Magnesium Market by Application (Aluminum Alloys, Die Casting, Titanium Refining, Steel Desulfurization, and Others) and Geography (APAC, Europe, MEA, North America, and South America) | COVID-19 Impact Analysis | Technavio

Technavio has announced its latest market research report titled Global Magnesium Market 2020-2024 (Graphic: Business Wire)

LONDON--()--Technavio has been monitoring the magnesium market and it is poised to grow by 390.21 k MT during 2020-2024, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43562

This Report Addresses:

  • The market size from 2020-2024
  • Expected market growth until 2024
  • Forecast of how market drivers, restraints, and future opportunities will affect the market dynamics
  • Segments and regions that will drive or lead market growth and why
  • Comprehensive mapping of the competitive landscape
  • In-depth analysis of key sustainability strategies adopted by market players

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

Frequently Asked Questions-

  • What are the major trends in the market?
  • High demand for steel from various end-use industries is one of the major trends in the market.
  • At what rate is the market projected to grow?
  • Growing at a CAGR of almost 6%, the incremental growth of the market is anticipated to be 390.21 k MT.
  • Who are the top players in the market?
  • China Magnesium Corp., Israel Chemicals Ltd., Latrobe Magnesium Ltd., Magontec Ltd., POSCO Group, Rima Group, Shaanxi Tianyu Magnesium Industry Group Co. Ltd., US Magnesium LLC, VSMPO-AVISMA Corp., and Western Magnesium Corp. are some of the major market participants.
  • What are the key market drivers and challenges?
  • Growing demand for steel is one of the major factors driving the market. However, the availability of substitutes will restrain market growth.
  • How big is the APAC market?
  • The APAC region will contribute 76% of market growth.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. China Magnesium Corp., Israel Chemicals Ltd., Latrobe Magnesium Ltd., Magontec Ltd., POSCO Group, Rima Group, Shaanxi Tianyu Magnesium Industry Group Co. Ltd., US Magnesium LLC, VSMPO-AVISMA Corp., and Western Magnesium Corp. are some of the major market participants. The growing demand for steel will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Magnesium Market 2020-2024: Segmentation

Magnesium Market is segmented as below:

  • Application
    • Aluminum Alloys
    • Die Casting
    • Titanium Refining
    • Steel Desulfurization
    • Others
  • Geographic
    • APAC
    • Europe
    • North America
    • MEA
    • South America

Magnesium Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The magnesium market report covers the following areas:

  • Magnesium Market Size
  • Magnesium Market Trends
  • Magnesium Market Analysis

This study identifies high demand for steel from various end-use industries as one of the prime reasons driving the magnesium market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Magnesium Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist magnesium market growth during the next five years
  • Estimation of the magnesium market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the magnesium market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of magnesium market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019-2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Aluminum alloys - Market size and forecast 2019-2024
  • Die casting - Market size and forecast 2019-2024
  • Titanium refining - Market size and forecast 2019-2024
  • Steel desulfurization - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume driver- Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • China Magnesium Corp.
  • Israel Chemicals Ltd.
  • Latrobe Magnesium Ltd.
  • Magontec Ltd.
  • POSCO Group
  • Rima Group
  • Shaanxi Tianyu Magnesium Industry Group Co. Ltd.
  • US Magnesium LLC
  • VSMPO-AVISMA Corp.
  • Western Magnesium Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

     

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Global Magnesium Market will grow by 390.21 k MT during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/