LONDON, April 20, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of magnesium alloys in the global automotive industry looks strong with increasing penetration of lightweight materials and rising vehicle production. Magnesium alloys in the global automotive industry is forecast to grow at a CAGR of 10.1% from 2015 to 2020. The major drivers of growth for this market are government regulations, growing demand for lightweight and fuel efficient vehicles, and the lightweight properties of magnesium alloys material. Magnesium is 75% lighter than steel, 50% lighter than titanium, and 33% lighter than aluminum.
In this market, interior, powertrain, chassis, and exterior are the major application area of magnesium alloys material in a vehicle. Interior is the largest segment by application and is expected to remain the same during the forecast period. Lucintel predicts that the demand of magnesium alloys in the exterior parts is likely to experience the highest growth in the forecast period supported by growing application of magnesium alloys in the exterior parts of the vehicle. On the basis of its comprehensive research, Lucintel forecasts that exterior, chassis, and interior segments are expected to show above average growth during the forecast period.
Within the global automotive magnesium alloys market, the passenger car segment is expected to remain as the largest market by volume consumption. The development of new magnesium-based sheet metal for car body is expected to spur growth for this segment over the forecast period. North America is expected to remain the largest market due to high penetration of magnesium alloys material in the automotive industry.
North America and Europe are expected to witness significant growth over the forecast period because of increasing penetration of magnesium alloys material and rise in automotive production. For market expansion, the report suggests innovation and new product development, where the unique characteristics of magnesium material can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for the end users.
Emerging trends, which have a direct impact on the dynamics of the industry, include non-flammable magnesium alloys, vertical squeeze casting machine, and magnesium-air battery. Nanjing Yunhai Special Metals Co., Ltd., Magontec Ltd., Yinguang Weijie Magnesium Industry Co., Ltd., Fugu Jinwantong Magnesium Industry Co., Ltd., and Ningxia Hui-ye Magnesium Marketing Group Co.,Ltd. are among the major suppliers of magnesium alloys material to the automotive industry.
The report answers the following questions
Question: What are the segments addressed in the report?
Answer: The segments in the report are as follows:
By application [Volume (M lbs /Kilotons) and $M shipment analysis for 2009 – 2020]:
By vehicle type [Volume (M lbs /Kilotons) and $M shipment analysis for 2009 – 2020]:
- Passenger Car
- Light Commercial Vehicle
By region [Volume (M lbs /Kilotons) and $M shipment analysis for 2009 – 2020]:
- North America
- Asia Pacific
- Rest of World
This report answers following 11 key questions:
Q.1 How big the opportunities for automotive magnesium alloy by type, applications and regions?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats of this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are taken by key players for business growth?
Q.10 How is the competitive rivalry and threat of substitution in this market?
Q.11 What are the recent M & A activities in the past 2-3 years in this market? What reasons can be attributed to these activities and how have they impacted the industry?
Some of the features of "Growth Opportunities for Magnesium Alloys in Global Automotive Industry 2015-2020: Trend, Forecast, and Market Analysis" include:
- Market size estimates: Magnesium alloys in global automotive industry size estimation in terms of volume (M lbs.) and value ($M) shipment.
- Trend and forecast analysis: Magnesium alloys in global automotive industry trend (2009-2014) and forecast (2015-2020) by region and application type.
- Segmentation analysis: Magnesium alloys in global automotive industry size by various application types, such as exterior, interior, powertrain, and chassis in terms of value and volume
- Regional analysis: Magnesium alloys in global automotive industry breakdown by key regions, such as North America, Europe, Asia Pacific, and Rest of World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions.
- Strategic analysis: This includes M&A, competitive landscape, and expansion strategies of magnesium alloys in global automotive industry suppliers.
- Emerging applications: Emerging applications of magnesium alloys in global automotive Industry.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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