Global Magnesium Oxide Market | Increasing Adoption of Magnesium Oxide in Water Treatment t
The global magnesium oxide market size is expected to grow by USD 1.24 billion during the period.
As per Technavio, increasing adoption of magnesium oxide in water treatment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Magnesium Oxide Market: Increasing Adoption of Magnesium Oxide in Water Treatment
With high adsorbing properties, magnesium oxide proves to be an effective agent for precipitating heavy metals from wastewater. The acid-neutralizing capacity of magnesium oxide also makes it a feasible substitute for lime in treating wastewater. Furthermore, the lower molecular weight of magnesium oxide aids in producing a comparably more compact sludge by using high volumes of magnesium oxide to precipitate heavy metal from wastewater. Thus, owing to the several benefits of magnesium oxide over lime, the demand for magnesium oxide for treating wastewater is likely to surge during the forecast period.
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Global Magnesium Oxide Market: Segmentation Analysis
This market report segments the magnesium oxide market by application (refractories, construction, agriculture, chemical, and others) and geography (APAC, Europe, MEA, North America, and South America)
APAC led the magnesium oxide market share in 2019, followed by Europe, North America, MEA, and South America respectively. The demand for magnesium oxide in the region is driven by its increased use as a fertilizer additive in the agriculture industry. Factors such as growing population, increasing availability of farming and agricultural lands, and rising demand for food grains are factors that will propel the agriculture industry in the region, which in turn will lead to the growth of the market.
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