Metal Magnesium Market (By Application: Die Casting, Aluminum Alloys, Titanium Reduction, Iron & Steel Making) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

The global metal magnesium market size was valued at USD 4.39 billion in 2021, and is predicted to be worth around USD 6.98 billion by 2030, registering a CAGR of 5.4% during the forecast period 2022 to 2030.

Growth Factors:

Rising demand for lightweight parts mainly in the automotive and aerospace industries is anticipated to contribute to the market growth over the forecast period. Magnesium is a grey-white lightweight metal, which has the lowest melting point and lowest boiling point of all alkali earth metals. It is the third-most commonly used structural metal, after iron and aluminum. Its main applications are in aluminum alloys, die-casting, removal of sulfur in the iron and steel production process, and titanium production.

The growing demand from die casting and aluminum alloy application segments is anticipated to drive the market growth forward. Diecast components and aluminum alloys that use magnesium are primarily utilized across the automotive, aerospace, and marine industries. In terms of volume, these two application segments jointly accounted for a considerable market share in 2021.

Asia Pacific held the largest revenue share in 2021 and this trend is anticipated to continue over the forecast period. The growing demand for titanium alloys from the aerospace industry is expected to drive titanium production over the forecast period. This, in turn, is expected to generate a proportional demand for magnesium in titanium production over the coming years.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Metal Magnesium market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

By Application Analysis

The die casting application segment accounted for the maximum revenue share of more than 37.5% in 2021. The trend is expected to continue with the segment registering the fastest CAGR over the forecast period. Magnesium is used as an ideal material in die casting applications owing to its good heat conductivity and electromagnetic screening property. 

Increasing demand for lightweight materials in aircraft production for reducing the weight of commercial aircraft is expected to drive the segment growth. Titanium and its alloys are widely used in multiple applications due to their excellent strength, good chemical stability, and low density. Titanium is majorly used in spacecraft, aircraft, and missiles and is increasingly being used in the medical field as well. 

Magnesium is an important reagent in the production of iron and steel making as it is used for removing excessive sulfur from hot metal, which is a necessary step for creating high-quality steel. In addition, magnesium alloys have several applications, such as in the production of aircraft, spacecraft, machinery, automobiles, portable tools, and household appliances, and these are also being used in steering columns, gearboxes, seat frames, steering wheels, and in other automotive machinery.

By Regional Analysis

Asia Pacific accounted for the largest revenue share of more than 45.0% in 2021 and is estimated to expand further at the fastest CAGR from 2022 to 2030. Increasing consumption of aluminum and steel from the end-use industries, such as electric vehicles (EVs) and construction, are the key factors driving the APAC regional market growth.

The rising demand from the automotive and aerospace industries in China and India is expected to support the market growth in this region. Moreover, the demand from the steel industry in India and Japan will facilitate the overall market growth. North America accounted for the second-largest revenue share of the global market in 2021.

The market in the North America region is anticipated to witness steady growth over the coming years. This is mainly attributed to the rising demand for aluminum and titanium alloys from the automotive and aerospace & defense industries. 

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Metal Magnesium Market include:

• Alliance Magnesium
• Esan Eczacibasi
• Latrobe Magnesium
• Nippon Kinzoku Co. Ltd.
• Regal Metal
• Shanghai Sunglow Investment (Group) Co., Ltd.
• SolikamskDesulphurizer Works (SZD)
• U.S. Magnesium LLC
• VSMPO-Avisma Corp.
• Western Magnesium Corp.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Market Segmentation

• By Application 
• Die Casting
• Aluminum Alloys
• Titanium Reduction
• Iron & Steel Making
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Metal Magnesium market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Metal Magnesium market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Metal Magnesium markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Metal Magnesium Market Study:

• Growth of Metal Magnesium in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Metal Magnesium and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Metal Magnesium Consumption Analysis
•  Metal Magnesium Production Analysis
•  Metal Magnesium and Management