Magnesium is a lightweight, silvery-white metal known for its high strength-to-weight ratio, making it a vital component in various industrial applications. Derived from mineral ores or obtained through processes like electrolysis, magnesium finds extensive use in industries such as automotive, aerospace, manufacturing, and healthcare. Its versatility is evident in applications ranging from alloy production (magnesium alloys) for lightweighting in transportation to its role in the pharmaceutical and healthcare sectors. The magnesium market involves the extraction, production, and distribution of magnesium and its alloys, addressing diverse industrial needs while navigating factors such as market demand, pricing dynamics, technological advancements, and regulatory considerations. As industries increasingly prioritize sustainability and lightweight materials, the magnesium market plays a crucial role in shaping the landscape of modern manufacturing and technology.

Global Magnesium Market was valued at US $ 7.10 billion in 2023 and is expected to reach US $ 11.7 billion by 2032 growing at a CAGR of 5.7% during the forecast period 2024 – 2032.

COVID -19 Impact

The COVID-19 pandemic has likely exerted notable effects on the magnesium market, aligning with broader trends seen in industrial sectors. Supply chain disruptions, stemming from movement restrictions and workforce shortages, may have impacted the production and distribution of magnesium and its derivatives. Fluctuations in demand, particularly in key sectors such as automotive, aerospace, and manufacturing, could have influenced the consumption patterns of magnesium. The automotive industry, a significant consumer for magnesium in lightweighting applications, faced challenges with production halts and supply chain interruptions. Moreover, the economic slowdown prompted a cautious approach in adopting magnesium for certain applications, as reduced economic activity affected investment plans. Logistical challenges, including disruptions in transportation and delivery, may have added complexities to the magnesium supply chain. The commodities market, including magnesium, likely experienced price volatility due to the economic uncertainties triggered by the pandemic. While these observations offer insights into potential impacts, it is crucial to refer to the latest industry reports and analyses for a comprehensive understanding of the current status and trajectory of the magnesium market in the context of the ongoing global health crisis.

Factors Driving the Market

Drivers

Lightweighting in automotive and transportation

The market growth of magnesium is intricately tied to the imperative for lightweighting in the automotive and transportation industries. Automotive manufacturers, driven by the need to enhance fuel efficiency and reduce emissions, are increasingly turning to magnesium as a key solution. Magnesium's status as one of the lightest structural metals makes it a pivotal element in the quest for weight reduction in vehicles. This not only contributes to improved fuel efficiency but also aligns with global efforts to address environmental concerns. In the context of electric vehicles (EVs), where weight is a critical factor influencing battery efficiency and driving range, magnesium's lightweight properties are particularly advantageous. The use of magnesium alloys in battery casings for EVs highlights its role in optimizing the performance of electric mobility solutions. Moreover, magnesium's exceptional strength-to-weight ratios and design flexibility offer automotive designers the freedom to create innovative and aerodynamic vehicle structures without compromising on integrity. As regulatory standards for vehicle emissions and fuel efficiency become more stringent, magnesium's contribution to lightweighting becomes increasingly vital for automotive manufacturers to meet compliance requirements. Despite its comparatively higher cost, the cost-efficiency of magnesium in lightweighting applications, coupled with its positive impact on performance and sustainability, positions it as a favored material in the evolving landscape of automotive design and manufacturing. The trajectory of magnesium's market growth is thus intricately linked to its ability to address the industry's pressing need for lightweight materials, reflecting a broader commitment to environmental responsibility and advancements in transportation technologies.

Challenges

Volatile magnesium prices

The magnesium market faces significant challenges when exposed to volatile magnesium prices, impacting market growth negatively on multiple fronts. Uncertain production costs create challenges for industries relying on magnesium as a raw material, making it difficult for manufacturers to accurately plan budgets and manage financial resources. The volatility introduces disruptions in the magnesium supply chain, affecting pricing agreements and potentially leading to delays or interruptions in supply. Industries contemplating investments in magnesium-related projects may hesitate due to price uncertainty, impacting strategic decision-making and hindering overall market development. Continuous price fluctuations erode consumer and investor confidence, particularly in industries like automotive and aerospace, where stable pricing is crucial for maintaining buyer trust and demand. Profit margins for magnesium producers and downstream industries can be squeezed, affecting competitiveness, while small enterprises may face heightened vulnerability due to limited resources to absorb price shocks. Effective hedging strategies may become more challenging, exposing businesses to greater financial risks. Moreover, global economic factors, including currency fluctuations and geopolitical events, contribute to the complexity of magnesium price dynamics. To navigate these challenges, industry participants may need to explore collaborative risk-sharing mechanisms, long-term supply agreements, and initiatives that enhance pricing transparency. Additionally, regulatory measures aimed at stabilizing magnesium prices could contribute to creating a more predictable and sustainable market environment.

Trends

Focus on recycling and sustainability.

The magnesium market is experiencing enhanced growth due to a pronounced focus on recycling and sustainability practices. As global industries intensify efforts to comply with stringent environmental regulations and sustainability standards, magnesium's inherent recyclability emerges as a key attribute contributing to its increased demand. The adoption of circular economy practices, where materials are efficiently recycled and repurposed, aligns with magnesium's eco-friendly characteristics. Recycling magnesium not only reduces the carbon footprint associated with its production but also supports the development of closed-loop processes, minimizing waste and promoting resource efficiency. In sectors such as automotive, end-of-life vehicle recycling plays a significant role, recovering magnesium components from scrapped vehicles and reinforcing sustainable manufacturing practices. Additionally, the heightened awareness among consumers regarding the environmental impact of products has prompted industries to incorporate sustainable materials, further driving the demand for recycled magnesium. Technological advancements in recycling methods, coupled with corporate sustainability initiatives and a growing preference for environmentally responsible practices, collectively position recycled magnesium as a crucial component in the trajectory of the magnesium market. This trend not only fosters market growth but also underscores magnesium's role in shaping a more sustainable and conscientious industrial landscape.

Market Segmentation

By Product Type

By Product Type, the global Magnesium Market is divided into Cast Alloys, Wrought Alloys.

Cast Alloys currently hold the crown, accounting for approximately 62.13% of the magnesium market share. Wrought Alloys are experiencing the fastest growth, boasting a projected CAGR of 4.9% between 2024 and 2032.

cast alloys currently maintain their lead, primarily driven by their cost-effectiveness and versatility in various applications. The casting process, known for its efficiency in large-scale production and rapid prototyping capabilities, makes cast alloys particularly favored, especially in industries with high-volume manufacturing needs. The simplicity and economic advantages of the casting process contribute to the widespread use of cast magnesium alloys across sectors, including automotive, aerospace, and industrial manufacturing.

Simultaneously, wrought alloys are experiencing rapid growth, fueled by their superior mechanical properties, such as higher strength and ductility. Wrought magnesium alloys, renowned for improved formability and malleability, cater to industries where intricate shapes and designs are essential. The aerospace sector, in particular, with its stringent requirements for materials with exceptional strength-to-weight ratios, has been a driving force behind the increased demand for wrought alloys. Advancements in processing technologies, such as extrusion and forging, further enhance the mechanical properties of wrought alloys, expanding their applicability in critical industries. As industries increasingly prioritize lightweight materials with superior mechanical characteristics, wrought magnesium alloys are positioned as the fastest-growing segment, meeting the specific needs of applications that demand both strength and precision. The dynamic interplay between the established dominance of cast alloys and the surging popularity of wrought alloys underscores the evolving landscape of the magnesium market, shaped by the diverse requirements of industries across the manufacturing spectrum.

By End-user Industries

By End-user Industries, the global Magnesium Market is divided into Automotive & Transportation, Electronics, Aerospace & Defense, Other Industries.

Automotive & Transportation currently reigns supreme, commanding the largest share of the magnesium market at roughly 37.8%. Electronics is experiencing the most rapid growth, with a projected CAGR of over 5.6% between 2024 and 2032.

The automotive and transportation sector takes the lead owing to magnesium's pivotal role in lightweighting strategies. As industries within this sector, especially automotive manufacturing, seek improved fuel efficiency and reduced emissions, the adoption of magnesium alloys in critical components has become commonplace. The favorable strength-to-weight ratios of magnesium contribute to enhanced vehicle performance, and collaborative efforts between magnesium producers and automotive manufacturers have resulted in specialized alloys tailored for automotive applications. Stringent regulatory standards globally further bolster the demand for magnesium in this sector.

Simultaneously, the electronics industry emerges as the fastest-growing segment in the magnesium market. Driven by the imperative for miniaturization and weight reduction in electronic devices, magnesium's lightweight and durable properties make it a preferred material for manufacturing electronic components. The surge in consumer electronics, including smartphones, laptops, and tablets, underscores the increased use of magnesium alloys for sleek and lightweight casings. Magnesium's excellent thermal conductivity also positions it as a choice material for electronic components requiring effective heat dissipation. Additionally, with the rise of electric vehicles (EVs), magnesium plays a crucial role in battery production and other components, contributing to the overall efficiency and range of EVs. As the electronics industry continues to prioritize innovation and the development of compact and lightweight devices, the demand for magnesium in this sector is poised for continued rapid growth, shaping the trajectory of the magnesium market.

By Technology

By Technology, the Magnesium Market is divided by Traditional Method, Advanced Technologies.

Traditional methods, primarily electrolytic reduction, still hold the majority share of the magnesium market, accounting for approximately 64.73%. several advanced technologies are experiencing the fastest growth in the magnesium market, collectively projected to reach a CAGR of 7.2% between 2024 and 2032.

Traditional methods continue to lead, driven by their well-established processes, cost-effectiveness, and the extensive operational expertise developed over years. These methods, such as the Pidgeon process and Magnetherm process, are favored for their reliability and global-scale production capabilities. Industries often prefer the continuity and familiarity of these traditional techniques, particularly when existing infrastructure investments are considered.

Simultaneously, advanced technologies in magnesium production are experiencing rapid growth, propelled by environmental concerns, efficiency improvements, government regulations, and ongoing innovation. As sustainability becomes a paramount focus, industries are increasingly adopting advanced technologies that offer reduced emissions and energy consumption. The pursuit of improved efficiency and compliance with stringent environmental standards serves as a catalyst for the swift adoption of innovative magnesium production technologies.

The dynamic interplay between traditional methods and advanced technologies underscores the magnesium market's evolution. While traditional methods maintain their leadership position based on historical success and operational reliability, the surge in advanced technologies reflects a collective industry response to environmental imperatives and the pursuit of enhanced efficiency. As industries navigate this complex landscape, the magnesium market stands at the intersection of tradition and innovation, shaping its trajectory through a balance of established practices and forward-looking technological advancements.

By Region

By region, the global Magnesium Market is divided into North America, Europe, APAC and Others. Others is further divided into Middle East, Africa and South America.

Asia-Pacific holds the undisputed crown, dominating the magnesium market with a share exceeding 56.12%. South America is experiencing the most rapid growth, boasting a projected CAGR of over 4.8% between 2024 and 2032.

The Asia-Pacific (APAC) region has established itself as a leader in the magnesium market due to a combination of factors that contribute to sustained demand and consumption. The robust industrial growth in APAC economies, particularly in China, has fueled a substantial need for magnesium across various sectors. APAC's thriving steel and alloy production industries, heavily concentrated in countries like China and Japan, significantly contribute to the high demand for magnesium, which serves as a vital component in alloy formulations. The automotive sector, a major consumer of magnesium for lightweighting applications, has experienced considerable expansion in APAC, further amplifying the region's dominance in magnesium consumption. Additionally, ongoing investments in infrastructure projects, driven by rapid urbanization and economic development in APAC nations, continue to propel the demand for magnesium-based materials in construction and related industries.

On the other hand, South America emerges as the fastest-growing region in the magnesium market, displaying potential for substantial market expansion in the coming years. The region's richness in natural resources, particularly magnesium deposits, positions South America as a potential hub for magnesium production. If significant investments are made in mining infrastructure and extraction technologies, South American countries, led by nations like Brazil, could witness substantial growth in magnesium-related industries. Additionally, the emergence of new industries, such as aerospace, defense, and electronics, which increasingly rely on magnesium alloys, contributes to the region's status as the fastest-growing player. South America's strategic positioning and focus on capitalizing on global market dynamics, including shifts in demand and technological advancements, underscore its potential to become a key player in the evolving landscape of the magnesium market.

Competitive Landscape

The global Magnesium Market is consolidated with the presence of few major players contributing to the market revenue. This dominance of these major players is driven by their technological expertise, extensive resources, and established brand recognition. These companies typically offered comprehensive and diversified solutions to end use industries.

• China Magnesium International Trading Co., Ltd.

Established in 1996, China Magnesium International Trading Co., Ltd. (CMI) has evolved from a trading company to a prominent figure in the global magnesium market. It holds a distinctive position across the supply chain, engaging in primary magnesium production, secondary processing, downstream alloying, and international trade.

• Dead Sea Magnesium Ltd.

Founded in 1952, Dead Sea Magnesium Ltd. (DSM) stands as a distinctive force in the magnesium market, specializing in the extraction and processing of magnesium from the Dead Sea brine—one of the world's most concentrated sources of this essential element. Renowned for its high-purity magnesium, DSM has cultivated a reputation for exceptional quality and environmentally conscious practices. By strategically leveraging its access to the Dead Sea's natural resources, DSM has carved out a unique position in the market, prioritizing sustainability. With a commitment to addressing challenges, capitalizing on emerging opportunities, and promoting environmentally responsible mining and production, DSM is well-positioned to maintain its role as a leading producer of high-purity magnesium, contributing to advancements in diverse industries.

• Norsk Hydro ASA

Norsk Hydro ASA, commonly known as Hydro, is a prominent Norwegian multinational renowned for its extensive history and diversified portfolio. Originally recognized for aluminum production, Hydro has strategically broadened its scope into the renewable energy sector, establishing itself as a pioneer in sustainable and responsible resource management. The company has effectively transitioned from a traditional aluminum giant to a diversified leader, excelling in both aluminum and renewable energy. Through leveraging strengths, tackling challenges, and seizing emerging opportunities, Hydro is well-positioned to persist as a global leader in sustainable resource management, influencing the trajectories of both the aluminum and clean energy sectors.

• Shaanxi Yinguang Magnesium Industry Co., Ltd.
• Shanxi Bada Magnesium Co., Ltd.
• Solikamsk Desulphurizer Works Ltd. 
• Taiyuan Tongxiang Metal Magnesium Co., Ltd.
• US Magnesium LLC
• Magnesio y Metales
• A. de C.V.
• POSCO Chemical Co., Ltd.
• China Nonferrous Metal Mining Group Co., Ltd.
• Sichuan Hongyuan Magnesium Co., Ltd.
• Magnesium Elektron GmbH
• Shanghai Maohui Magnesium Technology Co., Ltd.
• Magnesium Corp. of America
• Chongqing Tianqi Magnesium Technology Co., Ltd
• Shanghai Tianyu Magnesium Technology Co., Ltd.
• Hyndai Metal Co., Ltd.
• Japan Magnesium Co., Ltd.
• Alliance Magnesium

Recent Developments

• October 26, 2023: Albemarle Corporation has unveiled a collaboration with Magnesio y Metales, S.A. de C.V. (Mexico) to assess the viability of producing magnesium metal in Mexico using renewable energy sources, aligning with the increasing emphasis on sustainable magnesium production.
• November 15, 2023: Albemarle Corporation has formalized a memorandum of understanding with Norsk Hydro ASA (Norway) to jointly pioneer new magnesium alloys tailored for the automotive and aerospace industries. This underscores the significance of innovation in magnesium alloying for cutting-edge applications.
• November 7, 2023: China Magnesium International Trading Co., Ltd has inked a strategic cooperation agreement with Shanghai Maohui Magnesium Technology Co., Ltd. (China) to collaboratively advance lightweight magnesium alloys within the automotive and transportation sector. This signifies the growing emphasis on lightweighting solutions within China's automotive industry.
• December 12, 2023: China Magnesium International Trading Co., Ltd has disclosed intentions to invest in a new magnesium alloy production facility in Shaanxi province, China. This expansion reflects the company's confidence in the anticipated growth of the magnesium market.
• October 20, 2023: Magnesium Elektron GmbH has introduced a cutting-edge, high-performance magnesium alloy meticulously crafted for battery casings in electric vehicles, addressing the imperative for lightweight and durable materials in the swiftly expanding EV market.
• November 28, 2023: Magnesium Elektron GmbH has announced a collaborative venture with a leading aerospace manufacturer to develop magnesium components tailored for next-generation aircraft. This reaffirms the enduring importance of magnesium in the aerospace industry.
• October 25, 2023: US Magnesium LLC has successfully raised $50 million in a new funding round, earmarked for the expansion of production capacity and the advancement of cleaner magnesium production technologies. This funding underscores the escalating interest in sustainable solutions for magnesium production.
• November 22, 2023: US Magnesium LLC has disclosed a collaboration with a research institute to pioneer a groundbreaking magnesium recycling process, leveraging advanced separation techniques. This innovative initiative holds the promise of substantially enhancing the environmental sustainability of magnesium production.

Magnesium Market Scope

Table of Contents

1 INTRODUCTION OF GLOBAL MAGNESIUM MARKET

1.1 Overview of the Market

1.2 Scope of Report

1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

3.1 Data Mining

3.2 Validation

3.3 Primary Interviews

3.4 List of Data Sources

4 GLOBAL MAGNESIUM MARKET OUTLOOK

4.1 Overview

4.2 Market Dynamics

4.2.1 Drivers

4.2.2 Restraints

4.2.3 Opportunities

4.3 Porters Five Force Model

4.3.1. Bargaining Power of Suppliers

4.3.2. Threat of New Entrants

4.3.3. Threat of Substitutes

4.3.4. Competitive Rivalry

4.3.5. Bargaining Power among Buyers

4.4 Value Chain Analysis

5 GLOBAL MAGNESIUM MARKET, BY PRODUCT TYPE

5.1 Overview

5.2 Cast Alloys

5.3 Wrought Alloys

6 GLOBAL MAGNESIUM MARKET, BY END USER INDUSTRY

6.1 Overview

6.2 Automotive & Transportation

6.3 Electronics

6.4 Aerospace & Defense

6.5 Other Industries

7 GLOBAL MAGNESIUM MARKET, BY TECHNOLOGY

7.1 Overview

7.2 Traditional Methods

7.3 Advanced Technologies

8 GLOBAL MAGNESIUM MARKET, By REGION

8.1 North America

8.1.1 U.S.

8.1.2 Canada

8.2 Europe

8.2.1 Germany

8.2.3 U.K.

8.2.4 France

8.2.5 Rest of Europe

8.3 Asia Pacific

8.3.1 China

8.3.2 Japan

8.3.3 India

8.3.4 South Korea

8.3.5 Singapore

8.3.6 Malaysia

8.3.7 Australia

8.3.8 Thailand

8.3.9 Indonesia

8.3.10 Philippines

8.3.11 Rest of Asia Pacific

8.4 Others

8.4.1 Saudi Arabia

8.4.2 U.A.E.

8.4.3 South Africa

8.4.4 Egypt

8.4.5 Israel

8.4.6 Rest of Middle East and Africa (MEA)

8.4.7 Brazil

8.4.8 Argentina

8.4.9 Mexico

8.4.10 Rest of South America

9 COMPANY PROFILES

9.1 China Magnesium International Trading Co., Ltd.

9.1.1. Company Overview

9.1.2. Key Executives

9.1.3. Operating Business Segments

9.1.4. Product Portfolio

9.1.5. Financial Performance (As per availability)

9.1.6 Key News

9.2 Dead Sea Magnesium Ltd.

9.2.1. Company Overview

9.2.2. Key Executives

9.2.3. Operating Business Segments

9.2.4. Product Portfolio

9.2.5. Financial Performance (As per availability)

9.2.6. Key News

9.3 Norsk Hydro ASA

9.3.1. Company Overview

9.3.2. Key Executives

9.3.3. Operating Business Segments

9.3.4. Product Portfolio

9.3.5. Financial Performance (As per availability)

9.3.6. Key News

9.4 Shaanxi Yinguang Magnesium Industry Co., Ltd.

9.4.1. Company Overview

9.4.2. Key Executives

9.4.3. Operating Business Segments

9.4.4. Product Portfolio

9.4.5. Financial Performance (As per availability)

9.4.6. Key News

9.5 Shanxi Bada Magnesium Co., Ltd.

9.5.1. Company Overview

9.5.2. Key Executives

9.5.3. Operating Business Segments

9.5.4. Product Portfolio

9.5.5. Financial Performance (As per availability)

9.5.6. Key News

9.6 Solikamsk Desulphurizer Works Ltd. 

9.6.1. Company Overview

9.6.2. Key Executives

9.6.3. Operating Business Segments

9.6.4. Product Portfolio

9.6.5. Financial Performance (As per availability)

9.6.6. Key News

9.7 Taiyuan Tongxiang Metal Magnesium Co., Ltd.

9.7.1. Company Overview

9.7.2. Key Executives

9.7.3. Operating Business Segments

9.7.4. Product Portfolio

9.7.5. Financial Performance (As per availability)

9.7.6. Key News

9.8 US Magnesium LLC

9.8.1. Company Overview

9.8.2. Key Executives

9.8.3. Operating Business Segments

9.8.4. Product Portfolio

9.8.5. Financial Performance (As per availability)

9.8.6. Key News

9.9 Magnesio y Metales, S.A. de C.V.

9.9.1. Company Overview

9.9.2. Key Executives

9.9.3. Operating Business Segments

9.9.4. Product Portfolio

9.9.5. Financial Performance (As per availability)

9.9.6. Key News

9.10 POSCO Chemical Co., Ltd.

9.10.1. Company Overview

9.10.2. Key Executives

9.10.3. Operating Business Segments

9.10.4. Product Portfolio

9.10.5. Financial Performance (As per availability)

9.10.6. Key News

9.11 China Nonferrous Metal Mining Group Co., Ltd.

9.11.1. Company Overview

9.11.2. Key Executives

9.11.3. Operating Business Segments

9.11.4. Product Portfolio

9.11.5. Financial Performance (As per availability)

9.11.6. Key News

9.12 Sichuan Hongyuan Magnesium Co., Ltd.

9.12.1. Company Overview

9.12.2. Key Executives

9.12.3. Operating Business Segments

9.12.4. Product Portfolio

9.12.5. Financial Performance (As per availability)

9.12.6. Key News

9.13 Magnesium Elektron GmbH

9.13.1. Company Overview

9.13.2. Key Executives

9.13.3. Operating Business Segments

9.13.4. Product Portfolio

9.13.5. Financial Performance (As per availability)

9.13.6. Key News

9.14  Shanghai Maohui Magnesium Technology Co., Ltd.

9.14.1. Company Overview

9.14.2. Key Executives

9.14.3. Operating Business Segments

9.14.4. Product Portfolio

9.14.5. Financial Performance (As per availability)

9.14.6. Key News

9.15  Magnesium Corp. of America

9.15.1. Company Overview

9.15.2. Key Executives

9.15.3. Operating Business Segments

9.15.4. Product Portfolio

9.15.5. Financial Performance (As per availability)

9.15.6. Key News

9.16 Chongqing Tianqi Magnesium Technology Co., Ltd

9.16.1. Company Overview

9.16.2. Key Executives

9.16.3. Operating Business Segments

9.16.4. Product Portfolio

9.16.5. Financial Performance (As per availability)

9.16.6. Key News

9.17 Shanghai Tianyu Magnesium Technology Co., Ltd.

9.17.1. Company Overview

9.17.2. Key Executives

9.17.3. Operating Business Segments

9.17.4. Product Portfolio

9.17.5. Financial Performance (As per availability)

9.17.6. Key News

9.18 Hyndai Metal Co., Ltd.

9.18.1. Company Overview

9.18.2. Key Executives

9.18.3. Operating Business Segments

9.18.4. Product Portfolio

9.18.5. Financial Performance (As per availability)

9.18.6. Key News

9.19 Japan Magnesium Co., Ltd.

9.19.1. Company Overview

9.19.2. Key Executives

9.19.3. Operating Business Segments

9.19.4. Product Portfolio

9.19.5. Financial Performance (As per availability)

9.19.6. Key News

9.20 Alliance Magnesium

9.20.1. Company Overview

9.20.2. Key Executives

9.20.3. Operating Business Segments

9.20.4. Product Portfolio

9.20.5. Financial Performance (As per availability)

9.20.6. Key News

Global Magnesium Market Segmentation

Magnesium by Product Type: Market Size & Forecast 2023-2032

• Cast Alloys
• Wrought Alloys

Magnesium by End-use Industries: Market Size & Forecast 2023-2032

• Automotive & Transportation
• Electronics
• Aerospace & Defense
• Other Industries

Magnesium by Technology: Market Size & Forecast 2023-2032

• Traditional Method
• Advanced Technologies

Magnesium by Geography: Market Size & Forecast 2023-2032

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

• China Magnesium International Trading Co., Ltd.
• Dead Sea Magnesium Ltd.
• Norsk Hydro ASA
• Shaanxi Yinguang Magnesium Industry Co., Ltd.
• Shanxi Bada Magnesium Co., Ltd.
• Solikamsk Desulphurizer Works Ltd. 
• Taiyuan Tongxiang Metal Magnesium Co., Ltd.
• US Magnesium LLC
• Magnesio y Metales
• A. de C.V.
• POSCO Chemical Co., Ltd.
• China Nonferrous Metal Mining Group Co., Ltd.
• Sichuan Hongyuan Magnesium Co., Ltd.
• Magnesium Elektron GmbH
• Shanghai Maohui Magnesium Technology Co., Ltd.
• Magnesium Corp. of America
• Chongqing Tianqi Magnesium Technology Co., Ltd
• Shanghai Tianyu Magnesium Technology Co., Ltd.
• Hyndai Metal Co., Ltd.
• Japan Magnesium Co., Ltd.
• Alliance Magnesium