According to the current analysis of Reports and Data, the global Magnesium Alloys market was valued at USD 3,969.0 Million in 2020 and is expected to reach USD 4,254.9 Million by 2028, at a CAGR of 11.80%. Owing to its ability to absorb energy, low density, extensive heat dissipation capacity, vibration absorption, high elasticity modulus, and high impact bearing capacity, magnesium alloys are considered unique. The demand of the consumers for light-weight vehicles to enhance the performance of these vehicles is expected to drive the market growth. An increase in the disposable income of consumers has led to an increase in demand for electronic equipment like cell phones, computers, laptops, cameras, and portable media device housing, which is expected to drive the market of magnesium alloys during the forecast period. Additionally, owing to its ability to form complex shapes, magnesium alloys are suitable in sports sector for producing various sports equipment like golf clubs, javelins, tennis rackets, and archery bows.

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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), Rima Group (Brazil), Smiths Advanced Metals (UK), Shanxi Fugu Tianyu Mineral Industry (China) are some of the key players in Magnesium Alloys Market.

Further key findings from the report suggest

  • Asia Pacific is considered to be the largest market shareholder in 2018 and stays the largest shareholder through the forecast period. In the Asia Pacific, the market is majorly driven by China and South Korea due to an increase of magnesium alloys in computers, cell phones, body structures, and power trains consumer electronics in these countries.
  • Magnesium alloys are non-toxic in nature, which makes it useful in healthcare and medical industry. For example, magnesium alloys are being used as biodegradable implants in the human body.
  • Asia Pacific region is predicted to hold 28.3% of the global magnesium alloys market. Developing countries such China and India are likely to witness high growth in the magnesium alloys market.
  • AZ-based magnesium alloys are produced by mixing aluminum and zinc elements in appropriate proportions in purified magnesium metal.

For the purpose of this report, Reports and Data has segmented the Magnesium Alloys market on the basis of alloy type, end-use industry, and region:

Alloy Type (Revenue in USD Million; Volume in Tons, 2018–2028)

  • Cast Alloys
  • Wrought Alloys
  • Others

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End-Use Industry (Revenue in USD Million; Volume in Tons, 2018–2028)

  • Automotive & Transportation
  • Electronics
  • Aerospace & Defense
  • Power Tools
  • Others

Regional Outlook (Revenue in USD Million; Volume in Tons, 2018–2028)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan

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