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.
The magnesium casting market was valued at approximately USD 2.5 billion in 2022, with projections indicating a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This growth is driven by the increasing demand for lightweight materials in the automotive and aerospace sectors, where magnesium's low density and high strength-to-weight ratio offer significant advantages. Additionally, the rise in electric vehicle production and advancements in manufacturing technologies are contributing to this upward trend. The market is also witnessing substantial investment in research and development aimed at improving casting techniques and expanding applications across various industries.
Emerging market opportunities are notably present in regions such as Asia-Pacific, which is experiencing rapid industrialization and a burgeoning automotive sector. This region, along with others investing heavily in infrastructure and advanced technologies, presents lucrative prospects for market expansion. The increased focus on reducing carbon emissions and enhancing fuel efficiency further bolsters the demand for magnesium casting, as it supports the production of lighter and more efficient components. These factors collectively suggest a robust growth trajectory for the magnesium casting market, positioning it as a key area of interest for stakeholders looking to capitalize on emerging trends and technological advancements.
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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.
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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)
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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
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