Magnesium boride (MgB₂) is an inorganic compound with a hexagonal crystal structure, known for its unique combination of properties. It is primarily recognized as a type-II superconductor with a relatively high critical temperature (Tc ≈ 39 K), which has spurred significant research interest in superconducting wires, magnets, and electronic applications. Beyond superconductivity, MgB₂ has gained attention in the field of energy storage. It is investigated as a promising anode material for lithium-ion batteries due to its high theoretical capacity (up to 1920 mAh/g based on a conversion reaction mechanism involving magnesium and boron). Research also explores its potential as a hydrogen storage material and as a precursor for synthesizing boron-based nanomaterials and catalysts. Its reactivity with water to generate hydrogen gas is a key property studied for on-demand hydrogen generation systems. Handling requires caution as it is a flammable solid and reacts with water and acids. Its applications are predominantly in advanced materials research, spanning superconductivity, next-generation batteries, and catalytic processes.