Fused Magnesium Oxide Market Drivers, Cost Structure Analysis and Future Projections till 2023 “Fused magnesium oxide is perfectly crystallized, has strong resistance to corrosion, is dense in texture and performs excellently in high temperatures. It is gaining popularity since it performs well under extreme conditions.�
Global Fused Magnesium Oxide Market is expected to witness substantial growth in the coming years due to high demand form the automotive industry. Magnesium oxide is a naturally occurring periclase white solid mineral and a source of magnesium. Fused magnesium oxide is perfectly crystallized, has strong resistance to corrosion, is dense in texture and performs excellently in high temperatures. It is gaining popularity since it performs well under extreme conditions. Fused magnesium oxide is majorly used to manufacture crucibles and furnace linings that produce alloy steels. It is also an excellent electrically insulated material. The major drivers of fused magnesium oxide market are increase in demand from agriculture and iron & steel industry, growth in industrialization and increasing emphasis on sustainable industry activities. Moreover, rise in demand from refractory application and steady growth in the industry is also driving the market. High availability of magnesium substitutes that decreases the demand for magnesium oxide is hampering the market growth. Magnesium substitutes have similar chemical and physical properties. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/fused-magnesium-oxide-market Increase in the number of mergers with suppliers by refractory organizations for ensuring consistent raw material supply is an emerging trend in the market. This saves cost and improves efficiency for the companies. Fused magnesium oxide market is categorized on the basis of type, application, and geography. On the basis of type, market is divided into dead-burned magnesia (DBM), caustic calcined magnesia and fused magnesia. Caustic calcined