QYResearch: The global Magnesium Fireproof Board market is expected to reach USD 1270.05 million by 2021
Magnesium Fireproof Board is a fire proof and a thermal insulation building material. It can be used for a number of applications including wall and ceiling linings, exterior cladding, fascia’s, soffits, tile backing and flooring underlay.
MgO Board is non-combustible and can achieve fire ratings as high as 4 hours given the correct installation. It can be used for sound studios, schools, public areas, movie theatre’s, train and bus partitioning, boat partitioning, shopping centers and any area where the fireproof function is necessary.
According to QYResearch, The global Magnesium Fireproof Board production market was 147.7 million square meters in 2016 and is expected to grow at a CAGR of 7.44% from 2012 to 2016. The global Magnesium Fireproof Board market was valued at USD 947.06 million in 2016 and is expected to reach USD 1270.05 million by 2021. Overall, the Magnesium Fireproof Board products performance is positive with the global economic recovery.
The technical barriers of Magnesium Fireproof Board are relatively high, and the major countries are Asia-Pacific. Asia-Pacific is the largest consumer, almost 43.07% of total consumption in 2016, followed by North America with 18.66% of consumption share.
Magnesium Fireproof Board has a wide range of applications. Magnesium Fireproof Board is used in Interior Decoration, Exterior Decoration. Therefore, growing demand for commercial and residential buildings has driven the growth of global Magnesium Fireproof Board market. The demand for Magnesium Fireproof Board is expected to continue increasing during the remaining years of the forecast period of 2016-2022. Magnesium Fireproof Board industry will be used in a stable growth space.
In the past few years, the price of Magnesium Fireproof Board has a little change and we expect the price will slightly lower. However, the improvement of energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of Magnesium Fireproof Board.
As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality. With the snatch for market share in emerging regions, the competition in Magnesium Fireproof Board industry will become more intense.
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