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 application in the