South Africa Magnesium Alloys Market Size & Outlook
South Africa magnesium alloys market, 2016-2027 (US$M)
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South Africa magnesium alloys market highlights
- The South Africa magnesium alloys market generated a revenue of USD 31.6 million in 2019 and is expected to reach USD 42.1 million by 2027.
- The South Africa market is expected to grow at a CAGR of 3.6% 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 31.6 million |
| Market revenue in 2027 | USD 42.1 million |
| Growth rate | 3.6% (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, South Africa accounted for 1.0% 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 Middle East & Africa, South Africa magnesium alloys market is projected to lead the regional market in terms of revenue in 2027.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 42.1 million by 2027.
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Magnesium Alloys Market Scope
Magnesium Alloys Market Companies
| Name | Profile | # Employees | HQ | Website |
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South 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 58.23% in 2019. Horizon Databook has segmented the South 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.
South Africa is the largest manufacturer of automobiles in the African continent. According to the 2019 International Organization of Motor Vehicle Manufacturers statistics, South Africa produced around 630,000 vehicles in 2019.
Moreover, the country is actively supporting the automotive industry in order to boost employment generation and propel the country into becoming major automotive exporters for the African countries. Thus, the growth in the automotive industry in South Africa is expected to drive the demand for magnesium alloys 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 country-level data and insights on the South Africa magnesium alloys market, including forecasts for subscribers. This country databook contains high-level insights into South Africa magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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South Africa magnesium alloys market size, by application, 2016-2027 (US$M)
South Africa Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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