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Dublin, June 9, 2021 (Global News Agency) – “Magnesium alloy market size, share and analysis, by alloy type (cast alloy, forged alloy), by end-use industry (automotive and transportation, electronics, aerospace and defense, power tools) and by region, forecast to 2028” Report has been added to ResearchAndMarkets.com provide.
It is estimated that the global magnesium alloy market will reach US$4.2549 billion in 2028, with a compound annual growth rate of 11.8% during the forecast period.
The rapid popularization of electric vehicles and the increasing number of government support measures are key factors driving market revenue growth. The emergence and implementation of innovative processes such as new rheological casting and thixoforming.
People are becoming more and more aware of the advantages of using magnesium alloys over other alloys, increasing the consumption of products in various applications including artificial organ implants, as well as in various industries such as aerospace, defense, and healthcare. The more magnesium alloys are used, these are the main factors that are expected to help achieve this goal. Drive market growth to a large extent.
The demand for magnesium alloys used in the production of jet engine fan frames, spacecraft, transmission castings, etc. continues to increase. The world’s investment in the field of defense continues to increase, and the increasing demand for technologically advanced light commercial aircraft is other major factors. Factors that are expected to drive the growth of the global magnesium alloy market.
However, fluctuations in the cost of magnesium and the challenges associated with magnesium alloy welding and corrosion are factors that may hinder market growth to a certain extent.
Some of the main findings in the report:
- In the alloy type segment market, due to the increasing demand for products from the automotive and transportation industries and manufacturing industrial equipment, the casting alloy segment will account for a major share of revenue in 2020.
- The forged alloys segment will account for the second largest revenue share of the global magnesium alloy market in 2020 because of its widespread use of forged alloys in industries such as electronics, aerospace, and defense.
- In the end-use segment, aerospace and defense accounted for a high share of revenue in 2020 due to the increasing demand and demand for high-performance and low-weight materials used in the production of aircraft.
- Due to the rapid growth of end-use industries such as automotive, aerospace, and electronics, as well as the increase in magnesium alloy consumption in industrial applications, the magnesium alloy market in the Asia-Pacific region will account for a major share of revenue in 2020.
- The North American magnesium alloy market accounted for the second largest revenue share in 2020 due to the development of the automotive and aerospace industries, the focus of manufacturers, and government support for the production of technologically advanced light aircraft and spacecraft.
- Due to the increase in sales of electric vehicles (EV), the strong propensity to purchase innovative and advanced vehicles and electronic products, and the increasing investment in defense, the European magnesium alloy market is expected to record a high compound annual growth rate during the forecast period. Government and corporate manufacturing Department of high-tech aircraft.
- Market participants have adopted various strategies, including mergers, acquisitions, partnerships, and new product development strategies to maintain their competitive advantage and expand their market footprint.
Key topics covered:
Chapter 1 Market Overview
Chapter 2 Executive Summary
Chapter 3 Indicative Indicators
3.1. Acquisitions and mergers
3.2. New product release
3.3. Innovation in the performance of magnesium alloys
3.4. Government regulations on the use of magnesium
Chapter 4 Magnesium Alloy Subdivision and Impact Analysis
4.1. Magnesium alloy segmentation analysis
4.2. 2018-2028 magnesium alloy market value chain analysis
4.3. Regulatory framework
4.4. Analysis of Magnesium Alloy Market Impact
4.4.1. Analysis of market drivers
4.4.1.1. High demand for smartphones and laptops
4.4.1.2. Improve applicability in various fields
4.4.2. Analysis of market constraints
4.4.2.1. Corrosion risk
4.4.2.2. The uncertainty of magnesium price
4.5. Prioritized key opportunities
4.6. Magnesium alloy price analysis
4.7. Industry Analysis-Porter’s
4.8. PESTEL analysis of magnesium alloy
Chapter 5 Magnesium Alloy Market Insights and Trends by Alloy Type
5.1. Magnesium alloy type dynamics and market share in 2021 and 2028
5.2. Casting alloy
5.3. Forging
5.4. Other
Chapter 6 Magnesium Alloy Market Industry Insights and Trends by End Use
6.1. Magnesium alloy terminal industry dynamics and market share in 2021 and 2028
6.2. Cars and transportation
6.3. Electronic products
6.4. Aerospace and Defense
6.5. Electric tools
Chapter 7 Regional Outlook of Magnesium Alloy Market
7.1. Magnesium alloy market share by region in 2021 and 2028
Chapter 8 Competitive Landscape
8.1. Manufacturer’s Market Revenue Share
8.2. Analysis of manufacturing cost breakdown
8.3. Mergers and acquisitions
8.4. Strategic benchmarking
8.5. Supplier landscape
Chapter 9 Company Profile
- Elektron (UK)
- Nanjing Yunhai Special Metal Co., Ltd. (China)
- Jiarui International Holdings Limited (China)
- American Magnesium
- Meridian Lightweight Technologies (United States)
- Magonite (Australia)
- Shanghai Regal Magnesium Co., Ltd. (China)
- Rima Group (Brazil)
- Smiths Advanced Metals (UK)
- Shanxi Fugu Tianyu Mineral Industry (China)
For more information about this report, please visit https://www.researchandmarkets.com/r/55y55u
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