New York, According to a new market research report published by Global Insight Services “Magnesium Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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.
Download a Free PDF Sample Copy of Report : https://www.globalinsightservices.com/request-sample/GIS21965
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.
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.
Get Customized report as per your requirements : https://www.globalinsightservices.com/request-customization/GIS21965
Reasons to buy Magnesium Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/