Aerospace Magnesium Alloys Market Report Forecast 2022-2028

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posted on 2 years ago — updated on 1 second ago

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The global Aerospace Magnesium Alloys market size is estimated to be worth US$ 180.85 million in 2022 and is forecast to a readjusted size of US$ 277.1 million by 2028 with a CAGR of 7.37% during the forecast period 2022-2028.

Aerospace Magnesium Alloys Market

Aerospace magnesium alloys are used in aircraft, missiles and spacecraft. These alloys are essential for the structural integrity of airframes and engines due to their light weight and high tensile strength.

Report Sample includes:

-Table of Contents

- List of Tables & Figures

- Charts

- Research Methodology

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Fully considering the economic change by this health crisis, Casting Alloys accounting for 44.91% of the Aerospace Magnesium Alloys global market in 2021, is projected to value US$ 115.8 million by 2028, growing at a revised 6.3% CAGR from 2022 to 2028. While Commercial segment is altered to an 8.39% CAGR throughout this forecast period.

Segment Analysis:

The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

By Company:

The global major manufacturers of Aerospace Magnesium Alloys include Luxfer MEL Technologies, Magontec, Shanxi Yinguang, Huasheng Magnesium, Shanxi Bada Magnesium, Smiths Metal, Regal Magnesium, Allite, Inc., Shanxi Fugu Tianyu Mineral, Alloys International, Huashun Magnesium Industry and Tech Steel & Materials, etc. In terms of revenue, the global three largest players hold a 60% market share of Aerospace Magnesium Alloys in 2021.

Luxfer MEL Technologies
Magontec
Shanxi Yinguang Huasheng Magnesium
Shanxi Bada Magnesium
Smiths Metal
Regal Magnesium
Allite, Inc.
Shanxi Fugu Tianyu Mineral
Alloys International
Huashun Magnesium Industry
Tech Steel & Materials

Segment by Type

Casting Alloys
Wrought Alloys

Segment by End User

Commercial
Military

North America Aerospace Magnesium Alloys market size was US$ 86.06 million in 2021, while Europe was US$ 59.82 million. The proportion of the North America was 43.78% in 2021, while Europe's percentage was 30.43%, and it is predicted that Europe market share will reach 30.14% in 2028, trailing a CAGR of 7.13% through the analysis period. As for the Asia, the notable markets are China CAGR is 7.39% for the next 6-year period.

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Production by Region