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COVID-19 Pandemic Impact on Global Magnesium Market 2020-2024 | Technavio

·4-min read

Growing demand for steel will drive the market growth during the forecast period

The magnesium market is expected to grow by 390.21 k MT during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the magnesium market in optimistic, probable, and pessimistic forecast scenarios.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201029005505/en/

Technavio has announced its latest market research report titled Global Magnesium Market 2020-2024 (Graphic: Business Wire)

Enterprises will go through Response, Recovery and Renew phases. Download a Free Sample Report on COVID-19

The magnesium market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

This post-pandemic business planning research will aid clients to:

  • Adjust their strategic planning to move ahead once business stability kicks in.

  • Build Resilience by making effective resource and investment choices for individual business units, products and service lines.

  • Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure. Click here

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior

  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds

  • Pre- as well as post-COVID-19 market estimates

  • Quarterly impact analysis and updates on market estimates

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Major Three Magnesium Market Participants:

China Magnesium Corp.

China Magnesium Corp. operates its business under unified segment. The company offers magnesium and magnesium based products extracted from mines.

Israel Chemicals Ltd.

Israel Chemicals Ltd. operates its business under four segments, which include Industrial products, Potash, Phosphate, and Innovative Ag solutions. The company offers Potash and Magnesium extracts potash and salt from the Dead Sea, mines and produces potash and salt from subterranean mines in Spain and the UK, and mines and produces polysulphate from its subterranean mine in the UK.

Latrobe Magnesium Ltd.

Latrobe Magnesium Ltd. operates its business under a unified segment. The company produces magnesium metal from industrial fly ash, a waste stream from brown coal power generation.

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technvaio.com/report/magnesium-market-industry-analysis

Magnesium Market 2020-2024: Segmentation

Magnesium market is segmented as below:

  • Application

    • Aluminum Alloys

    • Die Casting

    • Titanium Refining

    • Steel Desulfurization

    • Others

  • Geography

    • APAC

    • Europe

    • North America

    • MEA

    • South America

The magnesium market is driven by growing demand for steel. In addition, other factors such as high demand for steel from various end-use industries are expected to trigger the magnesium market toward witnessing a CAGR of almost 6% during the forecast period.

Get more insights about the global trends impacting the future of magnesium market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR43562

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Competitive scenario

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201029005505/en/

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