Magnesium Alloys Market: Introduction
The mixture of magnesium with other metal such as aluminum, zinc, copper called are known as Magnesium Alloys. Magnesium is an abundantly found element, and is primarily found on the ocean bed surface in the form of minerals. Magnesium is lightest structural material having density of 1.74 g/cm, and alloying of magnesium with metal increases the hardness, cast-ability and strength while having negligible effect on density. Aluminum is mostly used as an alloying metal with magnesium. Magnesium Alloys have properties such as light weight, thermal conductivity, strength, durability, corrosion resistance and high temperature creep.
Some of various type Magnesium Alloys are as follow:
- Magnesium- aluminum-manganese
- Magnesium- zinc-aluminum
- Magnesium- zirconium
Magnesium Alloys have a wide range of application in electronic, automation, medical and aerospace industry. As Magnesium Alloys are very lightweight in nature, they are used as a replacement of plastics in electronic applications. Magnesium Alloys also find applications in cell phones, electronic packaging, hard drive arms and media housings.
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Designers mostly use Magnesium Alloys due to their low density. Magnesium Alloys are used in castings and wrought products. Magnesium Alloys have an excellent shielding property and provide protection from electromagnetic waves. Also Magnesium Alloys are environment-friendly as they are recyclable. Magnesium Alloys are used in the manufacturing of portable medical equipment, wheel chairs, due to light weight property.
Various casting process are employed for casting of Magnesium Alloys such as high pressure die casting, permanent mold casting, thin-wall die casting, etc. The high pressure die casting is one of the most commonly used process for casting of Magnesium Alloys.
Magnesium Alloys Market: Dynamics
The increasing demand of light weight components in an Aerospace & Defense sector is a key driver of the Magnesium Alloys market. Magnesium Alloys are used in manufacturing of helicopter transmission casings, aircraft engine, gearbox casings, turbine engines, jet engine fan frames, spacecraft, and missiles. Likewise increasing spending of developing as well as developed countries on the defense sector and demand of commercial aircrafts is driving the demand of Magnesium Alloys market.
Another most important driver is automotive industry because owing to the increasing requirement of light weight components in vehicle interior, exterior, powertrain and chassis & also in racing vehicles, bicycles. Magnesium Alloys reduces weight, leads to improve the performance of a vehicle, decrease fuel consumption and environmental pollution, therefore the demand for Magnesium Alloys in automotive industry is accelerating.
Magnesium Alloys have extensive application in manufacturing of medical equipment such as portable medical equipment and wheelchairs due to its light weight, bio-compatibility and bio-absorbability. There are other application like electronics, sporting goods, nuclear, flares, sacrificial anodes for the protection of other metals, flash photography and tools manufacturing which help drive the Magnesium Alloys market. The growing cost of high-pressure die casting process in Magnesium Alloys manufacturing and use of substitutes for sheet production such as rare earth elements, may restrain the market growth of Magnesium Alloys.
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