According to the latest research report of Hebei Messi Biology Co., Ltd., the global magnesium oxide market will grow steadily in the next 10 years, with a compound annual growth rate of 5% by 2031.
The surge in investment by governments in the agricultural and industrial sectors will boost the global magnesium oxide market. The rising demand for magnesium oxide in the development of refractory linings in the steel industry will have a positive impact on market growth. According to the European Commission (EC), 1.3% of the gross domestic product (GDP) of the EU27 comes from agriculture. With the rapid development of industrialization and the development of the agricultural sector, the high growth of the magnesium oxide market is possible. The high acid neutralization ability of magnesium oxide makes it a lime substitute for waste treatment facilities, thereby increasing the growth of magnesium oxide market demand. The United States is the main market for magnesium oxide in North America. The growth in the United States will be driven by the increasing adoption of magnesium oxide in biomedical applications and the rapid development of manufacturing and industrial infrastructure.
At present, there are two main types of raw materials for producing magnesium oxide in the world: the first type is 93-95% magnesium oxide produced by solid mineral raw materials such as dolomite and magnesite with high pollution in underdeveloped countries; the other type is 96-99% high-purity magnesium oxide produced by seawater and brine in advanced Western countries. For a long time, my country’s magnesium oxide production has mainly used solid minerals such as magnesia and dolomite as raw materials, and the quality of magnesium oxide produced is relatively low. Although the introduction of foreign advanced equipment has improved it in recent years, the purity is still mainly below 96%, which is difficult to meet the high purity requirements.
At present, the production capacity of most Chinese light magnesium oxide enterprises is 300-500 tons per year, and there are only a few enterprises that reach 10,000 tons. Among them, Hebei Messi Biology Co., Ltd. is the most well-known. The capacity of a single unit of ordinary calcined oxidation enterprises abroad, especially in the United States and Western Europe, is above 10,000 tons. The single-machine production scale of the project is 5,000 tons, which is relatively large. Although there have been continuous scientific research results on fine magnesium oxide products in recent years, the variety and quantity still cannot meet the market demand, let alone export. Due to the small number of fine magnesium oxide products, the economic benefits of magnesium salt enterprises have been seriously affected. At present, the industrial production of high-purity magnesium oxide series products in China is still in the development and research stage. The functionalization, specialization and refinement of magnesium products have become the focus of research and development and production in countries around the world.