Magnesium Alloys Industry Trends

Definition: Global Magnesium Alloys

The global metals and alloys industry is changing in various ways like innovation and development of new alloys in such a way that the tensile strength and other properties of the conventional metals are improved. Magnesium is one of the most abundantly found elements in the world. It is found primarily on the surface of the ocean beds in different forms. Alloying magnesium improves its heat resistance, tensile strength and creep resistance.
Alloys can be termed as different alternatives to iron metals as they have less weight and they improve the tensile strength of a material. These alloys have an outstanding corrosion resistant property and are considerably light in weight hence, they are used for a wide range of applications such as portable electronic devices, automobile parts, computer parts, and portable telephones.
The reserves of magnesium that are around the globe are comparatively two-fifth that of iron and 190 times higher than those of copper and nickel.  Such high abundance of magnesium makes it as one of the most inexhaustible resource which is distributed all over the world.

Analysis: Global Magnesium Alloys

The Global Magnesium Alloys Market is expected to reach USD 2.10 billion by 2025, from USD 1.32 billion in 2017 growing at a CAGR of 6.3% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year& 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Drivers:
  • Growing use of magnesium alloys in the automotive industry due to regulations over fuel efficiency and emissions
  • Advantages of magnesium alloys over other alloys
Market Restraint:
  • Uncertainty of magnesium price
  • Issues related to weldability and corrosion resistance
Segmentation: Global Magnesium Alloys
By Alloy Type
  • Cast Alloy, Wrought
  • Alloy Others
 By End-Use Industry
  • Automotive & Transportation
  • Electronic
  • Aerospace & Defence
  • Power Tools
  • Others
Key Players Operating in the Global Magnesium Alloys Market
  • Magnesium Elektron
  • KA Shui International Holdings Ltd.
  • Magontec
  • S. Magnesium
  • Nanjing Yunhai Special Metals Co. Ltd.
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