The Magnesium Alloys Market Size was estimated at USD 2.18 billion in 2023 and is expected to arrive at USD 7.51 billion by 2032 with a growing CAGR of 14.74% over the forecast period 2024-2032. The Magnesium Alloys Market report uniquely highlights regional disparities in production output, consumption patterns, and capacity utilization rates, offering a comparative analysis of supply-demand dynamics. It delves into technological advancements in alloy processing across key regions, identifying innovations driving efficiency and performance. Additionally, the study explores import/export trends, revealing shifts in trade patterns and regional dependencies. Emerging trends such as the rise of high-performance Mg alloys in aerospace & EV industries, along with sustainability-driven recycling innovations, further distinguish this analysis.
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Drivers
The growing demand for magnesium alloys in automotive and aerospace industries is driven by their lightweight properties, enhancing fuel efficiency, performance, and sustainability.
The magnesium alloys market is experiencing significant growth, due to the high strength-to-weight ratio, magnesium alloys are commonly used for vehicle lightweighting, which is closely associated with fuel efficiency and performance. Car manufacturers are using alloys in structural and engine and transmission casing applications to meet stringent emissions regulations and improve electric vehicle (EV) efficiency. Magnesium alloys are making inroads into the aircraft frame, seat, and engine location space to replace heavier aluminum and aluminum-zinc families of metals, saving fuel and improving agility in the aerospace sector. Development in alloy composition and processing is pushing their applications even further. Corrosion-resistant and high-performance alloys continue the tendency to more extensive market uptake. Growing vertical transportation trends in sustainable transport and light-weighting are expected to steadily increase the demand for magnesium alloys, opening promising avenues for suppliers and manufacturers.
Restraint
The high cost of energy-intensive extraction, limited supply sources, and additional processing requirements make magnesium alloys less economically viable than aluminum alloys.
The high cost of magnesium extraction and processing remains a significant barrier to its widespread adoption. While aluminum is more abundant and technically easier to refine, which helps explain its relatively low cost, magnesium production requires energy-intensive processes of electrolysis or thermal reduction which leads to higher overall costs. Furthermore, the few nations capable of producing magnesium, China being the primary supplier, means the price of this metal fluctuates and supply chain interruptions are quite possible. Also, specialized refining and alloying techniques to improve the properties of magnesium may be another reason why the cost factor is enhanced during impractical use in the industry. Magnesium alloys are also usually prohibitively corroded against, requiring surface treatments that make them more expensive overall as compared to aluminum alloys. Because of these considerations, magnesium alloys have not been practical for the mass-market with particular reference to the cost-sensitive automotive industry. Apart from the progress in production mechanisms and recyclability, which are still in their early stages to reduce pricing, magnesium has failed to penetrate the market more widely due to its cost in comparison to different materials.
Opportunities
The recycling of magnesium alloys is expanding as industries focus on sustainability, cost reduction, and environmental impact through circular economy initiatives.
The recycling of magnesium alloys is gaining traction as industries emphasize sustainability and cost efficiency. To minimise reliance on the energy intensive and expensive extraction of primary magnesium, circular economy initiatives in magnesium include the reprocessing of scrap magnesium by manufacturers. Recycling magnesium alloys can reduce raw material costs and also reduce environmental damage by decreasing carbon releases and resource depletion. The potential for closed-loop recycling systems, in which magnesium is recovered from end-of-life vehicle and aerospace components and used to produce new ones, is being pursued, particularly in relation to the automotive and aerospace sectors, which leads to enhanced overall material efficiency. In addition, there are advancements in refining technologies to demand for better recycled magnesium that is becoming a suitable replacement for virgin materials. Incentives and stricter environmental policy from governments and regulatory bodies are also nudging companies to act more sustainably. Magnesium alloy recycling is predicted to grow as industries focus on environmentally friendly solutions that drive a sustainable and cost-efficient cache of materials.
Challenges
Magnesium is highly flammable in powdered form, requiring strict safety measures to prevent fire hazards in manufacturing and handling.
Magnesium is highly flammable, especially in powdered or thinly shaved forms, posing significant fire and explosion hazards in manufacturing and handling. Magnesium is highly flammable, burning at a high temperature and is difficult to put out and may catch fire with high temperatures or gas sparks. A magnesium fire cannot be extinguished by water, since the water reacts violently with magnesium and releases hydrogen gas, which keeps feeding the fire. Class D fire extinguishers or dry sand, instead, are needed to suppress such fires. Because of the hazards, companies handling magnesium alloys must establish rigorous safety measures, which include proper ventilation, dust collection systems, and fireproof storage conditions. In some applications, fire risk is mitigated by use of coating and alloying techniques. Such substantial precautionary measures can be attributed to magnesium being a highly flammable metal. This poses a massive threat in highly regulated industries such as aerospace, automotive, and defense due to strict policies and guidelines on fire safety. Having proper risk management strategies are necessary to ensure magnesium alloys can be handled and processed safely in industrial practice.
By Alloy Type
Cast alloys segment dominated with a market share of over 62% in 2023, due to their widespread application in automotive, aerospace, and electronics industries. Which all factors makes them super desirable for mass production, Low weight, High strength-to-weight ratio, economic harvest. These alloys are used by automotive manufacturers in engine blocks, transmission cases, and wheels, contributing to mass savings and fuel efficiency. In the aerospace industry, for example, cast magnesium alloys help make aircraft lighter without sacrificing strength which improves overall performance. Their impressive thermal conductivity also benefits the electronics sector, making them ideal materials in laptop casings, mobile devices, and even camera bodies. Cast magnesium alloys are the most dominant segment of the market due to the molding ease of complex shapes and the recyclability of dropped pieces.
By End-use Industry
The Aerospace & Defense segment dominated with a market share of over 38% in 2023, due to the industry's increasing reliance on lightweight materials for enhanced fuel efficiency and superior performance. Magnesium alloys have a superb solid strength-to-weight ratio and are ideal for aircraft structures, missile components, and other defense equipment. They have advantages such as corrosion resistance and ability to work in extreme conditions, further fuelling their increasing deployment in both the military and commercial aviation sectors. With aerospace manufacturers looking for ways to improve fuel economy and achieve sustainability goals, the demand for magnesium alloys is increasing. This is due both to newer alloy compositions as well as specific manufacturing processes that further the applications of magnesium alloys in aircraft and defense components, maintaining the segment in leading position in global magnesium alloys market.
Asia-Pacific region dominated with a market share of over 42% in 2023, primarily driven by the strong presence of the automotive, aerospace, and electronics industries in countries such as China, Japan, and South Korea. Availability of raw material in the region helps in driving down the cost of production and assured availability of supply. Its growing acceptance is also buoyed by the increasingly economical manufacturing processes used to produce it and rising demand for lightweight materials in transportation and consumer electronics. In particular, China is leading by the high magnesium production capacity as well as the growing Chinese industrial industry. Furthermore, the increasing production of magnesium alloys for electric vehicles (EVs), aircraft parts, and mobile phones propels the market advance. Supportive government initiatives for sustainable and high-performance materials continues to be one of the factors that is central to Asia-Pacific remaining a key & governing region for this market.
North America is emerging as the fastest-growing region in the Magnesium Alloys Market, driven by the rising adoption of lightweight materials in the automotive and aerospace industries. A major driver for market growth is the growing focus on higher fuel economy and lower emissions, which has resulted in the adoption of magnesium alloys for use in vehicle and aircraft components. This expansion is led in the USA, with plant-based advanced materials being adopted by many manufacturing giants like automotive companies and aerospace manufacturers for improved performance and sustainability. Also, innovation driven technologies along with government initiatives to support the lightweight, high strength materials propels the market growth. North America is forecast to maintain this rapid pace of growth over the coming years, due in part to their strong innovation focus in combination with increasing demand for EVs and next generation aircraft in the region.
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Suppliers for (Magnesium alloy plates, sheets, rods, billets, and profiles) on Magnesium Alloys Market
Luxfer MEL Technologies
MAHLE GmbH
Xi'an XYMCO Magnesium Alloy Materials Co., Ltd.
Lee Kee Group
Luoyang Maige Magnesium Industry Co., Ltd.
Nippon Kinzoku Co., Ltd.
Mishra Dhatu Nigam Limited (MIDHANI)
Magnesium Elektron
Dead Sea Magnesium Ltd.
US Magnesium LLC
In May 2024: Latrobe Magnesium Ltd (ASX: LMG, OTC: LTRBF) reached a breakthrough by successfully producing magnesium oxide (MgO) from brown coal fly ash waste at its 1,000-tonne-per-year Stage 1 Demonstration Plant in Victoria's Latrobe Valley. This innovative and eco-friendly process reduces CO₂ emissions by 60% compared to the industry standard.
In March 2023: Western Magnesium Corporation announced plans to build a commercial plant and R&D Centre in Nevada, with an initial production of 25,000 tonnes per year. The company will also relocate its West head office to the new site. Nevada was chosen for its dry climate, ideal for magnesium stockpiling, and proximity to the Tami Mosi dolomite source. Favorable tax policies, fast licensing, and strong infrastructure further support the expansion.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 2.18 Billion |
| Market Size by 2032 | USD 7.51 Billion |
| CAGR | CAGR of 14.74% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Alloy Type (Cast Alloys, Wrought Alloys) • By End-use Industry (Automotive & Transportation, Electronics, Aerospace & Defense, Power Tools, Others [Medical, Sporting Goods]) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Magontec, Meridian Lightweight Technologies, Ka Shui International Holdings Ltd., US Magnesium, Shanghai Regal Magnesium Ltd. Co., Magnesium Elektron, Nanjing Yunhai Special Metals Co. Ltd., POSCO, RIMA Group, Smiths Advanced Metals, Dead Sea Magnesium Ltd., Wintime Group, AMACOR, Norsk Hydro, China Magnesium Corporation, Luxfer MEL Technologies, Qinghai Salt Lake Magnesium Co., Ltd., Shanxi Yinguang Magnesium Industry, Latrobe Magnesium, Western Magnesium Corporation. |
Ans: The Magnesium Alloys Market is expected to grow at a CAGR of 14.74% during 2024-2032.
Ans: The Magnesium Alloys Market was USD 2.18 billion in 2023 and is expected to reach USD 7.51 billion by 2032.
Ans: The growing demand for magnesium alloys in automotive and aerospace industries is driven by their lightweight properties, enhancing fuel efficiency, performance, and sustainability.
Ans: The “Cast alloys” segment dominated the Magnesium Alloys Market.
Ans: Asia-Pacific dominated the Magnesium Alloys Market in 2023.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.2 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Output, by Region (2020-2023)
5.2 Consumption Patterns, by Region (2020-2023)
5.3 Capacity Utilization Rates, by Region (2020-2023)
5.4 Technological Advancements in Magnesium Alloy Processing, by Region
5.5 Import/Export Trends, by Region (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Magnesium Alloys Market Segmentation, By Alloy Type
7.1 Chapter Overview
7.2 Cast Alloys
7.2.1 Cast Alloys Market Trends Analysis (2020-2032)
7.2.2 Cast Alloys Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Wrought Alloys
7.3.1 Wrought Alloys Market Trends Analysis (2020-2032)
7.3.2 Wrought Alloys Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Magnesium Alloys Market Segmentation, By End-use Industry
8.1 Chapter Overview
8.2 Automotive & Transportation
8.2.1 Automotive & Transportation Market Trends Analysis (2020-2032)
8.2.2 Automotive & Transportation Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Electronics
8.3.1 Electronics Trends Analysis (2020-2032)
8.3.2 Electronics Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Aerospace & Defense
8.4.1 Aerospace & Defense Market Trends Analysis (2020-2032)
8.4.2 Aerospace & Defense Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Power Tools
8.5.1 Power Tools Market Trends Analysis (2020-2032)
8.5.2 Power Tools Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Others
8.6.1 Others Market Trends Analysis (2020-2032)
8.6.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6.3 Medical
8.6.3.1 Medical Market Trends Analysis (2020-2032)
8.6.3.2 Medical Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6.4 Sporting Goods
8.6.4.1 Sporting Goods Market Trends Analysis (2020-2032)
8.6.4.2 Sporting Goods Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Regional Analysis
9.1 Chapter Overview
9.2 North America
9.2.1 Trends Analysis
9.2.2 North America Magnesium Alloys Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.2.3 North America Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.2.4 North America Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.2.5 USA
9.2.5.1 USA Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.2.5.2 USA Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.2.6 Canada
9.2.6.1 Canada Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.2.6.2 Canada Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.2.7 Mexico
9.2.7.1 Mexico Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.2.7.2 Mexico Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Trends Analysis
9.3.1.2 Eastern Europe Magnesium Alloys Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.1.3 Eastern Europe Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.1.4 Eastern Europe Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.1.5 Poland
9.3.1.5.1 Poland Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.1.5.2 Poland Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.1.6 Romania
9.3.1.6.1 Romania Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.1.6.2 Romania Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.1.7 Hungary
9.3.1.7.1 Hungary Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.1.7.2 Hungary Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.1.8 Turkey
9.3.1.8.1 Turkey Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.1.8.2 Turkey Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.1.9 Rest of Eastern Europe
9.3.1.9.1 Rest of Eastern Europe Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.1.9.2 Rest of Eastern Europe Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2 Western Europe
9.3.2.1 Trends Analysis
9.3.2.2 Western Europe Magnesium Alloys Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.2.3 Western Europe Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.4 Western Europe Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.5 Germany
9.3.2.5.1 Germany Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.5.2 Germany Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.6 France
9.3.2.6.1 France Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.6.2 France Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.7 UK
9.3.2.7.1 UK Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.7.2 UK Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.8 Italy
9.3.2.8.1 Italy Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.8.2 Italy Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.9 Spain
9.3.2.9.1 Spain Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.9.2 Spain Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.10 Netherlands
9.3.2.10.1 Netherlands Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.10.2 Netherlands Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.11 Switzerland
9.3.2.11.1 Switzerland Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.11.2 Switzerland Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.12 Austria
9.3.2.12.1 Austria Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.12.2 Austria Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.3.2.13 Rest of Western Europe
9.3.2.13.1 Rest of Western Europe Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.3.2.13.2 Rest of Western Europe Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4 Asia Pacific
9.4.1 Trends Analysis
9.4.2 Asia Pacific Magnesium Alloys Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.4.3 Asia Pacific Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.4 Asia Pacific Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.5 China
9.4.5.1 China Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.5.2 China Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.6 India
9.4.5.1 India Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.5.2 India Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.5 Japan
9.4.5.1 Japan Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.5.2 Japan Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.6 South Korea
9.4.6.1 South Korea Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.6.2 South Korea Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.7 Vietnam
9.4.7.1 Vietnam Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.2.7.2 Vietnam Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.8 Singapore
9.4.8.1 Singapore Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.8.2 Singapore Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.9 Australia
9.4.9.1 Australia Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.9.2 Australia Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.4.10 Rest of Asia Pacific
9.4.10.1 Rest of Asia Pacific Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.4.10.2 Rest of Asia Pacific Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5 Middle East and Africa
9.5.1 Middle East
9.5.1.1 Trends Analysis
9.5.1.2 Middle East Magnesium Alloys Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.1.3 Middle East Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.1.4 Middle East Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.1.5 UAE
9.5.1.5.1 UAE Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.1.5.2 UAE Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.1.6 Egypt
9.5.1.6.1 Egypt Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.1.6.2 Egypt Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.1.7 Saudi Arabia
9.5.1.7.1 Saudi Arabia Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.1.7.2 Saudi Arabia Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.1.8 Qatar
9.5.1.8.1 Qatar Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.1.8.2 Qatar Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.1.9 Rest of Middle East
9.5.1.9.1 Rest of Middle East Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.1.9.2 Rest of Middle East Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.2 Africa
9.5.2.1 Trends Analysis
9.5.2.2 Africa Magnesium Alloys Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.2.3 Africa Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.2.4 Africa Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.2.5 South Africa
9.5.2.5.1 South Africa Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.2.5.2 South Africa Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.2.6 Nigeria
9.5.2.6.1 Nigeria Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.2.6.2 Nigeria Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.5.2.7 Rest of Africa
9.5.2.7.1 Rest of Africa Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.5.2.7.2 Rest of Africa Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.6 Latin America
9.6.1 Trends Analysis
9.6.2 Latin America Magnesium Alloys Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.6.3 Latin America Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.6.4 Latin America Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.6.5 Brazil
9.6.5.1 Brazil Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.6.5.2 Brazil Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.6.6 Argentina
9.6.6.1 Argentina Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.6.6.2 Argentina Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.6.7 Colombia
9.6.7.1 Colombia Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.6.7.2 Colombia Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Magnesium Alloys Market Estimates and Forecasts, By Alloy Type (2020-2032) (USD Billion)
9.6.8.2 Rest of Latin America Magnesium Alloys Market Estimates and Forecasts, By End-use Industry (2020-2032) (USD Billion)
10. Company Profiles
10.1 Magontec
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
110.1.4 SWOT Analysis
10.2 Meridian Lightweight Technologies
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 SWOT Analysis
10.3 Ka Shui International Holdings Ltd.
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 SWOT Analysis
10.4 US Magnesium
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 SWOT Analysis
10.5 Shanghai Regal Magnesium Ltd. Co.
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 SWOT Analysis
10.6 Magnesium Elektron
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 SWOT Analysis
10.7 Nanjing Yunhai Special Metals Co. Ltd.
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 SWOT Analysis
10.8 POSCO
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 SWOT Analysis
10.9 RIMA Group
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
10.10 Smiths Advanced Metals
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
11. Use Cases and Best Practices
12. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Market Segments
By Alloy Type
Cast Alloys
Wrought Alloys
By End-use Industry
Automotive & Transportation
Electronics
Aerospace & Defense
Power Tools
Others
Medical
Sporting Goods
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Detailed Volume Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Competitive Product Benchmarking
Geographic Analysis
Additional countries in any of the regions
Customized Data Representation
Detailed analysis and profiling of additional market players
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The Metal Casting Market Size was USD 141.9 billion in 2023 and is expected to reach USD 225.7 billion by 2032 and grow at a CAGR of 5.3% by 2024-2032.
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