Impact of COVID-19 on : Implications on Business Magnesium Oxide Board Market
Magnesium Oxide Board Market: Overview
Magnesium oxide board, also called MgO board, is used primarily in the construction industry. It is a non-insulating sheathing board product. It is made of magnesium oxide, a type of mineral cement. Magnesium oxide board can be used in various applications such as wall and ceiling linings, fascias, soffits, tile backing, and underlayment. Magnesium oxide board is available in many forms. It is available in various thicknesses and sheet sizes for the building & construction industry. Magnesium oxide board is made from a mixture of magnesium oxide (MgO), non-organic minerals, bonders, and fiber mesh composites. It does not contain formaldehyde, asbestos, and toxic chemicals. Magnesium oxide board is also available in various grades such as smooth finishes, rough textures, and utility grades. It is white, beige, or light gray in color.
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Magnesium Oxide Board Market: Drivers & Restraints
Magnesium oxide board is used in place of traditional gypsum drywall, as wall and ceiling covering material and sheathing, It is also employed in a number of other construction applications. Magnesium oxide wallboards offer fire resistance as well as serve the purpose of insulation in the building & construction industry. Magnesium oxide present in the magnesium oxide wallboards is the key material that makes it fireproof. Magnesium oxide boards are used extensively for construction for commercial and residential properties. It is used for the renovating or repairing especially where plasterboard gypsum style linings or other kinds of deteriorating high maintenance plasterboard cement derivative products have been used.? Construction technology has been transforming; it is moving toward the fast and lightweight construction. Dry wall construction is widely accepted across residential, commercial, and industrial projects. It is energy efficient and economic.
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Magnesium oxide board is environmentally-friendly and produced without wastage of large amount of fossil fuels. It also does not release large amount of carbon dioxide into the atmosphere. This is one of the key factors driving the magnesium oxide board market. Magnesium oxide board & panels possess low thermal conductivity. Thus, it lowers the cost of insulation. Besides this, it offers excellent fire & acoustical properties.
Magnesium Oxide Board Market: Key Segments
Based on application, the magnesium oxide board market can be divided into residential, commercial, industrial, and others. Magnesium oxide wallboards are used in the construction industry, as they help lower construction and maintenance costs. They also exhibit superior performance compared to traditional wood, gypsum, and cement-based products. Exterior and interior wallboards made with magnesium oxide are not only strong, but are also known to be fire-resistant, mold proof, and nontoxic. They also provide insulation and hold up well in water.
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Magnesium Oxide Board Market: Regional Outlook
In terms of region, the global magnesium oxide board market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a dominant region of the magnesium oxide board market, followed by Europe and North America. Asia Pacific is estimated to account for large share of the global magnesium oxide board market, owing to the growth in the residential sector in countries such as China and India. Countries such as China, India, and Japan are driving the magnesium oxide board market in Asia Pacific owing to the presence of large number of manufacturing facilities in these countries. Furthermore, China possesses the largest deposits of magnesium oxide in the world.
Magnesium Oxide Board Market: Key Players
Key players operating in the magnesium oxide board market include SINH Building Solutions B.V., Supertec Ceilings & Board (Pty) Ltd, and North American MgO™ LLC.
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