July 21, 2020

Magnesium Alloys in Automotive Industry Competitive Dynamics, Size, Global Outlook And Forecast To 2025


Global Magnesium Alloys in Automotive Industry Information Report by Type (Iron, Titanium, Steel), by Application (Chassis, Powertrain), by Vehicles (Passenger Vehicle and Commercial Vehicles) and by Region - Global Forecast to 2022

Magnesium Alloys in Automotive Industry Synopsis

Reduction in weight is essential for the fuel efficiency of any vehicle and perhaps, the growing requirement to make vehicles fuel efficient is driving the demand of alloys for automotive applications.

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Competitive Landscape

AGCO Corporation (U.S), Kobe Steel, Ltd. (Japan), AMG Advanced Metallurgical Group NV (Netherlands), ArcelorMittal SA (Luxembourg), Alcoa Inc. (U.S.), Norsk Hydro ASA (Norway), ThyssenKrupp AG (Germany), UACJ Corporation (Japan), Constellium (Netherlands), and Aditya Birla Group (India) are the key players in the Magnesium Alloys in Automotive Industry.

Market Segmentation

The global Magnesium Alloys in Automotive Industry has been segmented based type, application, and vehicle.

By application, the Magnesium Alloys in Automotive Industry has been segmented chassis, powertrain, interior, and exterior.

By vehicle, the Magnesium Alloys in Automotive Industry has been segmented into passenger vehicle and commercial vehicle. The passenger vehicle segment is anticipated to capture the larger share of the market due to the growing need for transportation across the globe.

Regional Analysis

Region-wise, the Magnesium Alloys in Automotive Industry has been segmented into North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).

North America follows APAC closely. The region too is exhibiting substantial growth since the last few years and is poised to capture the second largest share of the market over the forecast period. Rising production of electric vehicles along with high sales of luxury cars, are driving the market in North America.

Europe too is a significant revenue pocket for the Magnesium Alloys in Automotive Industry. Significant investments in the automotive industry by key players in the region, along with fuel efficiency regulations, are boosting the growth of the Europe market.

Industry Updates

June 2019 - a new single-step advanced alloy manufacturing process could be a major breakthrough for the automotive industry. A team at the US Department of Energy’s Pacific Northwest National Laboratory has discovered the process which produces nanostructured rods and tubes from high-performance aluminum alloy powder. The process eliminates various steps that are generally a part of the usual process whilst achieving a sharp increase in product quality.

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