From 2022 to 2030, the Asia Pacific Dead Burned Magnesia Market is expected to develop at a CAGR of 4.55%, reaching USD 2668.60 million. Asia Pacific is the global leader having the maximum market share for Dead Burned Magnesia.
DBM stands for refractory magnesia (Dead Burned Magnesia). It's created by heating magnesium hydroxide and has a wide range of industrial and agricultural uses. It possesses the highest melting point and is a common regulation material in the steel industry for high-temperature processes. Refractory materials are non-metallic compounds that are used as linings in furnaces, kilns, and reactors because they are exceptionally heat resistant. For example, the steel sector is the greatest user of refractory magnesia. Magnesia is used in agriculture to boost the health of plants and cattle. Magnesium is an essential mineral for both. Plants require magnesium for photosynthesis. Magnesium is required for animals to avoid hypo magnesia, often known as grass tetany, a potentially fatal condition. DBM is used to make essential monolithic refractory goods such tundish working linings, gunning repair items, and precast shapes, among other things. DBM is used to make essential monolithic refractory goods such as tundish working linings, gunning repair items, and precast shapes, among other things. Lockdowns, mining limitations, and a slowdown in steel output, to name a few causes, all had an impact on the global market. A slowdown in the steel and construction sector caused significant losses in the industrialized world.
Report Metric | Details |
---|---|
Base Year | 2021 |
Study Period | 2020-2030 |
Forecast Period | 2023-2031 |
CAGR | 4.55% |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
From 2022 to 2030, the Asia Pacific Dead Burned Magnesia Market is expected to develop at a CAGR of 4.55%, reaching USD 2668.60 million. Asia Pacific is the global leader having the maximum market share for Dead Burned Magnesia.
China contributes to climate change by emitting around a quarter of the world's ozone-depleting pollutants. Additional natural concerns, such as soil and water contamination, have resulted from its carbon-elevated sections. The government aims to limit steel production as part of its environmental goal of carbon neutrality by 2060. China's steel output is influenced by these factors and this shall affect the demand for DBM in a Chinese province.
The Environment Protection Act (EPA) and the Ministry of Environment and Forests' Environment Protection Rules and Regulations control the iron and steel industry in India (MoEF&CC). Before developing or expanding new iron and steel mills, businesses must first acquire legal clearance from the Environmental Protection Agency (EPA). Pollution Control Boards at the federal and state levels are in charge of these. It is a very significant factor to consider as it is a known fact that the majority of the DBM (more than 60%) is used in the steel industry.
Japan produced roughly 83.2 million tonnes of crude steel in 2020. As a result, Japan was one of the world's main producers of crude steel in 2020, accounting for roughly 5.3% of global crude steel production volume and hence a lot of demand is expected for the Dead Burned Magnesia in the country during the forecasted period.
The Asia Pacific Dead Burned Magnesia Market is classified into four product types: 90%, 90%–92%, 92–95%, and more than 95%. The 90–92% sector will account for a significant percentage of the market, accounting for 16.5% in 2020, thanks to a strong CAGR of 3.74%. At the end of the figure period, it is predicted to reach USD 623,901.6 thousand. The remaining 90–92% is dead-eaten magnesia, which has a MgO content of 90–92%. DBM is sintered directly from crude magnesite faults in 90–92% of occurrences.
Steel accounted for 60.72% of the pie, according to esteem, and is expected to grow at a strong CAGR of 4.42% over the projection period. DBM is known for its thermal resistance and hardness, and as a result, it has a wide range of uses in the steel industry. It's also a good environmental solution, thus it's in high demand.
Steel is noted for its durability and resistance to corrosion. It's used in a number of industries, including construction and shipbuilding. The popularity of DBM-based refractories has risen in tandem with the growth of the steel industry. In addition, DBM has entered the heater lining business with the move to optional steel, which uses an electric heater to liquefy the salvaged material.