Report ID: SQMIG15J2062
Magnesium Market Size, Share, Growth Analysis, By Application(Iron & Steel Making, Die Casting, Aluminium Alloy making, Titanium Reduction), By End-Use Industry(Aerospace & Defence, Automotive, Medical & Healthcare, Electronics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15J2062 |
Region:
Global |
Published Date: July, 2001
Pages:
165
|
Tables:
66 |
Figures:
75
Magnesium Market Regional Insights
Asia Pacific region led the global magnesium market in 2021, accounting for more than 45% of market revenue and it is anticipated to maintain its dominance throughout the forecast period. In countries like India and China, the expenditures for electrical automotive have attained growth. Along with this, the rapid growth witnessed by military aviation, aerospace, and space venture projects is further empowering the Magnesium Market growth. In 2021 Global military aircraft and aerospace manufacturing market was estimated at approximately 255.8 billion U.S. dollars Additionally, the significance of steel industries in countries such as India, and Japan have further contributed to enhancing the market size of the global Magnesium Market all over the forecasted period.
Furthermore, North America is predicted to be the second largest magnesium market dominator. The growing need for aluminium and steel alloys for diverse industrial purposes pertained to the rising growth. Moreover, enhanced expenditure on aerospace, defence and Electrical vehicles has ignited the market demand for magnesium thereby boosting the market share.
Magnesium Market Report Snapshots
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