Magnesium Metal Market Overview to 2022
The Magnesium metal market appears to be competitive with the presence of several large and small players operating in the global market. These major players participate in the market on the basis of price, type, quality, technology and innovation. Magnesium metal market is attributed to grow at a higher CAGR and likely to attract many entrants in the market resulting in to strong competition in the future. Manufacturers operating in the magnesium metal market are struggling to respond to the growing demand for product in batteries, lighter alloys, robots, wind turbines, and others. They ensure to produce best quality products based on characteristics, performance and factors that are trending in the market.
Competitive Analysis
The key players of Global Magnesium Metal Market are Wenxi YinGuang Magnesium Industry (Group) Co, Dead Sea Magnesium Ltd, RIMA Group, Magontec Ltd, POSCO, Solikamsk Magnesium Works OAO, Taiyuan Tongxiang Magnesium Co. Ltd, Nippon Kinzoku, US Magnesium LLC, Latrobe Magnesium Ltd and others.
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The report for Global Magnesium Metal Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
June 7, 2017 – Latrobe Magnesium Ltd (Australia), a leading magnesium development company, announced that the company has decided to start a magnesium production plant in Victoria’s Latrobe Valley by adopting a combined hydromet/thermal reduction process. In this extraction process, magnesium metal is produced from industrial fly ash which is termed as a waste stream from brown coal power generation. The preliminary studies about the technology, and developments about the production is started in December 2015 and planned to be completed in March 2018. The ordering of plant is expected to start in July 2018, with the product set to be out in the market after twelve months. Additionally, the plant is planned to locate at the centre of Victoria’s coal power generation precinct to provide a continuous access to feedstock. The Japanese and American distributors have already signed an agreement with the company to buy the opening 3000 tpa production, along with the majority portion of its 40000 expanded plant’s production. Moreover, the plant life is expected to be around 20 years and it is the world’s first magnesium extraction from fly ash.
October 14, 2016 – US Magnesium LLC (U.S.) a magnesium producing company, declared that the brownfield expansion of its magnesium production facility from 63500 to76500 has been delayed. The greater number of equipment for metallurgical and chemical portions of this production process have already been installed. However, spending on the plant is estimated to be more than initially planned but the commencement of project is not expected to start before 2018.
Magnesium Metal Market Key Points
- To study market overview of the Magnesium Metal.
- To estimate market size by product type, by application and region.
- To provide insights about market drivers, restrains and opportunities of Magnesium Metal market.
- To provide geographically market analysis and outlook for North America, Europe, Asia, and Rest of the World (ROW) and their countries.
- To analyze the Global Magnesium Metal Market based on various factors- supply chain analysis, porters five force analysis etc.
- To provide strategic profiling of the key players in the market, broadly analyzing their core competencies.
- To evaluate competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Magnesium Metal
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Regional Analysis
Geographically, Asia-Pacific region holds the majority of global magnesium metal market. China is the prominent player in the market owing to rapid urbanization, and increasing demand of the product in electrical & electronics industry. Growing popularity of aluminium alloy and die-casting alloys in transportation, aerospace, aviation, packaging, consumer goods has boosted the magnesium metal market demand in China, India, Japan and South Korea. North America has witnessed significant growth owing to growing research & development activities in automotive and aerospace sectors. Additionally, the market in the European region has received a significant boost due to growing demand from Russia to increase the production of titanium, aluminium alloys in the couple of years.
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