Magnesium

Global Magnesium Market to Reach US$7.7 Billion by 2030

The global market for Magnesium estimated at US$5.3 Billion in the year 2024, is expected to reach US$7.7 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2024-2030. Aluminum Alloying, one of the segments analyzed in the report, is expected to record a 6.5% CAGR and reach US$2.7 Billion by the end of the analysis period. Growth in the Die Casting segment is estimated at 7.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.4 Billion While China is Forecast to Grow at 9.6% CAGR

The Magnesium market in the U.S. is estimated at US$1.4 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2030 trailing a CAGR of 9.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.6% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

Magnesium  - Key Trends and Drivers

Magnesium is a lightweight, silvery-white metal, recognized as the eighth most abundant element in the earth`s crust and the third most plentiful element dissolved in seawater. This element is well-known for its low density and high strength-to-weight ratio, making it an ideal choice for applications where weight reduction is critical. Magnesium alloys are extensively used in the automotive and aerospace industries to improve fuel efficiency by reducing vehicle weight. Additionally, magnesium is crucial in the production of aluminum alloys and is also used in the manufacture of electronics, such as mobile phones and laptops, due to its excellent heat dissipation properties. One of the primary growth drivers for magnesium is the automotive industry`s ongoing push towards lighter vehicles. As global regulations on carbon emissions become stricter, automakers are increasingly turning to lightweight materials like magnesium alloys, which can significantly reduce a vehicle`s weight and thus its fuel consumption and emissions. This trend is bolstered by technological advancements in magnesium alloy production, which are making these materials more cost-effective and robust, further enhancing their appeal to industries focused on energy efficiency and environmental sustainability.

Aircraft manufacturers are continuously seeking ways to enhance the fuel efficiency of their fleets, driven by both economic factors and environmental regulations. Magnesium`s use in aircraft construction, particularly in components such as seats, gearboxes, and engine parts, is expanding because it offers a substantial weight reduction compared to traditional materials. Moreover, the growth of the global aerospace sector, spurred by increasing air travel and military expenditures, is expected to further drive the demand for magnesium.

Emerging trends in the magnesium market include the development of new magnesium-based materials for medical applications, such as biodegradable implants that naturally dissolve in the body without leaving any residue. Additionally, the drive towards sustainable and recyclable materials is enhancing the appeal of magnesium in various industries. As magnesium recycling technologies improve, the environmental impact of magnesium production is expected to decrease, aligning with global sustainability goals and potentially lowering production costs. These factors combined suggest a promising growth trajectory for magnesium, supported by its expanding application range and the global shift towards lightweight, durable, and eco-friendly materials.

SCOPE OF STUDY:

The report analyzes the Magnesium market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Application (Aluminum Alloying, Die Casting, Metal Reduction, Desulfurization, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 73 Featured) -

• Albemarle Corporation
• Aremco Products, Inc.
• Belmont Metals, Inc.
• Companhia Siderurgica Nacional SA (CSN)
• Dead sea Magnesium Ltd.
• Israel Chemicals Ltd. (ICL)
• Lehmann & Voss & Co. KG
• POSCO
• PQ Corporation
• Tokuyama Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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