Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 5.88 Billion | USD 10.04 Billion | 5.5% | 2024 |
FrequentlyAsked Questions
Magnesium, with atomic number 12 and chemical symbol Mg is a chemical element, shiny gray solid, and is a part of the 6 alkaline earth metals
The global metal magnesium market is expected to grow due to Increasing demand for lightweight materials in the automotive and aerospace industries for improved fuel efficiency and performance, coupled with the rising use of magnesium in aluminum alloys and die-casting applications, are significant factors driving .
According to a study, the global metal magnesium market size was worth around USD 5.88 Billion in 2024 and is expected to reach USD 10.04 Billion by 2034.
The global metal magnesium market is expected to grow at a CAGR of 5.5% during the forecast period.
Asia-Pacific is expected to dominate the metal magnesium market over the forecast period.
Leading players in the global metal magnesium market include Faci Asia Pacific Pte. Ltd., KLK Oleo, Estelle Chemicals Pvt. Ltd., Evonik Industries, DuPont, Cargill Inc., Arkema S.A., Oleon N.V., Fine Organic Industries, The Seydel Companies Inc., P&G Chemicals, among others.
The report explores crucial aspects of the metal magnesium market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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