According to Cognitive Market Research, the global Magnesium Alloys market size is USD 2545.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 1018.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 763.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 585.40million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 127.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 50.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The Cast Alloys held the highest Magnesium Alloys market revenue share in 2024.
