The Upgrading Process of Magnesium Alloy Industry in China's Manufacturing Industry

Thanks to the transformation and upgrading of China's automotive industry and 3C industries, as well as the significant improvement of China's economic status, the magnesium alloy industry has made the market optimistic. Among them, the lightweight and environmentally friendly demands of the automotive industry, especially the development of new energy vehicles, as well as the continuous progress of magnesium alloy research and development technology and recycling technology, will be good news for promoting the widespread application of magnesium alloys.

In 2015, the domestic magnesium alloy used in automobiles will reach 68kg/vehicle, while during the same period, China's automobile sales will exceed 28 million vehicles, and passenger car sales will reach 19.6 million vehicles. Through industrial mergers, technological research and development, and market channel expansion, independent brand automobile enterprises will achieve sales exceeding 10 million vehicles.

At the same time, the application of magnesium alloys in pharmaceutical, chemical and aerospace industries will also grow. Due to the steady growth of the downstream terminal automotive consumer market, it is expected that the global magnesium alloy market will reach 6 million tons in 2015, with a compound annual growth rate (CAGR) of 20% -25% (including applications of magnesium alloys in transportation, 3C, aerospace, and pharmaceutical chemical industries).

In addition, as a sub industry of the non-ferrous metal alloy industry, the magnesium alloy industry has benefited from the upgrading process of China's manufacturing industry. As a capital and material intensive industry, the stability and lower level of raw material prices, the integration and concentration of the casting industry, and the progress of technological research and development will all be more conducive to the development of the magnesium alloy industry, and the market is relatively promising.