Magnesium Alloys Market is forecast to grow at a CAGR of 6.3% for the forecast period of 2018 to 2025 to an estimated value of USD 2.10 billion by 2025, from USD 1.32 billion in 2017 due to accelerating usage of magnesium alloys in the automotive industry which is adding thrust to the growth of the market.
The impending use of magnesium alloys in the medical, biomedical and aerospace & defense industries will further boost various new opportunities that will fuel the growth of the magnesium alloys market in the above mentioned forecast period.
According to Data Bridge Market Research the magnesium alloys market in developing regions is witnessing a growth in terms of its adoption rate, due to the advantages of magnesium alloys over other alloys. Some of the factors such as fluctuating prices of magnesium and issues related to weld ability and corrosion resistance will limit the growth of magnesium alloys market in the forecast period of 2018 to 2025.
Now the question is which are the regions that magnesium alloys market players should target? Data Bridge Market Research has forecasted large growth in Asia-Pacific owing to rising demand for magnesium alloys from the powertrain, cellphones, computers, body structure and consumer electronics applications in China and South Korea.
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Magnesium alloys market is segmented on the basis of countries into U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa.
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Key Market Competitors Covered in the report
Above are the key players covered in the report, to know about more and exhaustive list of magnesium alloys companies, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-magnesium-alloys-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecast using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Magnesium Alloys Market – Industry Trends and Forecast to 2027