Metal Magnesium Market (By Application: Die Casting, Aluminum Alloys, Titanium Reduction, Iron & Steel Making) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

Published Date : Feb 2022 | No. of Pages : +150 Pages | Category : Chemical and Material

The global metal magnesium market size was valued at USD 4.35 billion in 2021, and is predicted to be worth around USD 6.97 billion by 2030, registering a CAGR of 5.2% during the forecast period 2022 to 2030.

Metal Magnesium Market Size 2021 to 2030

Growth Factors

Rising demand for lightweight parts mainly in the automotive and aerospace industries is anticipated to contribute to the market growth over the forecast period. Magnesium is a grey-white lightweight metal, which has the lowest melting point and lowest boiling point of all alkali earth metals. It is the third-most commonly used structural metal, after iron and aluminum. Its main applications are in aluminum alloys, die-casting, removal of sulfur in the iron and steel production process, and titanium production.

The growing demand from die casting and aluminum alloy application segments is anticipated to drive the market growth forward. Diecast components and aluminum alloys that use magnesium are primarily utilized across the automotive, aerospace, and marine industries. In terms of volume, these two application segments jointly accounted for a considerable market share in 2021.

Asia Pacific held the largest revenue share in 2021 and this trend is anticipated to continue over the forecast period. The growing demand for titanium alloys from the aerospace industry is expected to drive titanium production over the forecast period. This, in turn, is expected to generate a proportional demand for magnesium in titanium production over the coming years.

Report Coverage

Report Scope Details
Market Size US$ 6.97 billion by 2030
Growth Rate CAGR of 5.2% From 2022 to 2030
Largest Market Europe 
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned NipponKinzoku Co. Ltd.; VSMPO-Avisma Corp.; SolikamskDesulphurizer Works (SZD); Western Magnesium Corp.

By Application Analysis

The die casting application segment accounted for the maximum revenue share of more than 37.5% in 2021. The trend is expected to continue with the segment registering the fastest CAGR over the forecast period. Magnesium is used as an ideal material in die casting applications owing to its good heat conductivity and electromagnetic screening property. 

Increasing demand for lightweight materials in aircraft production for reducing the weight of commercial aircraft is expected to drive the segment growth. Titanium and its alloys are widely used in multiple applications due to their excellent strength, good chemical stability, and low density. Titanium is majorly used in spacecraft, aircraft, and missiles and is increasingly being used in the medical field as well. 


Magnesium is an important reagent in the production of iron and steel making as it is used for removing excessive sulfur from hot metal, which is a necessary step for creating high-quality steel. In addition, magnesium alloys have several applications, such as in the production of aircraft, spacecraft, machinery, automobiles, portable tools, and household appliances, and these are also being used in steering columns, gearboxes, seat frames, steering wheels, and in other automotive machinery.

By Regional Analysis

Asia Pacific accounted for the largest revenue share of more than 45.0% in 2021 and is estimated to expand further at the fastest CAGR from 2022 to 2030. Increasing consumption of aluminum and steel from the end-use industries, such as electric vehicles (EVs) and construction, are the key factors driving the APAC regional market growth.

The rising demand from the automotive and aerospace industries in China and India is expected to support the market growth in this region. Moreover, the demand from the steel industry in India and Japan will facilitate the overall market growth. North America accounted for the second-largest revenue share of the global market in 2021.

The market in the North America region is anticipated to witness steady growth over the coming years. This is mainly attributed to the rising demand for aluminum and titanium alloys from the automotive and aerospace & defense industries. 

Key Players 

  • 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.

  • Western Magnesium Corp.

Market Segmentation

  • By Application 

    • Die Casting

    • Aluminum Alloys

    • Titanium Reduction

    • Iron & Steel Making

    • Others

  • Regional

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

The metal magnesium market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of metal magnesium market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global metal magnesium market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the metal magnesium market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted metal magnesium market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the metal magnesium capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of metal magnesium by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global metal magnesium market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major metal magnesium market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of metal magnesium market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the metal magnesium industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

metal magnesium market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to metal magnesium market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of metal magnesium market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new metal magnesium market. These factors have benefited the growth of the global market for metal magnesium. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for metal magnesium. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of metal magnesium are as follows:

  • History Year: 2019-2021
  • Base Year: 2022
  • Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2019-2022) and forecast (2022-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.


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