative, gaining from rapid industrialization and urbanization in the emerging economies. Refractory fiber and materials, magnetite-chrome brick, filler for refractory coating, and ceramic base plate are some of the basic applications of magnesium oxide nanopowder in the construction industry.
Geographically, Asia Pacific serves the maximum demand, accounting for 40.5% of the market in 2014, which is due to significant demand for magnesium oxide nanopowder from end-users such as furnace and boilers and construction. North America and Europe form the second and third most profitable regional markets, respectively.
Pollution Concerns Escalating Uptake as Fuel Additive
Rising demand for applications such as refractory materials, fuel additives, and flame retardants is anticipated to drive the global magnesium oxide nanopowder market in the near future. These are essential to check the rising pollution due to increasing environmental concerns. Magnesium oxide nanopowder is used as a fuel additive to reduce pollution. Due to the increasing demand for fuel, the demand in the additives market is expected escalate during the forecast period. Conversely, the high production cost and adverse impact on environment is expected to hinder the growth rate of the market for magnesium oxide nanopowder. Magnesium oxide nanopowder used in animal feed additives in excessive quantities may cause tumors in animals such as rats and cattle.
According to the author of the report, development of cost effective manufacturing process will open new avenues for the players in the market. For instance, a research team at the Islamic Azad University in Iran is reported to have synthesized magnesium oxide nanoparticles through the hot wire chemical vapor deposition (HWCVD) method. Moreover, by increasing the utilization factor and manufacturing capacity, the key manufacturers can avail efficient economies of scale.
The information presented in this review is based on a Transparency Market Research report, titled, “Magnesium Oxide Nanopowder Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Key Segments of the Global Magnesium Oxide Nanopowder Market
Magnesium Oxide Nanopowder Market - End-user Analysis
- Furnaces and boilers
- Paints and coatings
- Others (Including petrochemical, textile, etc.)
Magnesium Oxide Nanopowder Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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