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Magnesium Alloys Market to reach USD 3.96 Bn by 2029, Technological Advancements and Growth Opportunities
Magnesium Alloys Market
Magnesium Alloys Market Report Scope and Research Methodology
Magnesium alloys are a mixture of magnesium and other metals like aluminium, zinc, silicon, and copper. They have low density, good mechanical properties, and excellent castability and processability, making them ideal for manufacturers of all types of vehicles for the road, rail, aviation, and space. The high strength-to-weight ratios, exceptional machinability, and low cost of magnesium alloys have led to their high demand. Additionally, they are used in the orthopedic medical industry, primarily because of their attractive properties as bone implant materials.
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The demand for magnesium alloys from the electronics, aerospace & defense, medical, and power tools industries, production activities of engineering components for weight reduction purposes, and the use of magnesium alloys in the automotive industry are driving factors behind the market growth.
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Magnesium Alloys Market Dynamics
In the automotive market, alloys used are AZ, AM, AE, and AS series, which are high pressure die cast to take benefits of magnesium's excellent die castability. Magnesium alloys are used to support brackets for brakes and clutch, housing for transmission, and in pistons, oil pumps, mounts, brackets, and housings. The demand for electrical vehicles is expected to drive the demand for magnesium alloys in the near future.Based on the Application, the magnesium alloys market is segmented into automotive & transportation, electronics, aerospace & defense, power tools, and others. The Automotive & Transportation segment is expected to contribute more than 35 percent share in the global market by 2029.
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Magnesium Alloys Market Regional Insights
The report also reveals that China produces some 90 percent of global primary magnesium. As the global magnesium alloys market is expected to grow at a rate of 12.25 percent, the production curbs in China have been reflected in climbing prices of magnesium. Europe imports more than 40 percent of all magnesium produced in China, which is creating a risk of a bottleneck that threatens massive production.
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Magnesium Alloys Market Segmentation
By Technology:
• Cast Alloy
• Wrought Alloy
By Application:
• Automotive & Transportation
• Electronics
• Aerospace & Defense
• Power Tools
• Others
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Magnesium Alloys Market Key Competitors include:
• Magnesium Elektron
• Ka Shui International Holdings Ltd.
• Magontec
• U.S. Magnesium LLC
• Nanjing Yunhai Special Metals Co. Ltd.
• Meridian Lightweight Technologies
• Advanced Magnesium Alloys Corporation (AMACOR)
• Shanghai Regal Magnesium Limited Company
• Shanxi Yinguang Huasheng Magnesium Co. Ltd.
• Shanxi Credit Magnesium Co. Ltd.
• Dynacast
• Shanxi Fugu Tianyu Mineral Industry
• Posco
• China Magnesium Corporation Limited
• Dead Sea Magnesium
• Spartan Light Metal Products
• Smiths Advanced Metals
• Rima Group
• Yee Dongguan Science and Technology Co. Ltd.
• Taiyuan Tongxiang Magnesium Co. Ltd.
Table of Content for Magnesium Alloys Market:
Global Magnesium Alloys Market: Research Methodology
Global Magnesium Alloys Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Magnesium Alloys Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Magnesium Alloys Market Segmentation
Global Market, by Technology (2021-2029)
Global Market, by Application (2021-2029)
Regional Magnesium Alloys Market (2021-2029)
Regional Market, by Technology (2021-2029)
Regional Market, by Application (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Types:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Technology and Application
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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