Magnesium Casting Market was valued at USD 5.25 Billion in 2022 and is projected to reach USD 8.12 Billion by 2030, growing at a CAGR of 6.34% from 2024 to 2030.
However, the demand from 2023 to 2033 presents a different trajectory. Industry experts predict a shift toward more sustainable and eco-friendly materials in the casting market, which could see magnesium casting demand stabilize or even decline in some regions. As governments and organizations push for carbon-neutral goals, industries are exploring alternatives to magnesium. Furthermore, there is a growing shift in focus towards recycling and reusability, affecting the material sourcing patterns. Though magnesium still maintains its position as a light, durable, and cost-effective choice, its role in emerging industries like electric vehicles (EVs) and renewable energy applications will be more critical in the coming years. Notably, the use of magnesium alloys in the battery housing of EVs and wind turbine components will open new opportunities for growth in the magnesium casting market.
Get an In-Depth Research Analysis of the Global Magnesium Casting Market Size And Forecast [2025-2032]
The magnesium casting market has witnessed significant growth from 2018 to 2022, driven by a surge in demand from automotive, aerospace, and electronics industries. Magnesium, being one of the lightest metals, has become a preferred material for manufacturers looking to reduce weight in products such as engine blocks, transmission cases, and even structural components. The market, which was valued at approximately USD 3.5 billion in 2021, is projected to experience steady growth over the next decade, with increased adoption across various industries. As per the most recent data, the automotive sector holds a major share, accounting for nearly 70% of global magnesium casting demand, particularly in the production of lightweight vehicles that meet fuel efficiency and sustainability standards.
AmTech International
Auer Guss GmbH
Buhler AG
Chicago Magnesium Casting Company
Dynacast International
Faw Foundry
Hettich
JPM Group
Magnesium Elektron
Pace Industries
Skyrock
TCDC
The Lite Metals
Thompson Aluminum Casting Company (TAC)
TyTek Industries
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global Magnesium Casting Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the Global Magnesium Casting Market
Automobiles
Electronics
Appliances
Hand Tools
Military area
Aerospace field
Others
Based on Types the Market is categorized into Below types that held the largest Magnesium Casting market share In 2023.
Magnesium die-casting
Magnesium sand-casting
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Magnesium Casting Market Research Analysis
1. Introduction of the Global Magnesium Casting Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Magnesium Casting Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Magnesium Casting Market, By Type
6. Global Magnesium Casting Market, By Application
7. Global Magnesium Casting Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Magnesium Casting Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/