North America Magnesium Alloys Market to 2032

Overview

The North America Magnesium Alloys Market is expected to reach a 0.54 USD Million by 2032 and is projected to grow at a CAGR of 5.79% from 2025 to 2032.

Revenue, 2024 (USD Million)

0.39

Forecast, 2032 (USD Million)

0.54

CAGR, 2024 - 2032

5.79%

Report Coverage

North America

North America Magnesium Alloys Market 2018-2032 USD Million

North America Magnesium Alloys Market, Key Findings (2025-2032)

Market Growth and Projections:

Market Size (2024): 0.39 USD Million
Projected Market Size (2032): 0.54 USD Million
CAGR (2025-2032): 5.79%

Key Findings of North America Magnesium Alloys Market

The North America Magnesium Alloys Market was valued at 0.39 USD Million in 2024.
The North America Magnesium Alloys Market is likely to grow at a CAGR of 5.79% 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 0.28 USD Million
The fastest growing segment Automotive & Transportation in Application Segment grew Fastest with a CAGR of 6.21% during the forecast period from 2024 to 2032.

North America Magnesium Alloys Market Scope

North America Magnesium Alloys Market Segmentation & Scope

Application

Power Tools
Others
Electronics
Aerospace & Defense
Automotive & Transportation

Product Type

Wrought Alloy
Cast Alloy

North America Magnesium Alloys Market Data Coverage Insights

Study Period	2024-2032
Base Year	2021
Unit	Revenue in USD Million
Market Value in 2024	0.39 USD Million
Market Value in 2032	0.54 USD Million
CAGR (2025-2032)	5.79%
Historic Data	2016-2023
Market Segments Covered	Application,Product Type

Regional Insights:

Leading Market (2024-2032): North America, leading in terms of revenue 0.39 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

North America Magnesium Alloys Market to 2032, By Application
- Automotive & Transportation is the largest segment in North America Magnesium Alloys Market to 2032 with a revenue of 0.15 USD Million in the year 2024.
- Automotive & Transportation is the Fastest growing segment in North America Magnesium Alloys Market to 2032 with a Growth rate of 6.21 % in forecast period 2025-2032.
North America Magnesium Alloys Market to 2032, By Product Type
- Cast Alloy is the largest segment in North America Magnesium Alloys Market to 2032 with a revenue of 0.28 USD Million in the year 2024.
- Cast Alloy is the Fastest growing segment in North America Magnesium Alloys Market to 2032 with a Growth rate of 5.93 % in forecast period 2025-2032.

North America Magnesium Alloys Market Company Share Analysis

Company Name
Namoalloy
Luxfer MEL Technologies
Magontec
Mag Specialties Inc.
US Magnesium LLC

North America Magnesium Alloys Market Geographical Sales Distribution, 2018-2032 USD Million

North America Magnesium Alloys Market Company Profiling

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Frequently Asked Questions

What are the primary segments covered in the North America Magnesium Alloys Market?

The North America Magnesium Alloys Market is segmented based on Segmentation Application,Product Type.

What is the current market size of the North America Magnesium Alloys Market?

North America Magnesium Alloys Market was valued at USD 0.39(Revenue in USD Million) in 2021.

What is the expected growth rate of the North America Magnesium Alloys Market?

North America Magnesium Alloys Market is projected to grow at a CAGR of 5.79% during the forecast period of 2024 to 2032.

Which is the dominating segment in the North America Magnesium Alloys Market?

The Cast Alloy segment is expected to dominate the North America Magnesium Alloys Market, holding a largest market share of 0.28 USD Million in 2024