Magnesium Market Analysis and Forecast by 2027, Fortune Business Insights
The global magnesium market is set to gain traction from the increasing demand for a safer alternative to lithium-ion batteries. Fortune Business Insights™presented this information in a new report, titled, “Magnesium Market Size, Share &COVID-19 Impact Analysis, By Application (Aluminum Alloying, Die Casting, Desulfurization, Metal Reduction, and Others) and Regional Forecast, 2020-2027.” The report further states that the market size was USD 4,115.0 million in 2019 and is projected to reach USD 5,928.1 million by 2027, exhibiting a CAGR of 5.4% during the forecast period. COVID-19 Pandemic: High Demand from Beverage Can Manufacturers to Boost Growth The COVID-19 pandemic has caused an abrupt halt in supply chains, production facilities, and raw material mining across the globe. Hence, a wide range of industries are struggling to keep up with regular revenues to sustain in the market. But, the demand for magnesium is set to surge owing to itsincreasing applicatio...