Metal Magnesium Market Size, Share, Trends, Innovations, Outlook 2022-2030

The global metal magnesium market size was valued at USD 4.35 billion in 2021, and is predicted to be worth around USD 6.97 billion by 2030, registering a CAGR of 5.2% during the forecast period 2022 to 2030.

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Growth Factors

Rising demand for lightweight parts mainly in the automotive and aerospace industries is anticipated to contribute to the market growth over the forecast period. Magnesium is a grey-white lightweight metal, which has the lowest melting point and lowest boiling point of all alkali earth metals. It is the third-most commonly used structural metal, after iron and aluminum. Its main applications are in aluminum alloys, die-casting, removal of sulfur in the iron and steel production process, and titanium production.

The growing demand from die casting and aluminum alloy application segments is anticipated to drive the market growth forward. Diecast components and aluminum alloys that use magnesium are primarily utilized across the automotive, aerospace, and marine industries. In terms of volume, these two application segments jointly accounted for a considerable market share in 2021.

Asia Pacific held the largest revenue share in 2021 and this trend is anticipated to continue over the forecast period. The growing demand for titanium alloys from the aerospace industry is expected to drive titanium production over the forecast period. This, in turn, is expected to generate a proportional demand for magnesium in titanium production over the coming years.

Report Coverage

Report Scope Details
Market Size US$ 6.97 billion by 2030
Growth Rate CAGR of 5.2% From 2022 to 2030
Largest Market Europe
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned NipponKinzoku Co. Ltd.; VSMPO-Avisma Corp.; SolikamskDesulphurizer Works (SZD); Western Magnesium Corp.

By Application Analysis

The die casting application segment accounted for the maximum revenue share of more than 37.5% in 2021. The trend is expected to continue with the segment registering the fastest CAGR over the forecast period. Magnesium is used as an ideal material in die casting applications owing to its good heat conductivity and electromagnetic screening property.

Increasing demand for lightweight materials in aircraft production for reducing the weight of commercial aircraft is expected to drive the segment growth. Titanium and its alloys are widely used in multiple applications due to their excellent strength, good chemical stability, and low density. Titanium is majorly used in spacecraft, aircraft, and missiles and is increasingly being used in the medical field as well.

Magnesium is an important reagent in the production of iron and steel making as it is used for removing excessive sulfur from hot metal, which is a necessary step for creating high-quality steel. In addition, magnesium alloys have several applications, such as in the production of aircraft, spacecraft, machinery, automobiles, portable tools, and household appliances, and these are also being used in steering columns, gearboxes, seat frames, steering wheels, and in other automotive machinery.

By Regional Analysis

Asia Pacific accounted for the largest revenue share of more than 45.0% in 2021 and is estimated to expand further at the fastest CAGR from 2022 to 2030. Increasing consumption of aluminum and steel from the end-use industries, such as electric vehicles (EVs) and construction, are the key factors driving the APAC regional market growth.

The rising demand from the automotive and aerospace industries in China and India is expected to support the market growth in this region. Moreover, the demand from the steel industry in India and Japan will facilitate the overall market growth. North America accounted for the second-largest revenue share of the global market in 2021.

The market in the North America region is anticipated to witness steady growth over the coming years. This is mainly attributed to the rising demand for aluminum and titanium alloys from the automotive and aerospace & defense industries.

Key Players

  • Alliance Magnesium
  • Esan Eczacibasi
  • Latrobe Magnesium
  • Nippon Kinzoku Co. Ltd.
  • Regal Metal
  • Shanghai Sunglow Investment (Group) Co., Ltd.
  • SolikamskDesulphurizer Works (SZD)
  • U.S. Magnesium LLC
  • VSMPO-Avisma Corp.
  • Western Magnesium Corp.

Market Segmentation

  • By Application
    • Die Casting
    • Aluminum Alloys
    • Titanium Reduction
    • Iron & Steel Making
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Russia
    • Asia Pacific
      • China
      • Japan
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa
      • South Africa
      • Saudi Arabia

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Metal Magnesium Market, By Application

7.1.  Metal Magnesium Market, by Application, 2021-2030

7.1.1.    Die Casting

7.1.1.1.        Market Revenue and Forecast (2019-2030)

7.1.2.    Aluminum Alloys

7.1.2.1.        Market Revenue and Forecast (2019-2030)

7.1.3.    Titanium Reduction

7.1.3.1.        Market Revenue and Forecast (2019-2030)

7.1.4.    Iron & Steel Making

7.1.4.1.        Market Revenue and Forecast (2019-2030)

Chapter 8.  Global Metal Magnesium Market, Regional Estimates and Trend Forecast

8.1.  North America

8.1.1.    Market Revenue and Forecast, by Application (2019-2030)

8.1.2.    U.S.

8.1.3.    Rest of North America

8.1.3.1.        Market Revenue and Forecast, by Application (2019-2030)

8.2.  Europe

8.2.1.    Market Revenue and Forecast, by Application (2019-2030)

8.2.2.    UK

8.2.2.1.        Market Revenue and Forecast, by Application (2019-2030)

8.2.3.    France

8.2.3.1.        Market Revenue and Forecast, by Application (2019-2030)

8.2.4.    Rest of Europe

8.2.4.1.        Market Revenue and Forecast, by Application (2019-2030)

8.3.  APAC

8.3.1.    Market Revenue and Forecast, by Application (2019-2030)

8.3.2.    India

8.3.2.1.        Market Revenue and Forecast, by Application (2019-2030)

8.3.3.    China

8.3.3.1.        Market Revenue and Forecast, by Application (2019-2030)

8.3.4.    Japan

8.3.4.1.        Market Revenue and Forecast, by Application (2019-2030)

8.3.5.    Rest of APAC

8.3.5.1.        Market Revenue and Forecast, by Application (2019-2030)

8.4.  MEA

8.4.1.    Market Revenue and Forecast, by Application (2019-2030)

8.4.2.    GCC

8.4.2.1.        Market Revenue and Forecast, by Application (2019-2030)

8.4.3.    North Africa

8.4.3.1.        Market Revenue and Forecast, by Application (2019-2030)

8.4.4.    South Africa

8.4.4.1.        Market Revenue and Forecast, by Application (2019-2030)

8.4.5.    Rest of MEA

8.4.5.1.        Market Revenue and Forecast, by Application (2019-2030)

8.5.  Latin America

8.5.1.    Market Revenue and Forecast, by Application (2019-2030)

8.5.2.    Brazil

8.5.2.1.        Market Revenue and Forecast, by Application (2019-2030)

8.5.3.    Rest of LATAM

8.5.3.1.        Market Revenue and Forecast, by Application (2019-2030)

Chapter 9.    Company Profiles

9.1.  Alliance Magnesium

9.1.1.    Company Overview

9.1.2.    Product Offerings

9.1.3.    Financial Performance

9.1.4.    Recent Initiatives

9.2.  Esan Eczacibasi

9.2.1.    Company Overview

9.2.2.    Product Offerings

9.2.3.    Financial Performance

9.2.4.    Recent Initiatives

9.3.  Latrobe Magnesium

9.3.1.    Company Overview

9.3.2.    Product Offerings

9.3.3.    Financial Performance

9.3.4.    Recent Initiatives

9.4.  Nippon Kinzoku Co. Ltd.

9.4.1.    Company Overview

9.4.2.    Product Offerings

9.4.3.    Financial Performance

9.4.4.    Recent Initiatives

9.5.  Regal Metal

9.5.1.    Company Overview

9.5.2.    Product Offerings

9.5.3.    Financial Performance

9.5.4.    Recent Initiatives

9.6.  Shanghai Sunglow Investment (Group) Co., Ltd.

9.6.1.    Company Overview

9.6.2.    Product Offerings

9.6.3.    Financial Performance

9.6.4.    Recent Initiatives

9.7.  SolikamskDesulphurizer Works (SZD)

9.7.1.    Company Overview

9.7.2.    Product Offerings

9.7.3.    Financial Performance

9.7.4.    Recent Initiatives

9.8.  U.S. Magnesium LLC

9.8.1.    Company Overview

9.8.2.    Product Offerings

9.8.3.    Financial Performance

9.8.4.    Recent Initiatives

Chapter 10.  Research Methodology

10.1.              Primary Research

10.2.              Secondary Research

10.3.              Assumptions

Chapter 11.  Appendix

11.1.              About Us

11.2.              Glossary of Terms

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