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Global Magnesium Alloys Market

  • 4100.00 Dollar US$
  • Published date: June 22, 2020
    • Omkar Heights, Sinhagad Road,, Pune, Maharashtra, India [ Ads Views - 6 ]

Global Magnesium Alloys Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 13.79% during forecast period. The major driver of the global magnesium alloys market can be attributed to the high demand for magnesium alloys from the automotive & transportation, electronics, aerospace & defense, medical, and power tools industries. The global magnesium alloys market has witnessed significant development over the last few years, because of the increased demand for magnesium alloys for lightweight automotive parts. Global magnesium alloys market uncertainty of magnesium prices and issues related to weld ability and corrosion resistance are. The main opportunity for the market is the growing demand for magnesium alloys from the medical .the growing market for electric vehicles is also a potential opportunity for the magnesium alloys market. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. On the basis of the alloy type segment, Cast alloys is expected to hold the largest market share during the forecast period, because of its large-scale applications in automotive & transportation, electronics, and other industries. Wrought alloys is estimated to be the second-largest alloy type in the global magnesium alloys market. Because of its increasing applications in electronics, and aerospace & defense industries. Based on the end-use industry segment, aerospace & defense is estimated to hold the largest market share during forecast period. Because of the growing demand for global magnesium alloys market from body structure and powertrain applications. The electronics industry is the second-largest consumer of global magnesium alloys market. The penetration of magnesium alloys is increasing rapidly in the electronics industry because of its increasing use in 3Cs.

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