Automotive Industry Will Continue to Create Lucrative Growth Opportunities for Magnesium Metal Market

Legislative and environmental influences will continue to increase the adoption of magnesium metal in the forthcoming years. A recent study by Future Market Insights predicts a healthy 7.1% CAGR growth of magnesium metal market during the anticipated period, 2016-2026. In addition, the magnesium metal market is likely to touch an evaluation of nearly US$ 6.2Bn by 2026-end. Developing effective magnesium metal for end-users is possible to be a vital trend, increasingly impacting growth of magnesium metal market. Besides, the report poses constructive insights for the growth of magnesium metal market in the forthcoming years.

Analysts that have been part of this report development made sure that they have delivered valuable information as to how magnesium metal market will expand through 2026. Additionally, our analysts have catered to the growing concerns of industry participants and market observers.

What is trending in the magnesium metal market?

Well, based on the in-depth analysis, new capacity additions and capacity expansions have been significantly trending in the global market.

What do you have to say about the regional landscape in magnesium metal market?

Well, based on analysis, APEJ is likely to dominate the magnesium metal market in the forthcoming years with a healthy CAGR. Also, Western Europe, US and APAC together will generate significant revenue growth in the forthcoming years.

Which application areas are likely to generate maximum revenue growth in magnesium metal market?

Well, based on the in-depth analysis, aluminium alloys and die-casting application areas are expected to have the maximum usage of magnesium metal, which in turn generates higher revenue growth in the global market as well. Apart from this, aerospace applications are also expected to create further growth opportunities in the global market.

According to you, what are the factors contributing towards the growth of magnesium metal market?

Based on analysis, increasing need for magnesium in the automotive sector is expected to drive the growth of magnesium metal market. Apart from this, increase in the magnesium production facilities are also likely to contribute significantly towards the growth of magnesium metal market in the forthcoming years.

According to you, what are the factors hampering the growth of magnesium metal market?

Several regions witnessing slower economic growth can pose significant challenges for the growth of magnesium metal market in the forthcoming years. OEMs are likely to face security related issues with regards to supply chain.

Can you mention some of the key players in magnesium metal market?

Certainly yes. Some of the key players in the magnesium metal market profiled by the analysts are inclusive of Taiyuan Tongxiang Magnesium Co., Ltd, Solikamsk Magnesium Works OAO, US Magnesium LLC., and Shanxi Wenxi Zhenxin Magnesium Co., Ltd, RIMA Group., Wenxi YinGuang Magnesium Industry (Group) Co., Ltd and Dead Sea Magnesium Ltd.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1550

By Nikhil Kaitwade

With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.

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