Metal Magnesium Market to Reach 1.57 million Tons by 2030 | ICL Group, Baowu Magnesium Technology Co., Ltd., Rima Industrial, Solikamsk Magnesium Works

The global metal magnesium market is projected to grow steadily over the next five years, with the total volume expected to increase from 1.21 million tons in 2025 to 1.57 million tons by 2030. This growth reflects a compound annual growth rate (CAGR) of 5.3% during the forecast periodMordor Intelligence.

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Magnesium, known for its lightweight and high strength-to-weight ratio, continues to be a preferred material in several industrial applications. Its use in aluminum alloys, die-casting, and iron and steel processing has made it a critical component in sectors such as automotive, aerospace, and construction. As industries seek materials that offer performance and efficiency, magnesium's role is becoming more central in manufacturing and engineering processes.

Key Trends in the Metal Magnesium Market

Rising Demand from Aluminum Alloy Production
One of the most significant drivers of the metal magnesium market is its use in aluminum alloy production. Magnesium enhances the strength and corrosion resistance of aluminum, making it suitable for structural applications in transportation and construction. With the automotive industry increasingly adopting lightweight materials to improve fuel efficiency and meet emission standards, the demand for aluminum-magnesium alloys is expected to remain strong.

Growth in Die-Casting Applications
Die-casting is another major end-use segment for magnesium. Its low melting point and excellent castability make it ideal for producing complex components with tight tolerances. The automotive sector, in particular, uses magnesium die-cast parts for gearboxes, steering wheels, and engine blocks. As electric vehicles (EVs) gain traction, the need for lightweight components is likely to boost magnesium consumption in this area.

Iron and Steel Desulfurization
Magnesium is also used in the iron and steel industry for desulfurization. It reacts with sulfur to form magnesium sulfide, which can be easily removed from molten metal. This process improves the quality of steel, especially in high-performance applications. The continued expansion of infrastructure and construction projects worldwide supports the demand for high-grade steel, indirectly benefiting the magnesium market.

Regional Growth in Asia-Pacific

Asia-Pacific is expected to be the fastest-growing region in the metal magnesium market. Countries like China and India are witnessing rapid industrialization and urban development, which drives demand for magnesium in construction, automotive, and electronics. China, in particular, remains a leading producer and consumer of magnesium, supported by its large-scale manufacturing base and government-backed industrial policies.

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Market Segmentation: Metal Magnesium Market Breakdown

The metal magnesium market is segmented based on production process, end-user industry, and geography. Each segment plays a distinct role in shaping the overall market dynamics.

By Production Process:

Thermal Pidgeon Process: Widely used in China, this method involves reducing magnesium oxide with ferrosilicon in a vacuum.
Electrolytic Process: Common in North America and Europe, this method uses electrolysis of magnesium chloride.
Secondary/Recycled Magnesium: Gaining traction due to environmental concerns and cost efficiency.
Seawater Electro-Extraction: A niche method with limited commercial use.

By End-User Industry:

Aluminum Alloys: The largest segment, driven by demand in automotive and aerospace.
Die-Casting: Used for manufacturing lightweight and durable components.
Iron and Steel: Utilized in desulfurization and refining processes.
Metal Reduction: Acts as a reducing agent in the production of titanium and other metals.
Other Industries: Includes electronics, defense, and medical applications.

By Geography:

Asia-Pacific: Dominates the market with high production and consumption.
North America: Focuses on high-quality magnesium for aerospace and defense.
Europe: Emphasizes sustainable production and recycling.
South America and Middle East & Africa: Emerging markets with growing industrial bases.

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Key Players in the Global Metal Magnesium Market

>ICL Group
>Baowu Magnesium Technology Co., Ltd.
>Rima Industrial
>Solikamsk Magnesium Works
>US Magnesium LLC

Conclusion: Future Outlook for the Metal Magnesium Market

The metal magnesium market is on a steady growth path, supported by its expanding role in lightweight materials, alloy production, and industrial processing. As industries continue to prioritize efficiency and performance, magnesium's unique properties make it a valuable material across multiple sectors.

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