Magnesium traded flat at 18,150 CNY/T on August 1, 2025. Over the past month, Magnesium's price has risen 5.52%, but it is still 3.46% 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.

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.

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...

Why did the Magnesium Alloy Ingot Price Change in July 2025? The Magnesium Alloy Ingot Price Index in North America fell by 11.2% quarter-over-quarter in Q2 2025, reflecting a sustained surplus in market availability.

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.

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 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.

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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

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.

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).

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

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.

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.

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).

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).

Graph and download economic data for Producer Price Index by Commodity: Nonmetallic Mineral Products: Nonclay Refractories (Excluding Dead-Burned Magnesia) (WPU135301) from Jan 1975 to Jun 2025 about nonmetallic, minerals, commodities, PPI, inflation, price index, indexes, price, and USA.

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