MARKETING RESEARCH OF THE GLOBAL MAGNESIUM MARKET

Abstract

Due to its unique physical, chemical, mechanical and biological properties, magnesium is widely used in many industries, in particular, in the automotive industry, aerospace and defense industry, construction, medicine and healthcare, food industry, electrical engineering and electronics. The industry of production and use of magnesium is constantly developing, is engaged in the search for new modern methods of obtaining magnesium and its compounds, which find new promising applications.The magnesium market covers the search for new sources of magnesium-containing raw materials, the development of new technologies for obtaining magnesium, research into the properties of new magnesium-containing materials and the possibilities of their use. In 2024, the volume of the global magnesium market was estimated at 5.62 billion USD and, according to forecasts, is expected to grow to 5.92 billion USD in 2025 and to 9.50 billion USD by 2026. by 2034 with a compound annual growth rate of 5.39% from 2025 to 2034.The global magnesium market was studied and factors of positive and negative impact on it were identified. According to the segmentation of the global magnesium market by type of production process, the leading position in 2022 was occupied by the thermal reduction of magnesium oxide with silicon with a share of 80%; by product composition in 2023 – the segment of metallic magnesium (39.2%); by geographical regions in 2024 – the segment of the Asia-Pacific region (35%); by application in 2024 – the segment of aluminum alloys (34%); by industry in 2022 – the segment of the automotive industry (38%). The main strategic trends and directions of further development of the global magnesium market are presented.