Evs And The Construction Industry Will Drive The Growth of Metal Magnesium Over The Forecast 2032

The metal magnesium market revenue was estimated to be US$ 4.35 Bn in 2021 and is expected to grow at a CAGR of 5.2% from 2022-2032. The market is estimated to reach US$ 7.6 Bn by the end of 2032.

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The packaging sector has a lot of potential to help this market grow.
The packaging sector is predicted to grow rapidly over the world over the forecast period. This will enhance demand in the metal magnesium industry as well.
According to ALL4PACK Emballage Paris, the worldwide packaging market accounted for $841 billion in 2017, up 2.7 percent from 2016 at constant prices. The global packaging market value reached US$ 866 billion in 2018, with a CAGR of 2.95 percent, and the market is expected to reach US$ 981 billion in 2022 and US$ 1,344 billion in 2032.

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Competitive Landscape
There are several regional and global players operating in this market. In order to sell their products through various industries, these companies compete based on product innovation, quality, brand reputation, and market presence. In order to stay competitive, companies are pursuing various acquisition and expansion strategies.
• In January, 2021, to expand its presence from North China to South China, Nanjing Yunhai Special Metals Co., Ltd. completed the acquisition of Tianjin Liuhe Magnesium, an auto and bicycles magnesium parts producer with a capacity of 8,000 tons/year.
• In 2018, Super magnesium, a metal from Ohio-based company Allite Inc. that can be used in a wide range of applications including medical, sporting goods, aerospace, automotive, and more, was released.
• In 2017, Meridian Lightweight Technologies, Plymouth, Mich., announced its partnership with Birmingham City University, England, which will demonstrate magnesium as a viable alternative for luxury car makers and the aerospace industry.

• Nippon Kinzoku Co. Ltd.
• VSMPO-Avisma Corporation
• Latrobe Magnesium
• Alliance Magnesium
• Shanghai Sunglow Investment (Group) Co. Ltd.
• Western Magnesium Corporation
• Regal Metal
• U.S Magnesium LLC
• Esan Eczacibasi
• Solikamsk Desulphurizer Works (SZD)

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