Magnesium Alloys Market Share 2022 Growth Challenges, Opportunities and Future Trends 2028

The global magnesium alloys market is anticipated to grow at a considerable CAGR of 12.6% during the forecast period. The demand for heat resistance films is increasing to produce automotive components. Alloying magnesium improves its heat resistance, creep resistance, and lastingness. As a result, various companies are involved in the production of sustainable packaging solutions that are made of heat resistance films. For instance, in June 2021, Amcor's Flexibles announced the installation of a seven-layer blown film line in which Amcor's new machine will produce its recently launched proprietary AmPrima PE Plus ultra-clear and heat resistance films. These films enable customers to shift to recycle-ready solutions without any compromise on the performance, the appearance of the product, or its manufacturing

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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in August 2021, Amcor announced the launch of a proprietary healthcare lidding technology that will be utilized for combination products that consist of two or more regulated components. This latest innovation from Amcor is based on patented inert film development and laminate design. It provides a lidding solution that can withstand heat sterilization, the process of preserving and sterilizing items while preventing drug uptake into the packaging. The packaging solution is a unique combination of healthcare products including devices with an Active Pharmaceutical Ingredient (API) that forms the basis of medicine. It ensures integrity after sterilization, machinability along with the convenient peel opening for patients.

Market Coverage

· The market number available for - 2021-2028

· Base year- 2021

· Forecast period- 2022-2028

Segment Covered-

· By Type

· By End-user

Regions Covered

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape- Magnesium Elektron, Ka Shui International Holdings Ltd, Magontec, US Magnesium LLC, Nanjing Yunhai Special Metals Co. Ltd., and Meridian Lightweight Technologies.

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Global Magnesium Alloys Market Report by Segment

By Type

• Cast alloys

• Wrought Alloys

By End User

• Aerospace

• Automotive

• Medical

• Electronics

• Sports

• Others (Power Tools)

Global Magnesium Alloys Market Report by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

· Latin America

· Middle East & Africa

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