Press release
Magnesium Market Size, Share, Emerging Trends, Demand, Revenue and Forecasts Research 2027
COVID-19 Pandemic: High Demand from Beverage Can Manufacturers to Boost Growth
The COVID-19 pandemic has caused an abrupt halt in supply chains, production facilities, and raw material mining across the globe. Hence, a wide range of industries are struggling to keep up with regular revenues to sustain in the market. But, the demand for magnesium is set to surge owing to itsincreasing application in the beverage can manufacturing industry. Our detailed research reports will provide the best insights into the market for battling the pandemic.
How Did We Create This Report For You?
We follow an innovative research methodology that includesdata triangulation on the basis of bottom-up and top-down approaches. We conduct extensive primary research to validate the projected market numbers. The data used to estimate the forecast for various segments at the country, regional, and global levels is collected through interviews with various leading stakeholders. We also derive information from paid databases, industry journals, SEC filings, and other authentic resources. The report includes several details, such as drivers, opportunities, challenges, and dynamics of the market.
Request A Sample PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/magnesium-market-104713
A list of all the renowned magnesium manufacturers operating in the global market:
• NIPPON KINZOKU CO., LTD. (Japan)
• Latrobe Magnesium (Australia)
• Alliance Magnesium Inc. (Canada)
• US Magnesium LLC (U.S.)
• Regal Magnesium Co. Ltd. (China)
• Dead Sea Magnesium Ltd. (UK)
• RIMA Group (Italy)
• WenxiYinGuang Magnesium Industry (Group) Co., Ltd. (China)
• Magontec Ltd (Australia)
• MagOne Products (Canada)
• WHY Resources (Canada)
• Other Players
Drivers & Restraints-
Increasing Usage in Automotive Components to Accelerate Growth
Being one of the lightest metals with excellent strength, magnesium is capable of resisting high temperatures. It is used to manufacture automotive components by alloying with aluminium. The U.S. Automotive Material Partnershipdeclared that90 lbs of Mg can replace 150 lbs of aluminum, while 250 lbsof the same can replace 500 lbs of steel. It can reduce around 15% of the weight of vehicles. These factors are expected to propel the magnesium market growth in the near future. However, the metal has low corrosion resistance, which, in turn, may hamper growth.
Segment-
DesulfurizationSegment to Grow Steadily Fueled by Rising Government Investments
Based on the application, the desulfurization segment earned 13.2% in terms of the magnesium market share in 2019. This growth is attributable to the increasing investments by government agencies, especially in developing nations to enhance their pre-existing infrastructures.
Regional Insights-
Asia Pacific to Dominate Stoked by Surging Production of Vehicles in China
Geographically, Asia Pacific held USD 1,394.3 million in 2019 in terms of revenue. It is set to remain at the forefront because of the presence of major consuming and producing countries in the region. Besides, the rising production of automotive in China and India would aid growth.
North America, on the other hand, is expected to grow significantly on account of the rising usage of the metal in place of aluminium and steel in automobile bodies. In Europe, countries, such as the U.K., France, and Germany would contribute to growth backed by the urgent need to lower carbon emissions and lower vehicle weight.
Competitive Landscape-
Key Players Focus on Collaboration &New Plant Development to Intensify Competition
The global market for Mgis highly fragmented. Several reputed companies are investing huge sums in research and development activities to introduce novel products. Some of the others are aiming to co-develop new products by collaborating with local firms. Below are the two latest industry developments:
September 2020:Alliance Magnesium Inc. (AMI) collaborated with the Carrefour d'innovation sur les matériaux de la MRC des Sources (CIMMS). It will aid AMI to benefit from the latter's 50% technical staff, equipment, and facilities. At the same time, it will be able to gain access to its laboratory.
August 2020:Latrobe Magnesium Limited (LMG) will soon build its new magnesium plant in Victoria's Latrobe Valley. It is currently investigating the usage of a hydromet process blended with the thermal reduction process.
Inquire before buying :
https://www.fortunebusinessinsights.com/enquiry/queries/magnesium-market-104713
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner -
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn Facebook Twitter
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Magnesium Market Size, Share, Emerging Trends, Demand, Revenue and Forecasts Research 2027 here
News-ID: 2562607 • Views: …
More Releases from Fortune Business Insights™
World Environment Day 2023: How Saving Water Can Help Us Save The Environment
Wastewater comes from homes, businesses, industrial sites and farms, as well as any stormwater or groundwater that enters the sewer system.
Specialised treatment plants process this wastewater. A combination of technologies is used to achieve the treatment objectives, based on the character of raw wastewater and use of the treated wastewater. These processes include primary, secondary and tertiary treatment. Our research, published today, found wastewater treatment removes a lot of particles,…
Cosmetics Market Research Analysis by Top Key Players, Types, New Trends and For …
The global cosmetics industry was valued at USD 277.67 billion in 2020 and is projected to grow from USD 287.94 billion in 2021 to USD 415.29 billion in 2028, exhibiting a CAGR of 5% during the 2021-2028 period.
In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care,…
Aquafeed Market Trends, Growth, Share, Size and Forecast Research Report 2028
The global aquafeed market size is anticipated to reach USD 85.17 billion by 2028 and exhibit a CAGR of 5.59% during the forecast period. The increasing popularity of aquafeed and the rising investments in the research and developments activities are projected to foster growth for the market. The market's growth is also ascribable to the increasing seafood trade due to the soaring seafood consumption and consumer expenditure on fish and…
Cricket Equipment Market Demand, Recent Trends, Size and Share Estimation by 202 …
The global cricket equipment market size was valued at USD 564.43 million in 2021 and USD 594.46 million in 2022. The market is expected to reach USD 897.02 million by 2029 with a CAGR of 6.05% during the forecast period. Growing demand for cricket bats and equipment from various institutions schools, colleges, cricket clubs, and fitness centers is anticipated to drive market growth. Increasing demand for customized sports products and cricket accessories…
More Releases for Magnesium
Magnesium and Magnesium Alloy Market Growth, Opportunity, Business Trend, and Fu …
The Magnesium and Magnesium Alloy Market research report added by MarketInsightsReports is an in-depth analysis of the latest trends, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market introduction, Magnesium and Magnesium Alloy market definition, regional market scope, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect elements analysis, Magnesium and Magnesium Alloy…
Magnesium and Magnesium Alloy Market Trend Expected to Guide by 2025: Focusing T …
Magnesium and Magnesium Alloy Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending…
Magnesium Metal Market - Global Industry Analysis, Size and Forecast 2022 by Wen …
Segmental Analysis
The segmentation of the Magnesium Metal Market globally is carried out on the basis of application and region. The application based segment of the market consists of desulphurization, die casting, aluminum alloy, metal reduction and others. The regions included in the market are APAC, North America, Europe and Rest of the World.
Receive a Sample Report @ https://www.marketresearchfuture.com/sample_request/1977
Detailed Regional Analysis
The regions included in the regional…
Metal Magnesium Market Size, Share, Growth, Revenue, Top Market Leaders - US Mag …
QYResearch is a leading market research publisher which pursuits high product quality with the belief that quality is the soul of business and consulting group has accumulated creative design methods on many high-quality markets investigation and research team with rich experience.
Report Description
Magnesium is the third most widely used structural material, after iron and aluminum. The main uses of magnesium are: making aluminum alloy, die-casting, desulfurization in steel production, and…
Magnesium Market Analysis by Top Companies: ICL, Ningxia Hui-Ye Magnesium Market …
In the recently published report, QY Research has provided a unique insight into the global Magnesium market for the forecasted period of 7-years (2018-2025). The report has covered the significant aspects that are contributing to the growth of the global Magnesium market. The primary objective of this report is to highlight the various key market dynamics such as drivers, trends, and restraints that are impacting the global Magnesium market. This…
Magnesium Metal Market Global Industry Analysis and Opportunity Assessment by To …
Segmental Analysis
The segmentation of the Magnesium Metal Market globally is carried out on the basis of application and region. The application based segment of the market consists of desulphurization, die casting, aluminum alloy, metal reduction and others. The regions included in the market are APAC, North America, Europe and Rest of the World.
Receive a Sample Report @ https://www.marketresearchfuture.com/sample_request/1977
Detailed Regional Analysis
The regions included in the regional…
