DUBLIN--(BUSINESS WIRE)--The "Magnesium Alloys Market by Alloy Type (Cast Alloys, Wrought Alloys), End-use Industry (Automotive & Transportation, Electronic, Aerospace & Defense, Power Tools), and Region (APAC, Europe, North America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The magnesium alloys market is estimated at USD 1.30 billion in 2018 and is projected to reach USD 2.37 billion by 2023, at a CAGR of 12.7% during the forecast period.
The major factor driving the growth of the market is the increasing demand for magnesium alloys from the automotive & transportation applications due to fuel efficiency and emission regulations. However, the uncertainty of magnesium prices may restrain the growth of the market.
Magnesium alloys possess excellent casting properties and cast alloys are cheaper than wrought alloys. In addition, issues such as low extrusion rate of and formability at room temperature of magnesium alloys have made it challenging to use magnesium alloys in the form of wrought alloys. The growing demand from automotive & transportation, aerospace & defense, and electronics end-use industries for cost-efficient alloys is driving the growth of the cast alloy segment.
Asia Pacific is expected to be the fastest-growing market for magnesium alloys during the forecast period, with China leading the market in 2017. The magnesium alloys market in the Asia Pacific region is driven by the increasing consumption of magnesium alloys products in the automotive & transportation and electronics applications.
This report also provides a comprehensive analysis of the companies listed below:
- Magnesium Elektron (UK)
- Nanjing Yunhai Special Metals Co. Ltd. (China)
- Ka Shui International Holdings Ltd. (China)
- US Magnesium (US)
- Meridian Lightweight Technologies (US)
- Shanghai Regal Magnesium Ltd. Co. (China)
- Magontec (Australia)
- Shanxi Credit Magnesium Co. Ltd. (China)
- Shanxi Yinguang Huasheng Magnesium (China)
- AMACOR (US)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Overview and Key Trends
7 Magnesium Alloys Market, By Alloy Type
8 Magnesium Alloys Market, By End-Use Industry
9 Magnesium Alloys Market, By Region
10 Competitive Landscape
11 Company Profiles
- Magnesium Elektron
- KA Shui International Holdings Ltd.
- U.S. Magnesium
- Nanjing Yunhai Special Metals Co. Ltd.
- Meridian Lightweight Technologies
- Shanghai Regal Magnesium Limited Company
- Shanxi Yinguang Huasheng Magnesium
- Shanxi Credit Magnesium Co. Ltd.
- Shanxi Fugu Tianyu Mineral Industry
- China Magnesium Corporation Limited
- Dead Sea Magnesium
- Spartan Light Metal Products
- Smiths Advanced Metals
- Rima Group
- Yee Dongguan Science and Technology Co. Ltd.
- Taiyuan Tongxiang Magnesium Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/3wg9mh/magnesium_alloys?w=4