Global Magnesium Alloys Market, By Alloy Type (Cast Alloy, Wrought Alloy), End-Use Industry (Automotive and Transportation, Electronic, Aerospace and Defence, Power Tools, Others), Country (U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Luxemburg, Rest of Europe, Japan, China, South Korea, India, Australia And New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America UAE, Saudi Arabia, Egypt, Israel, South Africa, And Rest Of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Magnesium Alloys Market
Data Bridge Market Research analyses that the magnesium alloys market will witness a CAGR of 11.68% for the forecast period of 2022-2029 and is likely to reach USD 4.25 billion in 2029.
Magnesium alloys refer to the type of alloys with the combinations of magnesium with other metals, often aluminium, zinc, manganese, silicon, copper, rare earths and zirconium. These alloys have a hexagonal lattice structure, that assist in moving the essential properties of these alloys.
The rising applications of alloys from automotive industry is the major factor accelerating the growth of the magnesium alloys market. Furthermore, growing benefits of magnesium alloys over other alloys, rising popularity of product in artificial human implants, increasing usages of magnesium alloy in aerospace, defense and medical industry are also expected to drive the growth of the magnesium alloys market. However, volatility in the prices of raw material along with welding issues restrains the magnesium alloys market, whereas, corrosion resistance will challenge market growth.
In addition, growth of electric vehicle, introduction of new process such as thixomolding and new rheocasting will create ample opportunities for the magnesium alloys market.
This magnesium alloys market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on magnesium alloys market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Magnesium Alloys Market Scope and Market Size
The magnesium alloys market is segmented on the basis of alloy type and end-use industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of alloy type, magnesium alloys market is segmented into cast alloy, and wrought alloy.
- Based on end-use industry, magnesium alloys market is segmented into automotive and transportation, electronic, aerospace and defence, power tools, and others. Automotive and transportation has been further segmented into body structure, powertrain, interior, and chassis. Aerospace and defence has been further segmented into commercial helicopters, military helicopters, and fighter aircraft. Others have been further segmented into medical, and sporting goods.
Magnesium Alloys Market Country Level Analysis
The magnesium alloys market is analysed and market size, volume information is provided by country, alloy type and end-use industry as referenced above.
The countries covered in the magnesium alloys market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the magnesium alloys market and will continue to flourish its dominance during the forecast period due to the rising defence budget along with rising applications from automotive industry in the region. However, Asia-Pacific will continue to project the highest CAGR for this period due to the rising foreign direct investment along with growing number of investment in automotive projects.
The country section of the magnesium alloys market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Magnesium Alloys Market Share Analysis
The magnesium alloys market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to magnesium alloys market.
Some of the major players operating in the magnesium alloys market report are Ka Shui International Holdings Ltd., Magontec Limited, U.S. Magnesium LLC, Meridian Lightweight Technologies., Amacor., Shanghai Regal Magnesium Limited Company, Dynacast, Shanxi Fugu Tianyu Mineral Industry, Posco, China Magnesium Corporation, Dead Sea Magnesium, Spartan Light Metal Products., Smiths Metal Centres Limited, RIMA, Tongxiang Metal Magnesium Co.Ltd (Taiyuan) among other.
Customization Available : Global Magnesium Alloys Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.