Global Automotive Magnesium Alloy Market Research Report 2023(Status and Outlook)

Global Automotive Magnesium Alloy Market Research Report 2023(Status and Outlook)

Report Overview

A combination of light weight, high specific strength, and good castability makes magnesium alloys a promising engineering material for the automotive and aerospace industries. Mg-Al-based alloys, especially the AZ and AM series, combine good room-temperature strength and ductility with satisfying salt-spray corrosion resistance and excellent castability.

Vehicle weight reduction is one of the major means available to improve automotive fuel efficiency. High-strength steels, aluminum (Al), and polymers are already being used to reduce weight significantly, but substantial additional reductions could be achieved by greater use of low-density magnesium (Mg) and its alloys. Magnesium alloys are currently used in relatively small quantities for auto parts, generally limited to die castings, e.g., housings.

Europe and North America are anticipated to witness significant growth over the forecast period owing to rise in automotive production. Asia Pacific is predicted to observe high growth due to increasing demand for luxury vehicle and increasing annual vehicle production.

The Global Automotive Magnesium Alloy Market Size was estimated at USD 1178.7 million in 2022 and is projected to reach USD 1917.64 million by 2029, exhibiting a CAGR of 7.20% during the forecast period.

Bosson Research’s latest report provides a deep insight into the global Automotive Magnesium Alloy market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Automotive Magnesium Alloy Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Automotive Magnesium Alloy market in any manner.

Global Automotive Magnesium Alloy Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Meridian

Dynacast

STOLFIG

GF

DongGuan Eontec

Faw Foundry

Nanjing Yunhai Special Metals

Yinguang Magnesium Industry

Million and Precision Industrial Holdings

Market Segmentation (by Type)

AZ （Mg-Al-Zn）

AM （Mg-AlMn）

AS （Mg-Al-Si）

Other types

Market Segmentation (by Application)

Commercial

Government

Industrial

Other Security Area

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Automotive Magnesium Alloy Market

Overview of the regional outlook of the Automotive Magnesium Alloy Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors