Metal Magnesium Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027
The global metal magnesium market size is expected to reach USD 6.8 billion by 2027, expanding at a revenue-based CAGR of 8.8%, according to a new report by Grand View Research, Inc. Increased magnesium die casting product demand in various end-use industries is expected to drive the market. Die casting products find wide applications in automotive, aerospace and defense, electronic casing, and housing. Despite high conductive properties, magnesium metal offers great resistance to radio and electromagnetic properties. This is likely to attract the demand in casings for phones, laptops, phones, and televisions over the coming years. Lightweight and insulative properties make these alloys useful in spacecraft, rockets, missiles, and aircraft. The medical sector is projected to provide numerous opportunities for market vendors over the coming years. Magnesium alloys can be used in internal braces and dissolvable medical fittings. Other products such as power tools, bicycles, brackets, seat frames, sporting good equipment, ladders, and containers are also anticipated to attract significant demand over the long term.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/metalmagnesium-market Incessant production of automobiles is projected to drive the market over the long term. Automotive manufacturers are under pressure in order to reduce the weight of vehicles for improvement of fuel efficiency. Governments in various countries have imposed strict regulations for automakers to protect the environment through the reduction of pollution. Some of the key countries include the U.S., China,