Middle East & Africa Magnesium Alloys Market Size & Outlook
Middle East & Africa magnesium alloys market, 2016-2027 (US$M)
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MEA magnesium alloys market highlights
- The MEA magnesium alloys market generated a revenue of USD 88.9 million in 2019.
- The market is expected to grow at a CAGR of 3.1% 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.
- Country-wise, South Africa is expected to register the highest CAGR from 2020 to 2027.
MEA data book summary
| Market revenue in 2019 | USD 88.9 million |
| Market revenue in 2027 | USD 113.7 million |
| Growth rate | 3.1% (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, MEA region accounted for 2.8% 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.
Key Regions: U.S. , Japan , Brazil , South Africa , Saudi Arabia
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Magnesium Alloys Market Scope
Magnesium Alloys Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 59.17% in 2019. Horizon Databook has segmented the Middle East & Africa 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 growing defense & aerospace industry in the Middle East region is projected to boost the demand for lightweight magnesium alloys over the forecast period. According to the Centre for Aviation (CAPA), the Middle East is witnessing the highest growth rate in the commercial aerospace industry globally.
Furthermore, in the UAE, an order worth USD 7.5 billion from Boeing and Airbus for aerospace parts manufacturing is expected to provide a major boost to the aerospace industry in the region, thereby generating demand for magnesium alloys over the forecast period.
The GCC countries are actively focusing on reducing their economic dependence on oil & natural gas revenues. These countries are progressively incentivizing industrial production and manufacturing activities in the region.
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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 Middle East & Africa magnesium alloys market, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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MEA magnesium alloys market size, by country, 2016-2027 (US$M)
Middle East & Africa Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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