Magnesium Oxide Board Market Share, Size and Growth Report 2024

The SNS Insider report estimates the Magnesium Oxide Board Market size at USD 1641.5 million in 2023, with a projected CAGR of 5.35% to reach USD 2492.4 million by 2031. The global market is primarily driven by the increasing demand for lightweight construction materials aimed at cost-saving and reducing structural load. This demand surge is notably fueled by a substantial rise in construction and infrastructure development activities, especially in emerging economies.

Additionally, the growing consumer preference for sustainable, energy-efficient, and eco-friendly building materials is contributing to market growth. Stringent government regulations pertaining to building materials and fire safety standards are further propelling market expansion, ensuring occupant safety and minimizing fire hazards.

Furthermore, continual technological advancements and innovations in magnesium oxide board manufacturing processes, including enhanced formulations and surface treatments, are presenting lucrative opportunities in the market. The market is also benefiting from the growing popularity of aesthetic and trendy interior décor preferences.

Moreover, the rapid adoption of magnesium oxide boards as insulation and cladding materials in non-residential applications, driven by their excellent thermal insulation properties, is fostering a positive market outlook.

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Some of the Key Players Included are:

Magnum Board Products, LLC., Ambient Bamboo Products Inc., GemtreeBoard, KUNSHAN ROCKMAX BUILDING MATERIAL CO, Ukrmagnesit, Suparna Building Materials, RPV Industries, Ambient Bamboo Products Inc., North American MgO LLC, Foreverboard California, Inc, and other key players are mentioned in the final report.