Dublin, July 19, 2024 (GLOBE NEWSWIRE) -- The "Magnesium - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Magnesium is estimated at US$5.1 Billion in 2023 and is projected to reach US$7.7 Billion by 2030, growing at a CAGR of 6.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
Emerging trends in the magnesium market include the development of new magnesium-based materials for medical applications, such as biodegradable implants that naturally dissolve in the body without leaving any residue. Additionally, the drive towards sustainable and recyclable materials is enhancing the appeal of magnesium in various industries.
As magnesium recycling technologies improve, the environmental impact of magnesium production is expected to decrease, aligning with global sustainability goals and potentially lowering production costs. These factors combined suggest a promising growth trajectory for magnesium, supported by its expanding application range and the global shift towards lightweight, durable, and eco-friendly materials.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Aluminum Alloying Application segment, which is expected to reach US$2.7 Billion by 2030 with a CAGR of a 6.4%. The Die Casting Application segment is also set to grow at 6.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.3 Billion in 2023, and China, forecasted to grow at an impressive 9.5% CAGR to reach $1.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Albemarle Corporation, Aremco Products, Inc., Belmont Metals, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 99 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $5.1 Billion |
| Forecasted Market Value (USD) by 2030 | $7.7 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Magnesium - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Expanding Use in Automotive Applications Spurs Magnesium Demand
- Rising Environmental Concerns Propel Growth in Magnesium-Based Eco-Friendly Products
- Innovation in Magnesium Alloys Throws the Spotlight on Aerospace Applications
- Here's How Lightweight Properties of Magnesium Expand Addressable Market Opportunity in Electronics
- Advances in Extraction and Processing Technologies Strengthen Business Case for Magnesium
- Regulatory Shifts towards Reducing Emissions Generate Accelerated Demand for Magnesium in Construction
- Increased Magnesium Usage in Personal Care Propels Market Growth
- Biomedical Applications Drive Adoption of Magnesium Alloys
- Growing Demand for High-Performance Materials Sustains Growth in Magnesium Market
- Evolving Consumer Preferences Towards Nutritional Supplements Propel Magnesium Sales
- Technological Breakthroughs in Recycling Processes Expand Magnesium's Sustainability Quotient
- Shift towards Lightweight Materials in Military Defense Spurs Magnesium Utilization
FOCUS ON SELECT PLAYERS(Total 73 Featured)
- Albemarle Corporation
- Aremco Products, Inc.
- Belmont Metals, Inc.
- Companhia Siderurgica Nacional SA (CSN)
- Dead sea Magnesium Ltd.
- Israel Chemicals Ltd. (ICL)
- Lehmann & Voss & Co. KG
- POSCO
- PQ Corporation
- Tokuyama Corporation
For more information about this report visit https://www.researchandmarkets.com/r/rkd7s6
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