The magnesium metal market is projected to be valued at approximately USD 5.3 billion in 2023, with expectations to reach USD 9 billion by 2033, reflecting a CAGR of 5.4% during the forecast period. A key driver of this market is the increasing adoption of magnesium in medical applications. Magnesium alloys exhibit biocompatibility, corrosion resistance, …
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Magnesium Metal Market Forecasted to Achieve USD 9 Billion by 2033, with a CAGR of 5.4% | FMI Reports
The magnesium metal market is predicted to be valued at USD 5.3 billion in 2023 and USD 9 billion by 2033. Over the projection period, sales in the magnesium metal market are expected to increase at a CAGR of 5.4%. A significant opportunity lies in the development of magnesium-based batteries. As the demand for energy storage solutions …