March 02, 2023 07:48 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, March 02, 2023 (GLOBE NEWSWIRE) -- The increasing technological advancement in the construction industry is expected to foster the healthy growth of the market, states Fortune Business Insight, in a report, titled “Magnesium Oxide Boards Market Size, Share & and Regional Forecast, 2023-2030.” The growing adoption of MgO boards in the construction industry is expected to bolster the healthy growth of the market. Magnesium Oxide Board
The magnesium oxide (MgO) boards market is a growing industry that is gaining popularity due to the many advantages offered by these boards over traditional construction materials such as gypsum, cement, and wood. Magnesium Oxide Boards are made from a combination of magnesium oxide, magnesium chloride, and water, and are used in a variety of applications, including walls, ceilings, floors, and roofs.
Some of the key advantages of MgO boards include their fire resistance, moisture resistance, and durability. Magnesium Oxide Boards are also non-toxic, non-combustible, and resistant to mold, mildew, and insects. Additionally, MgO boards are easy to install and can be cut to size using standard tools, making them a cost-effective and efficient choice for construction projects.
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The Report Lists the Key Companies in the Magnesium Oxide Boards Market:
New Regulations Implemented by China to Aid Expansion
The increasing government initiatives for the adoption of new standards regarding building can enable healthy growth of the market. For instance, in November 2017, the Magnesium Oxide Association of China issued new standards for the implementation of chlorine-free magnesium oxide boards in buildings, which will effectively reduce the threat of fire accidents. The ongoing technological advancement in the construction industry for robust and eco-friendly buildings is expected to bolster the growth of the market.
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There are several drivers contributing to the growth of the magnesium oxide (MgO) boards market:
However, stringent government policies for the extraction of raw materials such as MgCO3 are expected to retard the growth of the market in the near future.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The increasing government initiatives for infrastructure development are expected to drive the market in the region.
The magnesium oxide (MgO) boards market is a global industry, with demand for these materials growing in regions such as Asia-Pacific, North America, Europe, and the Middle East and Africa (MEA). Here is a regional analysis of the MgO boards market:
Overall, the MgO board market is expected to grow globally in the coming years, driven by increasing demand for sustainable and eco-friendly construction materials, as well as the many advantages offered by MgO boards over traditional construction materials. However, the increasing investments by companies in Dubai and Abu Dhabi can create opportunities for the market.
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