Worldwide Consumption of Magnesium Metal to Reach 442 Thousand Metric Tons by 2010, According to a New Report by Global Industry Analysts, Inc.

Share Article

Global market for magnesium has been experiencing modest growth for the past several years driven by strong demand in the end-use industries. Market growth is largely driven by rapidly growing European and Asian markets for magnesium. In the European automobile industry, the usage of magnesium in light vehicles is projected to increase from nearly 7 pounds per vehicle in 2004 to over 11 pounds per vehicle by 2008.

Magnesium, Magnesite and Dolomite: A Global Strategic Business Report

World market for Magnesium Metal is forecast to maintain a CAGR of over 4.79% over the years 2001-2010 and reach in excess of 442 thousand metric tons by the end of the decade. The growth is likely to be fueled by die-casting applications in the automotive sector. Castings is the largest end-use category with estimated share of 50.85% in 2007, followed by Aluminum Alloys.

Increasing usage of magnesium in the automotive industry, as a low-cost and low-weight alternative, is the driving factor for the growth of Class 1 recycled magnesium. Magnesium offers several attractive features to automakers, in terms of reduced weight, strength, durability, thermal stability, and environment friendliness. The material has 35% lower weight than aluminum, making it well suited for use in multi-utility vehicles, cars, and small trucks. Additionally, magnesium enables easy parts consolidation using die-casting, offering an effective substitute to steel.

The use of magnesium casing for handsets is likely to witness rapid growth in next few years due to increasing demand for lightweight, strong, and compact mobile phones worldwide. Magnesium being light in weight, durable, and thermally stable, offers handset makers an ideal material for imparting high strength and aesthetic appeal in their products. Magnesium casing also offers intrinsic EMI/RFI shielding, eliminating additional costs of shielding handsets separately.

Magnesium casing is all set to increase its reach in the notebook (NB) PC market at the cost of plastic, driven by a host of innovative features, including light-weight, compactness, durability, greater tensile strength, and higher elasticity. The environment friendliness of magnesium enables it to comply with various recycling standards implemented by Japan and the EU, making the material most sought after commodity in the notebook PC market world over.

World magnesium production is estimated at about 600,000 tons per annum, while demand estimates stand at 400,000 tons per annum. As a result, several companies are either shutting their production facilities or quitting the business in response to growing competition and rising low cost imports from Asia, particularly China. Norsk Hydro, for instance, closed its Becancour, Quebec magnesium plant with a production capacity of over 48,000 metric tons in the year 2006. However, despite several plant closures, the supply of primary magnesium continues to rise in the global markets owing to significant global production capacity for magnesium.

Major companies covered include Advanced Magnesium Limited, Avisma, Israel Chemicals Ltd, Lunt Manufacturing Co., Luxfer Group, Magnesium Elektron North America Inc., Magnesium International Ltd., Meridian Technologies Inc., Nippon Kinzoku Co., Ltd, Norsk Hydro A/S, Hydro Magnesium SA, and Solikamsk Magnesium Works.

"Magnesium, Magnesite and Dolomite: A Global Strategic Business Report", published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product profile, recent developments, mergers, acquisitions, profiles of major players and other strategic industry activities. Analysis is presented for major geographic markets such as US, Canada, Japan, France, Germany, Italy, the UK, Spain, Russia, Asia-Pacific, Middle East, and Latin America. Analytics for the period 1991 through 2015 are provided in terms of End-Use segments including Aluminum Alloys, Castings (Die Castings, Permanent Mold Castings, and Sand Castings), Iron & Steel Desulfurization, Wrought Products (Extrusions and Others), Reducing Agents, Cathodic Protection, Chemicals, and Others.

For more details about this research report, please visit http://www.strategyr.com/Magnesium_Magnesite_and_Dolomite_Market_Report.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site http://www.StrategyR.com

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website