Spherical magnesium oxide is an inorganic non-metallic material with good chemical stability, corrosion resistance, insulation, adsorption and thermal conductivity. Spherical magnesium oxide is widely used in electronic appliances, chemical industry, building materials, medicine and other fields.
Market size
According to MarketsandMarkets, the global spherical magnesia market size will be US$1.15 billion in 2022 and is expected to reach US$1.84 billion in 2027, with a compound annual growth rate of 6.4%.
Spherical magnesium oxide market demand is mainly driven by the following factors:
The rapid development of the electronic and electrical industry. As electronic products become smarter, thinner and smaller, the demand for spherical magnesium oxide continues to increase. Spherical magnesium oxide can be used to make thermal interface materials, thermally conductive fillers, adsorbents, etc. to improve the performance and reliability of electronic products.
Expansion of the chemical industry. Spherical magnesium oxide has a wide range of applications in the chemical industry, including in the manufacture of plastics, rubber, coatings, adhesives, and more. As the chemical industry expands, the demand for spherical magnesium oxide will continue to grow.
Development of the construction industry. Spherical magnesium oxide can be used to manufacture insulation materials, fireproof materials, anti-corrosion materials, etc., and plays an important role in the construction industry. With the development of the construction industry, the demand for spherical magnesium oxide will continue to increase.
The application fields of spherical magnesium oxide mainly include the following aspects:
Electronics and electrical appliances: Spherical magnesium oxide can be used to manufacture thermal interface materials, thermal conductive fillers, adsorbents, insulating materials, etc. to improve the performance and reliability of electronic products.
Chemical industry: Spherical magnesium oxide can be used to manufacture plastics, rubber, coatings, adhesives, lubricants, etc., and has a wide range of applications in the chemical industry.
Building materials: Spherical magnesium oxide can be used to manufacture insulation materials, fireproof materials, anti-corrosion materials, cement, mortar, etc., and plays an important role in the construction industry.
Medicine: Spherical magnesium oxide can be used to manufacture drug carriers, adsorbents, antidiarrheal agents, etc., and has a wide range of applications in the pharmaceutical industry.
competitive landscape
The global spherical magnesium oxide market is mainly occupied by companies in countries and regions such as Japan, South Korea, and China. Among them, Japan’s Denka, Huber, ISHTAR and other companies are the world’s leading manufacturers of spherical magnesium oxide. China is the world’s largest producer of spherical magnesium oxide, and companies such as Baitu High-tech and Lianrui New Materials are the leading domestic manufacturers of spherical magnesium oxide.
In the future, the spherical magnesium oxide market will show the following development trends:
The demand for high-performance spherical magnesium oxide will continue to increase. As the performance requirements of electronic products continue to increase, the demand for high-performance spherical magnesium oxide will continue to increase.
The application scope of spherical magnesium oxide will continue to expand. With the continuous development of new technologies, spherical magnesium oxide will be used in new fields, such as new energy vehicles, 3D printing, etc.
The production technology of spherical magnesium oxide will continue to improve. With the continuous improvement of production technology, the production cost of spherical magnesium oxide will continue to decrease, which will help promote market development.