Mexico Magnesium Alloys Market Size & Outlook, 2019-2027
Mexico magnesium alloys market, 2016-2027 (US$M)
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Mexico magnesium alloys market highlights
- The Mexico magnesium alloys market generated a revenue of USD 48.3 million in 2019 and is expected to reach USD 63.5 million by 2027.
- The Mexico market is expected to grow at a CAGR of 3.5% 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 48.3 million |
| Market revenue in 2027 | USD 63.5 million |
| Growth rate | 3.5% (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, Mexico accounted for 1.5% 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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Mexico 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 59.63% in 2019. Horizon Databook has segmented the Mexico magnesium alloys market based on automotive & transportation, aerospace & defense, electronics, other applications covering the revenue growth of each sub-segment from 2016 to 2027.
Mexico is predicted to be hit the hardest by the COVID-19 pandemic as manufacturing output in the country remains low. Aerospace production in Mexico is expected to witness a sharp decline with sharp downfall in exports.
The aerospace exports in Mexico are declined by nearly 30% in 2020. This is due to a decline in Mexico’s domestic demand as well as sluggish demand from Mexico’s major export markets like the U.S. owing to a fall in global commercial jet aircraft deliveries.
As per the Mexican Federation of Aerospace Industries, Mexican exports of aerospace parts and components have declined to USD 6.6 billion in 2020 from USD 9.6 billion in 2019.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico magnesium alloys market, including forecasts for subscribers. This country databook contains high-level insights into Mexico magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Mexico magnesium alloys market size, by application, 2016-2027 (US$M)
Mexico Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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