China Automotive Magnesium Alloy Die Casting Market Report 2021: Enormous Market Potentials Prompt Companies to Expand Production
DUBLIN, Dec. 14, 2021 /PRNewswire/ -- The "China Automotive Magnesium Alloy Die Casting Industry Report, 2021" report has been added to ResearchAndMarkets.com's offering.
Under the general trend of automobile lightweight, the CAGR of magnesium alloy market demand reached 13.2%
The vast majority of automotive magnesium alloy parts are die casting parts, which are mainly used in housings and brackets. Magnesium alloy is a good substitute for steel and aluminum alloy, and can reduce the product weight by 25%-75%. However, the current application ratio of magnesium alloy in automobiles is much lower than that of aluminum alloy.
Magnesium alloy boosts lightweight new energy vehicles
For every 10% reduction in the weight of new energy vehicles, the average cruising range can increase by 5%-8%. Therefore, the demand for lightweight new energy vehicles is urgent. The density of magnesium alloy is 2/3 that of aluminum and 1/4 that of steel, so it is much lighter than the latter two, which means that magnesium alloy is the best choice for lightweight new energy vehicles.
New energy vehicle battery packs account for more than 20% of the vehicle weight, thus lightweight new energy vehicles partly hinge on lightweight battery packs.
Lightweight battery packs can make outer casings, bottom trays, and inner end/side panels lighter. For example, Tesla MODEL S mainly uses aluminum alloy for the battery pack shell which weighs up to 125 kg; if it uses magnesium alloy, the weight will be reduced by about 60 kg or nearly 50%.
At present, Wanfeng Meridian, Qianhe Magnesium, RSM Group, Eontec, Ka Shui Group, etc. have made layout in the field of magnesium alloy casting for battery pack shells of new energy vehicles.
As the world's leading supplier of new energy vehicle batteries, CATL has also deployed magnesium alloy die casting for battery packs. In November 2020, CATL, Sanxiang Advanced Materials, Vansun Group, and Zhuhai Hengqin Yinmei Technology jointly established Ningde Wenda Magnesium-Aluminum Technology Co., Ltd. to build a magnesium-aluminum alloy project with a total investment of RMB800 million. The products include die casting structural parts for battery casings.
Wanfeng Auto Wheel leads the market amid low market concentration
At present, the global automotive magnesium alloy die casting market is highly fragmented with low market concentration The relatively large-scale companies mainly include Georg Fisher, DGS, STIHL, Wanfeng Meridian, SUNDARAM CLAYTON, Gibbs, PACE, etc.
In the short history of China's automotive magnesium alloy die casting market, there are only a few companies of a certain size, mainly including Wanfeng Auto Wheel, RSM Group, Sinyuan ZM, Eontec, Ka Shui Group, etc.
Wanfeng Auto Wheel has become a leader in the automotive magnesium alloy die casting market in China and even in the world through the acquisition of Wanfeng Meridian which was granted the Automotive Casting Excellence Award by The International Magnesium Association (IMA) for two consecutive years. Wanfeng Meridian serves not only Tesla, NIO and other new energy vehicle companies, but also traditional automakers such as Porsche, Audi, Mercedes-Benz, BMW and Volvo.
Enormous market potentials prompt companies to expand production
In view of enormous market potentials, domestic companies have invested in building or expanding automotive magnesium alloy die casting bases to meet the growing market demand. In the future, the competition in the industry will become more intense, and the automotive magnesium alloy die casting market will mature.
Key Topics Covered:
1 Overview of Magnesium Alloy Die Casting Industry
1.1 Introduction
1.2 Development History
1.3 Magnesium Alloy Industry Chain
2 Analysis on Automotive Magnesium Alloy Die Casting Industry
2.1 Lightweight Vehicles and Magnesium Alloy
2.2 Application History of Automotive Magnesium Alloy
2.3 Layout of automakers in Magnesium Alloy
2.4 Status Quo of Automotive Magnesium Alloy die casting industry
2.5 Automotive Magnesium Alloy Market Size
2.6 Competitive Landscape of Automotive Magnesium Alloy Die Casting Industry
2.7 Favorable Factors for Development of China's Automotive Magnesium Alloy Die Casting Industry
2.8 Development Trends of Automotive Magnesium Alloy Die Casting Industry
2.9 Bottlenecks and Constraints in Development of Magnesium Alloy
3 Automotive Magnesium Alloy Die Casting Companies in China
3.1 Wanfeng Auto Wheel
3.2 Sinyuan ZM
3.3 Shanghai Fenghwa Group
3.4 RSM Group
3.5 Eontec
3.6 Ka Shui Group
3.7 Dowell
3.8 FAW Foundry
3.9 AMGAIN
3.10 Waffer Technology
3.10.1 Automotive Business
3.11 Other Companies
3.11.1 Fujian Kunfu
3.11.2 Tianyu Mineral Industrial Group
3.11.3 Qinghai Salt Lake Trimag
3.11.4 Henan Magnesium Industry
3.11.5 Aotian Magnesium
3.11.6 Chongqing Yishente
3.11.7 Magic Precision
3.11.8 Catcher Technology
4 Foreign Automotive Magnesium Alloy Die Casting Companies
4.1 Georg Fischer AG (GF)
4.2 Druckguss Systeme AG (DGS)
4.3 Chicago White Metal Casting, Inc.(CWM)
4.4 ANDREAS STIHL AG & Co. KG (STIHL)
4.5 Pace Industries
4.6 ORTAL
4.7 Sandhar Group
4.8 RYOBI
4.9 Sundaram Clayton
4.10 Gibbs
4.11 Twin City
For more information about this report visit https://www.researchandmarkets.com/r/ad49pk
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