Magnesium Oxide Nanoparticles Market To Reach $88.7 Million By 2030

Magnesium Oxide Nanoparticles MarketGrowth & Trends

The global magnesium oxide nanoparticles market size is expected to reach USD 88.7 million by 2030, registering a CAGR of 5.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Magnesium oxide nanoparticles are used as fuel additives to enhance fuel efficiency and maintain engine health and performance. Increasing demand from the fuel industry owing to increasing consumer awareness regarding high-performance fuels in order to prolong vehicle operating life is expected to drive market demand over the forecast period.

Furnace lining was the largest application market for magnesium oxide nanoparticles with demand estimated at over 60 tons in 2013, owing to favorable properties including large surface area, high purity, and hardness. Nanoparticles are also used in the construction and ceramic industry due to insulating and anti-bacterial properties, with estimated market revenue of over USD 4.0 million in 2013, growing at a CAGR of 9.1% from 2014 to 2020.

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Magnesium Oxide Nanoparticles Market Report Highlights

• The refractory material segment dominated the market with 52.4% share in 2023. The rising need for refractory materials due to their superior properties, along with the growing industrialization, acts as a strong driver for the magnesium oxide market.

• The oil products segment is projected to grow at a CAGR of 6.7% over the forecast period. The utilization of MONPs in enhanced oil recovery techniques is a key factor driving the growth in the oil products sector.

• Asia Pacific magnesium oxide nanoparticles market dominated the global market with 71.9% market share in 2023. This growth is attributed to the fast-growing industrial sector, especially in manufacturing, construction, and automotive.

Magnesium Oxide Nanoparticles Market Segmentation

Grand View Research has segmented the global magnesium oxide nanoparticles market on the basis of on application and region:

Magnesium Oxide Nanoparticles Application Outlook (Revenue, USD Million, Volume in Tons, 2018 - 2030)

• Oil Products

• Coatings

• Construction and Ceramics

• Advanced Electronics

• Aerospace

• Refractory Material

• Others

Magnesium Oxide Nanoparticles Regional Outlook (Revenue, USD Million, Volume in Tons, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

List of Key Players in the Magnesium Oxide Nanoparticles Market

• LBB Specialties LLC.

• Martin Marietta Materials

• American Elements

• Merck KGaA

• SkySpring Nanomaterials, Inc.

• Inframat Corporation

• Nanoscale Corporation

• Reinste Nano Ventures

• Nabond Technologies

• EPRUI Biotech Co.,Ltd.