Global Magnesium Market Outlook to 2027
Magnesium is a silvery-white metal and the lightest metal available for various structural applications, ninth most abundant element in the universe & can be easily obtained from multiple mineral resources like sea-water or brines, it is formed in large deposits of magnesite, dolomite, other minerals, & in mineral waters, where magnesium ion is soluble. According to BlueQuark Research & Consulting, the global Magnesium market is expected towitness a significant growth rate during the forecasted period. Factors like surging demand from the automotive industry, owing to the increasing substitution of aluminum & steel to reduce the weight of vehicles to comply with the changing emission regulations, are expected to drive the demand of the magnesium market. Further, the high demand for steel from various end-use industries & the use of lightweight materials in the aerospace industry is predicted to drive the magnesium market. Furthermore, the aluminum alloying segment has a significant share in the market predicted to boost the magnesium market. However, Corrosion resistance and wielding issues with magnesium are expected to obstruct the magnesium market growth.
Magnesium is used in products that advantage from being lightweight, like car seats, luggage, laptops, cameras, and power tools. Magnesium metal is also worn as a reductant in metals such as titanium, uranium, hafnium, and zirconium.
The rising demand for magnesium metal in the automotive industry for the production of various automobile parts is a crucial factor driving the growth of the magnesium market. There is an increase in the application of lightweight metals in the industries, as they offer better quality and durability. Magnesium-based products offer more excellent conductivity also thus increasing their utilization in the automotive, telecommunication sector considerably. Magnesium is replacing iron, as magnesium has corrosion resistance, and these features of magnesium raise its applications in a gearbox, seat frame, & steering wheels, among others. The automotive parts made using magnesium metal are gearbox, frond end, & IP beans, steering column & drivers airbag housings, steering wheels, seat frames, & fuel tank covers. Many large automotive companies have already replaced steel & aluminum with magnesium in various parts of their products to decrease the vehicle's weight. The increasing environmental pollution emanating from the transportation sector, the development of greener technologies & vehicles that are all the more fuel-efficient have emerged as a top priority for the automotive industry.
Some of the market's key players are Dead Sea Magnesium Ltd., US Magnesium LLC, Gossan Resources, Wenxi YinGuang Magnesium Industry (Group) Co. Ltd, and Latrobe Magnesium.
The Asia Pacific region is projected to influence the market during the forecast period. The automobile and aerospace industries are growing in developing countries like India and prefer magnesium in production processes for weight reduction to make better performance products. Magnesium is used in the aerospace industry to make lightweight components due to the increasing need for fuel-efficient aircraft & to minimize the overall weight of aircraft. Magnesium is one of the lightest metals & is substantially more stable, making it suitable for making lightweight & reliable aircraft components. The market is divided into aluminum alloying, die casting, desulfurization, metal reduction, & others. The significance of the segment is attributed to the ability of magnesium to increase the strength of the alloy when added to it & hardening it. These alloys are majorly used in manufacturing beverage cans, pressure vessels, building & chemicals tankers. Developments in the titanium market due to growing applications from the aerospace, pharmaceutical, medical & healthcare industries are anticipated to speed up the growth of the magnesium market.
In December 2020, Western Magnesium Corporation announced that the company is at a stage in the development to move onwards with creating the Sales and Corporate Partnerships Division. Under this division, Western Magnesium Corporation officially engages with companies in various industries such as automotive, aerospace, eco-friendly technology companies, the US Government, and the Department of Defense. They are interested in the production of magnesium metal.
Global Magnesium Market report provides deep insight into the Industrial market’s current and future state across various regions. The study comprehensively analyses the Magnesium market by segmenting based on Manufacturing Process(Thermal Reduction Process, Electrolytic Process, Recycling), Product(Pure Magnesium, Magnesium Compounds,Magnesium Alloys, and others), Application(Die casting, Aluminum alloys, Titanium reduction, Iron & steelmaking, and others), End-Use Industry(Automotive, Aerospace, Defense, Construction, Medical and Healthcare, Packaging, Electronics, and others). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.
Magnesium is used in products that advantage from being lightweight, like car seats, luggage, laptops, cameras, and power tools. Magnesium metal is also worn as a reductant in metals such as titanium, uranium, hafnium, and zirconium.
The rising demand for magnesium metal in the automotive industry for the production of various automobile parts is a crucial factor driving the growth of the magnesium market. There is an increase in the application of lightweight metals in the industries, as they offer better quality and durability. Magnesium-based products offer more excellent conductivity also thus increasing their utilization in the automotive, telecommunication sector considerably. Magnesium is replacing iron, as magnesium has corrosion resistance, and these features of magnesium raise its applications in a gearbox, seat frame, & steering wheels, among others. The automotive parts made using magnesium metal are gearbox, frond end, & IP beans, steering column & drivers airbag housings, steering wheels, seat frames, & fuel tank covers. Many large automotive companies have already replaced steel & aluminum with magnesium in various parts of their products to decrease the vehicle's weight. The increasing environmental pollution emanating from the transportation sector, the development of greener technologies & vehicles that are all the more fuel-efficient have emerged as a top priority for the automotive industry.
Some of the market's key players are Dead Sea Magnesium Ltd., US Magnesium LLC, Gossan Resources, Wenxi YinGuang Magnesium Industry (Group) Co. Ltd, and Latrobe Magnesium.
The Asia Pacific region is projected to influence the market during the forecast period. The automobile and aerospace industries are growing in developing countries like India and prefer magnesium in production processes for weight reduction to make better performance products. Magnesium is used in the aerospace industry to make lightweight components due to the increasing need for fuel-efficient aircraft & to minimize the overall weight of aircraft. Magnesium is one of the lightest metals & is substantially more stable, making it suitable for making lightweight & reliable aircraft components. The market is divided into aluminum alloying, die casting, desulfurization, metal reduction, & others. The significance of the segment is attributed to the ability of magnesium to increase the strength of the alloy when added to it & hardening it. These alloys are majorly used in manufacturing beverage cans, pressure vessels, building & chemicals tankers. Developments in the titanium market due to growing applications from the aerospace, pharmaceutical, medical & healthcare industries are anticipated to speed up the growth of the magnesium market.
In December 2020, Western Magnesium Corporation announced that the company is at a stage in the development to move onwards with creating the Sales and Corporate Partnerships Division. Under this division, Western Magnesium Corporation officially engages with companies in various industries such as automotive, aerospace, eco-friendly technology companies, the US Government, and the Department of Defense. They are interested in the production of magnesium metal.
Global Magnesium Market report provides deep insight into the Industrial market’s current and future state across various regions. The study comprehensively analyses the Magnesium market by segmenting based on Manufacturing Process(Thermal Reduction Process, Electrolytic Process, Recycling), Product(Pure Magnesium, Magnesium Compounds,Magnesium Alloys, and others), Application(Die casting, Aluminum alloys, Titanium reduction, Iron & steelmaking, and others), End-Use Industry(Automotive, Aerospace, Defense, Construction, Medical and Healthcare, Packaging, Electronics, and others). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.
1. Executive Summary
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.2 Restraints
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Regulatory Policies
3.6 Analysis of Covid-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5. Market Segmentation & Forecast
5.1 By Manufacturing Process
5.1.1 Thermal Reduction Process
5.1.2 Electrolytic Process
5.1.3 Recycling
5.2 By Product
5.2.1 Pure Magnesium
5.2.2 Magnesium Compounds
5.2.3 Magnesium Alloys
5.2.4 others
5.3 By Application
5.3.1 Die casting
5.3.2 Aluminum alloys
5.3.3 Titanium reduction
5.3.4 Iron & steelmaking
5.3.5 others
5.4 By End-Use Industry
5.4.1 Automotive
5.4.2 Aerospace
5.4.3 Defense
5.4.4 Construction
5.4.5 Medical and Healthcare
5.4.6 Packaging
5.4.7 Electronics
5.4.8 Others
6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Mexico
6.2 Europe
6.2.1 Germany
6.2.2 United Kingdom
6.2.3 Italy
6.2.4 France
6.2.5 Spain
6.2.6 Rest of Europe
6.3 Asia-Pacific
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle East & Africa
7. Key Company Profiles
7.1 Dead Sea Magnesium Ltd.
7.2 US Magnesium LLC
7.3 Gossan Resources
7.4 Wenxi YinGuang Magnesium Industry (Group) Co. Ltd
7.5 Latrobe Magnesium
7.6 POSCO
7.7 RI.MA Group srl
7.8 Solikamsk Magnesium Works OAO
7.9 Shanxi Wenxi Hongfu Magnesium Co., Ltd.
7.10 Taiyuan Tongxiang Magnesium Co., Ltd.
7.11 Albemarle Corporation
7.12 Aremco Products, Inc.
7.13 Belmont Metals, Inc.
7.14 ICL Group Ltd.
7.15 Lehmann & Voss & Company KG* List of companies is not exhaustive
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.2 Restraints
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Regulatory Policies
3.6 Analysis of Covid-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5. Market Segmentation & Forecast
5.1 By Manufacturing Process
5.1.1 Thermal Reduction Process
5.1.2 Electrolytic Process
5.1.3 Recycling
5.2 By Product
5.2.1 Pure Magnesium
5.2.2 Magnesium Compounds
5.2.3 Magnesium Alloys
5.2.4 others
5.3 By Application
5.3.1 Die casting
5.3.2 Aluminum alloys
5.3.3 Titanium reduction
5.3.4 Iron & steelmaking
5.3.5 others
5.4 By End-Use Industry
5.4.1 Automotive
5.4.2 Aerospace
5.4.3 Defense
5.4.4 Construction
5.4.5 Medical and Healthcare
5.4.6 Packaging
5.4.7 Electronics
5.4.8 Others
6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Mexico
6.2 Europe
6.2.1 Germany
6.2.2 United Kingdom
6.2.3 Italy
6.2.4 France
6.2.5 Spain
6.2.6 Rest of Europe
6.3 Asia-Pacific
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle East & Africa
7. Key Company Profiles
7.1 Dead Sea Magnesium Ltd.
7.2 US Magnesium LLC
7.3 Gossan Resources
7.4 Wenxi YinGuang Magnesium Industry (Group) Co. Ltd
7.5 Latrobe Magnesium
7.6 POSCO
7.7 RI.MA Group srl
7.8 Solikamsk Magnesium Works OAO
7.9 Shanxi Wenxi Hongfu Magnesium Co., Ltd.
7.10 Taiyuan Tongxiang Magnesium Co., Ltd.
7.11 Albemarle Corporation
7.12 Aremco Products, Inc.
7.13 Belmont Metals, Inc.
7.14 ICL Group Ltd.
7.15 Lehmann & Voss & Company KG* List of companies is not exhaustive
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
LIST OF TABLES
Global Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
North America Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
United States Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Canada Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Mexico Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Europe Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
United Kingdom Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Germany Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Italy Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
France Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Other Supporting Charts
Rest of Europe Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
South America Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Brazil Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Argentina Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Rest of South America Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Asia-Pacific Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
China Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
India Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Japan Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
South Korea Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Rest of Asia-Pacific Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Middle East & Africa Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Saudi Arabia Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
South Africa Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Rest of Middle-East & Africa Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Global Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
North America Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
United States Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Canada Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Mexico Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Europe Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
United Kingdom Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Germany Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Italy Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
France Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Other Supporting Charts
Rest of Europe Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
South America Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Brazil Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Argentina Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Rest of South America Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Asia-Pacific Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
China Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
India Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Japan Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
South Korea Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Rest of Asia-Pacific Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Middle East & Africa Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Saudi Arabia Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
South Africa Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
Rest of Middle-East & Africa Magnesium Market Size, Market Growth & Market Forecast Revenue (in USD Millions), 2016-2026
