Growing Demand for Die Casting and Aluminium Alloy Products Is Expected To Fuel Metal Magnesium Market

250 Pages Metal Magnesium Survey by Fact MR, A Leading Business and Competitive Intelligence Provider

Latest industry survey by Fact MR, predicts Metal Magnesium sales to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.

The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.

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The report offers actionable and valuable market insights of Metal Magnesium. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Metal Magnesium across various industries and regions.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Metal Magnesium. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Metal Magnesium

This newly published and insightful report sheds light on Market Insights of Metal Magnesium , key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Metal Magnesium .

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AttributesDetails
Estimated value of the Metal Magnesium Market in 2021US$ 4.35 Bn
Projected value of the Metal Magnesium Market in 2022US$ 4.58 Bn
Projected value of the Metal Magnesium Market in 2032US$ 7.6 Bn
CAGR during the forecast period, 2022-20325.2%
Market Share of APAC during 202245.5%
Market Share of Die-Casting Segment in 202237%
Key Manufacturers of Metal MagnesiumNippon Kinzoku Co. Ltd.VSMPO-Avisma CorporationLatrobe MagnesiumAlliance MagnesiumShanghai Sunglow Investment (Group) Co. Ltd.Western Magnesium CorporationRegal MetalU.S Magnesium LLCEsan EczacibasiSolikamsk Desulphurizer Works (SZD)

The market is expected to grow during the forecast period, reaching a global market size of US$ 4.58 Bn by the end of 2022.  It is anticipated that market growth will be driven by the rising demand for die casting and aluminum alloy products across numerous end-use industries. These applications are ideally suited to magnesium, which has superior electromagnetic screening properties and excellent heat conductivity.

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The metal magnesium market revenues were estimated at US$ 4.35 Bn in 2021 and is anticipated to grow at a CAGR of 5.2% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 7.6 Bn.

As a result of the COVID-19 outbreak, all raw material mining and supply chains ceased completely. This led to many industries such as automotive, aircraft, building and metal processing facing difficulties to sustain their operations. A sudden closure of the production units also reduced production output.  Compared with 2019, all the top automotive producing countries, including the United States, China, India, Germany, Mexico, and Japan saw a decrease in production by 19%, 2%, 24%, 21%, and 17%, respectively.

Market growth is expected to be fueled by the growing demand for die casting and aluminum alloy products across numerous end-use industries. The magnesium metal market is expected to grow due to the aerospace, chemical, medical, and healthcare industries. The APAC regions can be projected to be the most lucrative region in this market during the forecast period, 2022- 2032.

Key Takeaways from the Market Study

  • Global metal magnesium market is expected to reach a market size of US$ 4.58 Bn by 2022.
  • In 2022, Asia Pacific to contribute more than 45.5% market revenue.
  • Die casting applications to account for 37% of the market revenue in 2022
  • Aluminium alloy segment to be over US$ 180 Mn, growing a CAGR of over 5%
  • North America to experience a CAGR of 8% across the 2022-2032 forecast period

Extensive development of the aerospace industry has prompted prominent metal magnesium manufacturers to launch highly robust and durable components, aimed at increasing aircraft lifespan, providing renewed growth opportunities, comments a Fact.MR analyst.

Competitive Landscape

A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.

  • Nanjing Yunhai Special Metals Co., Ltd completed the acquisition of Tianjin Liuhe Magnesium in January 2021 to expand its presence from North China to South China. This company produces magnesium parts for autos and bicycles with an annual output of 8,000 tons.
  • In 2017, Meridian Lightweight Technologies, Plymouth, Mich., announced a partnership with Birmingham City University, England, demonstrating magnesium’s potential as a lightweight alternative for the car and aerospace industries.
  • In 2018, the company Allite Inc. released Super magnesium, a metal with a range of possible uses, such as medical, sports, aerospace, automotive, and more.

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Report Benefits & Key Questions Answered

  • Metal Magnesium Company & brand share analysis: The report offers brand-share analysis on Metal Magnesium  to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
  • Metal Magnesium Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
  • Metal Magnesium Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
  • Metal Magnesium Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
  • Metal Magnesium Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
  • Post COVID consumer spending on Metal Magnesium : The survey offers a chapter dedicated to analyzing post COVID consumer behavior. Changes in their spending pattern are carefully analyzed to offer insights into potential impact on Metal Magnesium

More Valuable Insights on Metal Magnesium

Fact.MR, in its new report, offers an unbiased Market Analysis of Metal Magnesium , Sales and Demand of Metal Magnesium , analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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