Market Overview:
The global aerospace magnesium alloys market is estimated to be valued at US$ XX Mn in 2018 and is projected to register a CAGR of X.X% over the forecast period (2018-2030), reaching a value of US$XX Mn by 2030. The market growth can be attributed to the increasing demand for lightweight materials in aircraft manufacturing, owing to their superior properties such as high strength-to-weight ratio and corrosion resistance. Based on type, the global aerospace magnesium alloys market has been segmented into casting alloys and wrought alloys. Casting alloys are further classified into die casting alloys and sand casting alloys. Wrought magnesium alloy is further classified into extruded alloy, forged alloy, rolled alloy and cast alloy. Among these types, die casting accounted for the majority share of the global aerospace magnesiumalloy market in 2017 due to its ability to produce intricate shapes with good dimensional accuracy at low costs as compared with other methods such as forging or machining . However, wrought magnesiumalloy is projectedto register a higher CAGR overthe forecast period owingto its superior properties that make it suitable for high performance applications in aircrafts .
Product Definition:
A magnesium alloy is an alloy containing magnesium as the main component. Magnesium alloys are used in a wide variety of applications, including aerospace and automotive engineering. Magnesium alloys have a high strength-to-weight ratio, making them ideal for use in weight-sensitive applications. Additionally, magnesium alloys are corrosion resistant and have a low melting point, making them easy to work with and fabricate into finished products.
Casting Alloys:
Casting alloys is a process of making metals by the removal of unwanted materials from the raw material. In this process, various alloying elements are added to the base metal to produce specific casting alloys. The most commonly used metals for casting include aluminum, copper and zinc. These three metals are widely used in various end-use industries including aerospace and automotive among others owing to their properties such as ductility, malleability and high strength among others.
Wrought Alloys:
Wrought alloys are magnesium-alloy components manufactured using conventional or advanced processing methods. The product is available in various forms including castings, extrusions, and sheets. It can be used as a replacement for aluminum and steel in various applications such as aircraft structures, engine parts, transmission components among others.
Application Insights:
The commercial aircraft segment accounted for the largest revenue share of over 60% in 2017. The demand is expected to be driven by growing passenger traffic and fleet size across several airlines. In addition, favorable government policies regarding tax rebates for purchasing fuel-efficient vehicles are anticipated to drive the demand further.
The military aircraft application segment is projected to witness significant growth over the forecast period owing to increasing defense expenditure across countries globally. This has resulted in an increased requirement of military aircraft, which has been fueling the market growth since past few years. However, civil aviation Authority (CAA) imposed restrictions on using magnesium metal due to safety concerns as it could pose a threat during take-off and landing if any part of an engine or other vital component wereto come loose from its mounting due to fatigue failure or cracking caused by thermal expansion & contraction.
Regional Analysis:
North America accounted for the largest market share of over 35% in 2017. The region is expected to witness significant growth on account of increasing use of magnesium in aerospace industry. In addition, rising demand from the automotive sector is anticipated to drive the regional market further.
The U.S., being a leading automobile producer, has witnessed an increased demand for lightweight materials such as magnesium since they help reduce weight and improve fuel efficiency of vehicles, thus boosting automotive sales in the country’s economy over last few years.
Asia Pacific was valued at USD X million in 2017 and is expected to register fastest CAGR exceeding 6% during the forecast period owing to rapid expansion plans by Boeing.
Growth Factors:
- Increasing demand for lightweight and fuel-efficient aircrafts is expected to drive the growth of the aerospace magnesium alloys market.
- The increasing use of magnesium alloys in defense applications is also projected to boost the market growth during the forecast period.
- Growing investments in R&D activities for developing new and advanced magnesium alloys is anticipated to propel the market growth over the next few years.
- Rising demand from emerging economies, such as China and India, is expected to create lucrative opportunities for players operating in this market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Aerospace Magnesium Alloys Market Research Report
By Type
Casting Alloys, Wrought Alloys
By Application
Commercial Aircraft, Military Aircraft
By Companies
Smiths Metal, Meridian, Luxfer MEL Technologies, Sumitomo Electric, Advanced Magnesium Alloys Corporation, Dynacast, Dead Sea Magnesium, Ka Shui International Holdings, Nanjing Yunhai Special Metals, Regal Magnesium, Shanxi Yinguang Huasheng Magnesium, Shanxi Fugu Tianyu Mineral
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
122
Number of Tables & Figures
86
Customization Available
Yes, the report can be customized as per your need.
Global Aerospace Magnesium Alloys Market Report Segments:
The global Aerospace Magnesium Alloys market is segmented on the basis of:
Types
Casting Alloys, Wrought Alloys
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Aircraft, Military Aircraft
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Smiths Metal
- Meridian
- Luxfer MEL Technologies
- Sumitomo Electric
- Advanced Magnesium Alloys Corporation
- Dynacast
- Dead Sea Magnesium
- Ka Shui International Holdings
- Nanjing Yunhai Special Metals
- Regal Magnesium
- Shanxi Yinguang Huasheng Magnesium
- Shanxi Fugu Tianyu Mineral
Highlights of The Aerospace Magnesium Alloys Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Casting Alloys
- Wrought Alloys
- By Application:
- Commercial Aircraft
- Military Aircraft
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Aerospace Magnesium Alloys Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Aerospace magnesium alloys are a type of alloy that is used in aircraft and aerospace components. These alloys are made up of magnesium and other metals, and they have high strength and stiffness properties. They are also resistant to corrosion, which makes them ideal for use in aircraft parts that will be exposed to the elements.
Some of the major players in the aerospace magnesium alloys market are Smiths Metal, Meridian, Luxfer MEL Technologies, Sumitomo Electric, Advanced Magnesium Alloys Corporation, Dynacast, Dead Sea Magnesium, Ka Shui International Holdings, Nanjing Yunhai Special Metals, Regal Magnesium, Shanxi Yinguang Huasheng Magnesium, Shanxi Fugu Tianyu Mineral.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aerospace Magnesium Alloys Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Aerospace Magnesium Alloys Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Aerospace Magnesium Alloys Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Aerospace Magnesium Alloys Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Aerospace Magnesium Alloys Market Size & Forecast, 2020-2028
4.5.1 Aerospace Magnesium Alloys Market Size and Y-o-Y Growth
4.5.2 Aerospace Magnesium Alloys Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Casting Alloys
5.2.2 Wrought Alloys
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Aircraft
6.2.2 Military Aircraft
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Aerospace Magnesium Alloys Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aerospace Magnesium Alloys Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Casting Alloys
9.6.2 Wrought Alloys
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Aircraft
9.10.2 Military Aircraft
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Casting Alloys
10.6.2 Wrought Alloys
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Aircraft
10.10.2 Military Aircraft
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Casting Alloys
11.6.2 Wrought Alloys
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Aircraft
11.10.2 Military Aircraft
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Casting Alloys
12.6.2 Wrought Alloys
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Aircraft
12.10.2 Military Aircraft
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Casting Alloys
13.6.2 Wrought Alloys
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Aircraft
13.10.2 Military Aircraft
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Aerospace Magnesium Alloys Market: Competitive Dashboard
14.2 Global Aerospace Magnesium Alloys Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Smiths Metal
14.3.2 Meridian
14.3.3 Luxfer MEL Technologies
14.3.4 Sumitomo Electric
14.3.5 Advanced Magnesium Alloys Corporation
14.3.6 Dynacast
14.3.7 Dead Sea Magnesium
14.3.8 Ka Shui International Holdings
14.3.9 Nanjing Yunhai Special Metals
14.3.10 Regal Magnesium
14.3.11 Shanxi Yinguang Huasheng Magnesium
14.3.12 Shanxi Fugu Tianyu Mineral
