China Magnesium Alloys Market Size & Outlook, 2019-2027
China magnesium alloys market, 2016-2027 (US$M)
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China magnesium alloys market highlights
- The China magnesium alloys market generated a revenue of USD 1,085.5 million in 2019 and is expected to reach USD 1,596.9 million by 2027.
- The China market is expected to grow at a CAGR of 4.9% 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 1,085.5 million |
| Market revenue in 2027 | USD 1,596.9 million |
| Growth rate | 4.9% (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, China accounted for 34.8% 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 Asia Pacific, China magnesium alloys market is projected to lead the regional market in terms of revenue in 2027.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 218.6 million by 2027.
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Magnesium Alloys Market Scope
Magnesium Alloys Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 57.2% in 2019. Horizon Databook has segmented the China magnesium alloys market based on automotive & transportation, aerospace & defense, electronics, other applications covering the revenue growth of each sub-segment from 2016 to 2027.
China is the fastest-growing aviation market in the world. It is likely to attract over 8,000 new aircraft deliveries over the next 20 years. The robust demand is projected to offer USD 1.6 trillion opportunities to aftermarket services from 2021 to 2027.
China also ranks at the second position globally in terms of defense spending. It accounted for 14% of share in global defense spending in 2019. Thus, in the long run, China is likely to attract significant demand for magnesium alloys.
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Target buyers of China magnesium alloys market databook
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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 China magnesium alloys market, including forecasts for subscribers. This country databook contains high-level insights into China magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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China magnesium alloys market size, by application, 2016-2027 (US$M)
China Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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