Metal Magnesium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The metal magnesium market is estimated at around 984.96 kilotons in 2022, and the market is projected to register a CAGR of over 5% during the forecast period (2022-2027).
The COVID-19 pandemic negatively impacted the market in 2020. However, the demand increased in 2021 due to the rise in consumption from various growing end-user sectors, such as automotive and electronics. Specifically, in automotive, metal magnesium is used in the manufacturing of car bodies, seat frames, steering wheels, transmission cases, and others. Moreover, in electronics, metal magnesium is used in heat dissipation systems, television and computer casings, and others.
Key HighlightsThe metal magnesium market is partially consolidated in nature. Some of the key players in the studied market include Nanjing Yunhai Special Metal Co. Ltd, American Magnesium, Dead Sea Magnesium (ICL Group), Wenxi YinGuang Magnesium Industry (Group) Co. Ltd, and US Magnesium LLC, among others (not in any particular order).
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