Magnesium oxide's particular properties make it a coveted product around the world. Currently, annual world production is more than 12 million tons, the majority coming from Asia, with a mediocre quality level. Growth is constant. In 2019, the market was valued at over $6.2 billion with a projected growth of $1.24 billion (+4%) expected between 2020 and 2024.
(Source: Business Wire)
(Source: Business Wire)
China is the main producer of MgO, but is known to employ polluting processes. Much of the Chinese production is in the mid-range quality segment. The global trend is to turn to high-purity MgO that in turn produce more durable products. In Europe and North America, markets and customers are now looking for reduced carbon emissions in a global context.
