Magnesium Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Australia, Russia, UK - Size and Forecast 2024-2028

Published: Jan 2024 Pages: 175 SKU: IRTNTR43562

Magnesium Market Forecast 2024-2028

The magnesium market size is projected to increase by USD 1.58 billion at a CAGR of 5.36% between 2023 and 2028. The market is driven by China's significant production of magnesium, although challenges persist due to the availability of metal substitutes. Despite this, the market shows promise, with a notable uptick in the utilization of magnesium-based materials, particularly in orthopedic implants. As demand grows for lightweight and durable materials in various industries, magnesium's unique properties position it as a valuable commodity with potential for widespread application, fueling market expansion and innovation.

What will be the Size of the Market During the Forecast Period?

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The market is experiencing significant growth driven by various sectors such as aerospace and automotive, particularly in electric vehicle manufacturing. Magnesium's lightweight properties make it an ideal choice for electric cars, leading to increased demand in automotive component manufacturing. Additionally, its ductility and electromagnetic properties make it suitable for die-casting and the production of plates and sheets used in industrial applications. As research and development ventures continue to explore magnesium's potential, its thermal heat capacity further enhances its appeal across multiple industries, positioning it as a pivotal material for future innovations in lightweight metals.

Market Segmentation

The application segment of the market sees extensive use of magnesium in various industries due to its favorable properties. It is widely employed in the production of aluminium alloy, enhancing their strength and ductility. The aerospace and automotive sectors benefit from magnesium's lightweight components, improving fuel efficiency in aircraft deliveries and electric cars. Additionally, magnesium's electromagnetic screening property makes it valuable in electronics manufacturing, while its heat conductivity is utilized in aerospace parts manufacturing. Despite fluctuations in metal prices, magnesium remains integral to the automotive and electronics industries, contributing to the development of durable and efficient components.

By Application

The die castings segment is estimated to witness significant growth during the forecast period. Magnesium is commonly utilized in the die-casting process due to its excellent properties that make it well-suited for manufacturing lightweight and durable components. By injecting molten Mg under high pressure into a moulid, the die-casting method makes it possible to create complex and accurate shapes with little need for post-processing.

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The die castings segment was the largest and was valued at USD 2.22 billion in 2018. The use of magnesium for die casting is increasing at a rapid rate, especially in the automotive sector. Lightweight materials are required for manufacturing powertrain parts, which withstand high temperatures and bear heavy loads. Features such as high strength-to-weight ratio, die castability, and damping capacity drive the use of Mg in the automotive industry. The thriving automotive sector will increase the use of Mg in die casting applications in wheels, chassis, suspension systems, and body panels. These factors will propel the growth of the die casting segment in the market during the forecast period.

Market Regional Insights

APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.

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Further, China is the major producer and consumer of Mg. In China, a new magnesium production plant in the Qinghai Province was completed in 2017, and it has a production capacity of 100,000 ton per year. The Government of China is expected to shut down some of the plants that produce magnesium using the Pidgeon (silicothermic reduction) process. Increased energy costs and challenges in compliance with the environmental regulations imposed by the government have led to the shutdown of these plants. China is likely to become the largest market for steel and aluminum, thereby accounting for a major share of the global demand for aluminum-magnesium alloys and Mg-based steel desulfurization.

In addition, the major contribution of magnesium to the country's infrastructure development was through the One Belt, One Road initiative, which aimed at promoting transport and trade between the Asian, European, and African countries. China is focusing on solar energy production to reduce its dependence on fossil fuels and the resulting environmental pollution. Hence, the growth of the construction industry is expected to drive the demand for aluminum and steel, which, in turn, will drive the growth of the regional market during the forecast period.

Market Dynamics and Customer Landscape

The market witnesses robust demand due to its diverse applications across industries like automotive and electronics, and aerospace. With properties like lightweight metal and excellent thermal heat capacity, magnesium alloys are favored for automotive component manufacturing, especially in electric vehicle manufacturing and electric vehicle production. This market's growth is also influenced by factors such as the prices of metals and advancements in tools and machinery. As aluminum alloys face competition, magnesium's unique electromagnetic property makes it increasingly relevant in various sectors. Supported by data from the Bureau of Transportation Statistics, the market for magnesium plates and sheets continues to expand, catering to evolving industry needs.

Key Market Driver

China accounts for a high production of magnesium is notably driving the market growth. Globally, China is the largest producer and consumer of magnesium. During 2000-2005, the high production led to excess supply from China, and the country started exporting Mg at low costs. The exports affected the domestic production in many countries. In the present scenario, however, China is tightening its supply. The producers in China are manufacturing at half their capacity to avoid oversupply. China accounted for around 80% of the global magnesium production in 2016. Moreover, the Mg prices in China are expected to increase due to an increase in the prices of ferrosilicon and coal. The primary production of magnesium in China was 871 thousand metric tons in 2016, and it increased in 2017. The Mg Industry Association of Shaanxi forecast that magnesium production in China will increase by 10% per year to reach 1.3 million metric tons per year by 2020. These factors will propel the growth of the market during the forecast period.

Significant Market Trends

The use of magnesium-based materials in orthopedic implants is an emerging trend shaping market growth. Magnesium is increasingly used in knee arthroplasty. Mg alloys have advantages over stainless steel, Co-Cr-Ni alloy, and titanium implants. Magnesium alloys are lightweight, low in density, and have a high damping capacity. They also enable high machinability and dimensional accuracy and are biocompatible. The density of magnesium is 1.738 g/cm3, which is close to the density range of the cortical bone (1.75-2.1 g/cm3). Mg can absorb the energy of any metal and can be used for load-bearing applications. Mg is also considered biocompatible and can help increase the rate of bone formation. Mg can completely degrade in the body, which is beneficial for patients who require temporary implants in the body. These factors will propel the growth of the market during the forecast period.

Major Market Challenges

The availability of substitutes for magnesium metal is a significant challenge hindering market growth and trends. Magnesium is a very light metal. Aluminum and zinc can be used as substitutes for Mg in castings and wrought metal products. The high cost of Mg compels the manufacturers to use its substitutes such as aluminum and zinc. Calcium carbide can be substituted in place of Mg for iron and steel desulfurization. In July 2021, ICL Group Ltd. expanded its specialty product offering to meet the growing demand from the electric vehicle industry. With its YPH joint venture plant in China, it can thus provide a full range of mono ammonium phosphate (MAP) solutions. It can fulfill specific customer requirements and offer cost-effectiveness and flexibility at the same time. ICL Group Ltd. will create additional capacity to meet rapidly increasing customer demand for specialty products, including the production of lithium iron phosphate (LFP) batteries destined for electric vehicles and other energy storage. Thus, the availability of substitutes can impose a threat to the growth of the market during the forecast period.

Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting growth strategies.

Global market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and result in market growth analysis.

Eczacibasi Holding AS - The company offers magnesium which is used in alloy batteries and in chemical synthesis.

The  market  growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about  20 market companies, including Eczacibasi Holding AS, ICL Group Ltd., Latrobe Magnesium Ltd., Mag Specialties Inc., Magontec Ltd., Meridian Lightweight Technologies Inc., NIPPON KINZOKU CO. LTD., POSCO holdings Inc., RIMA INDUSTRIAL, Shaanxi Tianyu Industry Group Co. Ltd., Shanghai Regal Metal Materials Co. Ltd., Shanxi Bada Co. Ltd., Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd, Smiths Metal Centres Ltd., Southern and Chemicals Ltd., STOLFIG LEICHTBAUKEPTENZZENTRUM GMBH, Thermo Fisher Scientific Inc., Tongxiang Magnesium Shanghai Co.Ltd, VSMPO AVISMA Corp., West High Yield Resources, Western Magnesium Corp., and US Magnesium LLC

The market analysis and report of qualitative and quantitative analysis of companies have been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players along with market research and growth. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

The market is experiencing steady growth driven by its versatile applications across various industries such as aerospace sector, automotive sector, automobile sector and electronics. Magnesium's lightweight components and excellent heat conductivity make it an ideal choice for manufacturing aircraft deliveries, automotive parts, and electronic devices. With increasing demand for electric cars and the growing emphasis on lightweight materials, the automotive sector is witnessing a surge in magnesium usage. Additionally, research and development ventures are focusing on enhancing magnesium's properties, including its electromagnetic screening property and ductility, further expanding its industrial applications. Despite fluctuations in metal prices, magnesium's prominence in aerospace parts manufacturing and other sectors remains robust, fueling the market's growth trajectory.

The market holds immense significance across diverse industries, from Automotive and Aerospace to Engineering and Healthcare. Magnesium's lightweight properties make it crucial for applications in Automobiles, Aircraft, and General Aviation, ensuring energy efficiency and high-strength-to-weight ratio in engine cooling systems, seat frames, and steering columns. Its alloying capabilities with aluminum contribute to lightweight alloys used in laptops, electronic portables, and household appliances. Furthermore, magnesium plays a pivotal role in environmental concerns, with its exploitation regulated by environmental policies to mitigate pollution and preserve biodiversity. From construction processes to medical applications, magnesium's versatility and good chemical stability continue to drive its demand, supported by the largest magnesium producing companies worldwide like Lockheed Martin, and its role in soil stability and pollution control norms underscores its importance in sustaining ecosystems and ensuring environmental balance.

The market is pivotal across several sectors, notably the Aerospace and automotive industries, and Construction. Magnesium is integral to the automotive sector, aerospace parts production, and the construction of spacecraft and commercial aircraft, ensuring lightweight components and corrosion resistance. Its significance extends to the automotive sector, where it is used in automotive machinery and the electric vehicle segment, particularly in battery-powered EVs, promoting sustainability in the automotive industry. Additionally, magnesium contributes to the production of beverage cans, supports carbon fiber composites, and is crucial in alloying with aluminium alloy for various applications. Furthermore, it influences air transport for trade operations, adheres to aircraft seat design standards, and plays a role in the construction of ballistic missiles, showcasing its widespread usage and importance across industries.

Magnesium Market Scope

Market Report Coverage

Details

Page number

175

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.36%

Market growth 2024-2028

USD 1.58 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

4.6

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 57%

Key countries

US, China, Australia, Russia, and UK

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Eczacibasi Holding AS, ICL Group Ltd., Latrobe Magnesium Ltd., Mag Specialties Inc., Magontec Ltd., Meridian Lightweight Technologies Inc., NIPPON KINZOKU CO. LTD., POSCO holdings Inc., RIMA INDUSTRIAL, Shaanxi Tianyu Magnesium Industry Group Co. Ltd., Shanghai Regal Metal Materials Co. Ltd., Shanxi Bada Magnesium Co. Ltd., Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd, Smiths Metal Centres Ltd., Southern Magnesium and Chemicals Ltd., STOLFIG LEICHTBAUKEPTENZZENTRUM GMBH, Thermo Fisher Scientific Inc., Tongxiang Magnesium Shanghai Co.Ltd, VSMPO AVISMA Corp., West High Yield Resources, Western Magnesium Corp., and US Magnesium LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. 

Customization purview

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market forecast during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the market  size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global magnesium market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global magnesium market 2018 - 2022 ($ billion)
    • 4.2 Application Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ billion)
    • 4.3 End-user Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Die castings - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Die castings - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Die castings - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Die castings - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Die castings - Year-over-year growth 2023-2028 (%)
    • 6.4 Aluminum alloys - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Aluminum alloys - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Aluminum alloys - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Aluminum alloys - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Aluminum alloys - Year-over-year growth 2023-2028 (%)
    • 6.5 Iron and steel desulfurization - Market size and forecast 2023-2028
      • Exhibit 42: Chart on Iron and steel desulfurization - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 43: Data Table on Iron and steel desulfurization - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 44: Chart on Iron and steel desulfurization - Year-over-year growth 2023-2028 (%)
      • Exhibit 45: Data Table on Iron and steel desulfurization - Year-over-year growth 2023-2028 (%)
    • 6.6 Others - Market size and forecast 2023-2028
      • Exhibit 46: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 47: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 48: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 49: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.7 Market opportunity by Application
      • Exhibit 50: Market opportunity by Application ($ billion)
      • Exhibit 51: Data Table on Market opportunity by Application ($ billion)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 52: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 53: Data Table on End-user - Market share 2023-2028 (%)
    • 7.2 Comparison by End-user
      • Exhibit 54: Chart on Comparison by End-user
      • Exhibit 55: Data Table on Comparison by End-user
    • 7.3 Aerospace - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Aerospace - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Data Table on Aerospace - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 58: Chart on Aerospace - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Aerospace - Year-over-year growth 2023-2028 (%)
    • 7.4 Automotive - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Automotive - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on Automotive - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on Automotive - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Automotive - Year-over-year growth 2023-2028 (%)
    • 7.5 Electronics - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Electronics - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 65: Data Table on Electronics - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 66: Chart on Electronics - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Electronics - Year-over-year growth 2023-2028 (%)
    • 7.6 Medical - Market size and forecast 2023-2028
      • Exhibit 68: Chart on Medical - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 69: Data Table on Medical - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 70: Chart on Medical - Year-over-year growth 2023-2028 (%)
      • Exhibit 71: Data Table on Medical - Year-over-year growth 2023-2028 (%)
    • 7.7 Others - Market size and forecast 2023-2028
      • Exhibit 72: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 73: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 74: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 75: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 7.8 Market opportunity by End-user
      • Exhibit 76: Market opportunity by End-user ($ billion)
      • Exhibit 77: Data Table on Market opportunity by End-user ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 79: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 80: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 81: Chart on Geographic comparison
      • Exhibit 82: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 83: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 87: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 91: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 South America - Market size and forecast 2023-2028
      • Exhibit 95: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 99: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 103: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 US - Market size and forecast 2023-2028
      • Exhibit 107: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.10 Russia - Market size and forecast 2023-2028
      • Exhibit 111: Chart on Russia - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 112: Data Table on Russia - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 113: Chart on Russia - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on Russia - Year-over-year growth 2023-2028 (%)
    • 9.11 Australia - Market size and forecast 2023-2028
      • Exhibit 115: Chart on Australia - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 116: Data Table on Australia - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 117: Chart on Australia - Year-over-year growth 2023-2028 (%)
      • Exhibit 118: Data Table on Australia - Year-over-year growth 2023-2028 (%)
    • 9.12 UK - Market size and forecast 2023-2028
      • Exhibit 119: Chart on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 120: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 121: Chart on UK - Year-over-year growth 2023-2028 (%)
      • Exhibit 122: Data Table on UK - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 123: Market opportunity by geography ($ billion)
      • Exhibit 124: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 125: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 126: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 127: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 128: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 129: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 130: Matrix on vendor position and classification
            • 12.3 Eczacibasi Holding AS
              • Exhibit 131: Eczacibasi Holding AS - Overview
              • Exhibit 132: Eczacibasi Holding AS - Product / Service
              • Exhibit 133: Eczacibasi Holding AS - Key offerings
            • 12.4 ICL Group Ltd.
              • Exhibit 134: ICL Group Ltd. - Overview
              • Exhibit 135: ICL Group Ltd. - Business segments
              • Exhibit 136: ICL Group Ltd. - Key offerings
              • Exhibit 137: ICL Group Ltd. - Segment focus
            • 12.5 Latrobe Magnesium Ltd.
              • Exhibit 138: Latrobe Magnesium Ltd. - Overview
              • Exhibit 139: Latrobe Magnesium Ltd. - Product / Service
              • Exhibit 140: Latrobe Magnesium Ltd. - Key offerings
            • 12.6 Mag Specialties Inc.
              • Exhibit 141: Mag Specialties Inc. - Overview
              • Exhibit 142: Mag Specialties Inc. - Product / Service
              • Exhibit 143: Mag Specialties Inc. - Key offerings
            • 12.7 Magontec Ltd.
              • Exhibit 144: Magontec Ltd. - Overview
              • Exhibit 145: Magontec Ltd. - Business segments
              • Exhibit 146: Magontec Ltd. - Key offerings
              • Exhibit 147: Magontec Ltd. - Segment focus
            • 12.8 Meridian Lightweight Technologies Inc.
              • Exhibit 148: Meridian Lightweight Technologies Inc. - Overview
              • Exhibit 149: Meridian Lightweight Technologies Inc. - Product / Service
              • Exhibit 150: Meridian Lightweight Technologies Inc. - Key offerings
            • 12.9 NIPPON KINZOKU CO. LTD.
              • Exhibit 151: NIPPON KINZOKU CO. LTD. - Overview
              • Exhibit 152: NIPPON KINZOKU CO. LTD. - Product / Service
              • Exhibit 153: NIPPON KINZOKU CO. LTD. - Key offerings
            • 12.10 POSCO holdings Inc.
              • Exhibit 154: POSCO holdings Inc. - Overview
              • Exhibit 155: POSCO holdings Inc. - Product / Service
              • Exhibit 156: POSCO holdings Inc. - Key offerings
            • 12.11 RIMA INDUSTRIAL
              • Exhibit 157: RIMA INDUSTRIAL - Overview
              • Exhibit 158: RIMA INDUSTRIAL - Product / Service
              • Exhibit 159: RIMA INDUSTRIAL - Key offerings
            • 12.12 Shaanxi Tianyu Magnesium Industry Group Co. Ltd.
              • Exhibit 160: Shaanxi Tianyu Magnesium Industry Group Co. Ltd. - Overview
              • Exhibit 161: Shaanxi Tianyu Magnesium Industry Group Co. Ltd. - Product / Service
              • Exhibit 162: Shaanxi Tianyu Magnesium Industry Group Co. Ltd. - Key offerings
            • 12.13 Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd
              • Exhibit 163: Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd - Overview
              • Exhibit 164: Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd - Product / Service
              • Exhibit 165: Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd - Key offerings
            • 12.14 Smiths Metal Centres Ltd.
              • Exhibit 166: Smiths Metal Centres Ltd. - Overview
              • Exhibit 167: Smiths Metal Centres Ltd. - Product / Service
              • Exhibit 168: Smiths Metal Centres Ltd. - Key offerings
            • 12.15 US Magnesium LLC
              • Exhibit 169: US Magnesium LLC - Overview
              • Exhibit 170: US Magnesium LLC - Product / Service
              • Exhibit 171: US Magnesium LLC - Key offerings
            • 12.16 VSMPO AVISMA Corp.
              • Exhibit 172: VSMPO AVISMA Corp. - Overview
              • Exhibit 173: VSMPO AVISMA Corp. - Product / Service
              • Exhibit 174: VSMPO AVISMA Corp. - Key offerings
            • 12.17 Western Magnesium Corp.
              • Exhibit 175: Western Magnesium Corp. - Overview
              • Exhibit 176: Western Magnesium Corp. - Product / Service
              • Exhibit 177: Western Magnesium Corp. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 178: Inclusions checklist
                • Exhibit 179: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 180: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 181: Research methodology
                • Exhibit 182: Validation techniques employed for market sizing
                • Exhibit 183: Information sources
              • 13.5 List of abbreviations
                • Exhibit 184: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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              • Data on revenue-generating market segments
              • Details on the market shares of various regions
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