2024 Magnesium Oxide Board Market Analysis and Development Trends

2024 Magnesium Oxide Board Market Analysis and Development Trends

In 2024, the global magnesium oxide board market reached a scale of $1.727 billion. The market is projected to grow from $181.2 million in 2025 to $2.3727 billion by 2032, achieving a compound annual growth rate (CAGR) of 5.4% during the forecast period. The Asia-Pacific region accounted for 50.28% of the market share in 2024. Additionally, the U.S. magnesium oxide market is expected to experience substantial growth, with an estimated value of $401.92 million by 2032, driven by increasing demand from the construction industry.

Compared to gypsum, wood, and cement-based products, magnesium oxide boards represent a superior building material offering enhanced performance. Magnesium oxide is a mineral cement produced under pressure and heat, containing both magnesium and oxygen. MgO boards offer several attractive features, including excellent fire resistance, energy efficiency during production, and reduced waste. Furthermore, due to their antifungal properties, they are resistant to rot, mold, mildew, and allergens. These boards have gained significant attention from contractors due to their easy installation and lightweight nature, being 20-30% lighter than cement-based products.

Rising residential and commercial building construction creates growth opportunities for the market:
The continuous growth in commercial and residential construction has boosted product demand. Exceptional insulation qualities, soundproofing, and fire resistance are key characteristics that are expected to drive the growth of the magnesium oxide board market.

Growing investment in eco-friendly products and materials will drive market expansion:
Eco-building refers to the use of environmentally friendly materials and products in constructing buildings. This has increased the demand for MgO boards as they are free from formaldehyde, asbestos, benzene, and other harmful radioactive elements. They are also characterized as smokeless, non-toxic, and non-combustible.

High-moisture environments can affect the durability of MgO boards:
MgO boards are not suitable for exterior walls, roofing materials, or any other applications involving direct contact with moisture. MgO absorbs moisture from the external air, and in some cases, the boards may absorb water droplets upon contact, reducing their durability. When the relative humidity (RH) exceeds approximately 84%, such boards may form a layer of salty droplets on their surface. This moisture is absorbed by the wooden structure of these boards, which may lead to mold growth. Due to their organic content, boards made from MgO are susceptible to decay.

These boards can also rapidly corrode when in contact with metal flashings, fasteners, and components made of galvanized steel, compromising structural safety. Additionally, due to the dissolution of salts in high-humidity climates, they may deteriorate over time. Consequently, the demand for magnesium oxide boards is hindered in regions with high humidity, as they may not withstand product lifespan in damp climates.

With ongoing improvements in material formulations and innovations in surface treatment technologies, the moisture resistance of magnesium oxide boards is being significantly enhanced. Our company, ZhuChen, remains committed to monitoring industry technological advancements, providing customers with the highest quality magnesium oxide board products and professional solutions, and jointly promoting the progress and application of green building materials.