U.S. Magnesium Oxide Board Market Size, Share & COVID-19 Impact Analysis, By Type (Thin (<8 mm), Medium (8-15 mm), and Thick (>15 mm)), By Application (Residential Building, Commercial Building, and Industrial Building), and Country Forecast, 2023-2030

The U.S. magnesium oxide board market size was worth USD 235.5 million in 2022 and is projected to grow at a CAGR of 5.5% during the forecast period.

Magnesium Oxide (MgO) board is an increasingly used material for construction due to its high fire resistance, durability, and adaptability. This board is widely utilized in the construction sector for both interior and exterior purposes. Due to its resilience to fire, mold, and moisture, this board is frequently used as an alternative to traditional plasterboard and gypsum board. Magnesium oxide boards are popular in modern construction due to their durability, ease of installation, and applicability to a wide range of construction projects. Hence, the rising construction industry is expected to drive market growth during the forecast period.

The COVID-19 pandemic had a huge impact on the market due to delayed or canceled construction projects. However, the market witnessed increasing demand post-pandemic due to accelerated trends toward sustainable construction. 

U.S. Magnesium Oxide Board Market Trends

Preference Shift for Magnesium Oxide Boards over Traditional Materials in the U.S. to be the Latest Trend

Increased knowledge of magnesium oxide boards’ superior fire resistance, durability, and sustainability has resulted in a preference shift among builders, architects, and homeowners. As more people recognize the benefits of these boards over traditional building materials, there is an increasing demand for these boards in a variety of building applications.

The emphasis on green building practices and indoor air quality has increased interest in magnesium oxide boards, which are known for being environmentally friendly and mold & moisture-resistant. As environmental consciousness increases, MgO boards are considered a sustainable option, creating opportunities for their use in Leadership in Energy and Environmental Design (LEED) certified and other green building projects.

U.S. Magnesium Oxide Board Market Growth Factors

Increasing Sustainable Construction Fuels Market Growth in the U.S.

As sustainability becomes a top priority in the construction sector, builders and architects are actively pursuing environmentally friendly building materials, such as magnesium oxide boards, due to their environmentally friendly composition and durability. These boards are produced from naturally occurring minerals, such as magnesium oxide and wood fibers, making them a green alternative to typical building materials, such as gypsum board or plasterboard.

Magnesium oxide (MgO) boards' durability and fire resistance increase their attractiveness in sustainable construction projects, providing long-term cost savings and a lower environmental footprint. This environmentally conscious change in the sector is driving the U.S. magnesium oxide board market growth, particularly from projects aiming for green building certifications, such as LEED.

RESTRAINING FACTORS

Lack of Product Awareness and Availability of Substitutes to Hinder Market Growth

The broad adoption of magnesium oxide boards is hampered by a lack of understanding among construction professionals, consumers, and contractors. Many potential users may be unaware of the benefits of these boards in terms of fire resistance, durability, and sustainability. This leads to a preference for more conventional construction materials, such as plasterboard and cement boards.

The restricted supply of magnesium oxide boards in some places can be a logistical and financial challenge. The distribution networks of these boards may be less extensive than those of traditional alternatives, resulting in higher shipping costs and probable delays. This lack of availability of boards may deter potential users from viewing them as viable alternatives and restrict the market.

U.S. Magnesium Oxide Board Market Segmentation Analysis

By Type Analysis

Based on type, the market is segmented into medium (8-15 mm), thin (<8 mm), and thick (>15 mm).

The thin (<8 mm) segment held the largest U.S. magnesium oxide board market share in 2022, owing to its rising demand from the construction industry and rising industrialization in the country. These boards are being widely used in ceiling linings, walls, and fascia applications.

The medium (8-15 mm) segment accounted for a notable share of the market in 2022. The increasing adoption of medium-sized magnesium oxide boards in doors, wooden panels of kitchens, and furniture is expected to bolster the segment's growth in the coming years.

By Application Analysis

By application, the market is segmented into residential building, commercial building, and industrial building.           

The residential building segment held a larger share in 2022 owing to increasing demand for green buildings and making homes fire-resistant, which are boosting product adoption in the residential sector. Increasing home & infrastructure remodeling activities such as partitions, ceilings, and subfloor in residential projects is expected to drive product adoption in the residential building segment.

The industrial segment is the fastest-growing segment due to rapid industrialization in the U.S. To curb accidental fires and contribute toward sustainability, many industrial end-users are employing magnesium oxide boards as they are stronger, fireproof, and environmentally friendly alternatives.

List of Key Companies in U.S. Magnesium Oxide Board Market

Key players include Magnum Board Products, LLC, Ambient Bamboo Products Inc., North American MgO LLC, and Foreverboard California, Inc., among others. Several industry players offer distinctive products. For instance, Magnum Board Products, LLC, provides unique magnum board products that are engineered to protect against water, fire, mold, toxins, and insects, catering to the demands of builders, engineers, architects, and consumers.

LIST OF KEY COMPANIES PROFILED:

• Magnum Board Products, LLC (U.S.)


• Ambient Bamboo Products Inc. (U.S.)


• North American MgO LLC (U.S.)


• Foreverboard California, Inc. (U.S.)


• Ambient Building Products Inc. (U.S.)


• Huber Engineered Woods LLC (U.S.)


• DragonBoard USA (U.S.)


• James Hardie Building Products Inc. (Ireland)

REPORT COVERAGE

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The market report thoroughly examines key factors such as competitive landscape, applications, and product types. It also provides market trends and drivers and highlights significant technological advancements. The study includes different variables that have contributed to the market's growth in recent years and the factors listed above. It examines the industry's newest market dynamics and opportunities, as well as historical data and revenue growth estimates at the country level.

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