Magnesium Metal Market (2021 to 2027) – Growth, Trends, and Forecasts

Magnesium Metal Market was valued at US$ 4.1 Bn. in 2021. The Global Magnesium Metal Market size is estimated to grow at a CAGR of 5.5 % over the forecast period.

Magnesium Metal Market Overview:

The Global Magnesium Metal Market report gives a comprehensive assessment of the market for the estimate time frame. The report involves different sections along with an investigation of the patterns and factors that are assuming a significant part on the lookout. The market elements include the drivers, restraints, opportunities, and difficulties through which the effect of these variables in the market is illustrated. The drivers and restraints are inborn variables though valuable opportunities and difficulties are inessential elements of the market. The Global Magnesium Metal Market report by MMR gives a point of view towards the advancement of the market regarding income all through the forecast period. Magnesium Metal Market To know about the Research Methodology:- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2027. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.

Magnesium Metal Market Dynamics:

The northward direction development is on the rear of expanded utilization of magnesium metal in various areas because of various properties it holds. A portion of the critical successes of magnesium metal incorporates nontoxicity and great biocompatibility. Subsequently, these items are broadly used in the medical care and clinical area across the globe. Magnesium metal is likewise known for its high-level mechanical and electrical properties including better hotness move and sturdiness. Subsequently, the organizations working in the assembling of hardware items are developing the utilization of magnesium metal. This variable is probably going to create prominent sales opportunities for players working in the magnesium metal market during the forecast period. Developing aircraft utilization of magnesium metal is expected to impel the market development over the forecast period. In the avionic business it is utilized to make lightweight parts because of the rising requirement for eco-friendly aircraft and to decrease the general load of aircraft. Magnesium is the lightest metal and is appropriately steadier which makes it ideal for making lightweight and strong aircraft part like a lodge and other inside parts. Subsequently, rising interest in the aircraft business is expected to increase the market growth of magnesium metal. Expanding creation of titanium all over the planet is supposed to speed up the market development of magnesium metal. Development of the titanium market because of rising application from aviation, synthetic compounds, and clinical and medical services businesses is projected to speed up the market development of magnesium metal. Subsequently, the developing creation of titanium to take care of the rising need from the previously mentioned application will lean toward the market development. Growing production of aluminum all over the planet because of rising interest from the different end-use applications is supposed to increase the market development. Aluminum has a wide scope of utilization because of its lightweight and inductility properties that make it ideal for the automotive, packaging, and aerospace industry. Along these lines, the developing interest for aluminum all over the globe will positively impact the market growth Magnesium metal is exceptionally reasonable for welding and is artificially responsive as would be considered normal to confine the adoption of magnesium metal. Also, it isn't reasonable for heat applications and it gets shrivels at very cool temperatures. This large number of inconveniences are supposed to limit the adoption of magnesium metal which thus expected to upset the market growth over the forecast period. Utilization of magnesium metal and its combinations for specific applications, for example, auto and aviation are expected to follow a few administrative bodies which is supposed to obstruct the market development of magnesium metal. Because of severe guidelines and guidelines, major players are restricting the adoption of magnesium metal which is expected to hinder the market growth.

Magnesium Metal Market Trends:

The increasing focus of manufacturers to introduce innovative magnesium metal products is a major trend that has been observed in the market. For example, in October 2018, Allite sent off super magnesium, is the first material to go-to-advertise from Ohio-based organization Allite Inc. Lighter and stiffer than aluminum, more affordable than carbon fiber, and with the most minimal carbon impression of any primary material all through the worth chain. This metal can be utilized across traversing clinical, outdoor supplies, aviation, automotive, and beyond.

Magnesium Metal Market Segment Analysis:

Based on End-User Industry, the Magnesium Metal Market is segmented into Aerospace & Defense, Automotive, Medical and healthcare, and Electronics. Aerospace & Defense segment is expected to grow at a CAGR of 5.9% through the forecast period. Magnesium compound advancements have customarily been driven by aerospace industry prerequisites for lightweight materials to work under progressively requesting conditions. Magnesium combinations have forever been alluring to designers because of their low density, just 66% that of aluminium. This has been a main consideration in the far and wide utilization of magnesium combination castings and wrought products. Magnesium Metal Market 1 Based on Application, the market is divided into aluminium alloying, bite the dust projecting, desulfurization and others. The aluminium alloying segment held the prevailing market share accounting for 38% in 2021. The predominance of the segment is credited to the capacity of Mg to expand the strength of the alloy when added to it and solidifying it. These combinations are significantly utilized in assembling of beverages cans. Different purposes incorporate pressure vessels, structures, and substance big haulers are expanding interests in the Food and beverage industry is supporting the segment growth. The die casting segment is expected to observe a significant growth rate through the forecast period due to the high demand from the automotive and aerospace industries. Rising interests in the automotive enterprises are set to offer quick learning experiences for the Mg market. The metal is utilized for expulsion of sulphur content from iron and steel. High investments by governments of emerging economies to improve the infrastructure will drive the growth of desulfurization segment

Magnesium Metal Market Regional Insights:

The Asia Pacific region held the largest market share accounting for 48% in 2021. This development is attributed to expanded interest for magnesium metal from different end-use enterprises including auto and gadgets. Aside from this, the Asia Pacific magnesium metal market is anticipated to accumulate promising sum in incomes on the rear of expanded industrialization and improved disposable income of major population living in this region. The China region is expected to witness significant growth at a CAGR of 6.1 % through the forecast period. China is expected to witnesses significant growth through the forecast period due to the rapid development, rising government initiatives, and increasing number of manufacturing companies. The objective of the report is to present a comprehensive analysis of the global Magnesium Metal Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Magnesium Metal Market dynamic, and structure by analyzing the market segments and projecting the Magnesium Metal Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Magnesium Metal Market make the report investor’s guide.

Magnesium Metal Market Scope: Inquire before buying

Global Magnesium Metal Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 4.1 Bn.
Forecast Period 2022 to 2027 CAGR: 5.5% Market Size in 2027: US $ 5.9 Bn.
Segments Covered: by End user • Aerospace & Defense • Automotive • Medical & healthcare • Electronics
by Application • Die Casting • Aluminum Alloy • Iron & steel desulfurization • Others
by Product • Pure Magnesium • Magnesium Compound • Magnesium Alloy

Magnesium Metal Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Magnesium Metal Market Key Players:

• US Magnesium LLC. • Dead Sea Magnesium Ltd., • POSCO, • RIMA Group • Solikamsk Magnesium Works OAO • Wenxi YinGuang Magnesium Industry Co., Ltd., • Shanxi Wenxi Hongfu Magnesium Co., Ltd., • Shanxi Wenxi Zhenxin Magnesium Co., Ltd., • Taiyuan Tongxiang Magnesium Co., Ltd. • Alliance Magnesium Inc • Regal Magesuim Co. ltd. • Magontec Ltd • NIPPON KINZOKU Co. Ltd • Amacor

Frequently Asked Questions:

1] What segments are covered in the Magnesium Metal Market report? Ans. The segments covered in the Magnesium Metal Market report are based on Application, End user and Product type 2] Which region is expected to hold the highest share in the Magnesium Metal Market? Ans. The Asia Pacific region is expected to hold the highest share in the Magnesium Metal Market 3] What is the market size of the Magnesium Metal Market by 2027? Ans. The market size of the Magnesium Metal Market by 2027 is expected to reach US$ 5.9 Bn. 4] What is the forecast period for the Magnesium Metal Market t? Ans. The forecast period for the Magnesium Metal Market is 2022-2027. 5] What was the market size of the Magnesium Metal Market in 2021? Ans. The market size of the Magnesium Metal Market in 2021 was valued at US$ 4.1 Bn.
1. Global Magnesium Metal Market Size: Research Methodology 2. Global Magnesium Metal Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Magnesium Metal Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Magnesium Metal Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Magnesium Metal Market Size Segmentation 4.1. Global Magnesium Metal Market Size, by End user(2021-2027) • Aerospace & Defense • Automotive • Medical & healthcare • Electronics 4.2. Global Magnesium Metal Market Size, by Application (2021-2027) • Die Casting • Aluminum Alloy • Iron & steel desulfurization • Others 4.3. Global Magnesium Metal Market Size, by Product (2021-2027) • Pure Magnesium • Magnesium Compound • Magnesium Alloy 5. North America Magnesium Metal Market (2021-2027) 5.1. North America Magnesium Metal Market Size, by End user(2021-2027) • Aerospace & Defense • Automotive • Medical & healthcare • Electronics 5.2. North America Magnesium Metal Market Size, by Application (2021-2027) • Die Casting • Aluminum Alloy • Iron & steel desulfurization • Others 5.3. North America Magnesium Metal Market Size, by Product (2021-2027) • Pure Magnesium • Magnesium Compound • Magnesium Alloy 5.4. North America Magnesium Metal Market, by Country (2021-2027) • United States • Canada • Mexico 6. European Magnesium Metal Market (2021-2027) 6.1. European Magnesium Metal Market, by End user(2021-2027) 6.2. European Magnesium Metal Market, by Application (2021-2027) 6.3. European Magnesium Metal Market, by Product (2021-2027) 6.4. European Magnesium Metal Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Magnesium Metal Market (2021-2027) 7.1. Asia Pacific Magnesium Metal Market, by End user(2021-2027) 7.2. Asia Pacific Magnesium Metal Market, by Application (2021-2027) 7.3. Asia Pacific Magnesium Metal Market, by Product (2021-2027) 7.4. Asia Pacific Magnesium Metal Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Magnesium Metal Market (2021-2027) 8.1. Middle East and Africa Magnesium Metal Market, by End user(2021-2027) 8.2. Middle East and Africa Magnesium Metal Market, by Application (2021-2027) 8.3. Middle East and Africa Magnesium Metal Market, by Product (2021-2027) 8.4. Middle East and Africa Magnesium Metal Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Magnesium Metal Market (2021-2027) 9.1. South America Magnesium Metal Market, by End user(2021-2027) 9.2. South America Magnesium Metal Market, by Application (2021-2027) 9.3. South America Magnesium Metal Market, by Product (2021-2027) 9.4. South America Magnesium Metal Market, by Country (2021-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. US Magnesium LLC. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Dead Sea Magnesium Ltd., 10.3. POSCO, 10.4. RIMA Group 10.5. Solikamsk Magnesium Works OAO 10.6. Wenxi YinGuang Magnesium Industry Co., Ltd., 10.7. Shanxi Wenxi Hongfu Magnesium Co., Ltd., 10.8. Shanxi Wenxi Zhenxin Magnesium Co., Ltd., 10.9. Taiyuan Tongxiang Magnesium Co., Ltd. 10.10. Alliance Magnesium Inc 10.11. Regal Magesuim Co. ltd. 10.12. Magontec Ltd 10.13. NIPPON KINZOKU Co. Ltd 10.14. Amacor

About This Report

Report ID 65286
Category Material & Chemical
Published Date June 2020
Updated Date May 2022
Contact Us