Magnesium alloys market is likely to show a substantial growth during the forecast period of 2018-2025. The company profiles of all the key players and brands that are dominating the market with moves like product launches, joint ventures, merges and accusations which in turn is affecting the sales, import, export, revenue and CAGR values are mentioned in the report. The magnesium alloys market report provides an in-depth overview of product specification, technology, product type and production analysis considering major factors such as revenue, cost, gross and gross margin. This report also contains all the company profiles of the market players and brands that are affecting the market.
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The Global Market is expected to reach USD 2.10 billion by 2025, from USD 1.32 billion in 2017 growing at a CAGR of 6.3% during the forecast period of 2018 to 2025. The Magnesium Alloys Market report contains data for historic year& 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The global metals and alloys industry is changing in various ways like innovation and development of new alloys in such a way that the tensile strength and other properties of the conventional metals are improved. Magnesium is one of the most abundantly found elements in the world. It is found primarily on the surface of the ocean beds in different forms. Alloying magnesium improves its heat resistance, tensile strength and creep resistance. Alloys can be termed as different alternatives to iron metals as they have less weight and they improve the tensile strength of a material. These alloys have an outstanding corrosion resistant property and are considerably light in weight hence, they are used for a wide range of applications such as portable electronic devices, automobile parts, computer parts, and portable telephones. The key players operating in the global magnesium alloys market are
- Magnesium Elektron
- KA Shui International Holdings Ltd.
- Nanjing Yunhai Special Metals Co. Ltd.
- Meridian Lightweight Technologies,
- Shanghai Regal Magnesium Limited Company,
- Shanxi Yinguang Huasheng Magnesium,
Others: Shanxi Credit Magnesium Co. Ltd., Dynacast, Shanxi Fugu Tianyu Mineral Industry, Posco, China Magnesium Corporation Limited, Dead Sea Magnesium, Spartan Light Metal Products, Smiths Advanced Metals, Rima Group, Yee Dongguan Science and Technology Co. Ltd, Taiyuan Tongxiang Magnesium Co. Ltd and many more. The global magnesium alloys market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of magnesium alloys market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
The reserves of magnesium that are around the globe are comparatively two-fifth that of iron and 190 times higher than those of copper and nickel. Such high abundance of magnesium makes it as one of the most inexhaustible resource which is distributed all over the world. The magnesium alloy is majorly used in automotive & transportation industry. According to an article published by International trade administration, the U.S. light vehicle production reached almost USD 12.00 million in the year 2016 and the sales of light vehicle reached approximately USD 17.5 million in the year 2016.
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Segmentation: Global Magnesium Alloys Market
By Alloy Type
- Cast Alloy, Wrought
- Alloy Others
By End-Use Industry
- Automotive & Transportation
- Aerospace & Defence
- Power Tools
- North America
- South America
- Middle East & Africa
- Growing use of magnesium alloys in the automotive industry due to regulations over fuel efficiency and emissions
- Advantages of magnesium alloys over other alloys
- Uncertainty of magnesium price
- Issues related to weldability and corrosion resistance
Key Insights in the report:
- Historical and current market size and projection up to 2025
- Market trends impacting the growth of the global Magnesium Alloys market
- Analyse and forecast the Magnesium Alloys market on the basis of processes, derivative, and application
- Trends of key regional and country-level markets for processes, derivative, and application
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
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