Global Magnesium Alloys Strategic Market Report 2023: Featuring POSCO, Rima Group, Smiths Advanced Metals and Spartan Light Metal Products Among Others


Dublin, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The "Magnesium Alloys: Global Strategic Business Report" report has been added to'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.
  • 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 AttributeDetails
No. of Pages193
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$1.8 Billion
Forecasted Market Value (USD) by 2030$4.1 Billion
Compound Annual Growth Rate10.8%
Regions CoveredGlobal

Key Topics Covered:




  • 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



  • 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




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Global Market for Magnesium Alloys