Magnesium: The Lightweight Metal Powering Innovation
The global metal magnesium market was valued at USD 4.39 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030. This growth is primarily driven by rising demand across multiple sectors—particularly die casting and aluminum alloy production—where magnesium plays a crucial role due to its lightweight, strength-enhancing, and electromagnetic screening properties. Key Market Drivers 1. Growth in Die Casting & Alloying Applications Magnesium’s superior heat conductivity and strength-to-weight ratio make it an ideal material for die casting and for strengthening aluminum alloys. These properties are particularly beneficial for industries requiring lightweight yet durable materials, such as automotive, electronics, and aerospace. 2. Surge in Lightweight Mate...