Press release
Metal Magnesium Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Metal Magnesium Market Analysis
The Business Research Company offers in-depth market insights through Metal Magnesium Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The metal magnesium market size has grown strongly in recent years. It will grow from $4.43 billion in 2023 to $4.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growing demand in the automotive industry for lightweight materials, expansion of the aerospace industry, adoption of magnesium alloys in electronics and consumer goods, increasing use of magnesium in medical implants and healthcare applications, initiatives by governments to encourage the use of magnesium metal .
The metal magnesium market size is expected to see strong growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rise in demand for magnesium in battery technologies, growth in the renewable energy sector, expansion of magnesium applications in 3d printing and additive manufacturing, increasing awareness and adoption of magnesium in the construction industry, research and development in magnesium-based materials for improved properties.. Major trends in the forecast period include development of high-strength and corrosion-resistant, integration of magnesium in the development of lightweight structural components, exploration of magnesium as a potential material for hydrogen storage, emphasis on sustainable and eco-friendly magnesium production, collaboration between industries for cross-application of magnesium.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=6801&type=smp
Market Segmentation:
The metal magnesium market covered in this report is segmented -
1) By Product: Pure Magnesium, Magnesium Compounds, Magnesium Alloys
2) By Manufacturing Process: Thermal Reduction Process, Electrolyte Process, Recycling
3) By Application: Die Casting, Aluminum Alloys, Titanium Reduction, Iron And Steel Making, Other Applications
4) By End-User Industry: Automotive, Aerospace, Electronics, Sports, Medical, Other End User
Major Driver - Automotive Lightweighting Drives Growth In The Metal Magnesium Market
The increased focus on automotive light-weighting is driving the growth of the metal magnesium market. The focus on lightweight automotive vehicles is increasing due to various reasons such as enhancing significant fuel efficiency, offering a smart look and appearance, and emission standards. The increased focus on automotive light-weighting will create a significant demand for metal magnesium due to its lightweight property. Magnesium helps to produce lightweight products and is increasingly used in automotive applications. Magnesium is employed in door frames, steering wheel armatures, panel cross-car beams, seat frames, fuel tank covers, and other components making them lighter to include in automotive vehicles. For instance, according to the Department of Energy of the USA, a 10% reduction in vehicle weight can result in a 6% to 8% improvement in fuel economy. Replacing cast iron and traditional steel components in vehicles with lightweight materials such as magnesium (Mg) alloys, high-strength steel, aluminum (Al) alloys, carbon fiber, and polymer composites can reduce the weight of a vehicle's body and chassis by up to 50%, lowering fuel consumption. By 2030, the use of lightweight components and high-efficiency engines enabled by advanced materials in 25% of the US fleet could save over 5 billion gallons of fuel. Therefore, the increasing automotive light-weighting will drive the growth of the market for metal magnesium.
Competitive Landscape:
Major companies operating in the metal magnesium market report are Alliance Magnesium Inc., Wenxi YinGuang Magnesium Industry Co. Ltd., Nippon Kinzoku Co. Ltd., POSCO India Pvt. Ltd., Taiyuan Tongxiang Magnesium Co. Ltd., US Magnesium LLC, Dead Sea Magnesium Ltd., Nanjing Yunhai Special Metals Co. Ltd., Solikamsk Magnesium Works OAO, IMA Industrial S/A, Regal Metal Products Co., Shanxi Bada Magnesium Co. Ltd., Southern Magnesium & Chemicals Limited, Western Magnesium Corporation, Fu Gu Yi De Magnesium Alloy Co. Ltd., American Magnesium LLC, Magnesium Alloy Products Co. Inc., Shanxi Shuifa Zhenxin Magnesium Industry Co. Ltd., Metallic Corporation of India, Jayesh Industries Ltd., Magontec Ltd., Titanium Corp., Esan Eczacibasi Holding A. S., Shanghai Sunglow Investment (Group) Co. Ltd., VSMPO-Avisma Corp., Latrobe Magnesium Ltd., Baoji Yuhang Nonferrous Metal Co. Ltd., Nantong Changhai Magnesium Alloy Co. Ltd., Qinghai West Magnesium Mining Co. Ltd., China Magnesium Corporation
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/metal-magnesium-global-market-report
Top Trend - Strategic Partnerships Drive Innovation In The Metal Magnesium Market
The strategic partnership is a key trend gaining popularity in the metal magnesium market. Many companies operating in the metal magnesium market and researchers/academies are undergoing partnerships for the research and development of metal magnesium. These partnerships bring synergies between the partners and result in new metal magnesium with multiple benefits. These partnerships enable metal magnesium players to innovate and strengthen their market position. For instance, in January 2023, Alliance Magnesium Inc., a Canada-based manufacturer of magnesium products and critical minerals, partnered with Triple M Metal, a Canada-based metal recycling company, to support magnesium metal recycling at Alliance's Danville foundry. The strategic partnership will make use of Triple M's global networks and capabilities to increase sourcing for Alliance's existing recycling operations while also extending Triple M's product offering and services to its clients. The Strategic Partnership advances the Alliance's objective of being a major local supplier of vital minerals to the North American market while also fostering the circular economy.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Metal Magnesium Market Characteristics
3. Metal Magnesium Market Trends And Strategies
4. Metal Magnesium Market - Macro Economic Scenario
5. Metal Magnesium Market Size And Growth
…..
27. Metal Magnesium Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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 Metal Magnesium Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033 here
News-ID: 3398665 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
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…
