Magnesium Alloys Market worth 2.37 Billion USD by 2023

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The Magnesium Alloys Market Global Industry Research Report is estimated to grow from USD 1.16 Billion in 2017 to USD 2.37 Billion by 2023, at a CAGR of 12.7% during the forecast period.

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Key manufacturers of magnesium alloys include Magnesium Elektron (UK), Ka Shui International Holdings Ltd. (China), Magontec (Australia), US Magnesium LLC (US), Nanjing Yunhai Special Metals Co. Ltd., and Meridian Lightweight Technologies (US).

The base year considered for the study is 2017, and the market size is projected for the period between 2018 and 2023. The increase in the use of magnesium alloys in the automotive & transportation and electronics end-use industries is expected to drive the market in the coming years.

Objectives of the Study:

The report analyzes the global magnesium alloys market, in terms of volume (kilotons) and value (USD million). The report also estimates the size and growth potential of the magnesium alloys market across different segments, such as end-use industries, alloy type, and region. It forecasts the market size for five regions, namely APAC, North America, Europe, Middle East & Africa, and Latin America. The study also covers market opportunities and competitive landscape for stakeholders and market leaders.

The research methodology used to estimate and forecast the magnesium alloys market begins with gathering data on key company revenues and raw material costs through secondary sources, such as International Magnesium Association, American Foundry Society, Factiva, D&B Hoovers, Manta, and others. Product offerings are also taken into consideration to determine the market segmentation. The bottom-up approach was used to arrive at the overall size of the magnesium alloys market from the revenue of key players. After arriving at the total market size, the overall market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with CEOs, VPs, directors, and key executives from related industries. Data triangulation and market breakdown procedures were used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the magnesium alloys market.

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List of Figures (37 Figures)

 

Figure 1 Magnesium Alloys: Market Segmentation

Figure 2 Magnesium Alloys Market: Research Design

Figure 3 Market Size Estimation Methodology: Bottom-Up Approach

Figure 4 Market Size Estimation Methodology: Top-Down Approach

Figure 5 Cast Alloys to Register the Highest CAGR in the Magnesium Alloys Market

Figure 6 Automotive & Transportation to Be the Largest End-Use Industry of Magnesium Alloys

Figure 7 APAC to Be the Fastest-Growing Market for Magnesium Alloys

Figure 8 Growth Opportunities in the Magnesium Alloys Market Between 2018 and 2023

Figure 9 Cast Alloys to Lead the Magnesium Alloys Market

Figure 10 Automotive & Transportation to Dominate the Magnesium Alloys Market

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