Magnesium Alloys Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Magnesium-alloy-based products have the lowest density of most of the engineering materials. The penetration of these products is predicted to increase despite volatility in costs and supply. Recyclability is another crucial characteristic of magnesium, wherein it is likely to recycle approximately 99% of magnesium parts, which is projected to lessen the costs in automotive & transportation applications. Further, magnesium alloys find applications in transmission castings, jet engine fan frames, and missiles.

MARKET DYNAMICS

The market's growth can be attributed to the massive demand for magnesium alloys from the electronics, medical, automotive & transportation, aerospace & defense, and power tools industries. Also, the augmented demand for magnesium alloys for lightweight automotive parts is the other factor anticipated to propel the market growth during the forecast period. However, the uncertainty of magnesium prices and issues related to weldability and corrosion resistance is predicted to be restraints for the development of this market.

MARKET SCOPE

The "Global Magnesium Alloys Market Analysis to 2031" is a specialized and in-depth study of the chemicals & materials industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the magnesium alloys market with detailed market segmentation by application. The global magnesium alloys market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading magnesium alloys market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global magnesium alloys market is segmented into application. By application, the magnesium alloys market is classified into Automotive & Transportation, Aerospace & Défense, Electronics, Others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global magnesium alloys market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The magnesium alloys market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the magnesium alloys market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the magnesium alloys market in these regions.

MARKET PLAYERS

The report covers vital developments in the magnesium alloys market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the magnesium alloys market are anticipated to lucrative growth opportunities in the future with the rising demand for magnesium alloys in the global market. Below mentioned is the list of few companies engaged in the magnesium alloys market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the magnesium alloys market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.

1. Nanjing Yunhai Special Metals Co
2. Magontec Ltd.
3. Globe Specialty Metals
4. Fugu Jinwantong Magnesium Industry Co.
5. Weijie Magnesium Industry Co.
6. Magnesium Elektron
7. Ka Shui International Holdings Ltd.
8. US Magnesium
9. Meridian Lightweight Technologies
10. Shanghai Regal Magnesium Ltd. Co.

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.

Magnesium Alloys Report Scope