Magnesium Oxide Nanopowder Market size is forecast to reach $44.19 million by 2025, after growing at a CAGR of 7.92% during 2020-2025. Magnesium Oxide Nanopowder exhibits non-toxic and odorless properties owing to which there is increase in demand of magnesium oxide nanopowder from end use industries. Magnesium Oxide Nanopowder comes in white powder form and has a high melting point, hardness, and purity. Magnesium Oxide Nanopowder gains interest as a high-temperature dehydration agent for the manufacture of electronic products, silicon steel sheets and high-grade ceramics which will boost the Magnesium Oxide Nanopowder Industry.
Application- Segment Analysis
Refractory Materials held the largest share of 5.56% in Magnesium Oxide Nanopowder Market in 2019. Refractory Materials has various properties such as apparent porosity, apparent specific gravity, chemical composition, bulk density and strength at atmospheric temperatures. Due to these properties the demand of Magnesium Oxide Nanopowder in the manufacturing and quality control process applications of refractory materials will increase during the forecast period. Refractory materials has the ability to withstand action of liquid metal, ability to withstand high temperature and trap heat within a limited area such as a furnace, ability to withstand load at service environment and has ability to conserve heat.
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End Use- Segment Analysis
Furnace and boilers held the largest share in Magnesium Oxide Nanopowder Market in 2019. Magnesium oxide nanopowder which possesses higher thermal stability is an idle material for refractory’s that is used by furnace linings and boilers. Apart from these, owing to its anti-corrosion and fire-retardant properties, magnesium oxide nanopowder is extensively used in paints and coatings applications. Due to high insulating nature of magnesium oxide nanopowder, it finds its usage as filler in electric insulating material which can be used in crucibles, insulated conduits, electrode sheets, electrode bars, and smelters.
Geography- Segment Analysis
Asia-Pacific owing to the region’s developing economies holds the largest share of 34.69% in magnesium oxide nanopowder market. Automotive growth is one of the pillar industries in the country, and it continues to be the world’s largest market for vehicles. In addition, India’s construction sector is increasing at a higher pace with urbanization initiatives and new construction activities such as bridges, highways, urban infrastructure and buildings in more than 30 cities; FDI in the construction sector and rising population are expected to boost demand for magnesium oxide nanopowder over the forecast era. According to India Brand Equity Foundation, India plans to spend US$ 1.4 trillion on infrastructure in the next five years. Also, by 2019, India’s national highway network is set to cover 50,000 kilometers. National highway construction in India grew year-on-year by 20 per cent in 2017-18.
Drivers –Magnesium Oxide Nanopowder Market
Increasing demand of Magnesium Oxide Nanopowder from flame retardant chemicals
Magnesium Oxide Nanopowder is used inflame retardant chemicals which slows down ignition and prevent fires. With the increasing demand in the textile sector for high-performance flame-retardant fiber, the synthesis of new high-performance flame retardant provides ideal material for practical fabric growth. Along with sawdust, wood shavings, magnesium oxide nanopowder is also used to create fire-resistant fiberboards and other refractory products, as well as metal ceramics with the benefit of light weight, sound insulation and thermal insulation. Similar to conventional organic phosphorus or halogen flame retardants, magnesium oxide nanopowder are non-toxic, tasteless and require only a limited number, rendering them suitable for the production of flame-retardant fiber.
Increasing use of Magnesium Oxide in Fuel Additives
Magnesium oxide Nanopowder is used as fuel filler that essentially reduces the corrosion of industrial boiler machinery burning liquid and solid fuel at low and elevated temperatures. Also, Magnesium oxide Nanopowder is used in the manufacture of fuel and lubricant additives, and especially in the manufacture of over based magnesium sulphonates and carboxylates that function as ash and corrosion detergents in gas turbines and engines.
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Challenges – Magnesium Oxide Nanopowder Market
Health hazards of Magnesium Oxide Nanopowder
Metal fume fever is caused with the inhalation of magnesium oxide fumes. Metal fume fever also known as metal dust fever is an illness primarily caused by exposure to chemicals such as Magnesium Oxide which are produced as byproducts in the fumes that result when certain metals are heated. The inhalation of such chemicals induces metal fume fatigue, either as fine particles or more often as gases. Simple metal compounds are equally capable of causing it such as oxides. Exposure typically happens by hot metalworking methods, such as smelting and processing, galvanized metal welding, brazing, or soldering. The residual from cold sanding processes can even trigger fume fever if the metal involved is particularly high risk, even though the dosage is smaller.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Magnesium Oxide Nanopowder market. Major players in the Magnesium Oxide Nanopowder Market are Inframat Advanced Materials, Llc , Merck Kgaa , Reinste Nano Venture Pvt Ltd , Sigma-Aldrich Co. Llc , Skyspring Nanomaterials, Inc , Strem Chemicals, Inc , U Research Nanomaterials, Inc among others.
Rising demand of magnesium oxide Nanopowder for fuel additives in the transport sector to improve fuel quality is expected to support the magnesium oxide Nanopowder market over the forecast era.
Increasing demand of magnesium oxide nanopowder acceptance as a fire retardant in flammable chemicals to avoid excessive fire-related losses is expected to drive industry growth.
Consumption of magnesium oxide fumes causes health hazards such as metal fume fever which can create hurdles in magnesium oxide nanopowder Industry.
Due to COVID-19 palindrome, the construction and engineering sector will face multiple challenges such ranging from lack of capital and credit avenues to insolvencies multiple fraud and regulatory burden in the year 2020-2021.
Related Reports :
A. Magnesium Perchlorate Market
B. Magnesium Oxide Nanoparticle Market
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