What is Global Magnesium Oxide Boards Market?
The Global Magnesium Oxide Boards Market is a vast and dynamic sector that has been gaining significant attention in recent years. Magnesium Oxide Boards, also known as MgO boards, are a type of sheathing board with a core made from magnesium oxide and are used in the construction industry. These boards are known for their superior fire resistance, strength, and durability. They are also environmentally friendly, making them a popular choice in sustainable building projects. The market for these boards is global, with demand coming from all corners of the world. The market's value was estimated at US$ 1749 million in 2022. It is projected to grow at a Compound Annual Growth Rate (CAGR) of 4.6% from 2023 to 2029, reaching an estimated value of US$ 2405.1 million by the end of the forecast period.
Thin (under 8 mm), Medium (8-15 mm), Thickness (above 15mm) in the Global Magnesium Oxide Boards Market:
The Global Magnesium Oxide Boards Market is segmented based on the thickness of the boards. These segments include Thin (under 8 mm), Medium (8-15 mm), and Thickness (above 15mm). The Medium (8-15 mm) segment is the largest, accounting for about 45% of the market. These boards are versatile and can be used in a variety of applications, from residential to commercial construction. The Thin (under 8 mm) and Thickness (above 15mm) segments, while smaller, also represent significant portions of the market. Each segment has its unique characteristics and applications, contributing to the overall growth and diversity of the market.
Residential Building, Commercial Building, Industrial Buildings in the Global Magnesium Oxide Boards Market:
The Global Magnesium Oxide Boards Market finds its applications in various areas such as Residential Building, Commercial Building, and Industrial Buildings. In Residential Buildings, these boards are used in the construction of walls, ceilings, and floors due to their fire resistance and durability. In Commercial Buildings, they are used in offices, retail spaces, and other commercial establishments for the same reasons. Industrial Buildings also make use of these boards due to their strength and resistance to harsh conditions. The versatility and superior properties of Magnesium Oxide Boards make them a popular choice in all these areas, driving the growth of the market.
Global Magnesium Oxide Boards Market Outlook:
To recap, the Global Magnesium Oxide Boards Market was valued at US$ 1749 million in 2022. It is expected to grow at a CAGR of 4.6% from 2023 to 2029, reaching an estimated value of US$ 2405.1 million by the end of the forecast period. The market is segmented based on the thickness of the boards, with the Medium (8-15 mm) segment being the largest. The market finds its applications in Residential Building, Commercial Building, and Industrial Buildings. The top three global players hold a share of about 5% in the market.
| Report Metric | Details |
| Report Name | Magnesium Oxide Boards Market |
| Accounted market size in 2022 | US$ 1749 in million |
| Forecasted market size in 2029 | US$ 2405.1 million |
| CAGR | 4.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Magnum Building Products, Gemtree Board, Huizhou Meisen Board, Yongjia Decorative Material, Ruenzhong Building Material, Hongcheng Board, Shandong Oulade, Wantai Wood, Shanghai Xinlong Fireproofing, Suqian Tianyi, TRUSUS, Pengfei Fireproof New Materials, Suzhou Kunshi New Building Materials, Tongxing |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
