Dublin, Dec. 14, 2021 (GLOBE NEWSWIRE) -- The "China Automotive Magnesium Alloy Die Casting Industry Report, 2021" report has been added to ResearchAndMarkets.com's offering.
Under the general trend of automobile lightweight, the CAGR of magnesium alloy market demand reached 13.2%
The vast majority of automotive magnesium alloy parts are die casting parts, which are mainly used in housings and brackets. Magnesium alloy is a good substitute for steel and aluminum alloy, and can reduce the product weight by 25%-75%. However, the current application ratio of magnesium alloy in automobiles is much lower than that of aluminum alloy.
Magnesium alloy facilitates lightweight vehicles
Given energy saving, environmental protection and performance, lightweight vehicles have become one of the important directions for the development of the global automotive industry. In 2020, China released Energy-saving and New Energy Vehicle Technology Roadmap 2.0, putting forward lightweight requirements for all types of vehicles. In addition, major automakers have proposed goals of promoting the development of lightweight vehicles.
At present, lightweight vehicle technology is mainly divided into three types: lightweight material technology, lightweight advanced process technology, and lightweight structure optimization technology. Lightweight materials are the key to lightweight vehicles.
Magnesium alloy features low density, high strength, good heat dissipation, strong vibration resistance, noise reduction, excellent die casting performance, and outstanding cutting performance, as an ideal lightweight material. Under the trend of lightweight vehicles, the market demand for magnesium alloy will grow rapidly.
In 2015, a single car in China only used about 1.5kg of magnesium, which was far lower than the level in Europe, America, Japan and other regions. However, with the rapid development of new energy vehicles and the acceleration of the lightweight vehicle process, the amount of magnesium used in a single vehicle in China has grown rapidly, and it is estimated to reach 15kg in 2020.
As per Energy-saving and New Energy Vehicle Technology Roadmap 2.0, a single car in China will use 45kg of magnesium alloy, which will account for 4% of the total vehicle weight by 2030 when the Chinese automobile market will demand 1.31 million tons of magnesium alloy die casting parts with a CAGR of 13.2% in 2020-2030.
Wanfeng Auto Wheel leads the market amid low market concentration
At present, the global automotive magnesium alloy die casting market is highly fragmented with low market concentration The relatively large-scale companies mainly include Georg Fisher, DGS, STIHL, Wanfeng Meridian, SUNDARAM CLAYTON, Gibbs, PACE, etc.
In the short history of China's automotive magnesium alloy die casting market, there are only a few companies of a certain size, mainly including Wanfeng Auto Wheel, RSM Group, Sinyuan ZM, Eontec, Ka Shui Group, etc.
Wanfeng Auto Wheel has become a leader in the automotive magnesium alloy die casting market in China and even in the world through the acquisition of Wanfeng Meridian which was granted the Automotive Casting Excellence Award by The International Magnesium Association (IMA) for two consecutive years. Wanfeng Meridian serves not only Tesla, NIO and other new energy vehicle companies, but also traditional automakers such as Porsche, Audi, Mercedes-Benz, BMW and Volvo.
Enormous market potentials prompt companies to expand production
In view of enormous market potentials, domestic companies have invested in building or expanding automotive magnesium alloy die casting bases to meet the growing market demand. In the future, the competition in the industry will become more intense, and the automotive magnesium alloy die casting market will mature.
Key Topics Covered:
1 Overview of Magnesium Alloy Die Casting Industry
1.1 Introduction
1.2 Development History
1.3 Magnesium Alloy Industry Chain
2 Analysis on Automotive Magnesium Alloy Die Casting Industry
2.1 Lightweight Vehicles and Magnesium Alloy
2.2 Application History of Automotive Magnesium Alloy
2.3 Layout of automakers in Magnesium Alloy
2.4 Status Quo of Automotive Magnesium Alloy die casting industry
2.5 Automotive Magnesium Alloy Market Size
2.6 Competitive Landscape of Automotive Magnesium Alloy Die Casting Industry
2.7 Favorable Factors for Development of China's Automotive Magnesium Alloy Die Casting Industry
2.8 Development Trends of Automotive Magnesium Alloy Die Casting Industry
2.9 Bottlenecks and Constraints in Development of Magnesium Alloy
3 Automotive Magnesium Alloy Die Casting Companies in China
3.1 Wanfeng Auto Wheel
3.2 Sinyuan ZM
3.3 Shanghai Fenghwa Group
3.4 RSM Group
3.5 Eontec
3.6 Ka Shui Group
3.7 Dowell
3.8 FAW Foundry
3.9 AMGAIN
3.10 Waffer Technology
3.10.1 Automotive Business
3.11 Other Companies
3.11.1 Fujian Kunfu
3.11.2 Tianyu Mineral Industrial Group
3.11.3 Qinghai Salt Lake Trimag
3.11.4 Henan Magnesium Industry
3.11.5 Aotian Magnesium
3.11.6 Chongqing Yishente
3.11.7 Magic Precision
3.11.8 Catcher Technology
4 Foreign Automotive Magnesium Alloy Die Casting Companies
4.1 Georg Fischer AG (GF)
4.2 Druckguss Systeme AG (DGS)
4.3 Chicago White Metal Casting, Inc.(CWM)
4.4 ANDREAS STIHL AG & Co. KG (STIHL)
4.5 Pace Industries
4.6 ORTAL
4.7 Sandhar Group
4.8 RYOBI
4.9 Sundaram Clayton
4.10 Gibbs
4.11 Twin City
For more information about this report visit https://www.researchandmarkets.com/r/sx2h5f
