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Demand for Metal Magnesium Is Likely to Surge 1.6x by 2032
13 days ago
4 min read

Demand for Metal Magnesium Is Likely to Surge 1.6x by 2032

The metal magnesium market refers to the segment of the global metal industry that produces and distributes magnesium metal and magnesium alloys. Magnesium is a lightweight metal with excellent mechanical and physical properties, such as high strength-to-weight ratio, good heat dissipation, and resistance to corrosion. These properties make magnesium an ideal material for various applications in industries such as automotive, aerospace, electronics, and construction.

The metal magnesium market is growing due to several factors, including the increasing demand for lightweight materials in the automotive and aerospace industries, the rising demand for magnesium in the production of electronic devices, and the growing use of magnesium alloys in the construction industry. The market is segmented based on the type of product, such as magnesium ingots, magnesium alloys, and magnesium powder. Magnesium alloys, which are produced by combining magnesium with other metals such as aluminum, zinc, and copper, are the most commonly used form of magnesium in industrial applications.

The market is also segmented based on the type of end-use industry, such as automotive, aerospace, electronics, and construction. The automotive industry is the largest consumer of magnesium, accounting for a significant portion of the global demand for magnesium metal and alloys. The major players in the metal magnesium market include companies like US Magnesium, Norsk Hydro ASA, POSCO, China Magnesium Corporation, and Dead Sea Magnesium Ltd. These companies are constantly innovating and introducing new products and technologies to meet the evolving needs of the market.

The metal magnesium market is expected to continue growing in the coming years, driven by factors such as the increasing demand for lightweight materials, the growing use of magnesium alloys in the construction industry, and the rising adoption of electric vehicles, which require more magnesium for their battery systems. However, the market also faces challenges such as the high cost of production, limited availability of raw materials, and environmental concerns associated with the production of magnesium.

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Key findings of the Metal Magnesium market study:

  • The report provides a present market outlook on Metal Magnesium. Additionally, the Metal Magnesium market share is anticipated to grow with a CAGR of 5.2% in the forecast period.

  • Regional breakdown of the Metal Magnesium market based on predefined taxonomy.

  • Innovative manufacturing processes implemented by Metal Magnesium vendors in detail.

  • Region-wise and country-wise fragmentation of the Metal Magnesium market to grasp the revenue, and growth outlook in these areas.

  • Changing preferences among consumers across various regions and countries.

  • Factors (Positive and Negative) impacting the growth of the global Metal Magnesium market.

  • Metal Magnesium price, market share, and Trends forecast for assessment period 2022-2032

Key Segments Covered in the Metal Magnesium Industry Survey

·         By Application

  • Iron & Steel Making

    • Titanium Reduction

    • Aluminum Alloys

    • Die Casting

What makes this Research different from others?

  • COVID- Impact analysis- The report includes details of the impact of the pandemic on the Metal Magnesium market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Metal Magnesium companies.

  • Industrial trend analysis- The research covers recent trends in the field of Metal Magnesium which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.

  • Metal Magnesium Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.

Competitive Landscape

The Metal Magnesium industry is dominated by some prominent players including

  • Nippon Kinzoku Co. Ltd.

  • VSMPO-Avisma Corporation

  • Latrobe Magnesium

  • Alliance Magnesium

  • Shanghai Sunglow Investment (Group) Co. Ltd.

  • Western Magnesium Corporation

  • Regal Metal

  • U.S Magnesium LLC

  • Esan Eczacibasi

  • Solikamsk Desulphurizer Works (SZD)

The competition in the sector is driven by key parameters such as product price, targeted customer base, and strategic marketing. Major players in the market focused on the Metal Magnesium market innovation by investing more in research and development. Furthermore, the industry players are focusing on the extensive usage of online distribution channels for enhanced cost-effectiveness. The sustainability in the supply chain is a decisive factor for Metal Magnesium brands leading to an impact on the margin profits of firms.

Report Benefits & Key Questions Answered

  • Metal Magnesium Company & brand share analysis: Company and brand share analysis on Metal Magnesium reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players

  • Metal Magnesium Historical volume analysis: The industry analysis provides data & insights on historical volume sales of Metal Magnesium

  • Metal Magnesium Category & segment level analysis: Fact.MR’s Metal Magnesium sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.

  • Metal Magnesium Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers

  • Post COVID consumer spending on Metal Magnesium: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior

  • Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments