Global Automotive Magnesium Alloy Market Growth 2023-2029

Global Automotive Magnesium Alloy Market Growth 2023-2029

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.

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

This Insight Report provides a comprehensive analysis of the global Automotive Magnesium Alloy 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 Automotive Magnesium Alloy portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Automotive Magnesium Alloy market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Automotive Magnesium Alloy 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 Automotive Magnesium Alloy.

The global Automotive Magnesium Alloy market size is projected to grow from US$ 1153 million in 2022 to US$ 1909.2 million in 2029; it is expected to grow at a CAGR of 1909.2 from 2023 to 2029.

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.

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

Market Segmentation:

Segmentation by type
AZ （Mg-Al-Zn）
AM （Mg-AlMn）
AS （Mg-Al-Si）
Other types

Segmentation by application
Steering Wheel
Seat Frames
Powertrain Parts
Others

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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Automotive Magnesium Alloy market?

What factors are driving Automotive Magnesium Alloy market growth, globally and by region?

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

How do Automotive Magnesium Alloy market opportunities vary by end market size?

How does Automotive Magnesium Alloy 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.