Magnesium alloys are a mixture of magnesium and other metals like aluminum, zinc, silicon, and copper. It has low density, good mechanical properties, and excellent castability and processability. It is an ideal material for manufacturers for all types of vehicles for the road, rail, aviation, and space
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Magnesium Alloys Market Scope:
To get the final quantitative and qualitative data, all possible factors influencing the markets included in this research study have been considered, thoroughly analyzed, confirmed by primary research, and assessed. The market size for top-level markets and sub-segments is assessed, and the influence of inflation, economic crashes, regulatory & policy changes, and other variables is accounted for in market forecasting. This data is combined with detailed inputs and analysis from the firms and presented in this report.
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The report’s market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are calculated using weights allocated to each segment based on their utilization rate and average sale price. The percentage adoption or usage of the given market Size in the corresponding area or nation is used to calculate the country-wise splits of the overall market and its sub-segments.
Magnesium Alloys Market Overview:
The purpose of this report is to present a thorough overview of the global Magnesium Alloys Market, segmented by industry and geography. The main market growth factors for the magnesium alloys industry are covered in great detail in the study. The research carefully examines the market’s value chain.
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Segmentation:
Based on the Application, the magnesium alloys market is segmented into automotive & transportation, electronics, aerospace & defense, power tools and others. Automotive & Transportation is expected to contribute more than 35% share in the global market by 2027. Magnesium alloy is used in a wide variety of automobile applications including body, chassis, and interior components. Some of the examples include instrument panels, steering wheels, engine cradles, seats, and transfer cases. In the automotive market, alloys used are AZ, AM, AE, and AS series, which are high-pressure die cast to take benefit of magnesium’s excellent die castability. Magnesium alloys are used to support brackets for brakes and clutch, housing for transmission. the automotive industry has used a wide range of magnesium components on vehicles like in pistons, oil pumps, mounts, brackets and housings. The demand for the electrical vehicles in the near future is expected to drive the demand for magnesium alloys.
Key Players:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing managers, while secondary research included an examination of the main manufacturers’ quarterly and financial performance. Secondary sources are used to produce worldwide market percentage splits, market shares, growth rates, and breakdowns, which are then checked using primary data.
The major players covered in the Magnesium Alloys market report are
• Ka Shui International Holdings Ltd.
• Magontec
• U.S. Magnesium LLC
• Nanjing Yunhai Special Metals Co. Ltd.
• Meridian Lightweight Technologies
• Advanced Magnesium Alloys Corporation (AMCOR)
• Shanghai Regal Magnesium Limited Company
• Shanxi Yinguang Huasheng Magnesium Co. Ltd.
• Shanxi Credit Magnesium Co. Ltd.
• Dynacast
• Shanxi Fugu Tianyu Mineral Industry
• Posco
• China Magnesium Corporation Limited
• Dead Sea Magnesium
• Spartan Light Metal Products
• Smiths Advanced Metals
• Rima Group
• Yee Dongguan Science and Technology Co. Ltd.
• Taiyuan Tongxiang Magnesium Co. Ltd.
Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Magnesium Alloys Market:
The COVID-19 pandemic has impacted industries such as aerospace and military, agriculture, autos, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. COVID-19 has had an influence on the Magnesium Alloys market as a whole, as well as the growth rate in 2019-2020, as the impact of COVID-19 has spread. Our most recent questions, views, and market information are vital to the Magnesium Alloys industry’s firms and associations.
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Key Questions Answered in the Magnesium Alloys Market Report are:
- Which segment grabbed the largest share in the Magnesium Alloys market?
- What was the competitive scenario of the Magnesium Alloys market in 2021?
- Which are the key factors responsible for the Magnesium Alloys market growth?
- Which region held the maximum share in the Magnesium Alloys market in 2021?
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