Magnesium Oxide for Oriented Silicon Steel Market size was valued at USD 1.5 Billion in 2024 and is projected to reach USD 2.5 Billion by 2033, exhibiting a CAGR of 6.2% from 2026 to 2033.
The global Magnesium Oxide for Oriented Silicon Steel Market was valued at USD 1.35 billion in 2022 and is projected to expand at a Compound Annual Growth Rate (CAGR) of 6.5% from 2023 to 2030. The growing demand for high quality oriented silicon steel in applications such as transformers and electric motors drives the market growth. The Asia Pacific region holds the largest share in the global market, accounting for over 45% of the market revenue in 2022. This growth is primarily driven by the rapid industrialization and infrastructure development in countries like China and India. The regions dominance is supported by the increasing demand for electrical steels in power generation and transmission sectors.
North America and Europe also hold significant market shares, with North America accounting for approximately 25% of the market in 2022. The demand for magnesium oxide in electrical steel production in these regions is driven by the robust automotive and energy sectors. The growing focus on energy efficiency and the need for better performing electrical steels further propel market growth. Meanwhile, the Middle East and Africa, along with Latin America, present untapped opportunities for market players, with a modest share in 2022. These regions are anticipated to witness steady growth, driven by expanding industrialization, rising infrastructure projects, and increasing demand for efficient electrical steel production in the coming years.
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Tateho Chemical
Shanxi Yinsheng Technology
ICL-IP
Shanghai SIIC Zhentai Chemical
Meishen Technology
JSC Kaustik
Martin Marietta Magnesia Specialties
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Magnesium Oxide for Oriented Silicon Steel Market
Magnesium Oxide Powder
Magnesium Oxide Granules
Magnesium Oxide Pellets
High Purity Magnesium Oxide (≥ 99%)
Medium Purity Magnesium Oxide (90% - 99%)
Standard Purity Magnesium Oxide (< 90%)
Electrical Insulation
Steel Production
Coating and Insulation Materials
Magnetic Properties Enhancement
Bulk Packaging
25 kg Bags
Drum Packaging (200 kg)
Customized Packaging Solutions
Steel Manufacturing
Electronics and Electrical Applications
Automotive Industry
Renewable Energy Sector
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Magnesium Oxide for Oriented Silicon Steel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Magnesium Oxide for Oriented Silicon Steel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Magnesium Oxide for Oriented Silicon Steel Market, By Type
6. Global Magnesium Oxide for Oriented Silicon Steel Market, By Application
7. Global Magnesium Oxide for Oriented Silicon Steel Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Magnesium Oxide for Oriented Silicon Steel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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