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Magnesium Market - Global Industry Expert Opinions Analysis, Emerging Opportunities, Market Size, Share, Growth Drivers, Market Trends, Statistics And Forecast 2015 - 2020

Report Description

The global market for magnesium is highly consolidated in terms of production value, with China being the leader. In 2013, China produced nearly 770,000 tons of magnesium, accounting for more than 85% of the total production value of the entire globe. With a continuous rise in the country’s production value, China is projected to continue its dominance in the world market for magnesium over the next many years. However, the Chinese magnesium industry is suffering from an apparent consolidation – eight Chinese magnesium producers rank amongst the top 10 of the world. Moreover, domestic competition is at paramount level and operating rate is barely more than 50%.

China is not only the world’s topmost producer of magnesium but also the most dominant consumer of the metal. North America, Europe, Russia, and Japan are other major markets for magnesium. Of the key applications of magnesium, the report states that aluminum alloys are the primary takers of magnesium worldwide. Although, recently, die-casting alloys have outpaced the use of aluminum alloys due to their increased use in the automotive industry. Magnesium die-cast alloys also find applications in the manufacturing of housings for laptops, tablets, communication devices, and electronic equipment.

Currently, the packaging industry is a key end-use sector of magnesium-based aluminum alloys, followed by the automotives, construction, and consumer durables industries. Magnesium’s use in titanium metal’s production accounts for the third largest use of magnesium. The use of magnesium in manufacturing of steel accounts for the fourth largest use of the metal, an area which has seen a significant decline over the past few years owing to the recent global economic depression and the resultant decline in steel output in many countries.

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