Global Magnesium Oxide Nanopowder Market to Expand at 8.30% CAGR 2015-2023 Propelled by its Excellent Flame-retardant and Insulating Properties
The development of cost-effective manufacturing processes is projected to serve as a major opportunity for players within the global magnesium oxide nanopowder market , says Transparency Market Research in its latest report. The report, titled “ Magnesium Oxide Nanopowder Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 ,” states that the value of the global market is anticipated to rise from US$1.6 bn in 2014 to US$3.4 bn in 2023. If these values hold true, the magnesium oxide nanopowder market is likely to expand at an 8.30% CAGR from 2015 to 2023. The magnesium oxide nanopowder market is driven by the growing demand for refractory materials, the increasing demand for fuel additives, and the rising demand for flame-retardant materials. On the flip side, the use of magnesium oxide nanopowder is rather harmful to the environment, which poses a major challenge for the overall market. In addition, the high cost of magnesium oxide nanopo...