Magnesium oxide type building boards are a relatively new alternative to traditional sheeting materials such as plywood, gypsum plasterboard, and fiber-cement board. They provide exceptional resistance to weathering, are fire-proof, are excellent at insulating sound, and have a range of other benefits as well. MGO boards are incredibly resilient to a number of forces, making them a durable building material. They will give ceilings more longevity and require very little maintenance, meaning that they will cost less in the long run. The Asia Pacific accounts large market share, owing to the growth in the residential sector in countries such as China and India.This growth is primarily driven by Growing Demand for Residential and Commercial Buildings in the Developing Economies of APAC such as India and China and Excellent Fire & Acoustical Properties, Environment-Friendly, Offers Excellent Dimensional Stability under Heat and In Severe Moisture Environments.
Globally, a noticeable market trend is evident Structural Insulated Panels (SIPS) and Exterior Insulated Finish Systems (EIFS). Major Vendors, such as Wedge India (India), Universal Building Products Pvt Ltd. (India), RPV Industries (India), EARCONS (India), North American MgO LLC (United States), Magnum Building Products (United States), SINH Building Solutions B.V. (Netherlands), Supertec Ceilings & Board (Pty) Ltd. (South Africa), Magmatrix Science & Technology (Group) Co., Ltd. (China) and Zhangjiagang Leader New Construction Material Co. Ltd. (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On March 30, 2020, Innovative building products manufacturer Huber Engineered Woods LLC, a subsidiary of J.M. Huber Corporation, has acquired certain assets from Extreme Green Building Products, LLC, known for its range of non-combustible, magnesium oxide products.
MgO Board is a newly developed and upcoming green material for DRY Construction. This material is approved for use in the USA, PRC, Canada, and many other countries for various applications. The MgO board manufacturing quality should meet the ISO - 1182 International Fireproof Material Quality Standards.
- Growing Demand for Residential and Commercial Buildings in the Developing Economies of APAC such as India and China
- Excellent Fire & Acoustical Properties, Environment-Friendly, Offers Excellent Dimensional Stability under Heat and In Severe Moisture Environments
- Structural Insulated Panels (SIPS) and Exterior Insulated Finish Systems (EIFS)
- High Cost of the MgO Boards than Gypsum Boards
- Fluctuation in Raw Material Prices such as Magnesium Oxide, Fibres, and Others
Growing Infrastructure and Construction Activities in Developing Economy and Rise in Per Capita Income in Economies such as India
Availability of Several Cheaper Substitutes Such As Plywood, Gypsum Plasterboard, Fibre-Cement and Other Sheeting Materials and Extended Water Exposure Leads To Hydrothermal Expansion
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