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Magnesium Alloys Market by Alloy Type, End-use Industry And Region - Global Forecast to 2023

Magnesium Alloys Market: Global Forecast until 2023

  • May 2018
  • 121 pages
  • ID: 5391635
In this report:
According to OICA, the automotive production capacity in Brazil grew from ##.## million units in 2016 to ##.## million units in 2017, registering a yearly growth rate of ##.##%.
The automotive production in Europe grew from ##.## million units in 2016 to ##.## million units in 2017 at an annual growth of ##.##%.

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Magnesium alloys market forecasted to grow at a Compound annual growth rate of 12.70 percent during forecast period

The magnesium alloys market is projected at ~$1.3B in 2018 and is projected to extend ~$2.4B by 2023, at a compound annual growth rate (CAGR) of 12.7% during the forecast horizon. The main factor driving the market increase is the growing demand for magnesium alloys from the automotive & transportation applications due to fuel efficiency and emission regulations. Nevertheless, the uncertainty of magnesium prices may restrain the increase of the market.

Cast alloy expected to be the quickest-increasing alloy type segment of magnesium alloys market during forecast horizon.

Magnesium alloys possess excellent casting properties and cast alloys are cheaper than wrought alloys.Additionally, issues including low extrusion rate of and formability at room temperature of magnesium alloys have made it challenging to use magnesium alloys in the form of wrought alloys.

The increasing demand from automotive & transportation, aerospace & defense, and electronics end-use markets for cost-efficient alloys is driving the increase of the cast alloy segment.

Asia-Pac forecasted to be the quickest increasing market for magnesium alloys during projection period

Asia Pacific (APAC) is anticipated to be the quickest developing market for magnesium alloys during the outlook period, with China (CN) leading the industry in 2017. The magnesium alloys market in the Asia Pacific area is influenced by the rising consumption of magnesium alloys products in the automotive & transportation and electronics applications.

This analysis has been approved through primaries managed with different market experts, globally. Those primary sources have been sliced into following three categories:

• By Company category: Tier 1-50.0 percent, Tier 2-25.0 percent, and Tier 3-25.0 percent

• By Description: C Level-42%, Director Level-33%, and Others-25%

• By Area: North America-36%, Europe-36%, Asia Pacific-21%, and RoW-7%

Segment Research

This industry report includes the sector for magnesium alloys and forecasts the market size until 2023.The analysis includes the market segmentation by alloy type ; end-use sectors (automotive & transportation, electronics, aerospace & defense, power tools, others); and area (North America continent, Europe (EU), Asia-Pac, Latin America area, Middle East (ME) & African continent).

The Porter's Five Forces analysis, together with drivers, industry restraints, opportunities, and possibilities have been discussed in the market research. The industry report also offers company descriptions and competitive landscape approved by top actors in the magnesium alloys market.

Main highlights

This study will help the industry leaders (and new entrants) in the following points:

1. The document breaks down the magnesium alloys market comprehensively and offers the best approximations of the revenue data for the global market and the sub-segments across several verticals and localities.

2. The analysis benefits partners comprehend the pulse of the sector and offers info on main market drivers, market restraints, opportunities, and alternatives.

3. The market research will facilitate partners better comprehend players and obtain business insights to better their rank in the business sector. The competitive outlook section includes new industry product developments, alliances, exhibitions, and mergers & acquisitions.

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