Magnesium Alloys Market - Global Forecast to 2023: Potential Opportunity of Magnesium Alloys in the Medical (Biomedical) and Aerospace & Defense Industries
DUBLIN, May 11, 2018 /PRNewswire/ --
The "Magnesium Alloys Market by Alloy Type (Cast Alloys, Wrought Alloys), End-use Industry (Automotive & Transportation, Electronic, Aerospace & Defense, Power Tools), and Region (APAC, Europe, North America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The magnesium alloys market is estimated at USD 1.30 Billion in 2018 and is projected to reach USD 2.37 Billion by 2023, at a CAGR of 12.7% during the forecast period.
The growth of the market can be attributed to the high demand for magnesium alloys from the automotive & transportation, electronics, aerospace & defense, medical, and power tools industries. The market has witnessed significant growth over the last few years, due to the increased demand for magnesium alloys for lightweight automotive parts.
The magnesium alloys market is segmented on the basis of alloy type, end-use industry, and region. Based on alloy type, the market is segmented into cast alloys and wrought alloys. Cast alloys is projected to be the largest and fastest-growing segment of the market during the forecast period, owing to its large-scale applications in automotive & transportation, electronics, and other industries. Wrought alloys is estimated to be the second-largest alloy type in the magnesium alloys market in 2017 owing to its increasing applications in electronics, and aerospace & defense industries.
Based on end-use industry, the magnesium alloys market is segmented into automotive & transportation, electronics, aerospace & defense, power tools, and others. Aerospace & defense is estimated to be the largest segment of the magnesium alloys market in 2018, owing to the growing demand for magnesium alloys from body structure and powertrain applications. The electronics industry is the second-largest consumer of magnesium alloys. The penetration of magnesium alloys is increasing rapidly in the electronics industry due to its increasing use in 3Cs (cellphones, computers, and consumer electronics).
APAC is estimated to be the largest market for magnesium alloys in 2017. China and South Korea are the major markets for magnesium alloys due to the rising demand for magnesium alloys from the powertrain, body structure, cellphones, computers, and consumer electronics applications in these countries. These countries have also shown a rapid increase in the number of smartphone users in the recent past that is expected to continue over the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Magnesium Alloys Market
4.2 Magnesium Alloys Market, By Alloy Type
4.3 Magnesium Alloys Market, By End-Use Industry
4.4 Magnesium Alloys Market in the Automotive & Transportation Industry, By Application
4.5 Magnesium Alloys Market, By End-Use Industry and Region
4.6 Magnesium Alloys Market, By Country
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Growing Use of Magnesium Alloys in the Automotive Industry Due to Regulations Over Fuel Efficiency and Emissions
5.1.1.2 Advantages of Magnesium Alloys Over Other Alloys
5.1.2 Restraints
5.1.2.1 Uncertainty of Magnesium Price
5.1.2.2 Issues Related to Weldability and Corrosion Resistance
5.1.3 Opportunities
5.1.3.1 Potential Opportunity of Magnesium Alloys in the Medical (Biomedical) and Aerospace & Defense Industries
5.1.3.2 Growing Market for Electric Vehicles
5.1.3.3 Development of New Processes Such as Thixomolding and New Rheocasting
5.1.4 Challenges
5.1.4.1 Engineering Barriers Such as Formability at Room Temperature and Difficulty in Forging
5.2 Porter's Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Threat of Substitutes
5.2.3 Bargaining Power of Suppliers
5.2.4 Bargaining Power of Buyers
5.2.5 Intensity of Competitive Rivalry
6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends in the Aerospace Industry
6.4 Trends in the Automotive Industry
7 Magnesium Alloys Market, By Alloy Type
7.1 Introduction
7.2 Cast Alloy
7.3 Wrought Alloy
8 Magnesium Alloys Market, By End-Use Industry
8.1 Introduction
8.2 Automotive & Transportation
8.2.1 Body Structure
8.2.2 Powertrain
8.2.3 Interior
8.2.4 Chassis
8.3 Electronic
8.4 Aerospace & Defense
8.4.1 Commercial Helicopters
8.4.2 Military Helicopters
8.4.3 Fighter Aircraft
8.5 Power Tools
8.6 Others
8.6.1 Medical
8.6.2 Sporting Goods
9 Magnesium Alloys Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking
10.2.1 Nanjing Yunhai Special Metals Co. Ltd.
10.2.2 Magnesium Elektron
10.2.3 Meridian Lightweight Technologies China
10.3 Recent Developments
10.3.1 Expansions
10.3.2 Agreements, Partnerships, & Joint Ventures
10.3.3 New Product Launches
11 Company Profiles
11.1 Magnesium Elektron
11.2 KA Shui International Holdings Ltd.
11.3 Magontec
11.4 U.S. Magnesium
11.5 Nanjing Yunhai Special Metals Co. Ltd.
11.6 Meridian Lightweight Technologies
11.7 Amacor
11.8 Shanghai Regal Magnesium Limited Company
11.9 Shanxi Yinguang Huasheng Magnesium
11.10 Shanxi Credit Magnesium Co. Ltd.
11.11 Other Key Players
11.11.1 Dynacast
11.11.2 Shanxi Fugu Tianyu Mineral Industry
11.11.3 Posco
11.11.4 China Magnesium Corporation Limited
11.11.5 Dead Sea Magnesium
11.11.6 Spartan Light Metal Products
11.11.7 Smiths Advanced Metals
11.11.8 Rima Group
11.11.9 Yee Dongguan Science and Technology Co. Ltd.
11.11.10 Taiyuan Tongxiang Magnesium Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/8pgvhc/magnesium_alloys?w=5
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