The “Magnesium Alloys Market” intelligence report, just published by USD Analytics Market, covers a micro-level study of important market niches, product offers, and sales channels. to determine market size, potential, growth trends, and competitive environment, the Magnesium Alloys Market provides dynamic views. Both primary and secondary sources of data were used to generate the research, which has both qualitative and quantitative depth. Several of the major figures the study featured Fugu Jinwantong Magnesium Industry Co., Yinguang Weijie Magnesium Industry Co, Globe Specialty Metals, Ningxia Hui-ye Magnesium Marketing Group Co.,Ltd., Nanjing Yunhai Special Metals Co., Magontec Ltd.
Global Magnesium Alloys Market Size is valued at $3.8 Billion in 2024 and is forecast to register a growth rate (CAGR) of 9.7% to reach $8 Billion by 2032.
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An Overview of the Magnesium Alloys Market
Magnesium alloys are used as weight-saving alternatives to aluminium and iron metals, as well as to improve the material’s tensile strength. Magnesium alloys are used in a wide range of applications, including portable electronic devices, automobile parts, computer parts, and portable telephones, due to their excellent corrosion resistance and lightweight. Magnesium alloys’ improved heat resistance and strength have expanded their use in automotive frame manufacturing and the aerospace industry. Magnesium reserves are about a fifth of those of iron, a quarter of those of aluminium, and 190 times those of copper and nickel. Magnesium’s high abundance makes it one of the most inexhaustible resources found all over the world. Magnesium is one of the lightest metals used in the construction of frames, structures, and parts for cellular phones. Magnesium is one-quarter the density of iron and two-thirds the density of aluminium. Magnesium alloys have excellent shielding properties and can provide electromagnetic wave protection, making them suitable for use in the aerospace industry. Magnesium alloys are made in specific proportions with aluminium, zinc, manganese, and other rare Earth metals to produce a variety of alloys with different physical properties. Electrolysis and thermal reduction processes are used to create these alloys. Magnesium chloride is extracted from the ores and then reduced to a metallic form through the electrolysis process.
Magnesium Alloys Market Size, Share, Trends, Growth Outlook, and Opportunities to 2030- By Alloy (Cast Alloys, Wrought Alloys), By End-User (Automotive & Transportation, Electronics, Aerospace & Defense, Power Tools). and significant players are the market segments.
In order to provide a thorough analysis of the industry, the report compiled data from over 22 jurisdictions or nations across Europe, North America, South America, Asia Pacific, and MEA.
Geographically, the global version of the report has the following country inclusion:
• North America [United States, Canada, and Mexico]
• Europe [Germany, the UK, France, Italy, Netherlands, Belgium, Denmark, Spain, Sweden, and the Rest of Europe]
• Asia-Pacific [China, Japan, South Korea, India, Australia, Indonesia, and Others]
• South America [Brazil, Argentina, Colombia, and the Rest of South America]
• the Middle East and Africa (South Africa, Turkey, Israel, GCC Countries, and the Rest of Africa)
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The primary goal of this study is to determine which market niches or nations that companies and investors should concentrate on in the future in order to allocate their resources and efforts toward Magnesium Alloys that will optimize growth and profitability. The year 2024 will see notably slower growth, and given the dynamic macroeconomic and regulatory environment, major markets in North America and Western Europe will need “heavy lifting” to handle these tendencies.
In the Magnesium Alloys industry, distribution channels are always crucial because of the “push” nature of many offerings in the sector. In an effort to strengthen their relationship with customers, companies have been refining their distribution model. As the Internet becomes more widely used and consumers start to value expediency, digital purchases are growing in popularity in Magnesium Alloys.
Furthermore, the years considered for the study are as follows:
Historical year – 2018-2023
Base year – 2023
Forecast period** – 2024 to 2032 [** unless otherwise stated]
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Major Highlights of TOC:
Chapter 1: Overview of the Magnesium Alloys Market Industry
1.1.1 Overview;
1.1 Magnesium Alloys Industry
1.1.2 Key Companies’ Products
1.2 Market Segment by Magnesium Alloys
1.2.1 Industry Chain
1.2.2 Customer Behavior & Distribution Routes
Chapter Two: Demand for Magnesium Alloys Worldwide
2.1 Overview of the Segment
2.2 Magnesium Alloys Market Size (2018-2023) by Application/End Users
2.3 Application/End User Forecast for the Magnesium Alloys Market (2024E-2032)
Chapter 3: Type-wise Magnesium Alloys Market
3.1 According to Type
3.2 Market Size for Magnesium Alloys by Type, 2018-2023
3.3 Market Forecast for Magnesium Alloys by Type (2024E-2030)
Chapter Four: Magnesium Alloys Market: by Region/Country
4.1 Magnesium Alloys Market by Regions
4.2 Magnesium Alloys Market Revenue & Share by Region
4.3 North America
4.4 Europe
4.5 the Asia Pacific
4.6 South America
4.7 the Middle East & Africa
Player Analysis in Chapter Five
5.1 Players’ Market Share Analysis (2023)
5.2 Regional Market Concentration Rates
5.3 Overviews of Companies
……….continued
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