Trending...
- Psychologist-Turned-Hermeticist Releases Modern Guide to the Seven Hermetic Principles
- Spartan & Guardians Partner with Guitar Legend Buckethead to Support Global Child Rescue Efforts
- Preliminary.online Introduces Short-Term Job-Readiness Courses with Employer-Verified Certifications
SAN FRANCISCO, May 20, 2020 /PRNewswire/ -- The global magnesium alloys market size is expected to reach USD 6.62 billion by 2027 registering a CAGR of 9.9%, according to a new report by Grand View Research, Inc. Increasing magnesium content per vehicle is projected to drive the demand of magnesium alloys products over the next forecast period.
Auto manufacturers are now shifting to lightweight materials, such as magnesium, aluminum, and composite materials, to reduce the emissions from vehicles. Rising preference for fuel-efficient vehicles is projected to boost the usage of such lightweight materials, thereby augmenting the product demand.
Key suggestions from the report:
Read 112 page research report with ToC on "Magnesium Alloys Market Size, Share & Trends Analysis Report By Application (Automotive & Transportation, Aerospace & Defense, Electronics), By Region (MEA, North America, APAC), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/magnesium-alloys-market
More on The Californer
In terms of mass, magnesium is the lightest metallic material used in the die casting process. Magnesium alloys have 30% lesser density than aluminum, which boosts their usage in vehicles and aerospace applications. Also, as compared to aluminum and steel, these components can save nearly 25 to 40% and 55% of weights respectively.
Aerospace & defense sector is projected to provide numerous growth opportunities for the market as the product is widely used in airplane structures. China is a key producer of magnesium and accounted for more than 80% of the production in 2018, as per data published by the United States of Geological Survey. However, recent outbreak of coronavirus disease (COVID-19) is projected to hinder market growth in the country.
Numerous companies and research institutes are investing in R&D for the development of advanced products. This is likely to have a positive impact on the market growth. For instance, in July 2019, Monash University found a technique that can be useful in producing lightweight and stronger alloys for automotive and aircraft applications.
Grand View Research has segmented the global magnesium alloys market on the basis of application and region:
Find more research reports on Advanced Interior Materials Industry, by Grand View Research:
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
More on The Californer
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
Auto manufacturers are now shifting to lightweight materials, such as magnesium, aluminum, and composite materials, to reduce the emissions from vehicles. Rising preference for fuel-efficient vehicles is projected to boost the usage of such lightweight materials, thereby augmenting the product demand.
Key suggestions from the report:
- The automotive & transportation was the largest application segment in 2019 and is likely to expand further at the fastest CAGR during the forecast period
- The growth of the segment is attributed to incessant production of vehicles and increasing magnesium content per vehicle
- Asia Pacific held the highest volume share in 2019 and is projected to maintain its position during the forecast period
- Rapid expansion of the automotive sector and increasing demand for electric vehicles (EVs) are anticipated to remain key drivers for the regional market
- Key vendors in the global market are Magontec Ltd.; Magnesium Elektron Ltd.; Ka Shui International Holdings Ltd.
Read 112 page research report with ToC on "Magnesium Alloys Market Size, Share & Trends Analysis Report By Application (Automotive & Transportation, Aerospace & Defense, Electronics), By Region (MEA, North America, APAC), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/magnesium-alloys-market
More on The Californer
- John Duffy Competes in Mr Muscle Beach
- New Release: 'The Invisible Alternative' Unveiled by Atrisk Corporation, Resilient
- Thorn & Bloom Magazine Unveils Groundbreaking Second Edition: "Breaking the Cycle"
- Cheap O SMS Launches Groundbreaking Free SMS API Service
- California: Governor Newsom signs legislation 7.3.25
In terms of mass, magnesium is the lightest metallic material used in the die casting process. Magnesium alloys have 30% lesser density than aluminum, which boosts their usage in vehicles and aerospace applications. Also, as compared to aluminum and steel, these components can save nearly 25 to 40% and 55% of weights respectively.
Aerospace & defense sector is projected to provide numerous growth opportunities for the market as the product is widely used in airplane structures. China is a key producer of magnesium and accounted for more than 80% of the production in 2018, as per data published by the United States of Geological Survey. However, recent outbreak of coronavirus disease (COVID-19) is projected to hinder market growth in the country.
Numerous companies and research institutes are investing in R&D for the development of advanced products. This is likely to have a positive impact on the market growth. For instance, in July 2019, Monash University found a technique that can be useful in producing lightweight and stronger alloys for automotive and aircraft applications.
Grand View Research has segmented the global magnesium alloys market on the basis of application and region:
- Magnesium Alloys Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Automotive & Transportation
- Aerospace & Defense
- Electronics
- Others
- Magnesium Alloys Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Russia
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
- Saudi Arabia
Find more research reports on Advanced Interior Materials Industry, by Grand View Research:
- Steel Fiber Market – Increasing non-structural application of steel fiber through reinforcement in construction sector is the key factor driving the growth.
- Automotive Air Filters Market – Rising product demand from the automotive industry owing to stringent government regulations for vehicle emission is estimated to fuel the market growth over the forecast period.
- Digital Mining Market – The growing need for safety of mine workers on account of increasing injuries during mining is one of the primary drivers for the rise in demand for digital mining solutions.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
More on The Californer
- Fireworks, fun, and safety: California preps for the holiday weekend
- BillBoards Inc. Hits the Road with God Bless America Tour and Reality Series Now Streaming on Tubi TV
- Legacy vs. Legacy Gala: Celebrating the Past, Powering the Future of the L.A. Watts Summer Games
- Orion Retreats: Pioneering the Future of Conscious Leadership and Luxury Wellness Tourism
- Cynthia Pinot Among Artists Selected for Renowned London Art Biennale 2025
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
Filed Under: Business
0 Comments
Latest on The Californer
- DetailAxis Unveils it's 'Business Engine': Powerful AI Systems for Auto Appearance Pros
- California: Governor Newsom announces appointments 7.2.25
- The Herbal Care, Led by Markel Bababekov, Becomes a Top Dispensary in NYC's Upper East Side
- Digital Watchdog Launches New myDW Cloud Services
- Governor Newsom honors fallen California Highway Patrol Officer Miguel Cano
- Stan Fitzgerald Appointed Acting Press Secretary for Veterans for America First VFAF Georgia State Chapter
- Drone Light Shows Emerge as the New Standard in Live Event Entertainment
- Lore Link is Here to Help Organize Your Game
- Governor Newsom marks historic expansion of California's Film and Television Tax Credit Program, announces 16 new projects to film in the Golden State
- Talar Guedikian Named Winner of 2025 AAJ Paralegal of the Year Award, Sponsored by Advocate Capital
- Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
- California: Did gas prices go up by 65 cents at the pump? No.
- Snell & Wilmer Welcomes Associate Victoria Cendejas to the Orange County Office
- Crime in California drops again — state records second-lowest homicide rate since 1966
- FireAid Donates $75,000 To California Strong To Distribute To Palisades and Eaton Fire Victims
- Celebrate Safely: 4th of July BBQ & Celebration Essentials from Mercury Insurance
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities