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Magnesium Metal Market 2017–2027

Magnesium metal is one of the lightest metal which can be used for structural applications. It is a silvery-white metal and can be extracted from seawater or brines. One of the major application areas of magnesium metal is the production of aluminum where it is used to improved physical properties and processability of metal. They are mostly used to make lighter components and also used in iron and steel desulphurization applications. Furthermore, it is also used as a reductant in the manufacturing of metals such as hafnium, titanium, uranium, and zirconium. Some of the end-user of magnesium metal are automotive, electronics, aerospace, packaging and printing. Additionally, they are also used in the petroleum industry in the production of crude oil production.

The global magnesium metal market is estimated to surpass US$ 6.5 billion by the end of 2027, in terms of revenue, growing at CAGR of 7.2% during the forecast period (2019 to 2027).

Drivers

Growing aircraft application of magnesium metal is expected to propel the market growth over the forecast period. In the aerospace industry it is used to make lightweight components due to the rising need for fuel-efficient aircraft and reduce the overall weight of aircraft. Magnesium is one of the lightest metal and is relevantly more stable which makes it ideal for making lightweight and durable aircraft a component such as a cabin and other interior parts. Hence, rising demand from the aerospace industry is projected to augment the market growth of magnesium metal.

Increasing production of titanium around the globe is expected to accelerate the market growth of magnesium metal. Growth of titanium market due to rising application from aerospace, chemicals, medical & healthcare industries is projected to accelerate the market growth of magnesium metal. Hence, the growing production of titanium to cater to rising need from the aforementioned application will favor the market growth.

Regionally, Asia-Pacific dominated the global magnesium metal market in 2018, reporting 46% market share in terms of revenue, followed by North America and Europe, respectively.

Figure 1. Global Magnesium Metal Market, Revenue Share (%), By Region, 2018

Magnesium Metal  | Coherent Market Insights

Market Restraints

Magnesium metal is highly suitable for welding and is chemically reactive which is expected to restrict the adoption of magnesium metal. Moreover, it is not suitable for heat applications and it gets shrinks at extremely cold temperatures. All these disadvantages are expected to restrict the adoption of magnesium metal which in turn expected to hinder the market growth over the forecast period.

Use of magnesium metal and its alloys for certain applications such as automotive and aerospace are required to follow some regulatory bodies this is expected to hinder the market growth of magnesium metal. Due to strict rules and regulations major players are restricting the adoption of magnesium metal which is expected to hinder the market growth.

Market Opportunities

The rapid growth of the packaging industry around the globe is expected to offer enormous growth opportunity over the forecast period. According to the all4pack Paris, the world packaging market amounted to US$ 851 billion in 2017, an increase of 2.8% compared to 2016 at constant prices. It is projected to reach US$ 876 billion in 2018, based on the annual growth of 2.9%, could reach US$ 980 billion in 2022 and US$ 1,000 billion in 2023.

Growing production of aluminum around the globe due to rising demand from the various end-use application is expected to augment the market growth. Aluminum has a wide range of application due to its lightweight and inductility properties which makes it ideal for the packaging, automotive, and aerospace industry. Therefore, the growing demand for aluminum around the globe will positively impact the market growth. 

Figure 2. Global Magnesium Metal Market – Opportunity Analysis

Magnesium Metal  | Coherent Market Insights

Market Trends

Increasing focus of manufacturers to introduce innovative magnesium metal products is a major trend that has been observed in the market. For instance, in October 2018, Allite launched super magnesium, is a first material to go-to-market from Ohio-based company Allite Inc. Lighter and stiffer than aluminum, less expensive than carbon fiber and with the lowest carbon footprint of any structural material throughout the value chain. This metal can be used across spanning medical, sporting goods, aerospace, automotive and beyond.

Many manufacturers are adopting smart strategies such as partnership and agreement in order to expand their market presence will favor the growth of the magnesium metal market. For instance, in January 2017, Meridian Lightweight Technologies, Plymouth, Mich., announces that Birmingham City University, England, has signed an exclusive partnership with Meridian, the world's largest producer of magnesium components, to showcase magnesium as a viable alternative for luxury car makers and the aerospace industry.

Figure 3. Global Magnesium Metal Market, Revenue Share (%), By Application, in 2018

Magnesium Metal  | Coherent Market Insights

On the basis of application, in 2018, aluminum alloys accounted the largest market share of 32% in terms of revenue, followed by die-casting and metal reduction, respectively.

Figure 4. Global Magnesium Metal Market – Opportunity Analysis

Magnesium Metal  | Coherent Market Insights

Competitive Section

Key players operating in the global magnesium metal market are US Magnesium LLC., Dead Sea Magnesium Ltd., POSCO, RIMA Group, Solikamsk Magnesium Works OAO, Wenxi YinGuang Magnesium Industry (Group) Co., Ltd., Shanxi Wenxi Hongfu Magnesium Co., Ltd., Shanxi Wenxi Zhenxin Magnesium Co., Ltd., and Taiyuan Tongxiang Magnesium Co., Ltd.

Magnesium metal is a type of a light metal which is silvery white in color. Magnesium metal is very light as compared to the other metals used for structural purposes such as aluminum and steel. Moreover, magnesium metal can be derived from various sources such as sea salt or electrolysis of brine solution, as it is one of the most abundantly available element in the world. Magnesium metal also finds its applications across a various end-user industries such as production of aluminum alloys and die-castings, owing to its physical properties and low density.

Market Dynamics

The global magnesium metal market has witnessed an increase in growth in terms of revenue, in recent past years, owing to the rising demand of magnesium from the aerospace, automotive, and healthcare industry. This is mainly due to lower weight and superior compressive strength. Furthermore, the surge in growth of automotive and aerospace industries in emerging economies across the globe is further anticipated to provide lucrative growth to global magnesium metal market in the forthcoming years.

On the basis of application, the global magnesium metal market is bifurcated in to aluminum alloys, die-casting, metal reduction, desulphurization and others. Among regions, Asia-pacific is expected to observe substantial growth in term of revenue, during the forecast period, owing to the steady rise in growth of various end-user industries such as electronics, automotive, pharmaceutical, and packaging and others.

Key features of the study:

  • This report provides in-depth analysis of global magnesium metal market size (US$ Billion and Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global magnesium metal market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes US Magnesium LLC., Dead Sea Magnesium Ltd., POSCO, RIMA Group, Solikamsk Magnesium Works OAO, Wenxi YinGuang Magnesium Industry (Group) Co., Ltd., Shanxi Wenxi Hongfu Magnesium Co., Ltd., Shanxi Wenxi Zhenxin Magnesium Co., Ltd., and Taiyuan Tongxiang Magnesium Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global magnesium metal market report caters to various stakeholders in this industry including investors, suppliers, global magnesium metal manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global magnesium metal market

Detailed Segmentation:

  • Global Magnesium Metal Market, By Application:
    • Die-casting
    • Aluminium Alloys
    • Metal Reduction
    • Desulphurization
    • Others
  • Global Magnesium Metal Market, By Region:
    • North America
      • U.S.
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Canada
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
    • Latin America
      • Brazil
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Argentina
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Mexico
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Rest of Latin America
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
    • Europe
      • France
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Germany
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Italy
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Spain
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • U.K.
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Nordic
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Benelux
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Russia
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Poland
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Rest of Europe
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
    • Asia Pacific
      • China
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • India
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Japan
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • ASEAN
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Australia & New Zealand
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Rest of Asia Pacific
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
    • Middle East & Africa
      • GCC
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • South Africa
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
      • Rest of Middle East & Africa
        • By Application
          • Die-casting
          • Aluminium Alloys
          • Metal Reduction
          • Desulphurization
          • Others
  • Company Profiles
    • US Magnesium LLC *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Dead Sea Magnesium Ltd.
    • POSCO
    • RIMA Group
    • Solikamsk Magnesium Works OAO
    • Wenxi YinGuang Magnesium Industry (Group) Co., Ltd.
    • Shanxi Wenxi Hongfu Magnesium Co., Ltd.
    • Shanxi Wenxi Zhenxin Magnesium Co., Ltd.
    • Taiyuan Tongxiang Magnesium Co., Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Magnesium Metal Market, By Application, 2017 - 2027 (US$ Billion and Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Die-casting
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Tons)
    • Aluminium Alloys
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Tons)
    • Metal Reduction
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Tons)
    • Desulphurization
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Billion and Tons)
  5. Global Magnesium Metal Market, By Region, 2017- 2027 (US$ Billion and Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Rest of Latin America
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • France
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Nordic
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Benelux
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Russia
          • Country Trends
          •  
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Poland
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Rest of Europe
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Oceania
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Rest of Asia Pacific
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2019 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
        • Rest of Middle East & Africa
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Billion and Tons)
  6. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • US Magnesium LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Dead Sea Magnesium Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • POSCO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • RIMA Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Solikamsk Magnesium Works OAO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Wenxi YinGuang Magnesium Industry (Group) Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Shanxi Wenxi Hongfu Magnesium Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Shanxi Wenxi Zhenxin Magnesium Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Taiyuan Tongxiang Magnesium Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "Global Magnesium Metal Market” – global forecast to 2027

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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