openPR Logo
Press release

Magnesium Metal Market to Reach 6.2 Bn by 2026

08-24-2017 08:36 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Global demand for magnesium metal will reach 1,085 KT in 2016, representing market value worth US$ 3.13 Bn. Steady automotive sales in the US and Western Europe, combined with a rapidly growing Asia Pacific automotive market will continue to drive demand for magnesium, as manufacturers increase their emphasis on fuel efficiency and emission control. Magnesium’s applications in making automotive wheels, transmission cases, and engine blocks will continue to fuel demand in 2016 and beyond.

Environmental and legislative influences will continue to promote the use of magnesium vis-à-vis steel and aluminium. As lightweight and fuel-efficient vehicles gain centre stage in the automotive landscape, magnesium is gaining traction as a preferred manufacturing material.

Application-wise, magnesium alloys and die-casting will continue to remain the largest segments, accounting for 349 KT and 302 KT respectively in 2016. Demand will also be supported by magnesium’s growing applications in iron and steel desulphurisation. Magnesium will continue to witness stable demand from the aerospace sector, owing to its excellent properties as a reductant in manufacturing titanium.

While magnesium’s excellent properties will continue to boost its adoption in end-use industries, slower economic growth and stringent import regulations can impede demand in 2016. Leading players in the magnesium metal landscape are expected to focus on capacity expansions and capacity additions to address these challenges.

Fill the Form for an Exclusive Sample of this Report@ http://www.futuremarketinsights.com/reports/sample/rep-gb-1550

Asia Pacific excluding Japan (APEJ) will remain the largest market for magnesium metals, accounting for 518 KT of magnesium in 2016, up from 482 KT in 2015. The region accounts for a major share in overall global automotive and steel production, and magnesium is widely used in these industries. China will continue to be the most lucrative market for magnesium -- of the overall global magnesium production capacity, around 85% is concentrated in China, while the remainder is distributed in pockets across the globe. Key China based players include Taiyuan Tongxiang Magnesium Co., Ltd, Shanxi Wenxi Hongfu Magnesium Co., Ltd.,Wenxi YinGuang Magnesium Industry (Group) Co., Ltd., and Shanxi Wenxi Zhenxin Magnesium Co., Ltd. among others. Some of the key players based outside of China include US Magnesium LLC.; Dead Sea Magnesium Ltd.; POSCO; RIMA Group; Solikamsk Magnesium Works OAO. Players based outside China are channelising efforts towards ramping up production capacities to better cater to growing magnesium demand across the globe. Over the next two to three years several new magnesium production facilities are slated to become operational across the globe.

Long-term Outlook: The global magnesium metal market is anticipated to increase at a CAGR of 7.1% during 2016-2026, reaching 6.2 Bn in revenues by 2026. APEJ will remain the largest market throughout the forecast period, increasing at a CAGR of 7.3% through 2026.

Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-gb-1550

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT:
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website :www.futuremarketinsights.com

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 Magnesium Metal Market to Reach 6.2 Bn by 2026 here

News-ID: 682950 • Views:

More Releases from Future Market Insights

Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Million by 2032
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolstered by a Robust 7.1% CAGR from 2022
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of the Metal Cans Industry, Catering to Health-conscious and Environmentally-aware Consumers
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033. The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 with a 4.8% CAGR
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute

All 5 Releases


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 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
Magnesium and Magnesium Alloy Global Market 2018: Key Players – Magnesium Elek …
Magnesium and Magnesium Alloy Industry Description Wiseguyreports.Com Adds “Magnesium and Magnesium Alloy -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2023” To Its Research Database Magnesium alloys are mixtures of magnesium with other metals (called an alloy), often aluminum, zinc, manganese, silicon, copper, rare earths and zirconium.  In the coming years, the growth demand of magnesium alloys from powertrain and body structure applications in automobiles and 3Cs (cell phones, communications,