North America Magnesium Alloys Market Size & Outlook
North America magnesium alloys market, 2016-2027 (US$M)
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North America magnesium alloys market highlights
- The North America magnesium alloys market generated a revenue of USD 682.9 million in 2019.
- The market is expected to grow at a CAGR of 4.3% 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, U.S. is expected to register the highest CAGR from 2020 to 2027.
North America data book summary
| Market revenue in 2019 | USD 682.9 million |
| Market revenue in 2027 | USD 957.3 million |
| Growth rate | 4.3% (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, North America region accounted for 21.9% 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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North 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 58.31% in 2019. Horizon Databook has segmented the North 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 North American magnesium alloys market is anticipated to witness low growth over the forecast period. This can be majorly attributed to the negative impact of COVID-19 on the region’s economies. The production and sales of end-use industries in the region were severely impacted as the COVID19 continues to spread in the region.
Magnesium alloys are one of the widely used materials in the manufacturing process of aircraft, automotive, military equipment, transportation trucks, agricultural machinery, spaceships, biomedical devices, and electronics.
The market in North America is expected to offer potential market prospects owing to the extensive presence of established multinational companies involved in automobile, aircraft, and electronic manufacturing.
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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 North America magnesium alloys market, including forecasts for subscribers. This continent databook contains high-level insights into North America magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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North America magnesium alloys market size, by country, 2016-2027 (US$M)
North America Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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