Magnesium traded flat at 18,100 CNY/T on August 7, 2025. Over the past month, Magnesium's price has risen 4.93%, but it is still 3.21% 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.

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).

Why did the Magnesium Powder Price Change in July 2025? In June 2025, the Magnesium Powder Spot Price for Magnesium Oxide CFR Texas surged by 12.12% to USD 370/MT, driven by aggressive domestic procurement from animal feed and food additive sectors amid tight stock positions.

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 Sulfate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The global magnesium metal market is estimated to be valued at USD 5.89 billion in 2025 and is projected to reach approximately USD 10.0 billion by 2035, expanding at a compound annual growth rate (CAGR) of 5.4% during the forecast period.

Attributes	Description
Estimated Global Industry Size (2025E)	USD 5.89 billion
Projected Global Value (2035F)	USD 10.0 billion
Value-based CAGR (2025 to 2035)	5.4%

Magnesium Metal Market Analysis 2025 to 2035

Countries	CAGR (2025 to 2035)
USA	5.8%
UK	4.9%
France	5.1%
Germany	5.3%
Italy	4.7%
South Korea	6.2%
Japan	5.6%
China	7.4%
Australia	4.6%
New Zealand	4.2%

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 Q1 2025, the North American Magnesium Sulphate market witnessed a mixed price trend, shaped by global supply fluctuations, trade policy uncertainty, and shifting downstream sector dynamics. The quarter opened with marginal price growth amid steady demand from the pharmaceutical and cosmetics industries and tight feedstock Sulphuric Acid supply, driven by robust fertilizer demand.

Why did the Magnesium Chloride Price Change in July 2025? The Magnesium Chloride Spot Price in USA increased by 2.3% in Q2 2025, with the Price Index strengthening toward the end of the quarter.

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.

The Report Profiles Largest Magnesium Producing Companies and the Market is segmented by end-user industry (aluminum alloys, die-casting, iron and steel, metal reduction, and other end-user industries) and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers market size and forecasts for the Metal Magnesium Market in volume (kilo tons) for all the above segments.

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).

Snapshot img

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?

Request Free Sample

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.

Get a glance at the market report of share of various segments Request Free Sample

The die castings segment was valued at USD 2.28 bil

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).

Why did the Magnesium Stearate Price Change in July 2025? The Magnesium Stearate Spot Price averaged USD 2240/MT in June 2025 and reflected a mild Q2 price erosion of 0.67%. The price fluctuation was driven by subdued demand and elevated inventory levels across nutraceutical and personal care segments.

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

Why did the Magnesium Hydroxide Price Change in July 2025? The Magnesium Hydroxide Price Index USP in the United States rose in July 2025, ending the soft trend observed in Q2.

In 2024, the Australian magnesium market decreased by -29.7% to $2.9M, falling for the second consecutive year after two years of growth. Overall, consumption saw a deep reduction. Magnesium consumption peaked at $22M in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

Magnesium Market Outlook

The magnesium market size was valued at approximately USD 4.5 billion in 2023 and is projected to reach around USD 8.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period. This robust growth is primarily driven by the increasing demand for lightweight materials in various industries, especially automotive and aerospace, where magnesium's strength and light weight provide significant advantages. Additionally, the growing application of magnesium in the electronics and healthcare sectors further propels the market forward. The expansion of manufacturing activities worldwide, alongside advancements in magnesium production technologies, also contribute significantly to the market's growth trajectory.

One of the key growth factors for the magnesium market is the rising emphasis on fuel efficiency and emission reduction in the automotive and aerospace industries. Magnesium, being one of the lightest structural metals, is highly sought after for producing components that enhance fuel efficiency without compromising strength and durability. As governments worldwide implement stricter regulations on emissions, the need for lighter vehicles and aircraft has surged, positioning magnesium as an essential material in the engineering and manufacturing processes of these industries. The continuous innovation in alloy development also boosts magnesiumÂ’s adoption, as companies strive to balance cost, weight, and performance.

Another significant factor contributing to the growth of the magnesium market is its increasing use in the electronics industry. Magnesium alloys are widely used in the production of electronic devices such as laptops, smartphones, and tablets due to their excellent strength-to-weight ratio, thermal conductivity, and electromagnetic shielding properties. As the demand for compact and lightweight consumer electronics continues to rise, the incorporation of magnesium in electronic components is expected to surge. Moreover, with the advent of technologies like 5G and IoT, the electronics industry is poised for rapid expansion, further driving the demand for magnesium materials.

The healthcare industry also presents substantial growth opportunities for the magnesium market. The material is increasingly used in producing medical devices and implants due to its biocompatibility and biodegradability. Magnesium-based biomaterials are gaining preference in orthopedic applications, such as bone implants and surgical screws, which naturally degrade in the body and eliminate the need for removal surgeries. With a growing aging population and increasing incidences of bone-related disorders, the demand for innovative and effective medical solutions is expected to rise, thereby boosting the application of magnesium in this sector.

Regionally, the Asia Pacific is poised to dominate the magnesium market, driven by rapid industrialization and the growth of end-user industries such as automotive, electronics, and construction in countries like China and India. North America and Europe are also significant markets, bolstered by advancements in automotive technologies and a strong focus on sustainable and environmentally-friendly materials. The Middle East & Africa and Latin America, while currently smaller markets, are expected to witness steady growth due to increasing investments in infrastructure and industrial projects. The regional outlook is further supported by favorable government policies and incentives aimed at boosting manufacturing capabilities and material innovation.

Product Type Analysis

The magnesium market is segmented by product type into magnesium oxide, magnesium carbonate, magnesium hydroxide, magnesium sulfate, and others. Magnesium oxide holds a significant share in this market due to its extensive application in refractory materials, which are critical in steel production and other high-temperature industrial processes. This type of magnesium is also used in agriculture as a soil conditioner, further driving its demand. The continuous growth of the construction sector, especially in emerging markets, reinforces the demand for magnesium oxide due to its properties such as fire resistance and strength enhancement in construction materials.

Magnesium carbonate is another vital segment, primarily used in the production of refractory bricks and as a drying agent for industrial applications. Its application in pharmaceuticals as an antacid and dietary supplement also contributes to its market growth. The rising health consciousness and increasing demand for health suppleme