Magnesium Market Growth Driven by Strong Demand from Alloys Industries, Projected to Reach $7.45 Billion by 2031
• Global magnesium market to reach $7.45 billion by 2031, growing at a 9.3% CAGR • Increasing demand from aluminum and steel alloy industries driving growth • Asia Pacific dominated market share in 2022 with over 45% revenue • Die casting is largest application segment due to magnesium's thermal stability • Aluminum alloy segment to see significant growth due to rising beverage bottle production