A recent market intelligence report that is published by Data Insights Partner on the global Magnesium Metal Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Magnesium Metal Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Magnesium Metal Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Magnesium Metal Market is offered. In accordance with the report, the global Magnesium Metal Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
Primary magnesium is a silvery-white metal obtained either from mineral sources (dolomite, magnesite, etc.) or from sea-water/ brines through one of two prominent processes, namely thermal process or through electrolytic process. Magnesium is the eighth most abundant element in the world. It is one of the lightest materials available for use in structural applications.
It is primarily used in the manufacture of die-cast components for automotive, aerospace, electronics applications. It also finds wide-scale application in production of aluminum alloys.
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Ø Growing automotive sales and corresponding increase in automotive/vehicle park is expected to result in significant increase in environmental greenhouse gas emissions. According to EPA, transportation sector accounted for around 28% of overall greenhouse gas emissions in 2015 in U.S.
Ø Thus, in order to tackle the menace of increasing environmental pollution emanating from transportation sector, development of greener technologies and vehicles that are all the more fuel efficient has emerged as a top priority for automotive industry think tanks and related R&D activities
Ø Magnesium is one of the most versatile metals on earth. It is around 75% lighter than steel and 33% lighter than aluminium. Moreover, use of magnesium for automotive components results in parts that not only are lighter in weight but also are relatively more dimensionally stable. Besides, several intricate and thin walled components can be manufactured with relatively more ease vis-à-vis some of the conventional materials
Ø According to CAFÉ (Corporate Average Fuel Economy) standards that were first introduced in the U.S. in 1978 with an intent of improving fuel economy of vehicles, thereby reducing environmental impact.
Ø In May 2012, standards for fuel economy up to 2025 were established. Accordingly, for 2021, the standards will necessitate an average fuel economy of 40.3 – 41.0 mpg (miles per gallon) whereas the average fuel economy proposed for 2025 is around 54.5 mpg
Ø Similarly, the European Union has laid down stringent targets pertaining to fuel consumption and emissions per kilometre
Ø The EU legislation stated target of 130 grams of CO2 per kilometre by 2015 for new cars registered. This translates into consumption of around 5.6 litres of fuel (petrol) per 100 km. The target for 2021 is 95 grams of CO2 per kilometre, translating into around 4.1 litres of petrol consumption per 100 km
Roofing in Porsche AG’s new 911 GT3 RS is composed of magnesium sheeting sourced from POSCO, rendering it effective yet relatively lower in weight as compared to aluminum and CFRP. The car was launched in 2016.
Front module in 2016 Mercedes-AMG GT S is composed of magnesium resulting in a optimal weight saving and agility
Fiat Chrysler Automobiles NV – Italian-American automotive giant has developed magnesium based components (including liftgate) in order to effect weight savings in its new minivan 2017 Chrysler Pacifica
This market intelligence report on the global Magnesium Metal Market encompasses market segments based on application and country.
By Application the global Magnesium Metal Market has been divided into:
- Aluminium Alloys
- Metal Reduction
By country/region, the global Magnesium Metal Market has been divided into:
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
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Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
- US Magnesium LLC.
- Dead Sea Magnesium Ltd.
- RIMA Group.
- Solikamsk Magnesium Works OAO
- Wenxi YinGuang Magnesium Industry (Group) Co., Ltd
- Shanxi Wenxi Hongfu Magnesium Co., Ltd.
- Taiyuan Tongxiang Magnesium Co., Ltd
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Magnesium Metal Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Ø This study offers comprehensive yet detailed analysis of the Magnesium Metal Market, size of the market (US$ Mn ), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Magnesium Metal Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Magnesium Metal caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Magnesium Metal Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Magnesium Metal Market
v Identification of key factors driving investment opportunities in the Magnesium Metal Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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