Metal magnesium is one of the lightest materials, and due to magnesium's potential for lightweight design, magnesium castings will increasingly be used in multi-material construction. Magnesium is highly relevant to the construction of modern vehicles. Magnesium has an excellent strength to weight ratio, high electrical and thermal conductivity, and can withstand high operating temperatures. Magnesium alloyed with aluminum is used in numerous applications, including RFI and EMI shielding, vehicle parts, electrical housings, and electrical connectors.
MARKET DYNAMICS
Surging die casting requirements in automotive and various structural applications and investments in automotive R & D are projected to assist in the metal magnesium market's growth. Other applications such as wind turbines, aerospace and defense components, and compressed gas storage are predicted to provide lucrative opportunities to market vendors over the coming years. Also, the rising adoption of magnesium is various industries such as aerospace, electronics, and packaging industries that are expected to boost the growth of the global metal magnesium market. However, the magnesium's flammable property, especially when powdered or shaved into thin strips, is expected to hamper the global metal magnesium market's development over the forecast period.
MARKET SCOPE
The "Global Metal Magnesium Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the metal magnesium market with detailed market segmentation by product type, end use, and application. The global metal magnesium market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading metal magnesium market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global metal magnesium market is segmented into product type, end use, and application. By product type, the metal magnesium market is classified into pure magnesium, magnesium compounds, and magnesium alloys. Based on end use, the metal magnesium market is classified into aerospace & defense, automotive, medical& healthcare, electronics, and others. By application, the metal magnesium market is classified into die casting, aluminum alloys, titanium reduction, iron and steel making, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global metal magnesium market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The metal magnesium market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the metal magnesium market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the metal magnesium market in these regions.
MARKET PLAYERS
The reports cover vital developments in the metal magnesium market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from the metal magnesium market are anticipated to lucrative growth opportunities in the future with the rising demand for metal magnesium in the global market. Below mentioned is the list of few companies engaged in the metal magnesium market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the metal magnesium market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.
NIPPON KINZOKU CO., LTD.
VSMPO-AVISMA Corporation
Solikamsk Magnesium Works
Latrobe Magnesium
Alliance Magnesium
Dead Sea Magnesium Ltd
Mag Specialties Inc.
Wenxi YinGuang Magnesium Industry (Group) Co., Ltd.
U.S. Magnesium LLC
RIMA GROUP
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