Global Metal Magnesium Market Top Major Players 2024, Forecast To 2033
22 Feb, 2024
The metal magnesium market has seen strong growth, rising from $4.43 billion in 2023 to $4.73 billion in 2024, with a 6.9% CAGR. Automotive industry demand for lightweight materials and government initiatives fueled historic growth. The forecast predicts growth to $6.13 billion by 2028, driven by battery technologies and 3D printing applications. Trends include corrosion-resistant materials and sustainable production.
Global Metal Magnesium Market Key Driver
The metal magnesium market is witnessing growth due to the increased focus on automotive light-weighting. The focus on lightweight automotive vehicles for fuel efficiency and emission standards is creating a significant demand for metal magnesium, as its lightweight property is utilized in various automotive components.
Get A Free Sample Of The Global Metal Magnesium Market ReportGlobal Metal Magnesium Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the metal magnesium market in 2023. The regions covered in the metal magnesium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Metal Magnesium Industry Players
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
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Metal Magnesium Market Overview
The metal magnesium refers to a light structural metal that is used to produce lightweight products including car covers, car seats, cameras, laptops, fuel tank covers, steering wheels, and others. Magnesium is also used to melt iron and steel to remove the sulfur particles and is also used in fireworks, sparklers, flares, and others.
Metal Magnesium Global Market Report 2023 provides data on the global metal magnesium market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The metal magnesium market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.