Magnesium Metal Market Expected to Hit USD 8.57 Billion by 2033, Fueled by Automotive Lightweighting and Aerospace Demand | SNS Insider
The magnesium metal market is growing due to rising adoption in automotive, aerospace, and electronics applications for lightweight and high-strength components, with the U.S. market increasing from USD 0.96 billion in 2025E to USD 1.59 billion by 2033.
Austin, Feb. 13, 2026 (GLOBE NEWSWIRE) — The Magnesium Metal Market Size is valued at USD 5.60 Billion in 2025E and is expected to reach USD 8.57 Billion by 2033 and grow at a CAGR of 5.47% during the forecast period of 2026-2033.
The Magnesium Metal Market analysis, driven by increasing demand from the automotive, aerospace, and electronics industries, where magnesium’s lightweight and high strength‑to‑weight ratio help improve fuel efficiency and performance.
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The U.S. magnesium metal market size is USD 0.96 Billion in 2025E and is expected to reach USD 1.59 Billion by 2033, growing at a CAGR of 6.50% over the forecast period.
The U.S. magnesium metal market is growing steadily due to rising demand in automotive lightweighting, aerospace, defense, and electronics industries. Adoption of high-strength, corrosion-resistant alloys, coupled with technological advancements, recycling initiatives, and industrial modernization, drives market expansion and strengthens the country’s position.
Rising Demand for Lightweight Metals in Automotive and Aerospace Industries to Augment Market Growth Globally
The increasing need for lightweight materials to boost performance in automotive and aerospace applications, lower emissions, and increase fuel efficiency is a key factor propelling the growth of the magnesium metal market. Magnesium is one of the lightest structural metals with outstanding machinability, corrosion resistance, and strength-to-weight ratio. Magnesium alloys are increasingly being used by cars and aircraft manufacturers in place of heavier metals like steel and aluminum as governments around the world impose higher fuel efficiency and emission rules. The growing popularity of electric vehicles (EVs), where weight reduction immediately increases battery efficiency and driving range, further supports this trend and raises demand for magnesium.
Segmentation Analysis:
By Product Type
In 2025, Magnesium Alloys led the market with a share of 46.80% due to their lightweight, high strength, and corrosion-resistant properties. Magnesium Compounds is the fastest-growing segment with a CAGR of 7.20% driven by rising demand in pharmaceuticals, agriculture, and chemical industries.
By Production Process
Thermal Reduction Process led the market with a share of 49.12% as it is the most established method for large-scale magnesium production. Electrolytic Process is the fastest-growing segment with a CAGR of 6.90% supported by its ability to produce high-purity magnesium efficiently.
By Form
In 2025, Ingots led the market with a share of 38.60% being the most common form for transport, storage, and industrial use. Sheets & Plates is the fastest-growing segment with a CAGR of 6.70% driven by the automotive and aerospace industries, which increasingly require lightweight, high-strength materials for structural components and body panels.
By End Use
In 2025, Automotive & Transportation led the market with a share of 44.50% as magnesium alloys and metals are extensively used for lightweight components to improve fuel efficiency and reduce emissions. Aerospace & Defense is the fastest-growing segment with a CAGR of 7.02% fueled by demand for lightweight, high-strength metals in aircraft, defense equipment, and space applications.
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Regional Insights:
The Asia Pacific dominated the magnesium metal market in 2025E, with over 48.16% revenue share, due to extensive production capacities, high demand from automotive, aerospace, electronics, and construction sectors, and abundant availability of raw materials.
The North America region is expected to have the fastest-growing CAGR 6.54%, driven by increasing adoption in automotive lightweighting, aerospace, electronics, and defense industries.
Key Players:
- China Magnesium Corporation
- US Magnesium LLC
- Magontec Limited
- RIMA Group
- Timeless Metallurgical
- Sunstone Metals
- Dead Sea Magnesium Ltd.
- AMG Advanced Metallurgical Group
- Kaiser Aluminum Corporation
- AE Magnesium Internationale GmbH
- Henan Jingu Magnesium Industry Co., Ltd.
- Jiangsu Yongxiang Magnesium Co., Ltd.
- Magnesium X Energy Corp
- Nova Magnesium Inc.
- Valdi Magnesium Ltd.
- Mg Ingots Ltd.
- SeAH Magnesium Co., Ltd.
- Eastern Magnesium Corp
- Shandong Yuyuan Industrial Co., Ltd.
- Western Magnesium Corp
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Recent Developments:
In April 2025, the International Magnesium Association (IMA) and the China Magnesium Association (representing China Magnesium Corporation interests) signed a strategic MOU partnership to share industry data, host seminars, and promote global magnesium innovation and sustainable applications.
In February 2025, Magontec held an Extraordinary General Meeting addressing its shareholder settlement with Qinghai Salt Lake Magnesium Co Ltd (QSLM) as part of ongoing strategic collaboration on magnesium alloy supply, reflecting continued corporate cooperation in the magnesium market
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