Automotive Magnesium Alloy Market

The global Automotive Magnesium Alloy market was valued at 1274.79 Million USD in 2021 and will grow with a CAGR of 7.47% from 2021 to 2027, based on Research newly published report.
The prime objective of Automotive Magnesium Alloy Market is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, Automotive Magnesium Alloy Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
A combination of light weight, high specific strength, and good castability makes magnesium alloys a promising engineering material for the automotive and aerospace industries. Mg-Al-based alloys, especially the AZ and AM series, combine good room-temperature strength and ductility with satisfying salt-spray corrosion resistance and excellent castability.Vehicle weight reduction is one of the major means available to improve automotive fuel efficiency. High-strength steels, aluminum (Al), and polymers are already being used to reduce weight significantly, but substantial additional reductions could be achieved by greater use of low-density magnesium (Mg) and its alloys. Magnesium alloys are currently used in relatively small quantities for auto parts, generally limited to die castings, e.g., housings. Europe and North America are anticipated to witness significant growth over the forecast period owing to rise in automotive production. Asia Pacific is predicted to observe high growth due to increasing demand for luxury vehicle and increasing annual vehicle production.
By Market Verdors:

• Meridian
• Dynacast
• STOLFIG
• GF
• DongGuan Eontec
• Faw Foundry
• Nanjing Yunhai Special Metals
• Yinguang Magnesium Industry
• Million and Precision Industrial Holdings

By Types:

• AZ ?Mg-Al-Zn?
• AM ?Mg-AlMn?
• AS ?Mg-Al-Si?

By Applications:

• Steering Wheel
• Seat Frames
• Closures
• Powertrain Parts

Key Indicators Analysed

• Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market?s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
• Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
• Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
• Opportunities and Drivers: Identifying the Growing Demands and New Technology
• Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
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• To understand the future outlook and prospects for the market.
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