Magnesium Market Analysis and Forecast to 2032: By Manufacturing Process (Thermal Reduction Process, Electrolytic Process, Recycling), End-User (Aerospace & Defense, Automotive, Medical & Healthcare, Electronics, Others), and Region

The Magnesium Market size was USD 4.2 Billion in 2022 and is anticipated to reach USD 7.5 Billion in 2032, growing at a rate of 6.0% from 2023 to 2032.

Magnesium is a chemical element with the symbol Mg and atomic number 12. It is a shiny gray solid which bears a close resemblance to the other five elements in the second column (group 2, or alkaline earth metals) of the periodic table: all group 2 elements have the same electron configuration in the outer electron shell and are thus similarly affected by chemical reactions. Magnesium is the eighth most abundant element in the Earth’s crust and the fourth most common element in the Earth (after iron, oxygen and silicon), making up 13% of the planet’s mass.

Key Trends

The key trends in magnesium technology are the development of new alloys and the use of alternative production methods.

The alloys being developed are designed to improve the strength, ductility and weldability of magnesium, as well as to reduce its weight. The production methods being explored include powder metallurgy, which has the potential to reduce production costs.

The use of magnesium is growing in a number of industries, such as automotive and aerospace, where its weight-saving properties are particularly beneficial. This is likely to continue as manufacturers look for ways to reduce the weight of their products.

Key Drivers

The key drivers of the magnesium market are its low weight, high strength, and corrosion resistance. These properties make magnesium an ideal material for a wide range of applications, including automotive, aerospace, and construction.

The automotive industry is the largest end user of magnesium, accounting for about 40% of global demand. Magnesium is used in a variety of automotive applications, including wheels, seat frames, and engine blocks.

The construction industry is the third largest end user of magnesium, accounting for about 10% of global demand. Magnesium is used in a variety of construction applications, including windows, doors, and framing.

Restraints & Challenges

The key restraints and challenges in Magnesium market are:

1. The high cost of production: Magnesium is produced by electrolysis of magnesium chloride, which is obtained from seawater or brines. The cost of production is therefore high, making magnesium one of the most expensive metals.

2. The limited applications: Magnesium is used in a limited number of applications, such as in the production of lightweight alloys for the aerospace and automotive industries.

3. The volatile price: The price of magnesium is volatile, as it is influenced by a number of factors, such as the cost of production, global demand and supply, and political factors.

4. The health and environmental concerns: Magnesium production and use can have negative impacts on health and the environment. For example, magnesium production releases a number of pollutants into the air, including carbon dioxide and sulfur dioxide.

Market Segmentation

The Magnesium Market is segmented by manufacturing process, end-user, and region. By manufacturing process, the market is classified into thermal reduction process, electrolytic process, and recycling. By end-user, the market is bifurcated into aerospace & defense, automotive, medical & healthcare, electronics, and others. By region, the market is classified into North America, Europe, Asia-Pacific and rest of the world.

Key Players

The key players in the Magnesium Market are  Alliance Magnesium, Esan Eczacibasi, Latrobe Magnesium, Nippon Kinzoku Co. Ltd., Regal Metal, Shanghai Sunglow Investment (Group) Co., Ltd., SolikamskDesulphurizer Works (SZD), U.S. Magnesium LLC, VSMPO-Avisma Corp. and Western Magnesium Corp, among others.

Magnesium Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Magnesium Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Magnesium Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Magnesium Industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Magnesium Market along with the current trends and future estimations to depict imminent investment pockets. The overall Menopausal Hot Flashes industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Magnesium Market are also analyzed.

Why GIS?

Table of Contents

Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques

Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market

Chapter 3. Magnesium Market Outlook
3.1. Magnesium Market segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Magnesium Market

Chapter 4. Economic Impact of COVID-19 on Magnesium Market
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Magnesium Market
4.3. Economic Impact Analysis

Chapter 5. Magnesium Market By Manufacturing Process
5.1. Market Overview
5.2. Thermal Reduction Process
5.2.1. Market Size and Forecast, 2022-2032 ($Million)
5.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
5.3. Electrolytic Process
5.3.1. Market Size and Forecast, 2022-2032 ($Million)
5.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
5.4. Recycling
5.4.1. Market Size and Forecast, 2022-2032 ($Million)
5.4.2. Market Size and Forecast, by Region, 2022-2032 ($Million)

Chapter 6. Magnesium Market by Application
6.1. Market Overview
6.2. Aerospace & Defense
6.2.1. Market Size and Forecast, 2022-2032 ($Million)
6.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.3. Automotive
6.3.1. Market Size and Forecast, 2022-2032 ($Million)
6.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.4. Medical & Healthcare
6.4.1. Market Size and Forecast, 2022-2032 ($Million)
6.4.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.5. Electronics
6.5.1. Market Size and Forecast, 2022-2032 ($Million)
6.5.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.6. Others
6.6.1. Market Size and Forecast, 2022-2032 ($Million)
6.6.2. Market Size and Forecast, by Region, 2022-2032 ($Million)

Chapter 7. Magnesium Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. North America Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.2.3. North America Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.2.4. North America Magnesium Market Size and Forecast by Country, 2022-2032, ($Million)
7.2.5. The U.S.
7.2.5.1. The U.S. Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.2.5.2. The U.S. Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.2.6. Canada
7.2.6.1. Canada Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.2.6.2. Canada Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.2.7. Mexico
7.2.7.1. Mexico Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.2.7.2. Mexico Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Europe Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.3.3. Europe Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.4. Europe Magnesium Market Size and Forecast by Country, 2022-2032, ($Million)
7.3.5. Germany
7.3.5.1. Germany Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.3.5.2. Germany Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.6. France
7.3.6.1. France Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.3.6.2. France Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.7. U.K.
7.3.7.1. U.K. Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.3.7.2. U.K. Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.8. Spain
7.3.8.1. Spain Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.3.8.2. Spain Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.9. Italy
7.3.9.1. Italy Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.3.9.2. Italy Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.10. Rest of Europe
7.3.10.1. Rest of Europe Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.3.10.2. Rest of Europe Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Asia-Pacific Magnesium Market Size and Forecast by Country, 2022-2032, ($Million)
7.4.3. Asia-Pacific Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.4. Asia-Pacific Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.4.5. China
7.4.5.1. China Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.4.5.2. China Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.6. India
7.4.6.1. India Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.4.6.2. India Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.7. Japan
7.4.7.1. Japan Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.4.7.2. Japan Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.8. South Korea
7.4.8.1. South Korea Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.4.8.2. South Korea Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.9. Rest of APAC
7.4.9.1. Rest of APAC Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.4.9.2. Rest of APAC Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.5. Rest of the World
7.5.1. Key Market Trends and Opportunities
7.5.2. Rest of the World Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.5.3. Rest of the World Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.4. Rest of the World Magnesium Market Size and Forecast by Country, 2022-2032, ($Million)
7.5.5. Latin America
7.5.5.1. Latin America Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.5.5.2. Latin America Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.6. Middle East
7.5.6.1. Middle East Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.5.6.2. Middle East Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.7. Africa
7.5.7.1. Africa Magnesium Market Size and Forecast By Manufacturing Process, 2022-2032, ($Million)
7.5.7.2. Africa Magnesium Market Size and Forecast by Application, 2022-2032, ($Million)

Chapter 8. Competitive Landscape
8.1. Market Overview
8.2. Market Share Analysis/Key Player Positioning
8.3. Developmental Strategy Benchmarking
8.3.1. New Product Development
8.3.2. Product Launches
8.3.3. Business Expansions
8.3.4. Partnerships, Joint Ventures, and Collaborations
8.3.5. Mergers and Acquisitions

Chapter 9. Company Profiles
9.1. Alliance Magnesium
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Offerings
9.1.4. Key Strategic Initiatives
9.1.5. SWOT Analysis
9.2. Esan Eczacibasi
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product offerings
9.2.4. Key Strategic Initiatives
9.2.5. SWOT Analysis
9.3. Latrobe Magnesium
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product offerings
9.3.4. Key Strategic Initiatives
9.3.5. SWOT Analysis
9.4. Nippon Kinzoku Co. Ltd.
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product offerings
9.4.4. Key Strategic Initiatives
9.4.5. SWOT Analysis
9.5. Regal Metal
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product offerings
9.5.4. Key Strategic Initiatives
9.5.5. SWOT Analysis
9.6. Shanghai Sunglow Investment (Group) Co., Ltd.
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product offerings
9.6.4. Key Strategic Initiatives
9.6.5. SWOT Analysis
9.7. SolikamskDesulphurizer Works (SZD)
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product offerings
9.7.4. Key Strategic Initiatives
9.7.5. SWOT Analysis
9.8. U.S. Magnesium LLC
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product offerings
9.8.4. Key Strategic Initiatives
9.8.5. SWOT Analysis
9.9. VSMPO-Avisma Corp.
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product offerings
9.9.4. Key Strategic Initiatives
9.9.5. SWOT Analysis
9.10. Western Magnesium Corp.
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product offerings
9.10.4. Key Strategic Initiatives
9.10.5. SWOT Analysis

*The list of company is subject to change during the final compilation of the report

Market Segmentation

By Manufacturing Process

  • Thermal Reduction Process
  • Electrolytic Process
  • Recycling

By End-user

  • Aerospace & Defense
  • Automotive
  • Medical & Healthcare
  • Electronics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

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