What Fueled The Previous Growth In The Magnesium Oxide Nanopowder Market?
The magnesium oxide nanopowder market has seen considerable growth due to a variety of factors.
• The market size of magnesium oxide nanopowder has been witnessing robust growth lately. The market is forecasted to expand from $3.28 billion in 2024 to $3.6 billion in 2025, with a compound annual growth rate (CAGR) of 9.8%.
The upward trend during the historic timeframe was a result of an escalating demand for cutting-edge materials, an uptick in the needs from the electrical segment, government policies, and increasing utilization in electrical and optical applications.
How Does the Forecast Look for the Magnesium Oxide Nanopowder Market?
The magnesium oxide nanopowder market is expected to maintain its strong growth trajectory in upcoming years.
• A significant expansion is anticipated for the magnesium oxide nanopowder market over the coming years, with a projected value of $5.09 billion by 2029 and an annual growth rate (CAGR) of 9.0%.
Several factors contribute to this expected growth during the forecast period, including the increasing needs from the construction sector, the expanding healthcare sector, growth in the automotive industry, demand from the environmental sector, and the rising use in the textile industry. Key trends during the forecast period include innovative nanopowder production, nano-based sensors and devices, cutting-edge construction substances, energy storage and conversion, plus research and development ventures in the magnesium oxide nanopowder space.
What Are The Leading Drivers Of Growth In The Magnesium Oxide Nanopowder Market?
Anticipated to be driven by rising demand for electronic goods, growth in the magnesium oxide nanopowder market is foreseen. Electronic goods, which are gadgets that employ electronic circuits and components for the execution of specific functions or duties, use magnesium oxide nanopowders for coating, enhancing their endurance and resistance to wear. This is exemplified by LG's Consumer Electronics, a South Korean business, which exceeded $60 billion in sales in 2022, a 12.9% increase from the previous year's amount of around $52.70 billion, as indicated by their annual financial statement 2022. LG Home Appliance & Air Solution Company's revenue was notably $22.5 billion in 2022, a 10.3% year-on-year increase. Such growth in electronic goods demand is fuelling the expansion of the magnesium oxide nanopowder market. One prominent driver seen fueling the Magnesium Oxide Nanopowder Market is increased demand for CO2 emission reduction. This essentially refers to the lowering of greenhouse gases by an individual, organization, or state. Due to distinctive features like surface area and porosity, magnesium oxide nanopowder serves as a CO2 adsorbent. Furthermore, a reaction of magnesium oxide with CO2 and water in the atmosphere or engine plume can lead to the formation of magnesium bicarbonate or magnesium carbonate, potentially reducing CO2 emissions from aviation. In 2024, the U.S. Energy Information Administration reported a 3% reduction in energy-related CO2 emissions in the U.S., equivalent to a drop of 134 million metric tons, primarily attributed to the electricity production sector. Therefore, the growing requirement for CO2 emission reduction is propelling the magnesium oxide nanopowder market.
How Are The Segments Defined Within The Global Magnesium Oxide Nanopowder Market?
The magnesium oxide nanopowder market covered in this report is segmented –
1) By Type: 99% Magnesium Oxide Nanopowder, 99.9% Magnesium Oxide Nanopowder, 99.99% Magnesium Oxide Nanopowder, 99.999% Magnesium Oxide Nanopowder
2) By Application: Refractory Materials, Electric Insulation, Magnetic Devices, Fuel Additive, Fire Retardant
3) By End-User Industry: Metallurgy, Construction, Oil And Gas, Automotive, Electrical And Electronics, Other End-User Industries
Subsegments:
1) By 99% Magnesium Oxide Nanopowder: Industrial Grade, Agricultural Grade
2) By 99.9% Magnesium Oxide Nanopowder: Electronics Grade, Coating Grade
3) By 99.99% Magnesium Oxide Nanopowder: Pharmaceutical Grade, Optical Grade
4) By 99.999% Magnesium Oxide Nanopowder: High-Purity Electronics Grade, Laboratory Grade
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Who Are the Key Players In The Magnesium Oxide Nanopowder Market?
Major companies operating in the magnesium oxide nanopowder market are:
• SkySpring Nanomaterials Inc.
• Martin Marietta Materials Inc.
• Sigma-Aldrich
• Shenzhen Kedali Industry Co. Ltd.
• Sisco Research Laboratories Pvt. Ltd.
• Baikowski SAS
• Inframat Alloys Pvt. Ltd.
• GFS Chemicals Inc.
• Strem Chemicals Inc.
• American International Chemical Inc.
• American Elements
• Superior Supplement Manufacturing Inc.
• High Purity Laboratory Chemicals Pvt. Ltd.
• Techinstro Industries
• Nanoshel LLC
• Nanografi Co. Inc.
• Nanostructured & Amorphous Materials Inc.
• Aremco Products Inc.
• US Research Nanomaterials Inc.
• Nanjing XFNANO Materials Tech Co. Ltd.
• Zibo Tianheng New Nanomaterials Technology Co . Ltd.
• Chemsol Group
• Eprui Nanoparticles & Microspheres Co. Ltd.
• Reinste Nano Ventures Pvt. Ltd.
• NextGen Nano Limited .
What Is The Most Dominant Region In The Magnesium Oxide Nanopowder Market?
Asia-Pacific was the largest region in the magnesium oxide nanopowder market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in magnesium oxide nanopowder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
