The Global Magnesium Firefroof Board Market is expected to reach USD987.94 Million by 2021
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.