Pacific Aerospace Magnesium Alloys Market Size, Share 2024

The Asia Pacific Aerospace Magnesium Alloys market size was valued at US$ 213.7 million in 2024 and is projected to reach US$ 298.6 million by 2030, at a CAGR of 5.7% during the forecast period 2024-2030.

Aerospace magnesium alloys are lightweight, high-strength materials used in aircraft and spacecraft components, offering significant weight reduction and fuel efficiency benefits in aerospace applications.

The Asia Pacific aerospace magnesium alloys market is growing steadily, driven by the region's expanding aerospace industry and focus on lightweight materials. China leads with a 40% market share, followed by Japan at 25% and South Korea at 20%. In 2023, commercial aircraft consumed 55% of total production, with military aerospace at 30% and space applications at 10%. The market experienced an 8% growth in demand for high-performance magnesium-lithium alloys. Key players include Magnesium Elektron (UK) and Luxfer MEL Technologies (USA), collectively holding a 45% market share in the region. The industry is investing in advanced alloy development, with a 12% increase in R&D spending on corrosion-resistant formulations in 2023. Challenges include competition from composite materials and concerns over magnesium's flammability, leading to a 7% focus on developing fire-retardant magnesium alloys. The trend towards electric aircraft has driven a 15% increase in magnesium alloy use for battery casings and structural components. The market is benefiting from the growth of the regional jet market in Asia, with a 20% rise in magnesium alloy demand for interior components in narrow-body aircraft.

Report Includes

This report is an essential reference for who looks for detailed information on Asia Pacific Aerospace Magnesium Alloys. The report covers data on Asia Pacific markets including historical and future trends for supply, market size, prices, trading, competition and value chain as well as Asia Pacific major vendors¡¯ information. In addition to the data part, the report also provides overview of Aerospace Magnesium Alloys, including classification, application, manufacturing technology, industry chain analysis and latest market dynamics. Finally, a customization report in order to meet user's requirements is also available.

This report aims to provide a comprehensive presentation of the Asia Pacific Aerospace Magnesium Alloys, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Aerospace Magnesium Alloys. This report contains market size and forecasts of Aerospace Magnesium Alloys in Asia Pacific, including the following market information:

We surveyed the Aerospace Magnesium Alloys manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

by Country

•    China

•    India

•    Japan

•    South Korea

•    Australia

•    Thailand

•    Indonesia

by Products type:

•    Casting Alloys

•    Wrought Alloys

by Application:

•    Commercial

•    Military

key players include: (At least 8-10 companies included)

•    VSMPO-AVISMA Corporation

•    Fushun Aluminium Co. Ltd.

•    Xi