APEJ will continue to be the largest market for magnesium metal with total volumes reaching 518 KT. By 2026, magnesium metal market revenues will surpass US$ 6 Bn.
Global demand for magnesium metal will reach 1,085 KT in 2016, representing market value worth US$ 3.13 Bn. Steady automotive sales in the US and Western Europe, combined with a rapidly growing Asia Pacific automotive market will continue to drive demand for magnesium, as manufacturers increase their emphasis on fuel efficiency and emission control. Magnesium“s applications in making automotive wheels, transmission cases, and engine blocks will continue to fuel demand in 2016 and beyond.
Environmental and legislative influences will continue to promote the use of magnesium vis-à-vis steel and aluminium. As lightweight and fuel-efficient vehicles gain centre stage in the automotive landscape, magnesium is gaining traction as a preferred manufacturing material.
Request Report Sample with Table of Contents: http://www.futuremarketinsights.com/reports/sample/rep-gb-1550
Application-wise, magnesium alloys and die-casting will continue to remain the largest segments, accounting for 349 KT and 302 KT respectively in 2016. Demand will also be supported by magnesium“s growing applications in iron and steel desulphurisation. Magnesium will continue to witness stable demand from the aerospace sector, owing to its excellent properties as a reductant in manufacturing titanium.
While magnesium“s excellent properties will continue to boost its adoption in end-use industries, slower economic growth and stringent import regulations can impede demand in 2016. Leading players in the magnesium metal landscape are expected to focus on capacity expansions and capacity additions to address these challenges.
Browse Full Report: http://www.futuremarketinsights.com/reports/magnesium-metal-market
Asia Pacific excluding Japan (APEJ) will remain the largest market for magnesium metals, accounting for 518 KT of magnesium in 2016, up from 482 KT in 2015. The region accounts for a major share in overall global automotive and steel production, and magnesium is widely used in these industries. China will continue to be the most lucrative market for magnesium — of the overall global magnesium production capacity, around 85% is concentrated in China, while the remainder is distributed in pockets across the globe. Key China based players include Taiyuan Tongxiang Magnesium Co., Ltd, Shanxi Wenxi Hongfu Magnesium Co., Ltd.,Wenxi YinGuang Magnesium Industry (Group) Co., Ltd., and Shanxi Wenxi Zhenxin Magnesium Co., Ltd. among others. Some of the key players based outside of China include US Magnesium LLC.; Dead Sea Magnesium Ltd.; POSCO; RIMA Group; Solikamsk Magnesium Works OAO. Players based outside China are channelising efforts towards ramping up production capacities to better cater to growing magnesium demand across the globe. Over the next two to three years several new magnesium production facilities are slated to become operational across the globe.
Send An Enquiry: http://www.futuremarketinsights.com/askus/rep-gb-1550
Long-term Outlook: The global magnesium metal market is anticipated to increase at a CAGR of 7.1% during 2016-2026, reaching 6.2 Bn in revenues by 2026. APEJ will remain the largest market throughout the forecast period, increasing at a CAGR of 7.3% through 2026.
Acetone Market: http://www.futuremarketinsights.com/reports/acetone-market
Technical Textiles Market: http://www.futuremarketinsights.com/reports/technical-textiles-market
Bromine Derivatives Market: http://www.futuremarketinsights.com/reports/bromine-derivatives-market
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI“s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
Future Market Insights
616 Corporate Way, Suite 2-9018, Valley Cottage NY
10989 New York