Global Automotive Magnesium Alloy Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Automotive Magnesium Alloy Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Automotive Magnesium Alloy market size was valued at USD 1212.8 million in 2023 and is forecast to a readjusted size of USD 1933.6 million by 2030 with a CAGR of 6.9% during review period.

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.

Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.

The Global Info Research report includes an overview of the development of the Automotive Magnesium Alloy industry chain, the market status of Steering Wheel (AZ （Mg-Al-Zn）, AM （Mg-AlMn）), Seat Frames (AZ （Mg-Al-Zn）, AM （Mg-AlMn）), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Automotive Magnesium Alloy.

Regionally, the report analyzes the Automotive Magnesium Alloy markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Automotive Magnesium Alloy market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Automotive Magnesium Alloy market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Automotive Magnesium Alloy industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K MT), revenue generated, and market share of different by Type (e.g., AZ （Mg-Al-Zn）, AM （Mg-AlMn）).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Automotive Magnesium Alloy market.

Regional Analysis: The report involves examining the Automotive Magnesium Alloy market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Automotive Magnesium Alloy market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Automotive Magnesium Alloy:

Company Analysis: Report covers individual Automotive Magnesium Alloy manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Automotive Magnesium Alloy This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Steering Wheel, Seat Frames).

Technology Analysis: Report covers specific technologies relevant to Automotive Magnesium Alloy. It assesses the current state, advancements, and potential future developments in Automotive Magnesium Alloy areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Automotive Magnesium Alloy market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Automotive Magnesium Alloy market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
AZ （Mg-Al-Zn）
AM （Mg-AlMn）
AS （Mg-Al-Si）
Other types

Market segment by Application
Steering Wheel
Seat Frames
Powertrain Parts
Others

Major players covered
Meridian
Dynacast
STOLFIG
GF
DongGuan Eontec
Faw Foundry
Nanjing Yunhai Special Metals
Yinguang Magnesium Industry
Million and Precision Industrial Holdings

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Automotive Magnesium Alloy product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Automotive Magnesium Alloy, with price, sales, revenue and global market share of Automotive Magnesium Alloy from 2019 to 2024.

Chapter 3, the Automotive Magnesium Alloy competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Automotive Magnesium Alloy breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Automotive Magnesium Alloy market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Automotive Magnesium Alloy.

Chapter 14 and 15, to describe Automotive Magnesium Alloy sales channel, distributors, customers, research findings and conclusion.