Automotive Magnesium Alloy Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Alloy Type (AZ Magnesium Alloy, AM Magnesium Alloy, ZK Magnesium Alloy, and Others), By Application Type (Powertrain, Interior, Exterior, and Others), By Region, Competition, 2018-2028

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
Customization Enquiry

Buy Now

Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 3.3 Billion

CAGR (2023-2028)

6.01%

Fastest Growing Segment

Interior

Largest Market

Asia-Pacific


Market Overview

Global Automotive Magnesium Alloy Market was valued at USD 3.3 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.01% through 2028. The automotive magnesium alloy market is a significant segment within the automotive industry, driven by the demand for lightweight materials to enhance fuel efficiency, performance, and sustainability in vehicles. Magnesium alloys play a crucial role in modern automotive manufacturing, offering high strength-to-weight ratios, excellent machinability, and corrosion resistance. Applications of automotive magnesium alloys encompass powertrain components, interior trim, exterior body panels, and other structural and decorative elements. In powertrain applications, magnesium alloys are employed to reduce weight and improve fuel efficiency, contributing to lower emissions and enhanced performance. Interior applications include seat frames, instrument panels, and steering column components, where lightweight materials help optimize vehicle comfort and ergonomics. Exterior applications encompass body panels, door frames, and trim components, where magnesium alloys offer strength, durability, and design flexibility.

The automotive magnesium alloy market is driven by several factors, including stringent fuel efficiency regulations, consumer demand for lightweight vehicles, and the need to reduce greenhouse gas emissions. Automakers are increasingly adopting magnesium alloys to achieve weight savings and meet sustainability targets without compromising safety or performance. Technological advancements in alloy development, manufacturing processes, and surface treatments have expanded the application and performance capabilities of automotive magnesium alloys. This includes innovations in alloy composition, casting techniques, and corrosion protection methods, enabling broader adoption in structural and aesthetic applications across vehicle platforms. Opportunities for market growth lie in the development of advanced magnesium alloys with improved mechanical properties, recyclability, and environmental sustainability. Collaborative efforts between automakers, material suppliers, and research institutions offer opportunities for innovation and technology transfer, driving the adoption of magnesium alloys in next-generation vehicles.

In conclusion, the automotive magnesium alloy market is poised for growth as automakers seek lightweight materials to meet fuel efficiency and sustainability goals. By addressing challenges and capitalizing on emerging opportunities, stakeholders can drive innovation and expand the adoption of magnesium alloys, shaping the future of automotive design and manufacturing.

Market Drivers

Lightweighting and Fuel Efficiency Demands

One of the primary drivers of the Global Automotive Magnesium Alloy market is the automotive industry's relentless pursuit of lightweighting to improve fuel efficiency and reduce emissions. As governments and consumers push for more fuel-efficient vehicles and stricter environmental regulations, automakers are under pressure to find innovative solutions to shed weight without compromising safety or performance. Magnesium alloys have emerged as a compelling answer to this challenge. Magnesium is one of the lightest structural materials available, with a density about 1.7 times lower than that of aluminum and 4.5 times lower than steel. This inherent lightweight property makes magnesium alloys an ideal choice for components that are not only critical for safety but also have a significant impact on overall vehicle weight, such as body structures, transmission cases, and engine components. The use of magnesium alloys in automotive manufacturing results in substantial weight reductions, leading to improved fuel efficiency and reduced carbon emissions. For example, a vehicle with a magnesium alloy-intensive structure can achieve better gas mileage due to its reduced weight. As environmental concerns intensify and regulations become more stringent, the demand for magnesium alloys in the automotive sector is expected to grow steadily.

Stringent Emission Regulations and Sustainability Goals

Stringent emission regulations aimed at reducing the environmental impact of the automotive industry are driving the adoption of magnesium alloys. Governments and regulatory bodies worldwide are imposing increasingly strict emission standards, pushing automakers to develop more environmentally friendly vehicles. Magnesium alloys contribute to these efforts by reducing vehicle weight and improving fuel efficiency, thus helping automakers meet these challenging targets. Furthermore, sustainability has become a key concern for both automakers and consumers. Magnesium is abundant and recyclable, making it an environmentally responsible choice for vehicle manufacturing. Unlike some other materials, magnesium alloys can be efficiently recycled, reducing the need for new mining and refining processes. This aligns with automakers' goals to reduce their carbon footprint and promote sustainability throughout the vehicle's lifecycle. As a result, magnesium alloys are becoming an essential component of automakers' strategies to achieve compliance with emission regulations and sustainability goals while maintaining high standards of safety and performance.

Enhanced Vehicle Performance and Safety

In addition to contributing to lightweighting and fuel efficiency, magnesium alloys are known for their potential to enhance vehicle performance and safety. While magnesium's lightweight nature is beneficial for fuel economy, it can also improve handling, acceleration, and braking performance. This is especially significant for electric and hybrid vehicles where reducing weight is crucial for optimizing battery range and overall performance. Moreover, magnesium alloys offer excellent strength-to-weight ratios, which are essential for maintaining structural integrity and passenger safety. These alloys are used in various safety-critical components, such as steering columns, seat frames, and cross-car beams, which are designed to withstand impact forces during accidents. The high strength and impact-absorption characteristics of magnesium alloys contribute to safer vehicle designs. In the context of electric vehicles (EVs), magnesium alloys can play a pivotal role in ensuring the safety of the high-voltage components and battery enclosures, where weight reduction is necessary without compromising on protection against electrical hazards.

Advancements in Alloy Development and Manufacturing Processes

The continuous evolution of magnesium alloy development and manufacturing processes is another significant driver of market growth. Research and development efforts in the automotive industry have led to the creation of advanced magnesium alloys with improved properties, such as higher strength, better corrosion resistance, and enhanced castability. These innovations have made magnesium alloys more attractive to automakers, as they can now meet the demanding performance requirements of modern vehicles. Advanced casting and machining techniques have also improved the ease of manufacturing complex components, making magnesium alloys a more viable choice for mass production.

For example, alloying elements like aluminum and rare earth metals are added to magnesium to enhance its properties. This results in alloys like AZ91 and AM60, which offer improved strength and corrosion resistance. The development of high-pressure die casting (HPDC) and thixomolding processes has enabled the production of intricate and lightweight components that were once difficult to manufacture using magnesium alloys. These advancements in alloy development and manufacturing processes have expanded the application of magnesium alloys in various vehicle components, ranging from engine blocks to suspension parts, and have contributed to the growth of the Global Automotive Magnesium Alloy market.

Cost-Efficiency and Competitive Advantage

The cost-efficiency and competitive advantage offered by magnesium alloys are essential drivers for their adoption in the automotive industry. While magnesium alloys are typically more expensive than traditional materials like steel and aluminum on a per-kilogram basis, their use can be cost-effective when considering the overall benefits. The lightweight properties of magnesium alloys reduce the vehicle's fuel consumption, which leads to long-term cost savings for consumers and fleet operators. Additionally, the improved fuel efficiency and reduced emissions can result in tax incentives and rebates in some regions, further promoting the adoption of magnesium alloys. Furthermore, magnesium alloys offer automakers a competitive edge in the market. Vehicles with magnesium-intensive components can be marketed as more fuel-efficient, environmentally friendly, and performance-oriented. This can attract environmentally conscious consumers and those looking for advanced, high-performance vehicles. In addition to cost-efficiency, the recyclability of magnesium alloys contributes to long-term economic benefits, as recycled materials can be used to reduce production costs. As the recycling infrastructure for magnesium alloys develops, this advantage is expected to become more pronounced.

 

Download Free Sample Report

Key Market Challenges

Cost and Price Volatility

One of the significant challenges facing the Global Automotive Magnesium Alloy market is the cost associated with the production and use of magnesium alloys. While magnesium itself is an abundant element, the extraction and refinement processes can be energy-intensive and expensive. The energy costs associated with primary magnesium production can fluctuate, impacting the overall cost of the alloy. In addition, the alloying elements used to improve the properties of magnesium alloys, such as aluminum, are also subject to price fluctuations. The cost of magnesium alloys, when compared to traditional materials like steel and aluminum, is often higher on a per-kilogram basis. This cost differential can be a significant deterrent for automakers looking to incorporate magnesium alloys into their vehicle designs. To overcome this challenge, manufacturers must explore strategies to reduce the cost of magnesium alloys or justify their use by emphasizing the long-term benefits of improved fuel efficiency and emissions reductions. Price volatility in the magnesium alloy market can make long-term planning and cost estimation challenging for both automakers and suppliers. Economic and geopolitical factors can lead to abrupt price fluctuations, affecting production budgets and profitability. This price instability can hinder the widespread adoption of magnesium alloys in the automotive sector.

Corrosion Resistance and Surface Treatment

Another challenge faced by the Global Automotive Magnesium Alloy market relates to the corrosion resistance of magnesium alloys. Magnesium is highly susceptible to corrosion, especially in harsh environments or when exposed to moisture and salt. This vulnerability necessitates the implementation of effective corrosion protection measures to ensure the durability and longevity of magnesium alloy components in vehicles. Various surface treatments, coatings, and corrosion-resistant technologies are employed to mitigate the corrosion risk associated with magnesium alloys. However, the effectiveness of these measures varies, and their application can add complexity and cost to the manufacturing process. Ensuring that corrosion-resistant coatings remain intact throughout a vehicle's lifecycle is an ongoing challenge, particularly in regions with severe winters or coastal environments. Corrosion issues may also affect the recyclability of magnesium alloys. If corrosion-resistant coatings are not effectively removed during recycling processes, the recycled material may not meet the required quality standards, which can hinder the sustainability goals of the automotive industry.

Limited Knowledge and Expertise

The Global Automotive Magnesium Alloy market faces a challenge related to the limited knowledge and expertise in working with magnesium alloys, both among automakers and within the supply chain. Unlike traditional materials like steel and aluminum, magnesium alloys require specialized knowledge and manufacturing processes to ensure optimal performance and safety. Manufacturers, engineers, and designers must have a deep understanding of the unique properties and characteristics of magnesium alloys to fully leverage their benefits and address their challenges. This includes knowledge about alloy selection, casting methods, thermal considerations, and corrosion protection measures. Furthermore, education and training are needed to disseminate this knowledge throughout the automotive industry. Many professionals may not be familiar with the specific requirements and nuances of working with magnesium alloys. This knowledge gap can be a significant barrier to the adoption of magnesium alloys, as automakers may be hesitant to invest in a material they do not fully understand.

Limited Supply Chain Capacity

The availability and capacity of the magnesium alloy supply chain present a significant challenge to the Global Automotive Magnesium Alloy market. Unlike traditional materials like steel and aluminum, which have well-established supply chains, the magnesium alloy supply chain is still developing and may not be as robust or flexible. Several factors contribute to supply chain limitations. First, the production of magnesium itself is concentrated in a few countries, which can lead to supply disruptions due to geopolitical or economic factors. The supply of alloying elements, such as aluminum, is also subject to market fluctuations and may not always align with automotive demand. Furthermore, the specialized equipment and processes required for magnesium alloy production can be costly and may not be readily available in all regions. This can limit the geographic flexibility of the supply chain and result in longer lead times for magnesium alloy components. Supply chain challenges can also impact the cost-effectiveness of magnesium alloy adoption. Automakers may face higher material and production costs, as well as the risk of supply disruptions that could affect their manufacturing schedules. Additionally, limited supply chain capacity can create bottlenecks that slow the expansion of magnesium alloy use in the automotive sector.

Regulatory Compliance and Certification

The Global Automotive Magnesium Alloy market encounters challenges related to regulatory compliance and certification. Governments and regulatory bodies have established strict safety and quality standards for automotive components, and magnesium alloy components must meet these requirements to ensure the safety and reliability of vehicles. However, certification processes for magnesium alloy components may not be as well-established or standardized as those for traditional materials. The lack of standardized testing procedures, quality control protocols, and certification criteria can create uncertainty for automakers and suppliers. Certification challenges also stem from the limited historical data and experience with magnesium alloys in automotive applications. As a relatively new material in the industry, there may be a lack of comprehensive long-term performance data, which can hinder the certification and approval process. Automakers and regulators need assurance that magnesium alloy components will meet safety and durability standards over the lifespan of a vehicle. Furthermore, the unique characteristics of magnesium alloys, such as their flammability, require specialized safety considerations and testing. Ensuring that magnesium alloy components do not pose fire hazards in the event of an accident or collision is of paramount importance.

Key Market Trends

Lightweighting for Enhanced Fuel Efficiency and Performance

A significant and enduring trend in the Global Automotive Magnesium Alloy market is the relentless pursuit of lightweighting. Lightweight materials are in high demand across the automotive industry due to their ability to improve fuel efficiency, reduce emissions, and enhance overall vehicle performance. Magnesium alloys, known for their exceptional lightweight properties, have gained prominence as a key enabler of this trend. The automotive industry is under constant pressure to meet stringent fuel efficiency standards and emission regulations. The use of magnesium alloys in vehicle design and manufacturing allows automakers to reduce the weight of critical components without compromising safety, strength, or durability. As a result, these alloys are increasingly being employed in various automotive applications, including engine components, transmission cases, structural components, and interior parts. Magnesium, being significantly lighter than aluminum and steel, can contribute to substantial weight savings in a vehicle. For instance, replacing steel or aluminum components with magnesium alloys can lead to significant reductions in the overall weight of a vehicle. The advantages of lightweighting extend to improved acceleration, handling, and braking performance, which is especially beneficial in electric vehicles (EVs) and high-performance vehicles. As the automotive industry continues to place a premium on lightweighting to meet fuel efficiency and performance goals, the demand for magnesium alloys in vehicle manufacturing is expected to remain robust. This trend is not only driven by regulatory pressures but also by consumer preferences for more fuel-efficient and eco-friendly vehicles.

Sustainability and Environmental Considerations

Sustainability is an overarching trend that has permeated all aspects of the automotive industry, including the materials used in vehicle manufacturing. Magnesium alloys have gained favor in this context due to their sustainability and eco-friendly attributes. Magnesium is an abundant element, and the mining and refining processes required for its extraction are less environmentally impactful compared to some other materials. Furthermore, magnesium alloys can be recycled efficiently, thus reducing the need for primary extraction and refining. The ability to recycle magnesium alloys aligns with automakers' efforts to reduce their environmental footprint and promote sustainability throughout the entire lifecycle of a vehicle. Incorporating magnesium alloys into vehicle design helps automakers meet sustainability goals and address consumer concerns regarding environmental impact. By reducing vehicle weight and improving fuel efficiency, magnesium alloys contribute to lower carbon emissions and a smaller overall environmental footprint. This aligns with global efforts to reduce greenhouse gas emissions and combat climate change. Another aspect of sustainability is the shift toward electric vehicles (EVs) and hybrid vehicles. Magnesium alloys play a crucial role in these emerging markets by offering lightweight solutions for batteries and high-voltage components. By reducing the weight of EVs, magnesium alloys help extend battery range and improve overall energy efficiency, further contributing to the sustainability of the automotive industry.

Advancements in Alloy Development

The continuous advancement of magnesium alloy development is a key trend in the Global Automotive Magnesium Alloy market. Over the years, substantial research and development efforts have been directed towards creating magnesium alloys with improved properties and performance characteristics. One area of focus has been enhancing the strength and durability of magnesium alloys. Alloying elements like aluminum, rare earth metals, and other proprietary additives are used to modify the properties of magnesium alloys. These advancements result in alloys with increased strength, better corrosion resistance, improved heat resistance, and superior castability. For example, the AZ91 and AM60 magnesium alloys have become popular choices in automotive applications due to their superior properties. These advanced alloys offer higher tensile strength and improved resistance to corrosion compared to conventional magnesium alloys. Their use is especially beneficial in critical components such as transmission cases, engine blocks, and suspension parts. Additionally, developments in casting and machining techniques have expanded the possibilities for manufacturing intricate components using magnesium alloys. High-pressure die casting (HPDC) and thixomolding, for instance, enable the production of complex, lightweight, and high-strength components, making magnesium alloys more viable for mass production. These advancements in alloy development and manufacturing processes have broadened the scope of applications for magnesium alloys in the automotive industry. As researchers continue to innovate in this field, we can expect to see further improvements in the properties and performance of magnesium alloys, expanding their use in critical automotive components.

Electrification and High-Voltage Component Applications

The trend toward electrification and the growing market for electric vehicles (EVs) and hybrid vehicles is influencing the use of magnesium alloys in the automotive sector. As the automotive industry shifts toward greener and more energy-efficient transportation options, magnesium alloys play a pivotal role in these emerging markets. One of the key challenges in EV design is reducing the weight of high-voltage components, such as battery enclosures and support structures, while ensuring the safety of these components. Magnesium alloys, with their exceptional strength-to-weight ratio, are well-suited for these applications. Their use helps reduce the overall weight of EVs, thereby increasing energy efficiency and extending battery range.

Segmental Insights

Application Type Analysis

The market for automotive magnesium alloys has been divided into four application categories: exterior, interior, powertrain, and others. With the biggest revenue share, the powertrain segment is predicted to continue leading the way for the duration of the forecast. Because of their excellent castability, high strength-to-weight ratio, and good damping qualities, magnesium alloys are widely used in the manufacturing of gearbox cases, oil pans, and engine blocks, among other powertrain components. Since magnesium alloys also dramatically reduce weight and improve fuel efficiency, automakers are drawn to them. Some of the main factors propelling the growth of the powertrain segment are the growing acceptance of electric and hybrid vehicles, the growing need for lightweight vehicles, and strict regulations regarding emissions and fuel economy.

 

Download Free Sample Report

Regional Insights

  • With the biggest revenue share, the automotive magnesium alloy market was dominated by the Asia-Pacific region. The demand for automotive magnesium alloys in the region is being driven by the rising production of passenger and commercial cars, especially in developing countries like China and India. Furthermore, it is anticipated that the growing middle class and rising disposable incomes will increase demand for luxury cars, which will in turn drive up demand for lightweight materials like magnesium alloys. Because of the strict government regulations pertaining to carbon emissions and fuel efficiency, the North American market is anticipated to grow at a significant rate over the course of the forecast period. The US Environmental Protection Agency (EPA) has mandated that automakers improve the fuel efficiency of their vehicles, which has raised demand.

Recent Developments

  • Magontec Limited: The company debuted a brand-new line of high-performance magnesium alloys in 2021 under the name Magsafe. These alloys, which offer superior strength, ductility, and corrosion resistance along with weight reduction and increased fuel efficiency, are especially made for automotive applications.
  • Lightweight Technologies from Meridian-Meridian introduced Elektron 675, a new range of high-strength magnesium alloys, in 2020. These alloys are perfect for automotive applications because of their superior strength, resistance to corrosion, and capacity to absorb shock.
  • Yinguang Huasheng Magnesium Industry Co. Ltd., Shanxi, China  Magnealloy is a brand-new line of magnesium alloys that Shanxi Yinguang introduced in 2020. These alloys are made to be safe, lightweight, and fuel-efficient in order to satisfy the high standards of performance set by the automotive industry.

Key Market Players

  • Magontec Limited
  • Meridian Lightweight Technologies Inc.
  • Nanjing Yunhai Special Metals Co. Ltd.
  • Smiths Advanced Metals Plc.
  • STOLFIG Industrial Co. Ltd.
  • Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd.
  • US Magnesium LLC
  • Yunnan Aluminium Co. Ltd.
  • Dead Sea Magnesium Ltd.
  • DongGuan Eontec Co. Ltd.

By Alloy Type

By Application Type

By Region
  • AZ Magnesium Alloy
  • AM Magnesium Alloy
  • ZK Magnesium Alloy
  • Others
  • Powertrain
  • Interior
  • Exterior
  • Others
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Automotive Magnesium Alloy Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Automotive Magnesium Alloy Market, By Alloy Type:

o   AZ Magnesium Alloy

o   AM Magnesium Alloy

o   ZK Magnesium Alloy

o   Others

  • Automotive Magnesium Alloy Market, By Application Type:

o   Powertrain

o   Interior

o   Exterior

o   Others

  • Automotive Magnesium Alloy Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Automotive Magnesium Alloy Market.

Available Customizations:

Global Automotive Magnesium Alloy market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Automotive Magnesium Alloy Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]               

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Automotive Magnesium Alloy Market

5.    Global Automotive Magnesium Alloy Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Alloy Type Market Share Analysis (AZ Magnesium Alloy, AM Magnesium Alloy, ZK Magnesium Alloy, and Others)

5.2.2.     By Application Type Market Share Analysis (Powertrain, Interior, Exterior, and Others)

5.2.3.     By Regional Market Share Analysis

5.2.3.1.         Asia-Pacific Market Share Analysis

5.2.3.2.         Europe & CIS Market Share Analysis

5.2.3.3.         North America Market Share Analysis

5.2.3.4.         South America Market Share Analysis

5.2.3.5.         Middle East & Africa Market Share Analysis

5.2.4.     By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3.  Global Automotive Magnesium Alloy Market Mapping & Opportunity Assessment

5.3.1.     By Alloy Type Market Mapping & Opportunity Assessment

5.3.2.     By Application Type Market Mapping & Opportunity Assessment

5.3.3.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Automotive Magnesium Alloy Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value  

6.2.  Market Share & Forecast

6.2.1.     By Alloy Type Market Share Analysis

6.2.2.     By Application Type Market Share Analysis

6.2.3.     By Country Market Share Analysis

6.2.3.1.         China Market Share Analysis

6.2.3.2.         India Market Share Analysis

6.2.3.3.         Japan Market Share Analysis

6.2.3.4.         Indonesia Market Share Analysis

6.2.3.5.         Thailand Market Share Analysis

6.2.3.6.         South Korea Market Share Analysis

6.2.3.7.         Australia Market Share Analysis

6.2.3.8.         Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China Automotive Magnesium Alloy Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value  

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Alloy Type Market Share Analysis

6.3.1.2.2.             By Application Type Market Share Analysis

6.3.2.     India Automotive Magnesium Alloy Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value  

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Alloy Type Market Share Analysis

6.3.2.2.2.             By Application Type Market Share Analysis

6.3.3.     Japan Automotive Magnesium Alloy Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value  

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Alloy Type Market Share Analysis

6.3.3.2.2.             By Application Type Market Share Analysis

6.3.4.     Indonesia Automotive Magnesium Alloy Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value  

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Alloy Type Market Share Analysis

6.3.4.2.2.             By Application Type Market Share Analysis

6.3.5.     Thailand Automotive Magnesium Alloy Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value  

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Alloy Type Market Share Analysis

6.3.5.2.2.             By Application Type Market Share Analysis

6.3.6.     South Korea Automotive Magnesium Alloy Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Value  

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Alloy Type Market Share Analysis

6.3.6.2.2.             By Application Type Market Share Analysis

6.3.7.     Australia Automotive Magnesium Alloy Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Value  

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Alloy Type Market Share Analysis

6.3.7.2.2.             By Application Type Market Share Analysis

7.    Europe & CIS Automotive Magnesium Alloy Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value  

7.2.  Market Share & Forecast

7.2.1.     By Alloy Type Market Share Analysis

7.2.2.     By Application Type Market Share Analysis

7.2.3.     By Country Market Share Analysis

7.2.3.1.         Germany Market Share Analysis

7.2.3.2.         Spain Market Share Analysis

7.2.3.3.         France Market Share Analysis

7.2.3.4.         Russia Market Share Analysis

7.2.3.5.         Italy Market Share Analysis

7.2.3.6.         United Kingdom Market Share Analysis

7.2.3.7.         Belgium Market Share Analysis

7.2.3.8.         Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.     Germany Automotive Magnesium Alloy Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value  

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Alloy Type Market Share Analysis

7.3.1.2.2.             By Application Type Market Share Analysis

7.3.2.     Spain Automotive Magnesium Alloy Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value  

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Alloy Type Market Share Analysis

7.3.2.2.2.             By Application Type Market Share Analysis

7.3.3.     France Automotive Magnesium Alloy Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value  

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Alloy Type Market Share Analysis

7.3.3.2.2.             By Application Type Market Share Analysis

7.3.4.     Russia Automotive Magnesium Alloy Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value  

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Alloy Type Market Share Analysis

7.3.4.2.2.             By Application Type Market Share Analysis

7.3.5.     Italy Automotive Magnesium Alloy Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value  

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Alloy Type Market Share Analysis

7.3.5.2.2.             By Application Type Market Share Analysis

7.3.6.     United Kingdom Automotive Magnesium Alloy Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Value  

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Alloy Type Market Share Analysis

7.3.6.2.2.             By Application Type Market Share Analysis

7.3.7.     Belgium Automotive Magnesium Alloy Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Value  

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Alloy Type Market Share Analysis

7.3.7.2.2.             By Application Type Market Share Analysis

8.    North America Automotive Magnesium Alloy Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value  

8.2.  Market Share & Forecast

8.2.1.     By Alloy Type Market Share Analysis

8.2.2.     By Application Type Market Share Analysis

8.2.3.     By Country Market Share Analysis

8.2.3.1.         United States Market Share Analysis

8.2.3.2.         Mexico Market Share Analysis

8.2.3.3.         Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.     United States Automotive Magnesium Alloy Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value  

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Alloy Type Market Share Analysis

8.3.1.2.2.             By Application Type Market Share Analysis

8.3.2.     Mexico Automotive Magnesium Alloy Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value  

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Alloy Type Market Share Analysis

8.3.2.2.2.             By Application Type Market Share Analysis

8.3.3.     Canada Automotive Magnesium Alloy Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value  

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Alloy Type Market Share Analysis

8.3.3.2.2.             By Application Type Market Share Analysis

9.    South America Automotive Magnesium Alloy Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value  

9.2.  Market Share & Forecast

9.2.1.     By Alloy Type Market Share Analysis

9.2.2.     By Application Type Market Share Analysis

9.2.3.     By Country Market Share Analysis

9.2.3.1.         Brazil Market Share Analysis

9.2.3.2.         Argentina Market Share Analysis

9.2.3.3.         Colombia Market Share Analysis

9.2.3.4.         Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.     Brazil Automotive Magnesium Alloy Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value  

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Alloy Type Market Share Analysis

9.3.1.2.2.             By Application Type Market Share Analysis

9.3.2.     Colombia Automotive Magnesium Alloy Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value  

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Alloy Type Market Share Analysis

9.3.2.2.2.             By Application Type Market Share Analysis

9.3.3.     Argentina Automotive Magnesium Alloy Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value  

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Alloy Type Market Share Analysis

9.3.3.2.2.             By Application Type Market Share Analysis

10.  Middle East & Africa Automotive Magnesium Alloy Market Outlook

10.1.             Market Size & Forecast

10.1.1.  By Value   

10.2.             Market Share & Forecast

10.2.1.  By Alloy Type Market Share Analysis

10.2.2.  By Application Type Market Share Analysis

10.2.3.  By Country Market Share Analysis

10.2.3.1.      South Africa Market Share Analysis

10.2.3.2.      Turkey Market Share Analysis

10.2.3.3.      Saudi Arabia Market Share Analysis

10.2.3.4.      UAE Market Share Analysis

10.2.3.5.      Rest of Middle East & Africa Market Share Analysis

10.3.             Middle East & Africa: Country Analysis

10.3.1.  South Africa Automotive Magnesium Alloy Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value  

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Alloy Type Market Share Analysis

10.3.1.2.2.           By Application Type Market Share Analysis

10.3.2.  Turkey Automotive Magnesium Alloy Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value  

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Alloy Type Market Share Analysis

10.3.2.2.2.           By Application Type Market Share Analysis

10.3.3.  Saudi Arabia Automotive Magnesium Alloy Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value  

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Alloy Type Market Share Analysis

10.3.3.2.2.           By Application Type Market Share Analysis

10.3.4.  UAE Automotive Magnesium Alloy Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value  

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Alloy Type Market Share Analysis

10.3.4.2.2.           By Application Type Market Share Analysis

11.  SWOT Analysis

11.1.             Strength

11.2.             Weakness

11.3.             Opportunities

11.4.             Threats

12.  Market Dynamics

12.1.             Market Drivers

12.2.             Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.             Company Profiles (Up to 10 Major Companies)

14.1.1.  Magontec Limited

14.1.1.1.      Company Details

14.1.1.2.      Key Product Offered

14.1.1.3.      Financials (As Per Availability)

14.1.1.4.      Recent Developments

14.1.1.5.      Key Management Personnel

14.1.2.  Meridian Lightweight Technologies Inc.

14.1.2.1.      Company Details

14.1.2.2.      Key Product Offered

14.1.2.3.      Financials (As Per Availability)

14.1.2.4.      Recent Developments

14.1.2.5.      Key Management Personnel

14.1.3.  Nanjing Yunhai Special Metals Co. Ltd.

14.1.3.1.      Company Details

14.1.3.2.      Key Product Offered

14.1.3.3.      Financials (As Per Availability)

14.1.3.4.      Recent Developments

14.1.3.5.      Key Management Personnel

14.1.4.   Smiths Advanced Metals Plc.

14.1.4.1.      Company Details

14.1.4.2.      Key Product Offered

14.1.4.3.      Financials (As Per Availability)

14.1.4.4.      Recent Developments

14.1.4.5.      Key Management Personnel

14.1.5.  STOLFIG Industrial Co. Ltd.

14.1.5.1.      Company Details

14.1.5.2.      Key Product Offered

14.1.5.3.      Financials (As Per Availability)

14.1.5.4.      Recent Developments

14.1.5.5.      Key Management Personnel

14.1.6.  Shanxi Yinguang Huasheng Magnesium Industry Co. Ltd

14.1.6.1.      Company Details

14.1.6.2.      Key Product Offered

14.1.6.3.      Financials (As Per Availability)

14.1.6.4.      Recent Developments

14.1.6.5.      Key Management Personnel

14.1.7.  US Magnesium LLC

14.1.7.1.      Company Details

14.1.7.2.      Key Product Offered

14.1.7.3.      Financials (As Per Availability)

14.1.7.4.      Recent Developments

14.1.7.5.      Key Management Personnel

14.1.8.  Yunnan Aluminium Co. Ltd.

14.1.8.1.      Company Details

14.1.8.2.      Key Product Offered

14.1.8.3.      Financials (As Per Availability)

14.1.8.4.      Recent Developments

14.1.8.5.      Key Management Personnel

14.1.9.  Dead Sea Magnesium Ltd.

14.1.9.1.      Company Details

14.1.9.2.      Key Product Offered

14.1.9.3.      Financials (As Per Availability)

14.1.9.4.      Recent Developments

14.1.9.5.      Key Management Personnel

14.1.10.                DongGuan Eontec Co. Ltd.

14.1.10.1.    Company Details

14.1.10.2.    Key Product Offered

14.1.10.3.    Financials (As Per Availability)

14.1.10.4.    Recent Developments

14.1.10.5.    Key Management Personnel

15.  Strategic Recommendations

15.1.             Key Focus Areas

15.1.1.  Target Regions

15.1.2.  Target Alloy Type

15.1.3.  Target By Application Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

The market size of the Global Automotive Magnesium Alloy Market was estimated to be USD 3.3 billion in 2022.

down-arrow

The market for automotive magnesium alloys has been divided into four application categories: exterior, interior, powertrain, and others. With the biggest revenue share, the powertrain segment is predicted to continue leading the way for the duration of the forecast. Because of their excellent castability, high strength-to-weight ratio, and good damping qualities, magnesium alloys are widely used in the manufacturing of gearbox cases, oil pans, and engine blocks, among other powertrain components. Since magnesium alloys also dramatically reduce weight and improve fuel efficiency, automakers are drawn to them.

down-arrow

With the biggest revenue share, the automotive magnesium alloy market was dominated by the Asia-Pacific region. The demand for automotive magnesium alloys in the region is being driven by the rising production of passenger and commercial cars, especially in developing countries like China and India. Furthermore, it is anticipated that the growing middle class and rising disposable incomes will increase demand for luxury cars, which will in turn drive up demand for lightweight materials like magnesium alloys.

down-arrow

Lightweighting and Fuel Efficiency Demands, Stringent Emission Regulations and Sustainability Goals, and Enhanced Vehicle Performance and Safety are the major drivers for the Global Automotive Magnesium Alloy Market

Related Reports

profile

Srishti Verma

Business Consultant
Press Release

Automotive Magnesium Alloy Market to Grow with a CAGR of 6.01% Globally through to 2028

Jan, 2024

Lightweighting and Fuel Efficiency Demands, Stringent Emission Regulations and Sustainability Goals, and Enhanced Vehicle Performance and Safety are factors driving the Global Automotive Magnesium Al

Why Choose Us