Magnesium Oxide Nanoparticle Market to Grow at a CAGR of 6.5% During 2021-2026

Magnesium Oxide Nanoparticle Market
Rising Use of Magnesium Oxide Nanoparticle as a Catalyst to boost the Magnesium Oxide Nanoparticle Market in the forecast period.

Magnesium Oxide Nanoparticle Market size is forecast to reach US$63.3 million by 2026 and is growing at a CAGR of 6.5% during 2021-2026. Green synthesis environment-friendly process is used to make magnesium oxide nanoparticles. Magnesium oxide nanoparticles come in a white powder form and are odorless and non-toxic. Because of their structure, surface characteristics, and durability, magnesium oxide nanoparticles have a lot of potential as bactericidal agents in food safety applications. Magnesium oxide nanoparticles have long been thought to be a good nonhalogen fire retardant. To operate as a corrosion inhibitor, magnesium oxide nanoparticles have been manufactured using several ways. Magnesium oxide nanoparticles could be employed as a high-temperature dehydrating agent in the production of silicon steel sheets, high-grade ceramic materials, and electronic industry materials, among other things. Hence due to the various use of magnesium oxide nanoparticles the Magnesium oxide Nanoparticle Market is going to grow in the forecast period.

COVID-19 Impact

Due to the COVID-19 pandemic, the Magnesium Oxide Nanoparticle Market was highly impacted. Most of the manufacturing plants of Magnesium Oxide Nanoparticlewere shut down, which declined the production of Magnesium Oxide Nanoparticle. Also, due to supply chain disruptions such as raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff, OEMs have been forced to function at zero or partial capacity, resulting in lower demand and consumption for Magnesium Oxide Nanoparticle. However, with gradual lockdown relaxations, manufacturers started operating with a minimum workforce abiding by necessary covid-19 norms. The Building and Construction work gradually started across the globe. The Magnesium Oxide Nanoparticle Market is expected to overcome the small economic disruption and further grow in the forecast period.

Magnesium Oxide Nanoparticle Market Segment Analysis – By Magnesium Oxide Types

The Light Burned Magnesium Oxidesegment held the largest share of 38% in the Magnesium Oxide Nanoparticle Market in 2020. Magnesium oxide (MgO), often termed as magnesia, is used in a range of industries, notably as the primary constituent in magnesium oxychloride (MOC) cement. However, it has been discovered that the grade of Light Burnt MgO, particularly its reactivity, can vary greatly, affecting the workability and performance of magnesia-based end products. So evaluating the reactivity of MgO becomes critical to the continued development and success of magnesia-based industrial applications. The fine particles of light burned magnesium oxide offer excellent reactivity, therefore it is increasingly being used as a surface treatment agent and as a ceramic raw material. These are also used as an additive in plastic. Hence due to various use of Light burned Magnesium oxide in industrial applications, it is going to boost the Magnesium Oxide Nanoparticle Market in the forecast period.

Magnesium Oxide Nanoparticle Market Segment Analysis – By Application

The Ceramic segment held the largest share in the Magnesium Oxide Nanoparticle Market in 2020 and is growing at a CAGR of 6.9% during 2021-2026. Magnesium oxide is by far the most widely used shear ceramic because it has outstanding thermal conductivity and electrical resistance even at high temperatures. This Magnesium Oxide ceramic is a fine-grained, totally burned inert material that resists assault by metals such as Sodium, Nickel-based superalloys, Plutonium/Uranium systems, fluxes, and superconductor compounds. It has strong mechanical strength and performs well when heated or cooled consistently and without thermal shock. It outperforms Alumina and is temperature stable up to 2200Β°C. However, temperature creep happens above this point. It is employed in the manufacturing of piezoelectric materials because of its resistance to lead-based compounds. According to MECSManufacturing Economic Studies) in 2019, the export of ceramic across the world grew by 31 Million square meters. Hence the growth of the global ceramic will further boost the Magnesium Oxide Nanoparticle Market growth in the forecast period.

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Magnesium Oxide Nanoparticle Market Segment Analysis – By End Use Industry

The Electrical and electronics segment held the largest share in the Magnesium Oxide Nanoparticle Market in 2020 and is growing at a CAGR of 7.6% during 2021-2026. Magnesium Oxide Nanoparticle is used to make induction furnaces, smelters, shielded conduits, cathode bars, and electrostatic sheets in electrically insulating materials. In the radio business, strong magnetic antennas, electromagnetic apparatus fillers, dielectric material fillers, and various payloads are used. Broadband Dielectric Spectroscopy is used to investigate the dielectric characteristics of nanoscale magnesium oxide powder. This one-of-a-kind research show how specific capacitance and loss factor behave over a wide frequency and surface temperature. This research is accompanied by a study of electrical constants (dielectric intensity, thermal resistance, attenuation coefficient, and absorption coefficient) of epoxy-based composites depending on the refill amount, which follows current trends in the application of nitrogen Nanofillers are by far the most crucial parameters in the engineering of electrical insulation.

Magnesium Oxide Nanoparticle Market Segment Analysis – By Geography

Asia Pacific region held the largest share in the Magnesium Oxide Nanoparticle Market in 2020 up to 43%. In light of the current economic climate, the worldwide electronics and information technology industries are expected to grow 2% over the year in 2020 to US$2,972.7 billion, and 7% sales growth in 2021 to US$3,175.6 billion, according to JEITA’s biannual industrial assessment. According to the Indian electronics industry, Electronics was valued at US$200 Billion in 2019 and was expected to reach US$540 Billion by FY20. The electronics industry developed in the most advanced industrialized countries: the European Congregation, Japan, and the United States. It concentrates on semiconductors, computers, electrical goods, and wireless communications. It explores how gadgets developed in the most developed economies: the Countries of the EuropeanUnion, Japan, and the United States. The electronic industries of a few developing and freshly industrialized regions are also assessed. Hence due to the global electronics industry growth, the Magnesium Oxide Nanoparticle Market is going to grow in the forecast period.

Magnesium Oxide Nanoparticle Market Drivers

Increasing Pharmaceutical Use of Magnesium Oxide Nanoparticle

Magnesium oxide nanoparticles (MgO nanoparticles) is promising structural materials in a variety of disciplines, including cancer treatment. The antibacterial characteristics of magnesium oxide nanoparticles have sparked interest in their usage in biomedical applications. Antimicrobial activity against Gram-positive and Gram-negative bacteria, spores, and viruses has been observed, and they can be made from inexpensive precursors. Chemically synthesized magnesium oxide nanoparticles and Zein-based magnesium oxide nanoparticles have been shown to have antibacterial properties and to form biofilms on various oral pathogens. According to the European Federation of pharmaceutical industries and associations, the world pharmaceutical industry was estimated US$1,062,923 million in 2019. With a 48.7% share, the North American industry segment is expected to lead in the global arena, leading Europe and Japan. Due to the growth of the Pharmaceutical industry globally, the Magnesium Oxide Nanoparticle Market is going to grow in the forecast period.

Rising Use of Magnesium Oxide Nanoparticle as a Catalyst

Due to certain properties, such as redox reactions and morphology, covalent bond valence, photostability, hydrochloric character, and crystal and electronic structure, MgO nanoparticle is commonly regarded as a promising high-surface-area heterogeneous catalyst support, additive, and promoter for a wide range of chemical reactions. By transferring electrons between the foreign catalysis and MgOnanoparticle as support, the presence of MgO nanoparticles as an endorsed catalyst affects the electronic state of the overall electrocatalytic activity. Changes in the acid-base characteristics of the turning point MgOnanoparticle reveal the impact. Meanwhile, in the synthesis of MgO nanoparticles the process, compositions, and conditions are critical. Hence due to the essential use of magnesium oxide nanoparticles as catalysts in the chemical process, it is going to boost the Magnesium Oxide Nanoparticle Market in the forecast period.

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Magnesium Oxide Nanoparticle Market Challenges

Environmental pollution and health hazard associated with Magnesium Oxide Nanoparticle:High amounts of MgO Nanoparticles are hazardous. Furthermore, malignant cells are more hazardous to MgO Nanoparticles than non-cancerous cells. When MgO Nanoparticles were used, ROS (Reactive Oxygen Species) mediated genotoxicity was discovered. MgO Nanoparticles can be absorbed and accumulated in the tissues via the skin, lungs, and digestive system. However, many of its actions, particularly in regard to its hazardous effect, are still unknown. Model species such as fishes were used to study the toxic effects of MgO nanoparticles. The limited knowledge on the utilization of certain nanoparticles by terrestrial species, particularly in natural soils, is a major problem. Studies on the toxicity of MgO nanoparticles must be systematized in order to better understand the impacts when these nanoparticles are integrated into the soil, especially as this is a preferred destination for many nanoparticles after they are applied.

Magnesium Oxide Nanoparticle Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Magnesium Oxide Nanoparticle Market. Magnesium Oxide Nanoparticle Market top companies include:

American Elements

Inframat Advanced Materials, LLC.

MARTIN MARIETTA MAGNESIA SPECIALTIES, LLC.

SkySpring Nanomaterials, Inc.

Reinste Nano Ventures.

EPRUI Nanoparticles & Microspheres

Sigma Aldrich

Strem Chemicals

US Research Nanomaterials

Altair Nanomaterials and others

Key Takeaways

Asia Pacific dominates the Magnesium Oxide Nanoparticle Market, owing to the increasing usage in Fuel additives, cleaner, bactericidal agent and corrosion inhibitors in various industries.

Magnesium oxide (MgO) is frequently utilized in the chemical industry as a catalyst support and chemical intermediate and as a scrubber for air-polluting gases.

Refractory materials and superconductors are important aspects to consider with MgO nanoparticles due to the possible presence of O vacancies. These can have an influence on the and chemical as well as electronic properties of the Magnesium oxide nanoparticles.

Magnesium oxide is widely used in biomedical and pharmaceutical applications such as drugs and antimicrobial agents. Hence due to the vast use of magnesium oxide nanoparticles, it is going to further boost the Magnesium Oxide Nanoparticle Market in the forecast period.

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