Global Metal Magnesium Market Overview And Prospects – Includes Metal Magnesium Market Size
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The global metal magnesium market is expected to grow from $3.88 billion in 2021 to $4.11 billion in 2022 at a compound annual growth rate (CAGR) of 5.95%. The global metal magnesium market size is expected to grow to $5.33 billion in 2026 at a compound annual growth rate (CAGR) of 6.72%.
The increased focus on automotive light-weighting is driving the growth of the metal magnesium market.
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The metal magnesium market consists of sales of metal magnesium by entities (organizations, sole traders, partnerships) that refer to light structural metals used to produce lightweight products including car covers, car seats, cameras, laptops, fuel tank covers, steering wheels, and others. Magnesium is also used to melt iron and steel to remove the sulfur particles and is also used in fireworks, sparklers, flares, and others.
Global Metal Magnesium Market Segments Include:
By Product: Pure Magnesium, Magnesium Compounds, Magnesium Alloys
By Manufacturing Process: Thermal Reduction Process, Electrolyte Process, Recycling
By Application: Die Casting, Aluminum Alloys, Titanium Reduction, Iron and Steel Making, Others
By End-User Industry: Automotive, Aerospace, Electronics, Sports, Medical, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global metal magnesium market in 2021.
The strategic partnership is a key trend gaining popularity in the metal magnesium market. Many companies operating in the metal magnesium market and researchers/academies are undergoing partnerships for the research and development of metal magnesium. These partnerships bring synergies between the partners and result in new metal magnesium with multiple benefits. These partnerships enable metal magnesium players to innovate, and strengthen their market position.
TBRC’s Metal Magnesium Market Report Covers:
Major Market Players: Alliance Magnesium, Wenxi YinGuang Magnesium Industry (Group) Co Ltd, Nippon Kinzoku Co Ltd, POSCO, Taiyuan Tongxiang Magnesium Co Ltd, RIMA Group, Magontec Ltd, Shanxi Wenxi Hongfu Magnesium Co Ltd, US Magnesium LLC, Latrobe Magnesium, Sunglow Magnesium Group, Western Magnesium Corp, Nevada Clean Magnesium Inc, Dead Sea Magnesium Ltd and Esan Eczacibasi.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Metal Magnesium Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides metal magnesium market overviews, analyzes and forecasts market size, share, metal magnesium market players, metal magnesium market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s metal magnesium market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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