Market World Metal Magnesium Market Applications | Page 2

Magnesium is also used as a reducing agent in manufacture of metals such as uranium, titanium,
hafnium and zirconium etc. Magnesium metal when compared with other alloys being light in
nature and of significant density also helps in materializing the objective of light-automotive vehicle
production. Thus, the market growth is expected to grow during the forecast period.
Metal magnesium industry is driven by factors such as growing demand from automotive sector and
rise in use of magnesium in aluminum alloys and die-casting is expected to drive the metal
magnesium market in the assessment period. Additionally, the wide applications of magnesium
alloys in several sectors such as aerospace, automotive, packaging, printing and electronics is
expected propels the market growth of metal magnesium industry. Moreover, rising demand for
titanium particularly from aerospace applications is anticipated to boost the market growth.
However, factors such as low economic growth rate in some countries in the earlier stages are likely
to impede the market growth in the forecast period. Metal magnesium industry is segmented into
aluminum alloys, desulphurization, metal reduction and die-casting, based on application. Die-
casting and aluminum alloys segment is expected to rise at a higher CAGR during the forecast
period.
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Based on geographic segmentation, the metal magnesium industry spans North America, Latin
America, Europe Asia-Pacific, Middle-East and Africa. MEA regions are expected to rise at a higher
CAGR in the forecast period owing to availability of abundant resources. APAC regions are also
expected to rise at a higher CAGR in the forecast period owing to growth in industrialization and
abundant reserves of natural minerals. Europe and North American market is expected to grow at
higher moderate CAGR owing to development of eco-friendly technologies for automobile
production.
The key players in the metal magnesium industry include Taiyuan Tongxiang Magnesium Co., Ltd, US
Magnesium LLC, Wenxi YinGuang Magnesium Industry (Group) Co., Ltd, Dead Sea Magnesium Ltd,