Global Magnesium Alloys Market Size & Outlook, 2019-2027
Global magnesium alloys market, 2016-2027 (US$M)
Related Markets
Global magnesium alloys market highlights
- The global magnesium alloys market generated a revenue of USD 3,120.9 million in 2019 and is expected to reach USD 4,414.8 million by 2027.
- The market is expected to grow at a CAGR (2020 - 2027) of 4.4% by 2027.
- In terms of segment, automotive & transportation accounted for a revenue of USD 1,814.9 million in 2019.
- Automotive & Transportation is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2019.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2020 to 2027.
Global data book summary
| Market revenue in 2019 | USD 3,120.9 million |
| Market revenue in 2027 | USD 4,414.8 million |
| Growth rate | 4.4% (CAGR from 2019 to 2027) |
| Largest segment | Automotive & transportation |
| Fastest growing segment | Automotive & Transportation |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Automotive & Transportation, Aerospace & Defense, Electronics, Other Applications |
Other key industry trends
- In terms of revenue, the North America accounted for 21.9% of the global magnesium alloys market in 2019.
- By country, the China is projected to lead the global market in terms of revenue in 2027.
- By country, Saudi Arabia is the fastest growing regional market and is projected to reach USD 21.2 million by 2027.
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Magnesium Alloys Market Scope
Magnesium Alloys Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global magnesium alloys market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to magnesium alloys market will help companies and investors design strategic landscapes.
Automotive & transportation was the largest segment with a revenue share of 58.15% in 2019. Horizon Databook has segmented the Global magnesium alloys market based on automotive & transportation, aerospace & defense, electronics, other applications covering the revenue growth of each sub-segment from 2016 to 2027.
- Global Magnesium Alloys Application Outlook (Revenue, USD Million, 2016-2027)
- Automotive & Transportation
- Aerospace & Defense
- Electronics
- Other Applications
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Horizon Databook provides a detailed overview of global-level data and insights on the Global magnesium alloys market, including forecasts for subscribers. This global databook contains high-level insights into Global magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Global magnesium alloys market size, by regions, 2016-2027 (US$M)
Top 10 countries: Magnesium alloys market size, 2019 (US$M)
Global magnesium alloys market share, by application, 2019 & 2027 (%, US$M)
Magnesium alloys market: Opportunity assessment by country
Global magnesium alloys market, by region, 2019 (US$M)
| Application | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 535.9 | 516.1 | 636.6 | 682.9 | 591.1 | 650.6 | 682.7 | 720.2 | 768.9 | 824.1 | 886.5 | 957.3 | 4.3% |
| Europe | 493.3 | 556.9 | 651.1 | 664.2 | 574.4 | 632.2 | 662.7 | 698.4 | 744.8 | 797.3 | 856.8 | 924.3 | 4.2% |
| Asia Pacific | 1,140.6 | 1,257.0 | 1,516.3 | 1,591.2 | 1,381.9 | 1,527.6 | 1,608.3 | 1,702.2 | 1,823.2 | 1,960.3 | 2,115.8 | 2,292.2 | 4.7% |
| Latin America | 70.2 | 79.0 | 92.1 | 93.7 | 80.8 | 88.6 | 92.6 | 97.3 | 103.5 | 110.5 | 118.3 | 127.3 | 3.9% |
| MEA | 66.5 | 72.3 | 85.9 | 88.9 | 76.1 | 82.9 | 86.0 | 89.7 | 94.7 | 100.3 | 106.6 | 113.7 | 3.1% |
| Overall | 2,306.4 | 2,481.2 | 2,981.9 | 3,120.9 | 2,704.3 | 2,982.1 | 3,132.4 | 3,307.8 | 3,535.1 | 3,792.5 | 4,084.1 | 4,414.8 | 4.4% |
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