A new study "Global Magnesium Fireproof Board Market by Manufacturers, Regions, Type and Application forecast to 2021 [says growing demand for commercial and residential buildings have driven the growth of global Magnesium Fireproof Board market. Market is expected to grow at a CAGR of 18.4%.
The global Magnesium Oxide Board market, according to QYResearch, was valued at USD $947.06 million in 2016 and expected to reach USD $987.94 million by 2021. The Asia-Pacific region is the largest consumer, representing 43% of total consumption in 2016 followed by North America at 18.66%.
Using MgO Board result in lower construction costs as well as maintenance costs and display superior performance compared to traditional wood, gypsum and cement-based products. Exterior and interior wallboards made with magnesium oxide are not only strong, they also known to be fire-resistant, mold proof, non-toxic, insulating and hold up well in water.
Mgo 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 theatres, train and bus partitioning,boat partitioning, shopping centers and any area where the fireproof function is necessary.