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Metal Magnesium Market To Witness Growth Owing To Rising Demand From Automotive Sector Till 2022 | Million Insights

Metal Magnesium Market To Witness Growth Owing To Rising Demand From Automotive Sector Till 2022 | Million Insights

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According to new report available with Million Insights, Metal magnesium industry is driven by factors such as growing demand from automotive sector and rise in use of magnesium in aluminum alloys and die-casting is expected to drive the metal magnesium market in the assessment period.

Global metal magnesium market gains a positive traction in the forecast period owing to rise in commercial value of magnesium for various purposes. By nature, magnesium is a silvery white metal and is lightest of all metals available for commercial applications. Proportionately, magnesium is one of the abundant elements and can be acquired from various mineral sources, even from sea-water.

Magnesium metal offers plenty of versatility and enjoys wider applications across diverse set of industries. Prominent uses of magnesium metal encompass aluminum alloy production that affects improved physical properties and capability of such alloys. Die-casting is another prominent application area of metal magnesium. Its higher affinity of magnesium makes it an ideal for use in iron and steel desulphurization areas.

Full Research Report On Metal Magnesium Market Analysis available at: https://www.millioninsights.com/industry-reports/metal-magnesium-market

Magnesium is also used as a reducing agent in manufacture of metals such as uranium, titanium, hafnium and zirconium etc. Magnesium metal when compared with other alloys being light in nature and of significant density also helps in materializing the objective of light-automotive vehicle production. Thus, the market growth is expected to grow during the forecast period.

Metal magnesium industry is driven by factors such as growing demand from automotive sector and rise in use of magnesium in aluminum alloys and die-casting is expected to drive the metal magnesium market in the assessment period. Additionally, the wide applications of magnesium alloys in several sectors such as aerospace, automotive, packaging, printing and electronics is expected propels the market growth of metal magnesium industry. Moreover, rising demand for titanium particularly from aerospace applications is anticipated to boost the market growth.

However, factors such as low economic growth rate in some countries in the earlier stages are likely to impede the market growth in the forecast period. Metal magnesium industry is segmented into aluminum alloys, desulphurization, metal reduction and die-casting, based on application. Die-casting and aluminum alloys segment is expected to rise at a higher CAGR during the forecast period.

Based on geographic segmentation, the metal magnesium industry spans North America, Latin America, Europe Asia-Pacific, Middle-East and Africa. MEA regions are expected to rise at a higher CAGR in the forecast period owing to availability of abundant resources. APAC regions are also expected to rise at a higher CAGR in the forecast period owing to growth in industrialization and abundant reserves of natural minerals. Europe and North American market is expected to grow at higher moderate CAGR owing to development of eco-friendly technologies for automobile production.

The key players in the metal magnesium industry include Taiyuan Tongxiang Magnesium Co., Ltd, US Magnesium LLC, Wenxi YinGuang Magnesium Industry (Group) Co., Ltd, Dead Sea Magnesium Ltd, POSCO, RIMA Group, Solikamsk Magnesium Works OAO, Shanxi Wenxi Zhenxin Magnesium Co., Ltd, and Shanxi Wenxi Hongfu Magnesium Co., Ltd.

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Market Segment:

Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Metal Magnesium in these regions, from 2012 to 2022 (forecast), covering
• North America
• Europe
• China
• Japan
• Southeast Asia
• India

Global Metal Magnesium market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• US Magnesium
• International Magnesium Group
• China Magnesium Corporation
• Tongxiang Magnesium
• Yinguang Magnesium Industry
• Hui Ye Magnesium
• Taiyuan Yiwei Magnesium
• Shanxi Bada Magnesium Co., Ltd.
• SHANXI WENXI HONGFU MAGNESIUM
• Yulin Wanyuan Magnesium Industry (Group) Co., Ltd.
• Nanjing Yunhai
• Shanxi Meijin
• Shanxi Jinxing
• Shanxi Credit
• Fugu Tongyuan
• Fuguxian Coal&Chemical
• Fugu TianYu
• Shanxi Yanchang Petroleum Mining
• Shaanxi Xingmao Zhuluoji Coal Industry Magnesium Cell Group Co., Ltd.
• Haotian Group
• Xinheyuan
• Tianlong
• Huashun
• Fu Gu Yi De
• Shengxin Magnesium
• Jinchuan Magnesium
• Shenmu Dongfeng Magnesium
• Fugu County Xintian magnesium alloy Co., Ltd.
• Ningxia Huayi Magnesium
• Liaoning Jinding

On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Type I
• Type II

On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
• Electronics
• Aerospace
• Military
• Chemical
• Other

Related Reports of This Category Available at Million Insights:
https://www.millioninsights.com/industry/metals-and-mineral

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