Press release
Magnesium Market to Reach US$42.98 Billion by 2032 | Asia-Pacific Leads with China as Dominant Producer and Consumer | DataM Intelligence
Magnesium Market
According to DataM Intelligence, the global magnesium market reached US$27.65 billion in 2024 and is expected to reach US$42.98 billion by 2032, growing with a CAGR of 5.67% during the forecast period 2025-2032. This steady growth is propelled by increasing demand from automotive and aerospace industries for lightweight materials, expanding construction activities, growing aluminum alloy production, rising healthcare applications, and strong demand from electronics manufacturing sectors globally.
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Browse in-depth TOC on "Magnesium Market"
70 - Tables
65 - Figures
185 - Pages
Recent Developments (November 2025)
✅ China Magnesium Corporation (China) expanded their pure magnesium production capacity, introducing advanced smelting technology to meet growing global demand from automotive and aerospace sectors.
✅ US Magnesium LLC (US) launched a new line of high-purity magnesium alloys specifically designed for die casting applications in electric vehicle components.
✅ Dead Sea Magnesium Ltd. (Israel) developed innovative magnesium compounds for healthcare applications, featuring enhanced bioavailability for pharmaceutical and nutritional supplement formulations.
✅ RIMA Group (Brazil) introduced specialized magnesium alloys for aerospace applications, achieving superior strength-to-weight ratios for aircraft components.
✅ Solikamsk Magnesium Works (Russia) expanded their titanium reduction grade magnesium production, securing long-term contracts with aerospace titanium manufacturers.
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Competitive Landscape
The market features strong competition between global magnesium producers, specialized alloy manufacturers, and regional processing companies.
1. China Magnesium Corporation maintained market dominance with 35% global market share, expanding their production facilities and reporting 28% revenue growth in 2024-2025 through strategic export contracts.
2. US Magnesium LLC captured 18% market share in North America, securing long-term supply agreements with automotive manufacturers and achieving 22% growth through product innovation.
3. Dead Sea Magnesium Ltd. dominated the magnesium compounds segment with 15% market share, reporting 25% growth through advanced healthcare and industrial applications.
4. RIMA Group led aerospace alloy development with 12% market share, achieving 20% growth through technical partnerships with aircraft manufacturers.
5. Solikamsk Magnesium Works expanded their industrial applications with 10% market share, focusing on titanium reduction with 18% revenue growth.
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Segmentation Analysis
By Product
• Magnesium Alloys dominates the market with USD 12.5 billion in 2024, projected to grow at 6.2% CAGR, valued for superior strength-to-weight ratio, excellent castability, and widespread adoption in automotive, aerospace, and electronics applications requiring lightweight structural components.
• Pure Magnesium shows strong growth with USD 8.2 billion in 2024, expected to grow at 5.3% CAGR, preferred for chemical reduction processes, aluminum alloying, and specialized industrial applications.
• Magnesium Compounds demonstrates significant expansion with USD 6.95 billion in 2024, growing at 5.8% CAGR, valued for agricultural, pharmaceutical, and construction applications.
By Application
• Aluminum Alloys represents the largest segment with USD 9.8 billion in 2024, growing at 5.9% CAGR, driven by increasing demand for lightweight aluminum-magnesium alloys in automotive, packaging, and construction industries worldwide.
• Die Casting shows robust growth with USD 8.5 billion in 2024, expanding at 6.5% CAGR, valued for automotive components, electronic housings, and power tool applications requiring precision casting.
• Titanium Reduction and Iron & Steel Making demonstrate essential roles in metal production processes.
By End-User
• Automotive leads the market with USD 10.2 billion in 2024, projected to grow at 6.8% CAGR, driven by lightweighting initiatives, electric vehicle production growth, and fuel efficiency requirements across global automotive manufacturers.
• Aerospace shows accelerated growth with USD 6.5 billion in 2024, expected to grow at 7.2% CAGR, preferred for aircraft components, satellite structures, and defense applications requiring high strength and low weight.
• Electronics and Construction demonstrate expanding applications in consumer goods and building materials.
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Regional Analysis:
Asia-Pacific dominates the magnesium market and is predicted to increase at the fastest rate during the forecast period, with China leading as the world's largest magnesium producer and user, driven by massive manufacturing capacity, strong domestic demand from automotive and electronics sectors, established supply chain infrastructure, and government support for metal production industries across the region.
North America shows strong growth with significant demand from aerospace and automotive sectors, while Europe demonstrates steady expansion in automotive lightweighting and sustainable material applications.
Market Trends & Drivers
The Magnesium Market is experiencing steady growth driven by lightweight material demand, automotive industry transformation, aerospace innovation, and sustainable manufacturing trends. Key trends include the development of advanced magnesium alloys, expansion in electric vehicle applications, growth in healthcare uses, innovation in production technologies, and increasing focus on recycling and circular economy. The lightweighting imperative, technological advancements, and industrial growth are significantly contributing to market expansion.
Related Reports:
1. Rare Earth Metals Market - https://www.datamintelligence.com/research-report/precious-metal-market?jd
2. Precious Metal Market - https://www.datamintelligence.com/research-report/rare-earth-metals-market?jd
3. Magnesium Alloys Market - https://www.datamintelligence.com/research-report/magnesium-alloys-market?jd
Contact Us:
Sai Kiran
DataM Intelligence 4market Research LLP
Phone: +1 877-441-4866
Email: Sai.k@datamintelligence.com
About DataM Intelligence
DataM Intelligence is a renowned provider of market research, delivering deep insights through pricing analysis, market share breakdowns, and competitive intelligence. The company specialises in strategic reports that guide businesses in high-growth sectors such as nutraceuticals and AI-driven health innovations.
To find out more, visit https://www.datamintelligence.com/ or follow us on Twitter, LinkedIn and Facebook.
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