NEWARK, Del, June 08, 2023 (GLOBE NEWSWIRE) -- According to industry forecasts, magnesium oxide's market value will reach US$ 6.15 billion by 2023 and reach US$ 16 billion by 2033, growing at a 10% CAGR. Growing demand for health supplements has fueled magnesium oxide's growth. Heartburn and digestive problems are best treated with magnesium oxide. In addition to magnesium oxide, other magnesium compounds can be used to supplement magnesium levels in the body, including those found naturally in foods.
Migraine patients, including those suffering from cluster headaches or menstrual migraines, often have low magnesium levels, and magnesium oxide supplements may provide some relief. A migraine may be caused by the interruption of brain signals that are caused by magnesium ions provided by magnesium oxide. In order to be effective, a daily dose of 400–500 milligrams may be required. Starting with a smaller dose may help control diarrhea, which is also a possible side effect of this dose.
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Several over-the-counter supplements have been found to improve symptoms associated with chronic constipation, including magnesium oxide. Research conducted by King's College London's Department of Nutritional Sciences examines how food additions, vitamins, and minerals affect stool output, gut transit times, complaints, and quality of life in adults with chronic constipation.
Low blood pressure, irregular heartbeats, slowed breathing and confusion may also be caused by high doses of magnesium oxide. Death or coma is possible in some cases, but only in very serious cases. As a result, other nutrients are imbalanced and toxicity is present. While magnesium supplements have been shown to have a variety of benefits, magnesium oxide's bioavailability ranges from zero to four percent. Researchers are concerned that using magnesium oxide as a measurement of magnesium effectiveness will harm the reputation of magnesium as a health concern similar to depression.
Key Takeaways
- Dead-burned magnesia is in high demand and is expected to fuel the growth of the industry.
- Magnesium oxide is expected to grow at a CAGR of 10% from 2023 to 2033.
- Construction activities are likely to create growth opportunities for the market in growing years.
- As the leader in the magnesium oxide industry in North America, the United States will remain dominant
- A growing market for agricultural products in the Asia Pacific region is expected to gain traction.
“Magnesium oxide suppliers will see their growth bolstered by the growing demand for refractory applications, especially in the iron and steel industry.,”, says an FMI analyst
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Competitive Landscape
Magnesium oxide players around the world are facing stiff competition. A cost-effective and broader product line will enable them to maintain their leading position in the highly competitive market.
The key industry players are Martin Marietta Inc., Grecian Magnesite S.A., Premier Magnesia LLC, Ube Industries Ltd., Robert Half International AG, Magnezit Group Europe GmbH, Magnesita Refratarios S.A., Kuma, Manyezit Sanayi A., Xinyang Mineral Group, and Israel Chemical Ltd.
Market Developments Include:
- In November 2022, West High Yield (W.H.Y.) Resources Ltd. released its PFS for its high-purity MgO industrial production facility, with a cost accuracy of +/- 20% based on National Instrument 43-101 - Standards of Disclosure for Mineral Projects, located near Rossland, British Columbia, a project that is in an intermediate-advanced exploration stage. Using the Company's high-purity MgO plant, the Company will provide an alternative to currently dominant Chinese operations that convert carbonate ores into magnesium oxide. In turn, this will provide high-purity MgO products from an independent, green, and secure Canadian source to U.S. and European customers.
- In May 2023, the ACG and AGA released their joint clinical practice guidelines with ten evidence-based recommendations, including magnesium oxide and senna, for treating chronic idiopathic constipation. A conditional recommendation was made for fiber, lactulose, senna, magnesium oxide, sodium picosulfate, lubiprostone, linaclotide, plecanatide and prucalopride, while strong recommendations were made for polyethylene glycol, sodium picosulfate, and linaclotide.
Magnesium Oxide Market Segmentation by Category
Product Type:
- Dead Burned Magnesia
- Caustic Calcined Magnesia
- Fused Magnesia
Application:
- Industrial
- Refractories
- Agricultural
- Others
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global magnesium oxide market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033. To understand opportunities in the magnesium oxide market, the market is segmented on the basis of product, applications, and region.
Table of Content (ToC)
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
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Source: Magnesium Oxide Market to Register a Stable CAGR of 5% in 2031 Owing to Significant Advancements Taking Place in the Agricultural Sector | Report by Future Market Insights, Inc.
