Global Magnesium Alloys Market to 2032
Overview
The Global Magnesium Alloys Market is expected to reach a 2.21 USD Million by 2032 and is projected to grow at a CAGR of 3.82% from 2025 to 2032.
Revenue, 2024 (USD Million)
1.58
Forecast, 2032 (USD Million)
2.21
CAGR, 2024 - 2032
3.82%
Report Coverage
Global
Global Magnesium Alloys Market 2018-2032 USD Million
Global Magnesium Alloys Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 1.58 USD Million
- Projected Market Size (2032): 2.21 USD Million
- CAGR (2025-2032): 3.82%
Key Findings of Global Magnesium Alloys Market
- The Global Magnesium Alloys Market was valued at 2.21 USD Million in 2024.
- The Global Magnesium Alloys Market is likely to grow at a CAGR of 3.82% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Cast Alloy in Product Type Segment accounted for the largest share of the market with a revenue of 1.14 USD Million
- The fastest growing segment Automotive & Transportation in Application Segment grew Fastest with a CAGR of 4.06% during the forecast period from 2024 to 2032.
Global Magnesium Alloys Market Scope
Global Magnesium Alloys Market Segmentation & Scope
Application
- Power Tools
- Others
- Electronics
- Aerospace & Defense
- Automotive & Transportation
Product Type
- Wrought Alloy
- Cast Alloy
Global Magnesium Alloys Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2021 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 1.58 USD Million |
| Market Value in 2032 | 2.21 USD Million |
| CAGR (2025-2032) | 3.82% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Application,Product Type |
Regional Insights:
-
Leading Market (2024-2032): Global, leading in terms of revenue 1.58 USD Million in 2024
- Key Country: U.S., leading in terms of revenue with value of 0.25 USD Million in 2024.
Segments and Scope
-
Global Magnesium Alloys Market to 2032, By Application
- Automotive & Transportation is the largest segment in Global Magnesium Alloys Market to 2032 with a revenue of 0.63 USD Million in the year 2024.
- Automotive & Transportation is the Fastest growing segment in Global Magnesium Alloys Market to 2032 with a Growth rate of 4.06 % in forecast period 2025-2032.
-
Global Magnesium Alloys Market to 2032, By Product Type
- Cast Alloy is the largest segment in Global Magnesium Alloys Market to 2032 with a revenue of 1.14 USD Million in the year 2024.
- Cast Alloy is the Fastest growing segment in Global Magnesium Alloys Market to 2032 with a Growth rate of 3.90 % in forecast period 2025-2032.
Global Magnesium Alloys Market Company Share Analysis
| Company Name |
|
||
| Namoalloy | |||
| Luxfer MEL Technologies | |||
| Magontec | |||
| Mag Specialties Inc. | |||
| US Magnesium LLC | |||
Global Magnesium Alloys Market Geographical Sales Distribution, 2018-2032 USD Million
Global Magnesium Alloys Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Global Magnesium Alloys Market is segmented based on Segmentation Application,Product Type.
Global Magnesium Alloys Market was valued at USD 1.58(Revenue in USD Million) in 2021.
Global Magnesium Alloys Market is projected to grow at a CAGR of 3.82% during the forecast period of 2024 to 2032.
The Cast Alloy segment is expected to dominate the Global Magnesium Alloys Market, holding a largest market share of 1.14 USD Million in 2024
Global Magnesium Alloys Market Scope
Global Magnesium Alloys Market Segmentation & Scope
Application
- Power Tools
- Others
- Electronics
- Aerospace & Defense
- Automotive & Transportation
Product Type
- Wrought Alloy
- Cast Alloy
Frequently Asked Questions
The Global Magnesium Alloys Market is segmented based on Segmentation Application,Product Type.
Global Magnesium Alloys Market was valued at USD 1.58(Revenue in USD Million) in 2021.
Global Magnesium Alloys Market is projected to grow at a CAGR of 3.82% during the forecast period of 2024 to 2032.
The estimated market value of the Global Magnesium Alloys Market for final year is USD 2.21 (USD Million).
Global Magnesium Alloys Market Company Profiling
Frequently Asked Questions
The Global Magnesium Alloys Market is segmented based on Segmentation Application,Product Type.
Global Magnesium Alloys Market was valued at USD 1.58(Revenue in USD Million) in 2021.
Global Magnesium Alloys Market is projected to grow at a CAGR of 3.82% during the forecast period of 2024 to 2032.
The estimated market value of the Global Magnesium Alloys Market for final year is USD 2.21 (USD Million).
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