Magnesium Oxide Nanoparticle Market Demand Expected To Reach 185.5 tons By 2020: Grand View Research, Inc.

Global magnesium oxide nanoparticle market is expected to reach USD 42.3 million by 2020, according to a new study by Grand View Research, Inc. Magnesium oxide nanoparticles are used as fuel additives to enhance fuel efficiency and maintain engine health and performance. Increasing demand from fuel industry owing to increasing consumer awareness regarding high performance fuels in order to prolong vehicle operating life is expected to drive market demand over the forecast period.

Furnace lining was the largest application market for magnesium oxide nanoparticles with demand estimated at over 60 tons in 2013, owing to favorable properties including large surface area, high purity and hardness. Nanoparticles are also used in the construction and ceramic industry due to insulating and anti-bacterial properties, with estimated market revenue of over USD 4.0 million in 2013, growing at a CAGR of 9.1% from 2014 to 2020.

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