Global Magnesium Metal Market was valued at USD xx Bn in 2019 and is expected to reach USD xx Bn by 2027 at a CAGR of xx% over the forecast period 2020-2027.
Global Magnesium Metal Market
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Magnesium Metal Market by region and on the key players’ revenue affected till April 2020 and expected short term, and long-term impact on the market.
Global Magnesium Metal Market Dynamics;
Magnesium is very chemically active, it takes the place of hydrogen in boiling water and a great number of metals can be produced by thermic reduction of its salts and oxidized forms with magnesium. It joins together with most non-metals and almost every acid. Magnesium is the eighth-most abundant element and constitutes about 2% of the Earth’s crust by weight, and it is the third most plentiful element dissolved in seawater. It is abundant in nature and is found in important quantities in many rocky minerals, like dolomite, magnetite, olivine, and serpentine. It is also found in seawater, underground brines, and salty layers. Various factors such as increasing use of magnesium metal as a refractory material in furnace linings for producing cement & glass, rising demand from the automotive sector, increasing investment by major players in R&D and growing magnesium consumption to remove sulphur in the production of steel & iron and for titanium production are driving the global magnesium metal market over the forecast period.
However, factors such as the explosive nature of magnesium & its alloys and harmful emission of UV light when burnt are restraining the market growth over the forecast period.
Global Magnesium Metal Market is segmented by application and by region. By application, the automotive application segment dominated the global market in 2019 and is expected to keep its dominance over the forecast period. Factors such as rising demand for magnesium metal in the automotive industry for the production of various automobile parts, increasing adoption of magnesium metal in making of aluminium alloys, and increasing usage of magnesium for die-casting are expected to fuel the growth of the market growth this segment over the forecast period. Major automobile companies such as Mercedes, Porsche, BMW, and Chevrolet use magnesium and its alloys in their engines and body parts. The Automobile application segment is followed by electronics. The Expanding electronics industry is expected to propel the demand owing to its superior electrical & mechanical properties. Growing usage in laptops, mobile phones, tablets, cameras, and computers is further expected to fuel the market growth of this segment.
By geography, the Asia Pacific dominated the global market in 2019 and is expected to keep its dominance over the forecast period. Various factors such as rapid industrialization, growing automotive sector, growth in the electronics industry particularly in China are driving the market growth in this region. China is the largest producer and consumer of magnesium and its alloys. In China, a new 100,000ton per year plant in Qinghai Province, completed in 2017 started producing magnesium from lake brines and was expected to ramp-up to full capacity by Dec 2020. Estimated production in China in 2018 decreased by approximately 15% compared with that in 2017, owing to shutdowns in the second half of the year ordered by regulators to decrease pollution and conserve energy. APAC is followed by North America and Europe. North America is expected to hold xx% of market share over the forecast period owing to the growing R&D in the aerospace and automotive sector. Increasing the use of magnesium and its alloys in the manufacturing of automotive engines, alloy wheels, and aircraft body is expected to drive the market growth in this region.
The report covers in-depth analysis of key development, marketing strategies, supply-side and demand-side indicators. Key players are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches, and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Magnesium Metal Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Magnesium Metal Market dynamics, structure by analyzing the market segments and project Global Magnesium Metal Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Magnesium Metal Market make the report investor’s guide.
Scope of Global Magnesium Metal Market
Global Magnesium Metal Market Segmentation by Application
• Aluminium alloys
• Automotive industry
• Aerospace industry
• Electronics industry
Global Magnesium Metal Market Segmentation by Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Global Magnesium Metal Market Major Players
• Solikamsk Magnesium Works
• US Magnesium
• Dead Sea Magnesium
• Nippon Kinzoku
• Sunglow Group
• Nevada Clean Magnesium Inc.
• Magontec Ltd.
• Latrobe Magnesium Ltd.
• DunAn Magnesium
• Regal Magnesium
• CVM Minerals Limited
• Rima Industrial
• Gossan Resources Ltd
• US Magnesium
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
Contact: +919607065656 / +919607195908