International. According to transparency market research, the global nanopowder magnesium oxide market was valued at $1.69 billion in 2014 and is projected to reach $3.45 billion by 2023, growing at a CAGR of 8.3% between 2015 and 2023.
This product is processed using magnesium ore as a raw material. The manufacture of nanopowder magnesium oxide is an energy-intensive process, in which magnesium hydroxide is calcined at high temperature. The magnesium oxide produced as a result of calcination has a high thermal and chemical stability; therefore, it is used in the manufacture of flame retardant paints and coatings.
It is also used in refractory coatings applied in furnaces and boilers. Nanopowder magnesium oxide has large surface area compared to particle size. This makes it useful in the construction industry. It is also widely used in the field of electronics and electrical, due to its excellent insulating properties, and is employed in applications such as fuel additives, as it acts as a corrosion inhibitor.
The paints and coatings industry has experienced an increase in demand as a result of infrastructure development in North America. Therefore, the demand for magnesium oxide nanoparticles as an anti-bacterial coating is anticipated to increase, due to the growth of the construction industry.
