U.S. Magnesium Alloys Market Size & Outlook, 2019-2027
U.S. magnesium alloys market, 2016-2027 (US$M)
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U.S. magnesium alloys market highlights
- The U.S. magnesium alloys market generated a revenue of USD 563.3 million in 2019 and is expected to reach USD 795.3 million by 2027.
- The U.S. market is expected to grow at a CAGR of 4.4% 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 563.3 million |
| Market revenue in 2027 | USD 795.3 million |
| Growth rate | 4.4% (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, U.S. accounted for 18.0% 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 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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U.S. 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 57.7% in 2019. Horizon Databook has segmented the U.S. magnesium alloys market based on automotive & transportation, aerospace & defense, electronics, other applications covering the revenue growth of each sub-segment from 2016 to 2027.
Lower costs and lightweight nature of magnesium products contribute to their rising demand in various industrial applications, mainly in the automotive and aerospace & defense sectors. Agencies such as the EPA, California Air Resource Board (CARB), and National Highway Traffic Safety Administration (NHTSA) have enacted rules and regulations pertaining to greenhouse gas emissions (GHG).
These guidelines restrict the use of vehicles with high rate of carbon emissions such as heavyweight vehicles and support the adoption of less carbon-emitting vehicle such as lightweight vehicles.
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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 U.S. magnesium alloys market, including forecasts for subscribers. This country databook contains high-level insights into U.S. magnesium alloys market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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U.S. magnesium alloys market size, by application, 2016-2027 (US$M)
U.S. Magnesium Alloys Market Share, 2019 & 2027 (US$M)
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