12 Jul, 2019

Several new magnesium

Pressure gauge dials Manufacturer — Autor goodgaugecase @ 08:02
Global demand for magnesium metal will reach 1,085 KT in 2016, representing market value worth US$ 3. Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. The global magnesium metal market is anticipated to increase at a CAGR of 7.Application-wise, magnesium alloys and die-casting will continue to remain the largest segments, accounting for 349 KT and 302 KT respectively in 2016., Ltd., Ltd..,Wenxi YinGuang Magnesium Industry (Group) Co.; POSCO; RIMA Group; Solikamsk Magnesium Works OAO., Ltd, Shanxi Wenxi Hongfu Magnesium Co. Demand will also be supported by magnesium’s growing applications in iron and steel desulphurisation. The Stainless steel punching parts Suppliers region accounts for a major share in overall global automotive and steel production, and magnesium is widely used in these industries. Steady automotive sales in the US and Western Europe, combined with a rapidly growing Asia Pacific automotive market will continue to drive demand for magnesium, as manufacturers increase their emphasis on fuel efficiency and emission control. Magnesium’s applications in making automotive wheels, transmission cases, and engine blocks will continue to fuel demand in 2016 and beyond. Environmental and legislative influences will continue to promote the use of magnesium vis-à-vis steel and aluminium. Leading players in the magnesium metal landscape are expected to focus on capacity expansions and capacity additions to address these challenges. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends. Over the next two to three years several new magnesium production facilities are slated to become operational across the globe. As lightweight and fuel-efficient vehicles gain centre stage in the automotive landscape, magnesium is gaining traction as a preferred manufacturing material.2 Bn in revenues by 2026.13 Bn. Magnesium will continue to witness stable demand from the aerospace sector, owing to its excellent properties as a reductant in manufacturing titanium. Players based outside China are channelising efforts towards ramping up production capacities to better cater to growing magnesium demand across the globe. While magnesium’s excellent properties will continue to boost its adoption in end-use industries, slower economic growth and stringent import regulations can impede demand in 2016.3% through 2026.Asia Pacific excluding Japan (APEJ) will remain the largest market for magnesium metals, accounting for 518 KT of magnesium in 2016, up from 482 KT in 2015. China will continue to be the most lucrative market for magnesium -- of the overall global magnesium production capacity, around 85% is concentrated in China, while the remainder is distributed in pockets across the globe.


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