Latin America Magnesium Alloys Market Size & Outlook
Latin America magnesium alloys market, 2016-2027 (US$M)
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Latin America magnesium alloys market highlights
- The Latin America magnesium alloys market generated a revenue of USD 93.7 million in 2019.
- The market is expected to grow at a CAGR of 3.9% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2020 to 2027.
Latin America data book summary
| Market revenue in 2019 | USD 93.7 million |
| Market revenue in 2027 | USD 127.3 million |
| Growth rate | 3.9% (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 |
| Key market players worldwide | Nanjing Yunhai Special Metals, Ferroglobe PLC |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.0% of the global magnesium alloys market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,292.2 million by 2027.
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Magnesium Alloys Market Scope
Magnesium Alloys Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 58.38% in 2019. Horizon Databook has segmented the Latin America 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 automotive industry in Central & South America is relatively underdeveloped and is expected to witness sluggish growth over the forecast period. However, improving economic conditions and easy access to credit are expected to drive automotive sales in the region.
Thus, the growth of the automotive sector is expected to drive the demand for lightweight automotive components and thereby generate demand for magnesium alloys over the forecast period. Central & South America has emerged as one of the worst-affected regions by the COVID-19 outbreak.
The pandemic has brought multiple economies to the brink of recession and is expected to restrain consumer spending across this region in the near future, affecting product demand over the forecast period.
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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 continent-level data and insights on the Latin America magnesium alloys market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Latin America magnesium alloys market size, by country, 2016-2027 (US$M)
Latin America Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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