Global Aerospace Magnesium Alloys Market Growth 2023-2029

Global Aerospace Magnesium Alloys Market Growth 2023-2029

Magnesium alloys are alloys composed of magnesium-based and other elements. Magnesium alloys are the lightest structural metal materials used in the aircraft, spacecraft and rocket and missile manufacturing industries. Magnesium is lighter than aluminium, with a specific gravity of 1.8 and lower strength, only 200 to 300 MPa (20 to 30 kg/ square millimetre), and is mainly used to manufacture low-load parts.

LPI (LP Information)' newest research report, the “Aerospace Magnesium Alloys Industry Forecast” looks at past sales and reviews total world Aerospace Magnesium Alloys sales in 2022, providing a comprehensive analysis by region and market sector of projected Aerospace Magnesium Alloys sales for 2023 through 2029. With Aerospace Magnesium Alloys sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Aerospace Magnesium Alloys industry.

This Insight Report provides a comprehensive analysis of the global Aerospace Magnesium Alloys landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Aerospace Magnesium Alloys portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Aerospace Magnesium Alloys market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Aerospace Magnesium Alloys and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Aerospace Magnesium Alloys.

The global Aerospace Magnesium Alloys market size is projected to grow from US$ 191.7 million in 2022 to US$ 321.1 million in 2029; it is expected to grow at a CAGR of 321.1 from 2023 to 2029.

Global key players of aerospace magnesium alloys include Luxfer MEL Technologies, Magontec, Shanxi Yinguang Huasheng Magnesium, Shanxi Bada Magnesium, Smiths Metal, etc. The top three players hold a share over 58%. North America is the largest market, has a share about 39%, followed by Europe and Asia-Pacific, with share 29% and 22%, separately. In terms of product type, Casting Alloys is the largest segment, occupied for a share of 50%, and in terms of application, Commercial has a share about 59 percent.

This report presents a comprehensive overview, market shares, and growth opportunities of Aerospace Magnesium Alloys market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Casting Alloys
Wrought Alloys

Segmentation by application
Commercial
Military

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Luxfer MEL Technologies
Magontec
Shanxi Yinguang Huasheng Magnesium
Shanxi Bada Magnesium
Smiths Metal
Regal Magnesium
Allite, Inc.
Shanxi Fugu Tianyu Mineral
Alloys International
Huashun Magnesium Industry
Tech Steel & Materials

Key Questions Addressed in this Report

What is the 10-year outlook for the global Aerospace Magnesium Alloys market?

What factors are driving Aerospace Magnesium Alloys market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Aerospace Magnesium Alloys market opportunities vary by end market size?

How does Aerospace Magnesium Alloys break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.