Global Magnesium Industry

Global Magnesium Industry

  • April 2021 •
  • 227 pages •
  • Report ID: 5799036 •
  • Format: PDF
Abstract:
- Global Magnesium Market to Reach 1.6 Million Metric Tons by 2027
- Amid the COVID-19 crisis, the global market for Magnesium estimated at 1.1 Million Metric Tons in the year 2020, is projected to reach a revised size of 1.6 Million Metric Tons by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. Aluminum Alloys, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach 719.4 Thousand Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Die Casting segment is readjusted to a revised 4.9% CAGR for the next 7-year period.
- The U.S. Market is Estimated at 310.4 Thousand Metric Tons, While China is Forecast to Grow at 7.5% CAGR
- The Magnesium market in the U.S. is estimated at 310.4 Thousand Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 327.7 Thousand Metric Tons by the year 2027 trailing a CAGR of 7.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.
- Titanium Refining Segment to Record 4.4% CAGR
- In the global Titanium Refining segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of 129 Thousand Metric Tons in the year 2020 will reach a projected size of 170.5 Thousand Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 212.8 Thousand Metric Tons by the year 2027, while Latin America will expand at a 5.4% CAGR through the analysis period.

- Select Competitors (Total 80 Featured) -
  • Albemarle Corporation
  • Aremco Products, Inc.
  • Belmont Metals, Inc.
  • Companhia Siderurgica Nacional SA (CSN)
  • Dead sea Magnesium Ltd.
  • Israel Chemicals Ltd. (ICL)
  • Lehmann & Voss & Co. KG
  • POSCO
  • PQ Corporation
  • Tokuyama Corporation