Magnesium Metal Market By Application (Die-casting, Aluminium Alloys, Metal Reduction, Desulphurization, Others) & Region – Forecast 2023 – 2033

Magnesium Metal The Future of Lightweight Metals in Automotive and Aerospace Industries

Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-69265 Format: PDF Pages: 300

Report Highlights
According to a research survey conducted by ChemView Consulting, in 2023, Magnesium Metal Market was worth US $ 4.85 Bn . The market is expected to grow at a CAGR of 5.30% between 2023 and 2033 to hit US $ 8.14 Bn by 2033 end.

Key Market Trends

The Lightweight Alternative to Heavy Metals

With its lightweight properties, magnesium metal is becoming a popular alternative to heavy metals in various applications, creating a wide range of opportunities in the market.

The Future of Sustainable Energy Storage

With its role in energy storage, magnesium metal is becoming a popular choice for sustainable energy solutions, making it a future-proof investment in the market.

The Essential Element in Aerospace and Defence

With its role in reducing the weight of aerospace and defence components, magnesium metal is an essential element in these industries, creating a wide range of opportunities in the market.

Market Drivers

Growing demand from the automotive and aerospace industries

Magnesium metal is widely used in the automotive and aerospace industries due to its lightweight and high strength-to-weight ratio properties, which help reduce fuel consumption and emissions. The increasing demand for fuel-efficient vehicles and the growing aerospace industry are expected to drive the growth of the magnesium metal market.

As a sustainable and recyclable material, magnesium metal is becoming a popular choice for manufacturers looking for eco-friendly solutions. This is expected to create lucrative opportunities for players operating in the magnesium metal market.

The increasing use of magnesium alloys in various applications, such as power tools, sporting goods, and medical implants, is expected to further boost the growth of the magnesium metal market.

Segmentation Insights

After conducting a thorough analysis of the Magnesium Metal Market, we have identified the top three trending segments in the industry. These segments are experiencing significant growth, high demand, and widespread adoption.

Most Popular (Fastest Growth Rate)

Aluminium Alloys

Magnesium Metal is the most popular choice in the Aluminium Alloys Application, due to its lightweight and high-strength properties. It is widely used in the production of aluminium-magnesium alloys, which are extensively used in the aerospace and automotive industries. Magnesium Metal’s ability to improve the strength-to-weight ratio of aluminium alloys, make them the preferred choice for these industries.

Most Selling (Largest Market Share)

Die-casting (Application)

Magnesium Metal is the most selling product in the Die-casting Application due to its superior casting properties. It is widely used in the production of die-cast parts for various industries, including automotive, electronics, and aerospace. Magnesium Metal’s excellent fluidity, low density, and high thermal conductivity make it the go-to choice for die-casting applications.

Trending (Gaining Traction)

Metal Reduction

Magnesium Metal is gaining significant traction in the Metal Reduction Application due to its ability to reduce other metals. It is widely used in the production of titanium and zirconium, as well as in the refining of certain metals. Magnesium Metal’s ability to reduce other metals in a cost-effective and efficient manner, make it a trending choice in the metal reduction application.

Regional Insights

North America: A Strong Market with Advanced Applications

The North American magnesium metal market is experiencing substantial growth due to its expanding automotive and aerospace industries. With an emphasis on lightweight and fuel-efficient vehicles, the demand for magnesium metal has surged, as it offers an excellent strength-to-weight ratio and corrosion resistance. Additionally, the increased adoption of magnesium metal in electronics, medical devices, and military applications has further cemented North America’s position as a leading market in the magnesium metal industry.

Southeast Asia: Emerging Market with High Potential

The Southeast Asian market, including countries like Indonesia, Malaysia, and Thailand, is becoming a hotbed for the magnesium metal industry, driven by their growing industrialization and manufacturing capabilities. The region’s booming automotive and electronics sectors are fuelling the demand for magnesium metal, leading to increased investments in local production facilities. Southeast Asia’s strategic location, abundant resources, and favourable government policies make it an attractive market for global magnesium metal manufacturers and investors.

Report Includes

Research Scope/Taxonomy
Market Analysis by Application:

  • Die-casting
  • Aluminium Alloys
  • Metal Reduction
  • Desulphurization
  • Others

Market analysis by region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Middle East & Africa
  • East Asia
  • South Asia & Pacific

Analyst Credentials

Key Companies Profiled

  • US Magnesium LLC
  • Dead Sea Magnesium Ltd
  • RIMA Group
  • Solikamsk Magnesium Works OAO
  • Wenxi YinGuang
  • Magnesium Industry (Group) Co., Ltd.
  • Shanxi Wenxi Hongfu Magnesium Co., Ltd.
  • Shanxi Wenxi Zhenxin
  • Magnesium Co., Ltd.
  • Taiyuan Tongxiang Magnesium Co., Ltd.

1.1. Global Market Snapshot

1.2. Key Success Factors

1.3. Strategic Analysis and Recommendations

2.1. Market Taxonomy

2.2. Market Definitions

3.1. Preliminary Investigation & Research Design

3.2. Secondary Research & Primary Research

3.3. Data Analysis & Econometric Modelling

3.4. Expert Data Validation

4.1. Supply-Side Trends

4.2. Demand-Side Trends

5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032

5.2. Incremental $ Opportunity Index, 2022-2032

5.3. Global Market Volume (Tons) Analysis, 2017 – 2032

6.1. Regional Level Pricing Analysis and Forecast

6.1.1. Manufacturers Level Pricing

6.1.2. Distributor Level Pricing

6.2. Global Pricing Analysis Benchmark

6.3. Cost Breakdown Analysis

7.1. Cross-Analysis of Application

8.1. Regional Supply Vs. Demand Gap Assessment

8.2. Top Producing Countries Analysis

9.1. Macroeconomic Factors

9.2. Forecast Factors

9.3. Market Dynamics

9.3.1. Driver

9.3.2. Restraint

9.3.3. Opportunity

9.4. Supply Chain Analysis

9.4.1. List Raw Material Suppliers

9.4.2. List of Manufacturers

9.4.3. List of Distributors

9.4.4. List of End-Users

9.4.5. End-Users Consumption Analysis

9.4.6. Average Profitability Margin Analysis

9.5. Covid-19 Impact Assessment

9.5.1. Economy/Cluster Projections

9.5.2. Covid-19 Economic Assessment

9.5.3. Impact on Target Market

9.5.4. Recovery Scenario

9.6. Regulatory Framework

9.6.1. Regulations of Key Countries

9.6.2. Potential Impact of Regulations

9.7. Porter’s Five Forces Analysis

9.8. Technology Landscape

10.1. Introduction

10.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]

10.3. Die-casting

10.4. Aluminium Alloys

10.5. Metal Reduction

10.6. Desulphurization

10.7. Others

12.3.Market Attractiveness Analysis by Application

11.1. Introduction

11.2. Key Market Trends

11.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]

11.3.1. North America

11.3.2. Latin America

11.3.3. Europe

11.3.4. Asia-Pacific

11.3.5. Middle East

11.3.6. Africa

11.4. Market Attractiveness Analysis by Region

12.1. Introduction

12.2. Key Market Trends

12.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

12.3.1. By Country U.S. Canada

12.3.2. By Application

12.4. Market Attractiveness Analysis

12.4.1. By Country

12.4.2. By Application

13.1. Introduction

13.2. Key Market Trends

13.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

13.3.1. By Country Brazil Mexico Rest of Latin America

13.3.2. By Application

13.4. Market Attractiveness Analysis

13.4.1. By Country

13.4.2. By Application

14.1. Introduction

14.2. Key Market Trends

14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

14.3.1. By Country Germany Italy France UK Spain Netherlands Norway Russia Rest of Europe

14.3.2. By Application

14.4. Market Attractiveness Analysis

14.4.1. By Country

14.4.2. By Application

15.1. Introduction

15.2. Key Market Trends

15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

15.3.1. By Country China Japan South Korea India Indonesia Thailand Vietnam Australia & New Zealand Rest of Asia-Pacific

15.3.2. By Application

15.4. Market Attractiveness Analysis

15.4.1. By Country

15.4.2. By Application

16.1. Introduction

16.2. Key Market Trends

16.3. Pricing Analysis

16.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

16.4.1. By Country Saudi Arabia Turkey U.A.E. Rest of the Middle East

16.4.2. By Application

16.5. Market Attractiveness Analysis

16.5.1. By Country

16.5.2. By Application

17.1. Introduction

17.2. Key Market Trends

17.3. Pricing Analysis

17.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

17.4.1. By Country South Africa Nigeria Egypt Rest of Africa

17.4.2. By Application

17.5. Market Attractiveness Analysis

17.5.1. By Country

17.5.2. By Application

18.1. Tier Structure Breakdown

18.2. Market Share Analysis

18.3. Production Capacity Analysis

18.4. Company Footprint Analysis

18.4.1. Product Footprint of Players

18.4.2. Regional Footprint of Players

18.4.3. Channel Footprint of Players

18.5. Brand Preference Analysis

18.6. Competition Dashboard

19.1. US Magnesium LLC.

19.1.1. Company Overview

19.1.2. Product & Financial Portfolio

19.1.3. Manufacturing Facilities

19.1.4. Recent Developments

19.1.5. SWOT Analysis

19.1.6. Strategy Overview

19.2. Dead Sea Magnesium Ltd

19.3. POSCO

19.4. RIMA Group

19.5. Solikamsk Magnesium Works OAO

19.6. Wenxi YinGuang

19.7. Magnesium Industry (Group) Co., Ltd.

19.8. Shanxi Wenxi Hongfu Magnesium Co., Ltd.

19.9. Shanxi Wenxi Zhenxin

19.10. Magnesium Co., Ltd.

19.11. Taiyuan Tongxiang Magnesium Co., Ltd..