Magnesium fell to 16,950 CNY/T on December 3, 2025, down 0.29% from the previous day. Over the past month, Magnesium's price has fallen 1.17%, and is down 1.45% compared to the same time last year, 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.

Explore the 2023 trends influencing magnesium metal prices, driven by global economic factors, supply chain disruptions, environmental regulations in China, energy costs, and increasing demand in green technologies. Understand how these dynamics affect market stability and price volatility.

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%

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

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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 billion i

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.

The magnesium metal market is experiencing robust growth, driven by increasing demand across diverse sectors. While precise market size figures for the base year (2025) are not provided, let's assume a market value of $5 billion for 2025, based on typical market sizes for industrial metals and considering the CAGR. This assumption is supported by the presence of several major players like US Magnesium, POSCO, and others, indicating a substantial market. Key drivers include the rising adoption of magnesium alloys in the automotive industry for lightweighting initiatives aimed at improving fuel efficiency and reducing emissions. The construction industry's growing use of magnesium in lightweight building materials also contributes significantly to market expansion. Furthermore, advancements in magnesium extraction and processing techniques are enhancing the cost-effectiveness and efficiency of production, leading to increased market penetration. Trends such as the increasing focus on sustainability and the development of novel magnesium-based alloys are further bolstering market growth. However, restraints such as the relatively high cost of production compared to other metals and potential environmental concerns related to magnesium extraction need to be considered. The market segmentation likely includes various magnesium grades (pure magnesium, alloys), applications (automotive, construction, electronics), and geographic regions. The forecast period (2025-2033) suggests a continued positive growth trajectory. Assuming a CAGR of, for example, 6% (this is a reasonable estimate for a growing industrial metal market), the market value could reach approximately $8 billion by 2033. Regional analysis will likely reveal variations in market share depending on factors such as industrial development, government policies, and the presence of key players. North America and Asia, particularly China, are anticipated to hold significant market shares due to large automotive and construction sectors. Competitive analysis will show that established players are vying for market share through technological innovation, capacity expansion, and strategic partnerships. The ongoing research and development of new magnesium alloys with enhanced properties will further shape the market landscape in the coming years. Successful entrants will need to address cost competitiveness and sustainability concerns effectively.

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

Magnesium Metal Market Outlook

According to our latest research, the Global Magnesium Metal market size was valued at $4.2 billion in 2024 and is projected to reach $7.6 billion by 2033, expanding at a robust CAGR of 6.7% during the forecast period of 2025–2033. The primary factor driving the growth of the global magnesium metal market is the increasing demand for lightweight materials across various industries, particularly within the automotive and aerospace sectors. Magnesium metal, known for its low density and high strength-to-weight ratio, is increasingly being adopted as a substitute for heavier metals such as steel and aluminum, enabling manufacturers to enhance fuel efficiency and reduce emissions. This shift is further propelled by stringent regulatory standards on vehicle emissions and the ongoing push for energy-efficient solutions, making magnesium metal a critical material in the global transition toward sustainability and advanced manufacturing.

Regional Outlook

The Asia Pacific region commands the largest share of the global magnesium metal market, accounting for over 45% of total market revenue in 2024. This dominance is primarily attributed to the region’s robust industrial base, burgeoning automotive manufacturing sector, and the presence of leading electronics and aerospace companies. China, as the world’s largest producer and consumer of magnesium metal, significantly influences regional dynamics through its vertically integrated supply chains and favorable government policies supporting non-ferrous metal industries. Additionally, ongoing investments in infrastructure, coupled with the rapid expansion of electric vehicle (EV) production, have cemented Asia Pacific as the epicenter for magnesium metal demand and innovation. The region’s mature market ecosystem, advanced technological capabilities, and cost-competitive manufacturing further reinforce its leadership position in the global magnesium metal landscape.

In contrast, North America is emerging as the fastest-growing region in the magnesium metal market, projected to register a CAGR of 8.2% through 2033. The region’s accelerated growth is underpinned by substantial investments in aerospace, automotive, and defense sectors, which are increasingly prioritizing lightweight and high-performance materials. The United States, in particular, is witnessing a surge in demand for magnesium alloys in automotive lightweighting initiatives, driven by stringent Corporate Average Fuel Economy (CAFE) standards and the growing penetration of electric vehicles. Furthermore, North American manufacturers are actively investing in research and development to enhance the recyclability and corrosion resistance of magnesium products, while strategic partnerships with global suppliers are helping to mitigate raw material supply risks. These factors collectively position North America as a dynamic growth engine within the global magnesium metal market.

Meanwhile, emerging economies in Latin America and the Middle East & Africa are experiencing gradual but steady adoption of magnesium metal, primarily fueled by industrialization, infrastructure development, and rising consumer goods manufacturing. However, these regions face unique challenges, including limited domestic production capabilities, high import dependence, and fluctuating raw material prices, which can constrain market growth. Additionally, inconsistent regulatory frameworks and limited access to advanced manufacturing technologies hamper the scalability of magnesium metal applications. Nevertheless, as governments in these regions increasingly recognize the strategic importance of lightweight materials for economic development, targeted policy reforms and foreign direct investments are expected to gradually unlock new growth avenues for the magnesium metal market.

Report Scope

Attributes	Details
Report Title	Magnesium Metal Market Research Report 2033
By Product Type	Pure Magnesium, Alloyed Magnesium
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Metal Magnesium Market Outlook

The global metal magnesium market size was valued at approximately USD 4.2 billion in 2023 and is projected to reach around USD 7.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.1% during the forecast period. This growth is driven primarily by the increasing demand for lightweight materials in various industries, particularly in the automotive and aerospace sectors, which seek to enhance fuel efficiency and reduce emissions.

One of the primary growth drivers of the metal magnesium market is its rising application in the automotive industry. As governments worldwide implement stringent emission regulations, automakers are increasingly turning to lightweight materials like magnesium alloys to meet fuel efficiency standards. MagnesiumÂ’s high strength-to-weight ratio makes it an ideal substitute for traditional steel and aluminum, thereby playing a crucial role in reducing the overall weight of vehicles. This shift is expected to significantly propel the demand for metal magnesium over the coming years.

Another significant driver is the growing use of magnesium in the aerospace industry. The aerospace sector continuously seeks performance improvements, and using magnesium alloys is one way to achieve this. These alloys offer excellent mechanical properties, corrosion resistance, and reduced weight, making them suitable for various aerospace applications, including aircraft frames and engine components. The increase in air travel and the production of new aircraft models further amplify the demand for magnesium.

The electronics industry also contributes to the growth of the metal magnesium market. Magnesium alloys are increasingly used in the production of electronic devices due to their excellent electromagnetic shielding properties, light weight, and durability. These properties make them suitable for manufacturing components such as laptop frames, mobile phone casings, and other consumer electronics. As the demand for portable and compact electronic devices continues to rise, so does the requirement for magnesium alloys.

The sourcing of Magnesium Raw Materials is a critical aspect of the metal magnesium market. These raw materials are primarily derived from natural sources such as dolomite and magnesite, which are abundant in certain regions of the world. The extraction and processing of these raw materials require specialized techniques to ensure high purity and quality, which are essential for producing magnesium alloys. The availability and cost of magnesium raw materials can significantly impact the production costs and pricing of magnesium products. As the demand for magnesium continues to rise, the industry is exploring more sustainable and efficient methods of sourcing and processing these raw materials to meet the growing needs of various sectors.

Regionally, Asia Pacific holds the largest share in the metal magnesium market, driven by the rapid industrialization and urbanization in countries like China and India. The presence of major automotive and electronics manufacturing hubs in this region further bolsters the demand for magnesium. North America and Europe also contribute significantly to the market revenue, particularly due to the robust aerospace and automotive industries. Additionally, the Middle East & Africa, and Latin America are emerging markets, showing promising growth due to ongoing infrastructure development projects and increasing industrial activities.

Form Analysis

The metal magnesium market by form includes segments such as ingot, powder, granules, and others. The ingot form holds the largest market share due to its widespread applications across various industries. Magnesium ingots are primarily used in the production of alloys, which are then utilized in automotive and aerospace components. The ease of handling and melting of ingots makes them a preferred choice for manufacturers. The demand for ingots is expected to continue growing, driven by the increasing production of lightweight alloys.

Magnesium powder is another significant segment, finding extensive use in the pyrotechnics industry and as a reducing agent in the production of titanium. Its fine particle size and high reactivity make it suitable for these applications. Additionally, magnesium powder is used in the manufacturing of brake linings, fertilizers, and various chemical processes. The growing demand for fireworks and titanium production i

61 Global import shipment records of Magnesium Metal with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

The size of the Metal Magnesium Market was valued at USD 5.3 Billion in 2023 and is projected to reach USD 8.9 Billion by 2032, with an expected CAGR of 5.4% during the forecast period. Recent developments include: February 2023: Western Magnesium Corporation announced its plan to build a new production facility for magnesium metal with an initial annual capacity of 25,000 metric tons and a new research and development center in Nevada. With the help of this new production facility, the company aims to serve automotive, aerospace, airline, eco-friendly technology companies, and Defense Contractors through this expansion., July 2022: Chongqing Boao Magnesium-Aluminum Metal Manufacturing Co. Ltd (a wholly owned subsidiary of RSM Group/ Nanjing Yunhai Special Metals Co. Ltd) announced the completion of a high-performance magnesium-aluminum alloy and deep processing project (Phase II project) located in Pingshan Industrial Park, Chongqing City. The new production facilities could have various workshops, including a magnesium particle production workshop with a 7,200 tons/year capacity.. Key drivers for this market are: Growing Demand for Alloying with Other Metals, Increasing Demand for Lightweight Materials in the Aerospace and Automotive Industry. Potential restraints include: Fluctuation in Prices of Metal. Notable trends are: Increasing Usage in the Production of Aluminum Alloys.

Discover the booming Metal Magnesium Market! Explore a comprehensive analysis of market size ($7446.7M in 2025), CAGR, key drivers (automotive, aerospace), regional trends, and leading companies. Forecast to 2033.

The global primary magnesium ingot market is experiencing robust growth, driven by increasing demand from diverse sectors. While precise figures for market size and CAGR are unavailable, industry analysis suggests a significant market value, potentially exceeding several billion dollars in 2025, based on observed growth trajectories in related metal markets. This expansion is fueled by the lightweight nature of magnesium, making it ideal for automotive, aerospace, and electronics applications, particularly as the push for lightweight vehicles and energy-efficient electronics intensifies. Furthermore, growing construction and industrial applications, alongside ongoing advancements in magnesium alloy technology leading to improved strength and corrosion resistance, are contributing significantly to the market's upward trajectory. The study period of 2019-2033 indicates a long-term positive outlook, with consistent growth projected well into the future. However, the market faces challenges. Fluctuations in raw material prices, particularly electricity costs, directly impact magnesium production costs and profitability. Environmental concerns regarding magnesium production processes also present potential restraints. Competition among established players like HMC, Crown Light Metal, US Magnesium, Bada Magnesium, Tianyu Magnesium, Tianlong Magnesium, Regal Metal, Xintian Magnesium, and Jingfu Coal Chemical is fierce, requiring ongoing innovation and cost optimization for sustained success. Regional variations in market demand and regulatory environments further influence market dynamics, with certain regions exhibiting faster growth rates than others. Future growth will likely be influenced by government policies promoting sustainable materials, technological breakthroughs in magnesium alloy development, and the overall macroeconomic climate.

The global primary magnesium ingot market is experiencing robust growth, driven by increasing demand from diverse sectors. While precise figures for market size and CAGR are absent from the provided data, we can make reasonable estimations based on industry trends. Considering the presence of major players like HMC, Crown Light Metal, and US Magnesium, along with significant activity in regions like North America and Asia, a conservative estimate for the 2025 market size could be in the range of $5 to $7 billion USD. A projected CAGR of 5-7% for the forecast period (2025-2033) seems plausible, reflecting steady growth fueled by automotive lightweighting initiatives, advancements in electronics manufacturing, and the expanding construction sector. These factors are significantly driving the demand for magnesium ingots due to its lightweight yet strong properties, making it a preferred material in various applications. The market's growth trajectory is shaped by several key factors. Rising demand for lightweight materials in the automotive industry, particularly in electric vehicles, is a major driver. Furthermore, the increasing use of magnesium alloys in consumer electronics, aerospace components, and biomedical applications contributes to market expansion. However, price volatility of raw materials and the environmental concerns associated with magnesium production present potential restraints. Despite these challenges, ongoing technological advancements in production processes, along with a focus on sustainability, are likely to mitigate these risks and support continued market growth. The segmentation of the market (although not specified) likely includes different grades and purities of magnesium ingots, catering to various industry-specific applications. Competitive landscape analysis reveals the presence of both established international players and significant regional producers, indicating a dynamic and competitive market environment.

United States EP: MQ: MG: Metal Ore: Copper, Nickel, Lead & Zinc, 6 Digit data was reported at 111.600 Dec2023=100 in Mar 2025. This records a decrease from the previous number of 113.600 Dec2023=100 for Feb 2025. United States EP: MQ: MG: Metal Ore: Copper, Nickel, Lead & Zinc, 6 Digit data is updated monthly, averaging 111.250 Dec2023=100 from Dec 2023 (Median) to Mar 2025, with 16 observations. The data reached an all-time high of 117.400 Dec2023=100 in May 2024 and a record low of 97.900 Dec2023=100 in Feb 2024. United States EP: MQ: MG: Metal Ore: Copper, Nickel, Lead & Zinc, 6 Digit data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.JA118: Export Price Index: by NAICS.

805 Global export shipment records of Magnesium Metal with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

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.

The global magnesium-aluminum alloy market is experiencing robust growth, driven by increasing demand across diverse sectors. While precise market size figures for 2025 aren't provided, based on industry reports and average growth trends in comparable lightweight metal alloys, a reasonable estimate for the 2025 market size could be placed at approximately $2.5 billion USD. Assuming a conservative Compound Annual Growth Rate (CAGR) of 7% (a figure supported by the growth of related materials), the market is projected to reach approximately $4.2 billion by 2033. This growth is fueled primarily by the automotive and 3C (computer, communication, and consumer electronics) industries' increasing adoption of lightweight materials for enhanced fuel efficiency and product portability. The aerospace sector also contributes significantly, favoring the alloy's high strength-to-weight ratio for aircraft components. Further growth drivers include ongoing research and development leading to improved alloy properties, including increased corrosion resistance and enhanced mechanical characteristics. This is further supported by innovations in processing techniques like extrusion which contribute to cost-efficiency and enhanced product performance. However, several factors constrain market expansion. Price volatility of raw materials, particularly magnesium and aluminum, poses a challenge. Furthermore, the manufacturing process can be complex and energy-intensive, leading to higher production costs compared to some alternative materials. Despite these challenges, the strong growth drivers within key industries and ongoing technological advancements are anticipated to outweigh these limitations, ensuring sustained market expansion over the forecast period. The market segmentation by type (rolled gold, extruded alloy) and application (3C products, automotive, aerospace) further highlights the diverse opportunities within this dynamic market. Key players such as Belmont Metals, American Elements, and Yunhai Metal are driving innovation and expansion, contributing to the overall market growth. Geographical distribution reveals strong growth potential in Asia-Pacific, driven by rapid industrialization and expanding automotive and electronics sectors.