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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Magnesium Raw Materials Market: By Type, By Application Mode, and Geography
Magnesium Raw Materials Market: By Type, By Application Mode, and Geography
Magnesium Raw Materials Market size valued US$ 532.4 million in 2023 and is poised to grow at a CAGR of 4.2% from 2024-2030. Upsurge in demand for magnesium and its alloys, particularly from the automotive industry is positively impacting the market growth. Furthermore, growth in the usage of magnesium in the manufacturing of aluminum alloys and in die molding methods is projected to escalate the demand for magnesium raw materials. Moreover, rising acceptance of aluminum-magnesium alloys coupled with die cast magnesium in transport segment is anticipated to appendage the market growth. In addition, developments in technology besides increasing investments in R&D activities to accomplish the cumulative demands of magnesium is expected to bolster the demand for magnesium raw materials. However, emission of harmful UV radiations when burnt and explosive nature of magnesium raw materials tends to hamper the growth of market. This report studies global Magnesium Raw Materials industry market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global Magnesium Raw Materials industry market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Study Period
2024-2030Base Year
2023CAGR
4.2%Largest Market
Asia-PacificFastest Growing Market
North-America
Magnesium raw materials finds a wide range of applications in dead burned magnesia, caustic-calcined magnesia, fused magnesia, electro fused magnesia, others. Caustic – calcined magnesia is expected to register a significant CAGR in the coming years. Caustic calcined magnesia products are used for the widest spectrum of solicitations, explicitly chemical, steel / refractories construction, industrial/technical, agricultural, environmental. Deadburned magnesia has an essential requirements for refractory masses, wielding fluxes, displays high substance concentrations with low porosity and high hydration resistance, and other applications.
North America is estimated to be the top player in the global market owing to the industrial development coupled with rising requirements of environmental issues. Growing demand for magnesium raw materials (magnesite) in the countries like United States, is predictable to boost the market growth. Asia Pacific is expected to register a considerable CAGR. Rapid industrializations and urbanization in emerging economies like India and China is expected to fuel the market growth in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 532.4 million |
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Market CAGR |
4.2% |
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By Type |
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By Application |
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By Region |
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The magnesium raw materials market size was valued at US$ 532.4 million in 2023
The magnesium raw materials market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
North America is the fastest-growing for magnesium raw materials market
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.