Canada Magnesium Alloys Market Size & Outlook, 2019-2027
Canada magnesium alloys market, 2016-2027 (US$M)
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Canada magnesium alloys market highlights
- The Canada magnesium alloys market generated a revenue of USD 71.2 million in 2019 and is expected to reach USD 98.5 million by 2027.
- The Canada market is expected to grow at a CAGR of 4.1% from 2020 to 2027.
- In terms of segment, automotive & transportation was the largest revenue generating application in 2019.
- Automotive & Transportation is the most lucrative application segment registering the fastest growth during the forecast period.
Magnesium alloys market data book summary
| Market revenue in 2019 | USD 71.2 million |
| Market revenue in 2027 | USD 98.5 million |
| Growth rate | 4.1% (CAGR from 2019 to 2027) |
| Largest segment | Automotive & transportation |
| Fastest growing segment | Automotive & Transportation |
| Historical data | 2016 - 2018 |
| Base year | 2019 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Automotive & Transportation, Aerospace & Defense, Electronics, Other Applications |
| Key market players worldwide | Nanjing Yunhai Special Metals, Ferroglobe PLC |
Other key industry trends
- In terms of revenue, Canada accounted for 2.3% of the global magnesium alloys market in 2019.
- Country-wise, China is expected to lead the global market in terms of revenue in 2027.
- In North America, U.S. magnesium alloys market is projected to lead the regional market in terms of revenue in 2027.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 795.3 million by 2027.
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Magnesium Alloys Market Scope
Magnesium Alloys Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 62.22% in 2019. Horizon Databook has segmented the Canada magnesium alloys market based on automotive & transportation, aerospace & defense, electronics, other applications covering the revenue growth of each sub-segment from 2016 to 2027.
The magnesium alloys market in Canada is projected to witness significant growth on account of the rising automotive and aerospace industries. Canada is one of the top 10 producers of light vehicles in the world as of 2019.
The automotive industry in Canada is characterized by the significant presence of key automotive OEMs. According to the Canadian government, the top five automotive manufacturers collectively assembled more than 2 million vehicles in 2019.
Canada is a home for many aerospace vendors or component manufacturers. The expansion in air freight and passenger volume in commercial aviation across the globe, especially in emerging countries like India and China, is predicted to be a key market driver.
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Our clientele includes a mix of magnesium alloys market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada magnesium alloys market, including forecasts for subscribers. This country databook contains high-level insights into Canada magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Canada magnesium alloys market size, by application, 2016-2027 (US$M)
Canada Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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