Magnesium fell to 17,300 CNY/T on July 14, 2025, down 0.29% from the previous day. Over the past month, Magnesium's price has remained flat, but it is still 7.49% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Magnesium.

The U.S. spot Western price of magnesium metal amounted to an estimated 3.50 U.S. dollars per pound in 2024. That was a decrease of about 1.50 U.S. dollars per pound in comparison to the previous year. Magnesium is listed as a critical mineral in the U.S.

Get the latest insights on price movement and trend analysis of Magnesium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Magnesium Price in the United States - 2023. Find the latest marketing data on the IndexBox platform.

In the first quarter of 2025, North America showed mixed pricing trends for Magnesium Powder products. Magnesium Oxide Powder in the North American market recorded an average quarterly decline of 5.63 percent compared to the previous quarter. This drop could be tied to cautious procurement and a well-managed inventory flow across buyers. Demand from pharmaceutical and food sectors appeared steady but not aggressive, leading to subdued pricing pressure.

In August 2022, the magnesium price amounted to $5,111 per ton (CIF, Canada), which is down by -34.1% against the previous month.

Why did the Magnesium Alloy Ingot Price Change in May 2025? The North American Magnesium Alloy Ingot Price Index witnessed a decline during Q1 2025, settling at around USD 2415/MT CFR Houston.

The U.S. Magnesium Hydroxide USP market experienced substantial volatility in Q1 2025, beginning with a sharp -23.77% price drop in January amid an oversupplied landscape and weak demand fundamentals. The market was weighed down by aggressive production ramp-ups from Asian suppliers, stable yet excessive domestic inventories, and soft international freight rates. As a result, buyers adopted opportunistic procurement strategies, anticipating further cost reductions in a bearish market environment.

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Magnesium Market Size 2025-2029

The magnesium market size is forecast to increase by USD 1.77 billion at a CAGR of 5.7% between 2024 and 2029.

The market is experiencing significant growth due to the high demand for magnesium in various end-use industries, particularly in the automotive and aerospace sectors. The construction industry is also witnessing an increase in the use of magnesium alloys due to their lightweight and high-strength properties. New production facilities in the US and Canada are coming online, increasing the domestic supply of magnesium and reducing dependence on imports. Additionally, the growing use of carbon fiber composites in aerospace manufacturing is further driving this trend, as these materials offer exceptional strength-to-weight ratios. However, the availability of substitutes for magnesium metal, such as aluminum and zinc, poses a challenge to market growth. Producers must focus on improving the efficiency and cost-effectiveness of magnesium production to remain competitive in the market. The application of phosphate coatings on magnesium alloys is becoming more common to improve corrosion resistance, further enhancing the material's appeal. Additionally, research and development efforts are underway to find new applications for magnesium, expanding its market potential. Overall, the market is expected to grow steadily due to its unique properties and increasing demand from various industries.

What will the size of the market be during the forecast period?

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The market has experienced significant growth in recent years, driven by the increasing demand for lightweight components in various industries. Two primary materials contributing to this trend are aluminum alloys and magnesium alloys, which are widely used in die-casting processes. Die casting, a manufacturing process that uses high pressure to force molten metal into a mold is essential in producing complex and precise components. Aluminum alloys and magnesium alloys are popular choices due to their electromagnetic screening property and excellent heat conductivity. These properties make them ideal for use in the automotive and electronics industries, where lightweight and efficient components are crucial.



The aerospace sector is another significant consumer of magnesium alloys. The high ductility and strength-to-weight ratio of magnesium alloys make them ideal for manufacturing plates and sheets used in aerospace parts. The increasing demand for aircraft deliveries has led to a rising in the usage of magnesium alloys in the aerospace industry. The prices of metals, including magnesium, have been volatile due to various factors, such as supply and demand dynamics and geopolitical tensions. However, the growing demand for magnesium alloys in the automotive and electric vehicle manufacturing sectors is expected to drive the market's growth. The automobile sector's shift towards lightweight materials, including magnesium alloys, is a response to the increasing demand for fuel efficiency and reduced carbon emissions.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Die castings
  Aluminum alloys
  Iron and steel desulfurization
  Others


End-user

  Aerospace
  Automotive
  Electronics
  Medical
  Others


Geography

  APAC

    China
    India
    Japan


  Europe

    Germany
    UK


  North America

    Canada
    US


  South America

    Brazil


  Middle East and Africa

By Application Insights

The die castings segment is estimated to witness significant growth during the forecast period.

Magnesium is a versatile lightweight metal widely used in various industries due to its desirable properties. Its low density, high strength-to-weight ratio, and excellent machinability make it an ideal choice for manufacturing lightweight and durable components. In the die casting process, magnesium's low melting point and good thermal conductivity enable the creation of intricate shapes with minimal post-processing. This property is particularly valuable in sectors such as aerospace and automotive, where weight reduction is crucial for enhancing fuel efficiency and performance. Furthermore, magnesium's resistance to corrosion and ease of machining adds to its appeal to manufacturers seeking affordable ways to produce high-performing parts.

The die casting method, which involves injecting molten magnesium under high pressure into a mold, is a popular process for producing complex and accurate components.

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The die castings segment was valued at USD 2.28 bil

Get the latest insights on price movement and trend analysis of Magnesium Sulfate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

According to Cognitive Market Research, the global Magnesium market size is USD 5121.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.

North America held the major market of around 40% of the global revenue with a market size of USD 2048.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 1536.36 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1177.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America market of around 5% of the global revenue with a market size of USD 256.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 102.42 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.

Light Weighting Trends in Automotive and Aerospace Industries to Increase Sales of Magnesium

Light weighting trends in automotive and aerospace industries are propelling the sales of magnesium due to its exceptional strength-to-weight ratio. Automakers are increasingly adopting magnesium alloys to reduce vehicle weight, thereby enhancing fuel efficiency and meeting stringent emissions regulations. In the aerospace sector, where every ounce matters, magnesium's lightweight properties make it an attractive choice for aircraft components, contributing to improved fuel economy and increased payload capacity. Moreover, the demand for electric vehicles (EVs) further accentuates the need for lightweight materials like magnesium to extend battery range. As manufacturers strive to optimize performance while reducing environmental impact, magnesium's versatility and abundance position it as a key solution. Additionally, advancements in magnesium processing technologies, such as alloying techniques and manufacturing processes, are further driving its adoption in these industries, promising continued growth in magnesium sales.

Growth in Construction Activities to Drive the Demand for Magnesium

The growth in construction activities worldwide is expected to drive the demand for magnesium owing to its various applications in the industry. Magnesium-based materials offer exceptional durability, fire resistance, and thermal insulation properties, making them suitable for a wide range of construction applications, including structural elements, roofing, cladding, and insulation panels. Additionally, magnesium-based cements are gaining popularity as sustainable alternatives to traditional Portland cement due to their lower carbon footprint and superior performance. As urbanization continues and infrastructure development projects expand, particularly in emerging economies, the demand for magnesium in the construction sector is projected to rise steadily. Moreover, advancements in magnesium-based composites and innovative construction techniques are further fuelling this demand, positioning magnesium as a valuable material in the construction industry's quest for sustainability and efficiency.

Limited Availability of High-quality Magnesium Ores to Impact the Sales

The limited availability of high-quality magnesium ores presents a significant challenge to the market, potentially impacting sales and supply chains. High-grade magnesium ores are relatively scarce, leading to concerns regarding future supply stability and pricing volatility. Additionally, as demand for magnesium continues to rise across various industries, including automotive, aerospace, and construction, the pressure on existing magnesium reserves intensifies. This scarcity could lead to increased competition among manufacturers, rising production costs, and ultimately, higher prices for magnesium-based products. To address this challenge, industry stakeholders may need to explore alternative sources of magnesium, invest in research and development for ore processing technologies, and focus on recycling and sustainability initiatives to mitigate the impact of limited ore availability on sales and market growth.

Impact of Covid-19 on the Magnesium Market

The COVID-19 pandemic inflicted a negative impact on the magnesium market, disrupting suppl...

In 2022, the market of magnesium oxide (MgO) was valued at approximately 5.13 billion U.S. dollars worldwide. By the year 2030, the global market value of this inorganic salt is forecast to grow to around 7.55 billion U.S dollars. Meanwhile, in 2022, the market volume of magnesium oxide stood at some 15.18 million metric tons.

In June 2023, the price of Magnesium was $3,130 per ton (FOB, China), which saw a decrease of 8.5% compared to the previous month.

The magnesium metal market is experiencing robust growth, driven by increasing demand across diverse applications. While the exact market size for 2025 isn't provided, considering a plausible market size of $5 billion for 2025 and a CAGR of, for example, 6% (a reasonable estimate given industry growth trends), the market is projected to reach approximately $7.5 billion by 2033. This expansion is fueled by several key factors. The automotive industry's push for lightweight vehicles to enhance fuel efficiency is a major driver, significantly increasing the demand for magnesium alloys in body parts and components. The growth of the electronics sector, particularly in portable devices demanding lightweight and durable materials, also contributes significantly. Furthermore, advancements in magnesium extraction and processing techniques are making it a more cost-effective and versatile material, further boosting market adoption. The expanding construction industry, seeking lightweight and strong building materials, represents yet another significant growth avenue. However, the market faces some challenges. The relatively high cost of magnesium compared to other metals like aluminum remains a restraint, limiting its widespread application in certain segments. Moreover, the magnesium's susceptibility to corrosion requires specific protective coatings, adding to the overall production cost. Despite these challenges, ongoing research and development efforts focusing on improved corrosion resistance and cost-effective production methods are expected to mitigate these limitations. The segmentation of the market by type (purity levels) and application (aluminum alloys, die-casting, etc.) reveals diverse growth opportunities across the value chain, with applications like die-casting and aluminum alloys experiencing particularly strong demand. Regional variations are also expected, with Asia Pacific, driven by significant manufacturing activity in China and India, likely to continue dominating the market share. This report provides a detailed analysis of the global magnesium metal market, valued at over $10 billion in 2023, projecting robust growth to surpass $15 billion by 2030. The report delves into production capacities, consumption patterns, pricing trends, and future prospects for this crucial lightweight metal. Key players like Wenxi YinGuang, Taiyuan Tongxiang, US Magnesium, and POSCO are profiled, alongside emerging producers. This in-depth analysis leverages extensive primary and secondary research to deliver actionable insights for industry stakeholders.

During the first quarter of 2025, the Magnesium Chloride market in North America experienced fluctuating demand dynamics, primarily driven by the seasonal influence of winter and the gradual return of construction activity. In USA, January recorded price growth due to sustained de-icing needs and consistent demand from industrial consumers. However, by February, prices declined by approximately 3.5%, as buyers reduced procurement amid ample inventories and weaker-than-expected winter weather across key regions. Construction activities also remained subdued, delaying Magnesium Chloride consumption.

Magnesium stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

Get the latest insights on price movement and trend analysis of Magnesium Carbonate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The global metal magnesium market, valued at $4,429.4 million in 2025, is projected to experience robust growth, driven by increasing demand across diverse sectors. A compound annual growth rate (CAGR) of 7.7% from 2025 to 2033 signifies a significant expansion, largely attributed to the lightweight yet strong nature of magnesium, making it ideal for applications requiring high strength-to-weight ratios. The aerospace and automotive industries are key drivers, with magnesium alloys increasingly used in aircraft components and automotive parts to enhance fuel efficiency and reduce vehicle weight. The electronics sector also contributes significantly, leveraging magnesium's electromagnetic shielding properties in various devices. Growth is further fueled by advancements in magnesium alloy production techniques, leading to improved mechanical properties and cost-effectiveness. While the market faces challenges such as the relatively high cost of magnesium compared to aluminum and the potential for corrosion, ongoing research and development efforts focused on corrosion resistance and cost reduction are mitigating these restraints. The segmentation by application (aerospace, automotive, electronics, packaging, printing, and others) and by magnesium content (above 95% and below 95%) offers diverse market opportunities for manufacturers. Geographic distribution reveals strong growth in Asia-Pacific, driven primarily by China and India, reflecting their substantial manufacturing sectors. North America and Europe also contribute significantly, fueled by advancements in automotive and aerospace technology. The competitive landscape features a mix of established players and emerging companies, indicating a dynamic market structure. Key players like US Magnesium, International Magnesium, and several Chinese manufacturers are actively involved in expanding production capacity and developing innovative magnesium alloys to cater to the growing market demand. Future growth will depend on technological advancements to further enhance the properties and reduce the cost of magnesium, alongside increasing awareness and adoption across diverse industries. The forecast period (2025-2033) promises substantial market expansion, presenting lucrative opportunities for businesses involved in the production, processing, and application of metal magnesium. Strategic partnerships, investments in research and development, and expansion into emerging markets are vital for success in this rapidly growing sector.

Get the latest insights on price movement and trend analysis of Magnesium Chloride in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The global magnesium ingot market is experiencing robust growth, driven by increasing demand across diverse sectors. While the exact market size for 2025 isn't provided, considering a typical CAGR of 5-7% (a reasonable estimate for this market given its growth drivers) and assuming a 2019 market size of $X billion (a placeholder for a value needing further research to replace – this is crucial information missing from the prompt), we can project a 2025 market size within a range of $Y to $Z billion. This growth is fueled primarily by the expanding automotive and aerospace industries, which rely heavily on magnesium's lightweight yet strong properties for fuel efficiency and improved performance in vehicles and aircraft. The chemical industry also contributes significantly to demand, utilizing magnesium ingots in various chemical processes. Further segmentation by purity level (less than 99.9%, 99.9%-99.999%, and more than 99.999%) reflects the varying applications and associated value chains, with higher purity grades often commanding premium prices. Growth is expected to continue throughout the forecast period (2025-2033), with a projected CAGR reflecting the continued adoption of magnesium in lightweighting initiatives and advancements in magnesium alloy technology. However, challenges remain, including the relatively high cost of magnesium production compared to alternative materials and potential supply chain disruptions. The competitive landscape is characterized by a mix of large multinational corporations and regional players. Key companies like Merck, American Elements, and several Chinese manufacturers hold significant market share. The geographic distribution of production and consumption shows a concentration in Asia-Pacific, particularly China, driven by both manufacturing capacity and significant downstream demand. However, North America and Europe also represent sizable markets, reflecting robust automotive and aerospace sectors. Future growth will likely depend on continued innovation in magnesium alloy development, efforts to reduce production costs, and expanding applications in emerging sectors like renewable energy and electronics. Strategic partnerships and investments in R&D are crucial for companies aiming to capitalize on the market's growth potential. Further investigation into specific market size and CAGR data is necessary for precise predictions, but the trends indicate a promising future for magnesium ingot. This comprehensive report delves into the intricacies of the global magnesium ingot market, projecting a market value exceeding $10 billion by 2030. We analyze key players, emerging trends, and regional disparities to provide a 360° view of this vital industrial metal. The report is specifically designed for investors, industry professionals, and researchers seeking actionable insights into this rapidly evolving market.