Magnesium Alloys Market - Global Industry Analysis

Name: Magnesium Alloys Market by Alloy Type (Cast and Wrought) and by End-Use Industry (Automotive & Transportation, Electronic, Aerospace & Defense, and Power Tools): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026
Brand: Zion Market Research
SKU: ZMR-4197
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Magnesium Alloys Market by Alloy Type (Cast and Wrought) and by End-Use Industry (Automotive & Transportation, Electronic, Aerospace & Defense, and Power Tools): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026

Published Date: 10-Jun-2019 Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-4197 Status : Published

Global magnesium alloys market expected to generate around USD 3.38 billion by 2026, at a CAGR of around 12.7% between 2019 and 2026. Magnesium is excessively available around the world. Magnesium is found primarily beneath the surface of the ocean beds in various forms.

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Description

The report covers a forecast and an analysis of the magnesium market on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on both volume (Kilotons) and revenue (USD Billion). The study includes drivers and restraints of the global magnesium alloys market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the global magnesium alloys market on a global level.

In order to give the users of this report a comprehensive view of the global magnesium alloys market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Global Magnesium Alloys Market

The study provides a decisive view of the global magnesium alloys market by segmenting it based on alloy type, end-use industry, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2026. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Some key players of the global magnesium alloys market are Magnesium Elektron, Nanjing Yunhai Special Metals, Ka Shui International, US Magnesium, Meridian Lightweight Technologies, Shanghai Regal Magnesium, Magontec, Shanxi Credit Magnesium, Shanxi Yinguang Huasheng Magnesium, and AMACOR.

This report segments the global magnesium alloys market:

Global Magnesium Alloys Market: By Alloy Type

Cast
Wrought

Global Magnesium Alloys Market: By End-Use Industry

Automotive and Transportation
Electronic
Aerospace and Defense
Power Tools

Global Magnesium Alloys Market: By Region

North America
- The U.S.
Europe
- UK
- France
- Germany
Asia Pacific
- China
- Japan
- India
Latin America
- Brazil
Middle East and Africa

Table Of Content

Chapter 1. Introduction
- 1.1. Report description
  - 1.1.1. Objective
  - 1.1.2. Target Audience
  - 1.1.3. Unique Selling Proposition (USP) & Offerings
- 1.2. Research scope
- 1.3. Market Research Methodology
  - 1.3.1. Level 1: Primary Research
  - 1.3.2. Level 2: Secondary Research
  - 1.3.3. Level 3: Data Validation and Expert Panel Assessment
Chapter 2. Executive Summary
- 2.1. Global Magnesium Alloys market, 2016-2026 (USD Billion) (Kilotons)
- 2.2. Global Magnesium Alloys market: Snapshot
Chapter 3. Global Magnesium Alloys Market - Industry Dynamics
- 3.1. Introduction
  - 3.1.1. Classification of Magnesium Alloys
  - 3.1.2. Key trend analysis
- 3.2. Market Drivers
  - 3.2.1. The increasing use of magnesium alloys in the automotive industry
  - 3.2.2. Rising demand for new eco-friendly materials
  - 3.2.3. Advantages of magnesium alloys over other alloys
- 3.3. Market Restraints
  - 3.3.1. Uncertainty regarding the magnesium prices
  - 3.3.2. Issues related to welding capability and corrosion resistivity
- 3.4. Opportunities
  - 3.4.1. Technological advancements in the aerospace and defense sector
  - 3.4.2. The abundance of magnesium metal
  - 3.4.3. Growing Market for Electric Vehicles
- 3.5. Porter's Five Forces Analysis
- 3.6. Attractiveness Investment Proposition
  - 3.6.1. Market attractiveness analysis by Alloy Type
  - 3.6.2. Market attractiveness analysis by End-Use Industry
  - 3.6.3. Market attractiveness analysis by Region
  - 3.6.4. Global Magnesium Alloys Market Country Ranking by Market Size, 2018
  - 3.6.5. Global Magnesium Alloys Market Country Ranking by CAGR, 2019-2026
Chapter 4. Global Magnesium Alloys Market - Competitive Landscape
- 4.1. Company market share analysis, 2018 (subject to data availability)
- 4.2. Strategic Development
  - 4.2.1. Acquisitions & Mergers
  - 4.2.2. New Products Launch
  - 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures, Key Growth Strategies
- 4.3. Research and Development, Products and Regional Expansion
- 4.4. List of Emerging Companies
Chapter 5. Global Magnesium Alloys Market - Marketing Strategy Analysis
- 5.1. Marketing Channels
- 5.2. Pricing Analysis
- 5.3. Target Client
- 5.4. Consumer Preference Trends
- 5.5. PESTEL Analysis
- 5.6. SWOT Analysis
Chapter 6. Global Magnesium Alloys Market - Alloy Type Analysis
- 6.1. Global magnesium alloys market: Alloy Type analysis
  - 6.1.1. Global magnesium alloys market share by Alloy type, 2018 and 2026
- 6.2. Cast Alloys
  - 6.2.1. Overview
  - 6.2.2. Global cast alloys market, 2016-2026 (USD Billion) (Kilotons)
- 6.3. Wrought Alloys
  - 6.3.1. Overview
  - 6.3.2. Global wrought alloys market, 2016-2026 (USD Billion) (Kilotons)
Chapter 7. Global Magnesium Alloys Market - End-Use Industry Analysis
- 7.1. Global magnesium alloys market: End-use Industry Overview
  - 7.1.1. Global Magnesium Alloys Market Share, by End-use, 2018 and 2026
- 7.2. Automotive and Transportation
  - 7.2.1. Global magnesium alloys market for automotive & transportation, 2016-2026 (USD Billion) (Kilotons)
- 7.3. Electronics
  - 7.3.1. Global magnesium alloys market for electronics, 2016-2026 (USD Billion) (Kilotons)
- 7.4. Aerospace & Defense
  - 7.4.1. Global magnesium alloys market for aerospace & defense, 2016-2026 (USD Billion) (Kilotons)
- 7.5. Power tools
  - 7.5.1. Global magnesium alloys market for power tools, 2016-2026 (USD Billion) (Kilotons)
Chapter 8. Global Magnesium Alloys market: Regional Analysis
- 8.1. Global magnesium alloys market: Regional overview
  - 8.1.1. Global magnesium alloys market share by region, 2018 and 2026
- 8.2. North America
  - 8.2.1. Overview
    - 8.2.1.1. North America global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.2.1.2. North America global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.2.1.3. North America global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.2.1.4. North America global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.2.2. The U.S.
    - 8.2.2.1. The U.S. global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.2.2.2. The U.S. global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.2.2.3. The U.S. global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.2.2.4. The U.S. global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.2.3. Canada
    - 8.2.3.1. Canada global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.2.3.2. Canada global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.2.3.3. Canada global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.2.3.4. Canada global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
- 8.3. Europe
  - 8.3.1. Overview
    - 8.3.1.1. Europe global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.3.1.2. Europe global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.3.1.3. Europe global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.3.1.4. Europe global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.3.2. Germany
    - 8.3.2.1. Germany global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.3.2.2. Germany global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.3.2.3. Germany global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.3.2.4. Germany global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.3.3. UK
    - 8.3.3.1. UK global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.3.3.2. UK global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.3.3.3. UK global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.3.3.4. UK global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.3.4. France
    - 8.3.4.1. France global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.3.4.2. France global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.3.4.3. France global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.3.4.4. France global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.3.5. Rest of Europe
    - 8.3.5.1. Rest of Europe global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.3.5.2. Rest of Europe global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.3.5.3. Rest of Europe global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.3.5.4. Rest of Europe global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
- 8.4. Asia Pacific
  - 8.4.1. Overview
    - 8.4.1.1. Asia Pacific global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.4.1.2. Asia Pacific global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.4.1.3. Asia Pacific global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.4.1.4. Asia Pacific global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.4.2. China
    - 8.4.2.1. China global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.4.2.2. China global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.4.2.3. China global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.4.2.4. China global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.4.3. Japan
    - 8.4.3.1. Japan global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.4.3.2. Japan global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.4.3.3. Japan global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.4.3.4. Japan global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.4.4. India
    - 8.4.4.1. India global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.4.4.2. India global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.4.4.3. India global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.4.4.4. India global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.4.5. Rest of Asia Pacific
    - 8.4.5.1. Rest of Asia Pacific global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.4.5.2. Rest of Asia Pacific global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.4.5.3. Rest of Asia Pacific global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.4.5.4. Rest of Asia Pacific global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
- 8.5. Latin America
  - 8.5.1. Overview
    - 8.5.1.1. Latin America global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.5.1.2. Latin America global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.5.1.3. Latin America global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.5.1.4. Latin America global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.5.2. Brazil
    - 8.5.2.1. Brazil global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.5.2.2. Brazil global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.5.2.3. Brazil global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.5.2.4. Brazil global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
  - 8.5.3. Rest of Latin America
    - 8.5.3.1. Rest of Latin America global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.5.3.2. Rest of Latin America global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.5.3.3. Rest of Latin America global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.5.3.4. Rest of Latin America global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
- 8.6. The Middle East and Africa
  - 8.6.1. Overview
    - 8.6.1.1. The Middle East and Africa global magnesium alloys market revenue, by Alloy type, 2016-2026 (USD Billion)
    - 8.6.1.2. The Middle East and Africa global magnesium alloys market volume, by Alloy type, 2016-2026 (Kilotons)
    - 8.6.1.3. The Middle East and Africa global magnesium alloys market revenue, by end-use industry, 2016-2026 (USD Billion)
    - 8.6.1.4. The Middle East and Africa global magnesium alloys market volume, by end-use industry, 2016-2026 (Kilotons)
Chapter 9. Company Profile
- 9.1. Magnesium Elektron
  - 9.1.1. Overview
  - 9.1.2. Financials
  - 9.1.3. Product portfolio
  - 9.1.4. Business strategy
  - 9.1.5. Recent developments
- 9.2. Nanjing Yunhai Special Metals
  - 9.2.1. Overview
  - 9.2.2. Financials
  - 9.2.3. Product portfolio
  - 9.2.4. Business strategy
  - 9.2.5. Recent developments
- 9.3. Ka Shui International
  - 9.3.1. Overview
  - 9.3.2. Financials
  - 9.3.3. Product portfolio
  - 9.3.4. Business strategy
  - 9.3.5. Recent developments
- 9.4. US Magnesium
  - 9.4.1. Overview
  - 9.4.2. Financials
  - 9.4.3. Product portfolio
  - 9.4.4. Business strategy
  - 9.4.5. Recent developments
- 9.5. Meridian Lightweight Technologies
  - 9.5.1. Overview
  - 9.5.2. Financials
  - 9.5.3. Product portfolio
  - 9.5.4. Business strategy
  - 9.5.5. Recent developments
- 9.6. Shanghai Regal Magnesium
  - 9.6.1. Overview
  - 9.6.2. Financials
  - 9.6.3. Product portfolio
  - 9.6.4. Business strategy
  - 9.6.5. Recent developments
- 9.7. Magontec
  - 9.7.1. Overview
  - 9.7.2. Financials
  - 9.7.3. Product portfolio
  - 9.7.4. Business strategy
  - 9.7.5. Recent developments
- 9.8. Shanxi Credit Magnesium
  - 9.8.1. Overview
  - 9.8.2. Financials
  - 9.8.3. Product portfolio
  - 9.8.4. Business strategy
  - 9.8.5. Recent developments
- 9.9. Shanxi Yinguang Huasheng Magnesium
  - 9.9.1. Overview
  - 9.9.2. Financials
  - 9.9.3. Product portfolio
  - 9.9.4. Business strategy
  - 9.9.5. Recent developments
- 9.10. AMACOR
  - 9.10.1. Overview
  - 9.10.2. Financials
  - 9.10.3. Product portfolio
  - 9.10.4. Business strategy
  - 9.10.5. Recent developments

Table Of Figures

List of Figures

1. Market research process
2. Market methodology
3. Global magnesium alloys market revenue, 2016–2026 (USD Billion) (Kilotons)
4. Porter’s Five Forces Analysis
5. Magnesium alloys market attractiveness analysis, by alloy type
6. Magnesium alloys market attractiveness analysis, by end-use industry
7. Magnesium alloys market attractiveness analysis, by region
8. Company market share analysis, 2018
9. Global magnesium alloys market share by alloy type, 2018 and 2026
10. Global magnesium alloys market for cast, 2016–2026 (USD Billion) (Kilotons)
11. Global magnesium alloys market for wrought, 2016–2026 (USD Billion) (Kilotons)
12. Global magnesium alloys market share by end-use industry, 2018 and 2026
13. Global magnesium alloys market for automotive & transportation, 2016–2026 (USD Billion) (Kilotons)
14. Global magnesium alloys market for electronic, 2016–2026 (USD Billion) (Kilotons)
15. Global magnesium alloys market for aerospace & defense, 2016–2026 (USD Billion) (Kilotons)
16. Global magnesium alloys market for power tools, 2016–2026 (USD Billion) (Kilotons)
17. Global magnesium alloys market share by region, 2018 and 2026
18. North America magnesium alloys market, 2016–2026 (USD Billion) (Kilotons)
19. Europe magnesium alloys market, 2016–2026 (USD Billion) (Kilotons)
20. Asia Pacific magnesium alloys market, 2016–2026 (USD Billion) (Kilotons)
21. Latin America magnesium alloys market, 2016–2026 (USD Billion) (Kilotons)
22. The Middle East and Africa magnesium alloys market, 2016–2026 (USD Billion) (Kilotons)

Table Of Tables

List of Tables

1. Magnesium alloys market: Market Snapshot
2. Drivers of the global magnesium alloys market: impact analysis
3. Restraints of the global magnesium alloys market: impact analysis
4. North America magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
5. North America magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
6. The U.S. magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
7. The U.S. magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
8. Canada magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
9. Canada magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
10. Europe magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
11. Europe magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
12. U.K. magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
13. U.K. magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
14. Germany magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
15. Germany magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
16. France magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
17. France magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
18. Rest of Europe magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
19. Rest of Europe magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
20. Asia Pacific magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
21. Asia Pacific magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
22. China magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
23. China magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
24. Japan magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
25. Japan magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
26. India magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
27. India magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
28. Rest of Asia Pacific magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
29. Rest of Asia Pacific magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
30. Latin America magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
31. Latin America magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
32. Brazil magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
33. Brazil magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
34. Rest of Latin America magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
35. Rest of Latin America magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)
36. The Middle East and Africa magnesium alloys market, by alloy type, 2016–2026 (USD Billion) (Kilotons)
37. The Middle East and Africa magnesium alloys market, by end-use industry, 2016–2026 (USD Billion) (Kilotons)

Methodology

Free Analysis

Magnesium is found primarily beneath the surface of the ocean beds in various forms. Magnesium is abundantly available across the world. Alloys are a mixture of metals that are a better alternative to iron, as they are lighter and stronger. Alloys of magnesium have better heat resistance, more tensile strength, and high corrosion resistance. Due to these favorable properties, magnesium is used widely in the automotive and transportation industry. In the automotive industry, magnesium alloys are mostly used for increasing the fuel efficiency and battery range of vehicles and meeting various emission regulations. Magnesium is also widely used in various electronics, due to its corrosion resistance properties and lightweight. These are some factor fuelling the global magnesium alloys market development. However, less price certainty of magnesium has been a restraint for the global magnesium alloys market over the years. There has been a lot of development to find new applications of magnesium alloys, which is expected that magnesium alloys will be extensively used in electric vehicles in the future as well. This is likely to further fuel the magnesium alloys market globally in the years ahead. Magnesium alloys are also used in the aerospace and defense sector, due to its high tensile strength.

On the basis of alloy type, the magnesium alloys market includes cast and wrought alloys. Cast alloys are expected to hold the maximum market share, both in terms of volume and value, throughout the estimated timeline. Magnesium has excellent casting abilities and casting alloys are cheaper than wrought alloys. There is a growing casting alloy demand, due to its cost benefits, in automotive and transportation, aerospace and defense and electronics industries. Based on end-use industry, the magnesium alloys market includes aerospace and defense, automotive and transportation, electronics, and power tools. The aerospace and defense sector is estimated to hold a substantial market share in terms of both value and volume throughout the forecast time period, owing to the high demand for magnesium alloys for constructing body structures and parts for engines.

Global Magnesium Alloys Market

Geographically, Asia Pacific is estimated to have maximum market share in terms of both value and volume throughout the forecast time period of the global magnesium alloys market. This regional dominance can be attributed to the presence of several electronics and automobile component manufacturers in China and South Korea and the increasing demand for smartphones by the regional population.