Magnesium Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43562
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The magnesium market has the potential to grow by USD 844.74 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 5.50%.

This magnesium market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (die castings, aluminum alloys, iron and steel desulfurization, and others) and geography (APAC, Europe, North America, South America, and MEA). The magnesium market report also offers information on several market vendors, including China Magnesium Corp., ICL Group Ltd, Latrobe Magnesium Ltd., Magontec Ltd., POSCO, Rima Group, Shaanxi Tianyu Magnesium Industry Group Co. Ltd., US Magnesium LLC, VSMPO-AVISMA Corp., and Western Magnesium Corp. among others.

What will the Magnesium Market Size be in 2021?

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Magnesium Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The high demand for steel from various end-use industries is notably driving the magnesium market growth, although factors such as the availability of substitutes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the magnesium industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

This magnesium market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Magnesium Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • China Magnesium Corp.
  • ICL Group Ltd
  • Latrobe Magnesium Ltd.
  • Magontec Ltd.
  • POSCO
  • Rima Group
  • Shaanxi Tianyu Magnesium Industry Group Co. Ltd.
  • US Magnesium LLC
  • VSMPO-AVISMA Corp.
  • Western Magnesium Corp.

 

This statistical study of the magnesium market encompasses successful business strategies deployed by the key vendors. The magnesium market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The magnesium market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Magnesium Market?

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57% of the market’s growth will originate from APAC during the forecast period. China is the key market for magnesium in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing automobile production in China, India, Japan, and other automobile manufacturing countries in the region will drive the demand for steel and aluminum, which, in turn, will facilitate the magnesium market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Magnesium Market?

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The magnesium market share growth by the die casting segment will be significant during the forecast period. The use of magnesium for die casting is increasing at a rapid rate, especially in the automotive sector. The thriving automotive sector will increase the use of magnesium in die casting applications. Global automotive production is expected to reach 117.2 million units by 2022, growing at a CAGR of 3.89%. APAC is expected to be the major contributor due to the presence of major automotive markets such as China, India, and Japan.

This report provides an accurate prediction of the contribution of all the segments to the growth of the magnesium market size and actionable market insights on post COVID-19 impact on each segment.

 

Magnesium Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.50%

Market growth 2021-2025

$ 844.74 million

Market structure

Fragmented

YoY growth (%)

3.71

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 57%

Key consumer countries

China, US, Germany, Russian Federation, and Brazil

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

China Magnesium Corp., ICL Group Ltd, Latrobe Magnesium Ltd., Magontec Ltd., POSCO, Rima Group, Shaanxi Tianyu Magnesium Industry Group Co. Ltd., US Magnesium LLC, VSMPO-AVISMA Corp., and Western Magnesium Corp.

Market Dynamics

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

Customization purview

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What are the Key Factors Covered in this Magnesium Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive magnesium market growth during the next five years
  • Precise estimation of the magnesium market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the magnesium industry across APAC, Europe, North America, South America, and MEA
  • A thorough 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

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • 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
    • Die Castings - Market size and forecast 2020-2025
    • Aluminum Alloys - Market size and forecast 2020-2025
    • Iron and Steel Desulfurization - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • APAC - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • North America - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • China Magnesium Corp.
    • ICL Group Ltd
    • Latrobe Magnesium Ltd.
    • Magontec Ltd.
    • POSCO
    • 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

    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.

    TechnavioINFORMATION 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
    Technavio

    TechnavioDATA 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
    Technavio

    TechnavioREPORT 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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    The magnesium market growth will increase by $390.21 thousand MT during 2019-2024.
    The magnesium market is expected to grow at a CAGR of 5.90% during 2019-2024.
    Technavio has segmented the magnesium market by application (Aluminum alloys, Die casting, Titanium refining, Steel desulfurization, and Others) and geographic (APAC, Europe, North America, MEA, and South America).
    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. are a few of the key vendors in the magnesium market.
    APAC will register the highest growth rate of 75.62% among the other regions. Therefore, the magnesium market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    • China
    • Russian Federation
    • Germany
    • US
    • Brazil
    The key factors driving the magnesium market growth are:
    • High demand for steel from various end-use industries
    The magnesium market vendors should focus on grabbing business opportunities from the aluminum alloys segment as it accounted for the largest market share in the base year.
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