Dublin, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The "Magnesium Alloys: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Magnesium Alloys estimated at US$1.8 Billion in the year 2022, is projected to reach a revised size of US$4.1 Billion by 2030, growing at a CAGR of 10.7% over the analysis period 2022-2030.
Cast Alloys, one of the segments analyzed in the report, is projected to record 11% CAGR and reach US$2.6 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Wrought Alloys segment is readjusted to a revised 10.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $494.6 Million, While China is Forecast to Grow at 14.8% CAGR
The Magnesium Alloys market in the U.S. is estimated at US$494.6 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$922.6 Million by the year 2030 trailing a CAGR of 14.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.8% and 8.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR.
Select Competitors (Total 44 Featured) -
- Dead sea Magnesium Ltd.
- Dynacast International, Inc.
- Ka Shui International Holdings Ltd.
- Magnesium Elektron Ltd.
- MAGONTEC Limited
- Meridian Lightweight Technologies Inc.
- Nanjing Yunhai Special Metals Co. Ltd.
- POSCO
- Rima Group
- Smiths Advanced Metals
- Spartan Light Metal Products
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Report Metrics
| Report Attribute | Details |
| No. of Pages | 193 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.8 Billion |
| Forecasted Market Value (USD) by 2030 | $4.1 Billion |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Surge in Production of Light Weight Components and Advantages of Magnesium Alloys over Other Alloys Drives Demand
- Magnesium Alloys - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Preference for Light-Weight Components from Aerospace & Defense Sector Drives Huge Demand for Magnesium Alloys
- Growing Use of Magnesium Alloys in Automotive Industry to Enhance Fuel Efficiency and Control Emissions Bode Well for the Magnesium Alloys Market
- Global Production of Passenger Cars in Million Units for the Years 2010, 2014, 2018 and 2022
- Global Production of Light Vehicles: Breakdown of Number of Units by Region for the Years 2018, 2020, 2022 and 2024
- Growing Market for Electric Vehicles and Passenger Cars Supports the Demand for Nanostructured Mg Alloys
- Production of Electric Vehicles Worldwide: Breakdown of Number of Units in Million for the Years 2018, 2020, 2025 and 2030
- Increasing Demand for Biodegradable Metals in Medical Sector Propels Demand for Mg Alloys
- Development of New Processes Such as Thixomolding and New Rheocasting Support Growth of Mg Alloys
- Emerging Applications of Mg Alloys in Electronics Market Boosts Demand
- Innovations and Advancements
- Allite Introduces Super Magnesium Alloy for Humble Bicyle
- Xiaomi Launches Smart Suitcase With Aluminium-Magnesium Alloy Body
- Xiaomi Releases a Notebook With Magnesium-Lithium Chassis
- LG to Use Magnesium Alloy Sheets of POSCO in its Ultra-Light Gram
- Samsung Uses Metal 12 Magnesium Alloy in Phones and Watches
- Acer Launches TravelMate P6 Series Notebook Made Using Magnesium-Aluminium Alloy Chassis
- Product Overview
- Introduction to Magnesium Alloys
- Types of Magnesium Alloys
- Cast Alloys
- Wrought Alloys
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/2goze5-alloys?w=12
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