Metal Magnesium Market Report 2026

The metal magnesium market size has grown strongly in recent years. It will grow from $4.87 billion in 2025 to $5.21 billion in 2026 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to growth of automotive lightweighting initiatives, increasing use of magnesium in aluminum alloys, expansion of iron and steel manufacturing, rising demand from consumer electronics, growth of fireworks and pyrotechnics applications.

The metal magnesium market size is expected to see strong growth in the next few years. It will grow to $6.73 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increase in electric vehicle production, growing aerospace demand for lightweight alloys, rising adoption of magnesium recycling processes, expansion of die casting applications, increasing focus on emission reduction and fuel efficiency. Major trends in the forecast period include rising demand for lightweight structural metals, growing use of magnesium in automotive die casting, increasing adoption of magnesium alloys in electronics, expansion of magnesium use in iron and steel desulfurization, rising focus on recycling and secondary magnesium production.

The rising demand for electronic devices and appliances is fueling the expansion of the metal magnesium market. Electronic devices are machines that utilize electrical circuits to perform specific functions, including computers, smartphones, and televisions. Metal magnesium is employed in consumer electronics mainly for the production of devices such as laptops, cameras, and smartphones, as it helps reduce weight while preserving durability and structural strength. For example, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade organization, total electronic equipment production in Japan amounted to $52,36,535 million (¥771,457 million). Additionally, consumer electronics production reached $2.17 trillion (¥32,099 million) in May 2023, up from $1.71 trillion (¥25,268 million) in May 2022. Consequently, the increasing demand for electronic devices and appliances is expected to drive higher revenues for the metal magnesium market.

The strategic partnership is an emerging trend gaining traction in the metal magnesium market. Numerous companies in the metal magnesium market, along with researchers and academic institutions, are forming partnerships for the research and development of metal magnesium. These collaborations create synergies between the parties and lead to new metal magnesium products with multiple advantages. Such partnerships allow metal magnesium companies to innovate and reinforce their market position. For example, in January 2023, Alliance Magnesium Inc., a Canada-based manufacturer of magnesium products and critical minerals, collaborated with Triple M Metal, a Canada-based metal recycling firm, to enhance magnesium metal recycling at Alliance’s Danville foundry. The strategic partnership will leverage Triple M's global networks and capabilities to boost sourcing for Alliance's existing recycling operations while also expanding Triple M's product offerings and services to its clients. This strategic partnership supports Alliance's goal of becoming a key local supplier of essential minerals to the North American market while promoting the circular economy.

In January 2023, Magnesium Capital LLP, a UK-based investment firm focused on investing in companies engaged in the energy transition, acquired SCADA for an undisclosed amount. This acquisition is intended to enhance Magnesium Capital's presence in the renewable energy sector and utilize SCADA International's expertise to promote growth and innovation. SCADA is a US-based company that offers software and control solutions for power plants, especially those in the renewable energy field.

Major companies operating in the metal magnesium market report are US Magnesium LLC, Alliance Magnesium Inc., Western Magnesium Corporation, Latrobe Magnesium Ltd., Dead Sea Magnesium Ltd., Solikamsk Magnesium Works OAO, Nanjing Yunhai Special Metals Co. Ltd., Wenxi YinGuang Magnesium Industry Co. Ltd., Taiyuan Tongxiang Magnesium Co. Ltd., Shanxi Bada Magnesium Co. Ltd., Shanxi Shuifa Zhenxin Magnesium Industry Co. Ltd., Qinghai West Magnesium Mining Co. Ltd., China Magnesium Corporation, Fu Gu Yi De Magnesium Alloy Co. Ltd., Nantong Changhai Magnesium Alloy Co. Ltd., Baoji Yuhang Nonferrous Metal Co. Ltd., American Magnesium LLC, Magontec Ltd., Shanghai Sunglow Investment (Group) Co. Ltd., Metallic Corporation of India, Jayesh Industries Ltd., Esan Eczacibasi Holding A.S.

Asia-Pacific was the largest region in the metal magnesium market in 2025. The regions covered in the metal magnesium market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal magnesium market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The metal magnesium market consists of sales of magnesium carbonate, magnesium chloride, and magnesium citrate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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