Global Magnesium Oxide Nanopowder Market Expected to Reach US$3.45 Billion by 2023

Transparency Market Research recently released a new market report on the magnesium oxide nanopowder market.
As quoted in the press release:

According to the report, the global magnesium oxide nanopowder market was valued at US$1.69 billion in 2014 and is anticipated to reach US$3.45 billion in 2023, expanding at a CAGR of 8.3% between 2015 and 2023.
Furnaces and boilers was the largest end-user segment of the magnesium oxide nanopowder market, accounting for more than 45% share in 2014. Due to high thermal stability, magnesium oxide nanopowder is extensively used in refractories for furnace linings due Research & development is being carried out to extend the usage of magnesium oxide nanopowder in orthopedic tissue engineering. This would increase the scope of application in the healthcare industry. Magnesium oxide nanopowder is used as dispersed phase in polymer composites, which is used post joint reconstruction surgeries for recovery of tissues. However, magnesium gets extremely hot and produce fumes when burned in open air. If inhaled, it can cause metal fume fever. Hence, it is necessary to take precautions during its manufacturing process and storage. Rise in health concerns and adverse impact on the environment are expected to hamper market growth.

Click here for the full press release.