The Magnesium Oxide Board Global Market Report 2023, provides comprehensive information on the magnesium oxide board market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global magnesium oxide board market size is expected to grow from $1.65 billion in 2022 to $1.76 billion in 2023 at a compound annual growth rate (CAGR) of 6.19%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of magnesium oxide board market is expected to reach $2.28 billion in 2027 at a CAGR of 6.73%.
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Product innovations have emerged as the key trend gaining popularity in the magnesium oxide board market. Major companies operating in the magnesium oxide board market are developing product innovations to strengthen their position in the market. For instance, in February 2021, Huber Engineered Woods (HEW), a US-based manufacturer of roof sheathing, wall sheathing, insulated R-sheathing, stretch tape, and liquid flash, introduced a new brand called EXACOR Magnesium-Oxide (MgO) panels. EXACOR panels, as a component of flooring systems, provide construction teams with an easy-to-work panel design that includes patented internal mesh fiber for structure and a magnesium-oxide formula for dimensional stability, fire protection, and sound dampening. These panels are available in nominal thicknesses of 1/2 (12mm), 5/8 (16mm), and 3/4 (20mm), and can help minimize both material requirements and labor time when compared to fire-rated flooring components, which need gypsum underlayment.
The magnesium oxide board market is segmented:
1) By Product Type: Thin (<8 mm), Medium (8-15 mm), Thick (>15 mm)
2) By Distribution Channel: Online Distribution Channel, Offline Distribution Channel
3) By Application: Residential Building, Commercial Building, Industrial Buildings, Other Applications
North America was the largest region in the magnesium oxide board market in 2022.
The table of contents in TBRC’s magnesium oxide board market report includes:
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