Market Research Report
Magnesium Metal: Global Industry Markets and Outlook
|Published by||Roskill Information Services||Product code||295005|
|Published||Content info||320 Pages, 123 Tables and 87 Figures
Delivery time: 1-2 business days
|Magnesium Metal: Global Industry Markets and Outlook|
|Published: June 7, 2016||Content info: 320 Pages, 123 Tables and 87 Figures||
In the first quarter of 2016 the six-year decline in magnesium prices appeared to have found a floor at US$2,000/t, underpinned by production costs in China where almost 80% of global magnesium is produced. Resistance from producers coupled with firming coal prices and better than expected performance in the Chinese economy helped push the price up 11% by April 2016 after prices moved below the US$2,000/t level at the end of 2015.
The exceptions to Chinese domination are the USA, where the market is protected by punitive anti-dumping duties and is supplied by domestic primary and secondary production and some small imports mainly from Israel; and the FSU where there is domestic output primarily for the in-house production of titanium sponge. New sources of supply have seen limited success in getting to market due to the low price and financing climate, but a small new Turkish producer is starting in 2016. Magnesium's main markets are in aluminium alloys and in magnesium alloy die castings used largely in the automobile industry. Both markets are expected to grow at about 4%py in the medium term.
The development of the dispersion of silicon carbide nanoparticles in magnesium could have a significant long term impact. The material is said to provide an enhancement of strength, stiffness, plasticity and high-temperature stability, which delivers a higher specific yield strength and specific modulus than nearly all structural metals.
Another potentially significant new use in the long term is in magnesium-ion rechargeable batteries that have twice the capacity and energy density of lithium ion batteries. The identification by Toyota of a compatible electrolyte was being hailed as a major breakthrough in mid-2016.