Global magnesium oxide market set for solid growth by 2031 DUBAI, 2 days ago Global magnesium oxide market is set for solid growth over the next 10 years with a CAGR of 5 per cent by 2031, according to a report by consulting firm Future Market Insights.
Increasing research and development activities conducted to study application of dead burned magnesia and fused magnesia is one of the key factors driving the market, stated the Esomar-certified consulting firm in this study.
According to FMI experts, surging government investment in agricultural and industrial sector will boost the market. Rising demand of magnesium oxide in development of refractory linings of furnace in iron and steel industry will positively influence the market growth, they added.