DUBLIN--(BUSINESS WIRE)--The "Magnesium Alloy Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The magnesium alloy market is expected to register a CAGR of approximately 4%, globally, during the forecast period.
- Magontec Industry Ltd
- Nanjing Welbow Metals Co. Ltd (RSM)
- Shanghai Regal Magnesium Limited Company
- Hydro Magnesium
- Dead Sea Magnesium Ltd
- US Magnesium LLC
- Salzgitter Magnesium-Technologie GmbH
- Ka Shui International Holdings Ltd
- Jinwantong Magnesium Industry Co. Ltd
- Smiths Advanced Metals
- Rima Group
- Advanced Magnesium Alloys Corporation (AMACOR)
- Nippon Kinzoku
Key Market Trends
Increasing Demand from the Automotive Manufacturing Industries
The applications of magnesium alloys offer various benefits. They are employed in the engine block and wheels production, which, in turn, supports weight reduction, especially for sports cars.
- Automotive manufacturers have been using magnesium alloys in production to reduce weight, thereby, increasing the fuel efficiency and performance of automobiles. Magnesium alloys are preferred in engine blocks, as they are resistant to higher temperatures.
- Many large automotive manufacturers, like Audi, Mercedes-Benz, Ford, Jaguar, Fiat, and Kia Motors Corporation, have already replaced steel and aluminum with magnesium alloys in their vehicles.
- Magnesium alloys possess excellent impact resistance, and they absorb shocks and vibrations while traveling, in turn, providing a subtle and comfortable drive to the consumers. Magnesium alloys are also eco-friendly, as these alloys are recyclable.
Asia Pacific is Expected to Dominate the Market Studied
Asia-Pacific is expected to dominate the global market, owing to the highly developed automotive sector in China, coupled with the developing production of aerospace components in recent years.
- Magnesium alloys have been increasingly used in the electronics industry, owing to the huge electronic production bases in China, Taiwan, and South Korea, for the production of cameras, cell phones, laptops, and portable media devices.
- According to the US International Trade Commission, China leads the market and exports a large quantity of magnesium alloys to Europe and North America, because of the large number of magnesium alloy manufacturing industries in the country.
- Moreover, the growth of various manufacturing industries in China, India, and other ASEAN countries is expected to support the demand for magnesium alloys in the future.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Need for Weight Reduction
4.1.2 Increasing Demand for Castings in Electronic Applications
4.2.1 Competition from Substitutes
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Cast Alloys
5.1.2 Wrought Alloys
5.2 By End User
5.2.6 Other End Users
5.3 By Geography
5.3.1 Asia Pacific
188.8.131.52 South Korea
184.108.40.206 Rest of Asia Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand from Engineering Light Weight Applications
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/bqfc08