Global Magnesium Metal Market Size, Trends, By Application (Die-casting, Aluminum Alloys, Titanium Reduction, Steel Desulfurization, Nodular Cast Iron, and Others), By End-use Industry (Automotive, Aerospace & Defense, Electronics, Construction, Medical, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Magnesium Metal Market
Global Magnesium Metal Market was valued at US$ 4.52 Bn in 2022, estimated to reach US$ 7.89 Bn by 2030, with a CAGR of 5.61% from 2023-2030.
Magnesium metal is a versatile and lightweight metal that is widely used across various industries, including automotive, aerospace, electronics, construction, and healthcare. Known for its excellent strength-to-weight ratio, high thermal and electrical conductivity, and resistance to corrosion, magnesium metal is in high demand worldwide.
Market Drivers
The global market for magnesium metal is being driven by the increasing demand from the automotive industry for lightweight materials to improve fuel efficiency and reduce emissions. Magnesium metal is a lightweight and strong material that can replace heavier metals in automobiles, making them more fuel-efficient.
Another key driver is the growing use of magnesium alloys in various industries such as aerospace, electronics, and healthcare. Additionally, the increasing demand for magnesium-based products in emerging economies, such as China and India, due to their rapid industrialization and infrastructure development, is also contributing to the growth of the global magnesium metal market.
Market Restraints
The growth of the global magnesium metal market may be hindered by the high cost of production. The extraction of magnesium from its ores requires a significant amount of energy, and the production process involves several steps, including electrolysis, which can be expensive.
Additionally, the transportation and storage of magnesium can also be costly due to its high reactivity and flammability. Another challenge is the limited availability of magnesium resources, as it is not as abundant as other metals like aluminum or iron. This scarcity can result in price fluctuations, making it difficult for companies to predict and plan for production costs.
Market Segmentation
The scope of the global magnesium metal market covers segmentation based on application, end-use industry, and region.
Based on application, the market is segmented into die-casting, aluminum alloys, titanium reduction, steel desulfurization, nodular cast iron, and others. Further, the market is segmented into end-use industries, such as automotive, aerospace & defense, electronics, construction, medical, and others.
Regional Analysis
The global magnesium metal market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The Asia Pacific region is expected to witness the fastest growth in the magnesium metal market, primarily due to the increasing demand from various end-use industries, such as automotive, aerospace, and construction. The growth in the region can also be attributed to rising industrialization and urbanization, especially in emerging economies like India and China. Additionally, the shift towards lightweight vehicles and the increasing use of magnesium alloys in the automotive industry is expected to drive the demand for magnesium in the region.
Key Players
Posco, U.S. Magnesium LLC, China Magnesium Corporation Limited, Alliance Magnesium, Solikamsk Magnesium Works OAO, Wenxi YinGuang Magnesium Industry (Group) Co Ltd, Magnesium Elektron Ltd, Dead Sea Magnesium Ltd, Meridian Lightweight Technologies Inc, Magontec GmbH, Latrobe Magnesium, etc.
Market Taxonomy
By Application
• Die-casting
• Aluminum Alloys
• Titanium Reduction
• Steel Desulfurization
• Nodular Cast Iron
• Others
By End-use Industry
• Automotive
• Aerospace & Defense
• Electronics
• Construction
• Medical
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the key opportunities in Global Magnesium Metal Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the market?
• What is the competitive landscape in the industry?
• What is the role of key players in the value chain?
Global Magnesium Metal Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Magnesium Metal Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Magnesium Metal Market, By Application
5.1 Y-o-Y Growth Comparison, By Application
5.2 Global Magnesium Metal Market Share Analysis, By Application
5.3 Global Magnesium Metal Market Size and Forecast, By Application
5.3.1 Die-casting
5.3.2 Aluminum Alloys
5.3.3 Titanium Reduction
5.3.4 Steel Desulfurization
5.3.5 Nodular Cast Iron
5.3.6 Others
6 Global Magnesium Metal Market, By End-use Industry
6.1 Y-o-Y Growth Comparison, By End-use Industry
6.2 Global Magnesium Metal Market Share Analysis, By End-use Industry
6.3 Global Magnesium Metal Market Size and Forecast, By End-use Industry
6.3.1 Automotive
6.3.2 Aerospace & Defense
6.3.3 Electronics
6.3.4 Construction
6.3.5 Medical
6.3.6 Others
7 Global Magnesium Metal Market, By Region
7.1 Global Magnesium Metal Market Share Analysis, By Region
7.2 Global Magnesium Metal Market Size and Forecast, By Region
7.3 Global Magnesium Metal Market Trends and Forecast, By Region
8 North America Magnesium Metal Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Magnesium Metal Market Share Analysis, By Application
8.3 North America Magnesium Metal Market Size and Forecast, By End-use Industry
8.4 North America Magnesium Metal Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Application
8.4.1.2 Market Size and Forecast, By End-use Industry
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Application
8.4.2.2 Market Size and Forecast, By End-use Industry
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Application
8.4.3.2 Market Size and Forecast, By End-use Industry
9 Europe Magnesium Metal Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Magnesium Metal Market Share Analysis, By Application
9.3 Europe Magnesium Metal Market Size and Forecast, By End-use Industry
9.4 Europe Magnesium Metal Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Application
9.4.1.2 Market Size and Forecast, By End-use Industry
9.4.2 France
9.4.2.1 Market Size and Forecast, By Application
9.4.2.2 Market Size and Forecast, By End-use Industry
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Application
9.4.3.2 Market Size and Forecast, By End-use Industry
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Application
9.4.4.2 Market Size and Forecast, By End-use Industry
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Application
9.4.5.2 Market Size and Forecast, By End-use Industry
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Application
9.4.6.2 Market Size and Forecast, By End-use Industry
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Application
9.4.7.2 Market Size and Forecast, By End-use Industry
10 Asia Pacific Magnesium Metal Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Magnesium Metal Market Share Analysis, By Application
10.3 Asia Pacific Magnesium Metal Market Size and Forecast, By End-use Industry
10.4 Asia Pacific Magnesium Metal Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Application
10.4.1.2 Market Size and Forecast, By End-use Industry
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Application
10.4.2.2 Market Size and Forecast, By End-use Industry
10.4.3 India
10.4.3.1 Market Size and Forecast, By Application
10.4.3.2 Market Size and Forecast, By End-use Industry
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Application
10.4.4.2 Market Size and Forecast, By End-use Industry
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Application
10.4.5.2 Market Size and Forecast, By End-use Industry
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Application
10.4.6.2 Market Size and Forecast, By End-use Industry
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Application
10.4.7.2 Market Size and Forecast, By End-use Industry
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Application
10.4.8.2 Market Size and Forecast, By End-use Industry
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Application
10.4.9.2 Market Size and Forecast, By End-use Industry
11 Latin America Magnesium Metal Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Magnesium Metal Market Share Analysis, By Application
11.3 Latin America Magnesium Metal Market Size and Forecast, By End-use Industry
11.4 Latin America Magnesium Metal Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Application
11.4.1.2 Market Size and Forecast, By End-use Industry
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Application
11.4.2.2 Market Size and Forecast, By End-use Industry
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Application
11.4.3.2 Market Size and Forecast, By End-use Industry
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Application
11.4.4.2 Market Size and Forecast, By End-use Industry
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Application
11.4.5.2 Market Size and Forecast, By End-use Industry
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Application
11.4.6.2 Market Size and Forecast, By End-use Industry
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Application
11.4.7.2 Market Size and Forecast, By End-use Industry
12 Middle East Magnesium Metal Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Magnesium Metal Market Share Analysis, By Application
12.3 Middle East Magnesium Metal Market Size and Forecast, By End-use Industry
12.4 Middle East Magnesium Metal Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Application
12.4.1.2 Market Size and Forecast, By End-use Industry
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Application
12.4.2.2 Market Size and Forecast, By End-use Industry
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Application
12.4.3.2 Market Size and Forecast, By End-use Industry
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Application
12.4.4.2 Market Size and Forecast, By End-use Industry
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Application
12.4.5.2 Market Size and Forecast, By End-use Industry
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Application
12.4.6.2 Market Size and Forecast, By End-use Industry
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Posco
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 U.S. Magnesium LLC
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 China Magnesium Corporation Limited
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Alliance Magnesium
14.4.1 Overview
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Solikamsk Magnesium Works OAO
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Wenxi YinGuang Magnesium Industry (Group) Co Ltd
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Magnesium Elektron Ltd
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Dead Sea Magnesium Ltd
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Meridian Lightweight Technologies Inc
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Magontec GmbH
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
14.11 Latrobe Magnesium
14.11.1 Overview
14.11.2 Offerings
14.11.3 Key Financials
14.11.4 Business Segment & Geographic Overview
14.11.5 Key Market Developments
14.11.6 Key Strategies
