QYR Market Research Global Magnesium Oxide Market Research | Page 3

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• Large mineral deposits of magnesite are located in China, North Korea, and
Russia. China is the largest producer of magnesium oxide from natural
magnesite, accounting for about 64% of the magnesium oxide produced in 2016.
China’s abundant magnesite deposits result in most of its domestic producers
manufacturing magnesium chemicals from this natural ore.
• In 2017, the global magnesium oxide market is led by China. Europe is the
second-largest region-wise market. The global magnesium oxide market is
valued at USD 4,168 million in 2017 and is expected to reach USD 6,543 million
by the end of 2024, growing at a CAGR of 6.65% between 2017 and 2024.
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