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Magnesium Peroxide Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2018 - 2026 Magnesium peroxide (MgO2) is an off-white colored, odorless fine powder. Magnesium peroxide is similar to calcium peroxide, as it too releases oxygen by breaking down at controlled rate when in contact with water. Commercially, magnesium peroxide exists as a compound of magnesium hydroxide and magnesium peroxide. Commercial production of magnesium peroxide involves mixing of hydrogen peroxide with a light grade of magnesium oxide. The slurry of this mixture is then dried. The final product of the reaction is a white powder which contains around 25% magnesium peroxide and 7% active oxygen. The remaining components are magnesium hydroxide, magnesium carbonate, and magnesium oxide.