Magnesium Metal Market To Reach 6.2 Bn By 2026
Environmental and legislative influences will continue to promote the use of magnesium vis-à-vis steel and aluminium. As lightweight and fuel-efficient vehicles gain centre stage in the automotive landscape, magnesium is gaining traction as a preferred manufacturing material.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. As lightweight and fuel-efficient vehicles gain centre stage in the automotive landscape, magnesium is gaining traction as a preferred manufacturing material.Magnesium’s applications in making automotive wheels, transmission cases, and engine blocks will continue to fuel demand in 2016 and beyond.
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Long-term Outlook: The global magnesium metal market is anticipated to increase at a CAGR of<br />
7.1% during 2016-<strong>2026</strong>, reaching <strong>6.2</strong> <strong>Bn</strong> in revenues by <strong>2026</strong>. APEJ will remain the largest market<br />
throughout the forecast period, increasing at a CAGR of 7.3% through <strong>2026</strong>.<br />
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