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  Magnesium Oxide Market Application The magnesium oxide market share is likely to attain a global CAGR of 5.34% during the ongoing forecast period of 2021–2028. Magnesium is also known as magnesia and is a hygroscopic mixture that is made through magnetite ores. By the end of the forecast period in 2028, the market is likely to attain a global market value that accounts for USD 5,376.5 million. The magnesium oxide market derives much of its growth from persistent demand from the steel, glass & ceramics industries. Owing to its property of remaining physically and chemically stable at high temperatures, high thermal conductivity, and low electrical conductivity, magnesium oxide is largely used as refractory material in the industries above which forms a large chunk of the revenue of the global Magnesium Oxide Market . Rebound in the steel industry is expected to provide long-term growth opportunities to the global magnesium oxide market. Magnesium oxide finds supreme importance as