Magnesium Alloys Market : was valued at US$ 1.57 Bn. in 2021. Global Magnesium Alloys Market size is estimated to grow at a CAGR of 12.25 %. The Magnesium Alloys Market is expected to reach 3.96 Bn metric tons by 2029.
Magnesium Alloys Market Overview:
The competitive landscape of the Magnesium Alloys market includes information about competitors. Among the areas covered are a firm overview, financials, revenue generated, market potential, R&D investment, new market efforts, geographical presence, business strengths and weaknesses, product introduction, and application dominance. The information that follows is only relevant to the organization's concentration on the Magnesium Alloys market.
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Market Scope:
Top-down and bottom-up approaches are used to validate the market size and estimate the market size by different segments. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
Segmentation:
Based on the Application: magnesium alloys market is segmented into automotive & transportation, electronics, aerospace & defense, power tools and others. The Automotive & Transportation is expected to contribute more than 35% share in the global market by 2029. Magnesium alloy is used in a wide variety of automobile applications including body, chassis, and interior components. Some of the examples include instrument panels, steering wheels, engine cradles, seats, transfer cases. In the automotive market, alloys used are AZ, AM, AE, and AS series, which are high pressure die cast to take benefits of magnesium’s excellent die castability. Magnesium alloys are used to support brackets for brakes and clutch, housing for transmission. automotive industry has used a wide range of magnesium components on vehicles like in pistons, oil pumps, mounts, brackets and housings. The demand for electrical vehicle in the near future is expected to drive the demand for magnesium alloys.
Key Players:
• Magnesium Elektron • Ka Shui International Holdings Ltd. • Magontec • U.S. Magnesium LLC • Nanjing Yunhai Special Metals Co. Ltd. • Meridian Lightweight Technologies • Advanced Magnesium Alloys Corporation (AMACOR) • Shanghai Regal Magnesium Limited Company • Shanxi Yinguang Huasheng Magnesium Co. Ltd. • Shanxi Credit Magnesium Co. Ltd. • Dynacast • Shanxi Fugu Tianyu Mineral Industry • Posco • China Magnesium Corporation Limited • Dead Sea Magnesium • Spartan Light Metal Products • Smiths Advanced Metals • Rima Group • Yee Dongguan Science and Technology Co. Ltd. • Taiyuan Tongxiang Magnesium Co. Ltd.
The following are the key players of the Magnesium Alloys market-
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Regional Analysis:
Individual market influencing components and changes in market rules that impact present and future market trends are also explored in the research's geographical component. Downstream and upstream value chain analysis, technology trends, Porter's five forces analysis, and case studies are some of the elements utilized to anticipate market scenarios for various nations.
COVID-19 Impact Analysis on Magnesium Alloys Market: In addition, the paper evaluates the influence of COVID-19 on the Magnesium Alloys market. The primary goal of this research is to assist users in understanding the market in terms of definition, segmentation, market potential, important trends, and challenges that the industry faces across major regions. The study presents a microeconomic and macroeconomic analysis of COVID-19's overall impact on the Magnesium Alloys Market. The analysis focuses on market share and size, clearly illustrating the impact of the pandemic on the global Magnesium Alloys Market in the next years.
Key Questions Answered in the Magnesium Alloys Market Report are:
What will be the Magnesium Alloys market's CAGR throughout the projected period (2021-2027)?
Which market category emerged as the market leader in the Magnesium Alloys industry?
Who are the key players in the Magnesium Alloys market?
What important trends in the Magnesium Alloys industry are anticipated to develop throughout the forecast period?
How big will the Magnesium Alloys market be in 2027?
In 2020, which business segment had the highest proportion of the Magnesium Alloys market?
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