The Global Metal Magnesium Market was valued at USD 4,304.80 million in 2023 and is projected to reach USD 8,677.29 million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 8.10% during the forecast period (2023-2032). This growth is driven by increasing demand from automotive, aerospace, and electronics industries seeking lightweight, high-strength materials.

As industries worldwide prioritize fuel efficiency and sustainability, magnesium’s exceptional strength-to-weight ratio positions it as a critical material for future manufacturing. In this analysis, we profile the Top 10 Companies in the Metal Magnesium Industry—global leaders driving innovation in lightweight materials.

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🔟 1. US Magnesium LLC

Headquarters: Salt Lake City, Utah, USA
Key Offering: Primary magnesium (99.8% pure), magnesium alloys, byproducts

North America’s sole primary magnesium producer, US Magnesium operates a state-of-the-art facility in Utah using a unique closed-loop production process. The company plays a crucial role in regional supply chains with vertically integrated operations.

Production Capacity:

• 50,000 metric tons annual output
• Closed-loop water recycling system
• Strategic OEM partnerships in automotive sector

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9️⃣ 2. China Magnesium Corporation

Headquarters: Taiyuan, Shanxi, China
Key Offering: Primary magnesium (95-99.9% purity), magnesium ingots, granules

Representing China’s dominant position in global magnesium production (~85% share), this company operates multiple facilities across Shanxi province with complete supply chain integration from mining to finished products.

Operational Highlights:

• 100,000+ tons annual production capacity
• Optimized Pidgeon process technology
• Custom alloy development capabilities

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8️⃣ 3. Dead Sea Magnesium

Headquarters: Beer-Sheva, Israel
Key Offering: High-purity magnesium (99.95%), specialty alloys

This Israel Chemicals Ltd subsidiary utilizes Dead Sea minerals to produce premium magnesium through electrolysis, differing from China’s dominant thermal reduction methods.

Differentiators:

• Environmentally friendly production process
• Ultra-high purity magnesium specialization
• Strong aerospace R&D focus

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Metal Magnesium Market – View in Detailed Research Report

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7️⃣ 4. VSMPO-AVISMA Corporation

Headquarters: Verkhnyaya Salda, Russia
Key Offering: Aerospace-grade magnesium alloys, castings

A Russian specialty metals leader supplying premium magnesium alloys primarily for aerospace applications, with certifications from major aircraft manufacturers.

Key Advantages:

• Vertical integration from raw material to components
• AS9100 certified production facilities
• Strategic partnerships with Boeing and Airbus

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6️⃣ 5. Taiyuan Yiwei Magnesium Co., Ltd.

Headquarters: Taiyuan, Shanxi, China
Key Offering: Magnesium ingots, alloys, powders

One of China’s leading magnesium exporters with expanding production capacity to meet growing international demand across industrial applications.

Export Capabilities:

• 50,000+ tons annual export volume
• Comprehensive product range
• Efficient global distribution network

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5️⃣ 6. Shanxi Credit Magnesium Co., Ltd.

Headquarters: Taiyuan, Shanxi, China
Key Offering: Magnesium anodes, alloy rods

Specialist in corrosion protection solutions, supplying magnesium anodes for marine and industrial applications worldwide.

Market Position:

• Leading producer of sacrificial anodes
• Custom alloy formulations
• Strong Middle East and Southeast Asia presence

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4️⃣ 7. Solikamsk Magnesium Works

Headquarters: Solikamsk, Russia
Key Offering: Pure magnesium, titanium sponge

Russia’s oldest magnesium producer (established 1936) supplying aerospace and defense sectors with technical expertise in magnesium and titanium production.

Historical Expertise:

• Kroll process titanium co-production
• Strategic supplier to Russian aerospace
• Environmental production upgrades

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3️⃣ 8. Western Magnesium Corporation

Headquarters: Vancouver, Canada
Key Offering: Emerging producer, R&D expertise

Developing North America’s potential second primary magnesium production facility using innovative continuous silicothermic technology.

Innovation Focus:

• Potential to disrupt traditional production
• Lower-carbon methodology
• Research institution partnerships

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2️⃣ 9. Tongxiang Magnesium Science & Technology Co.

Headquarters: Tongxiang, Zhejiang, China
Key Offering: Magnesium alloys, die-cast components

Specializing in converting primary magnesium into high-value automotive components through advanced die-casting operations.

Automotive Focus:

• Strategic automaker partnerships
• Integrated production capabilities
• Lightweighting solutions expertise

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1️⃣ 10. POSCO (Magnesium Business Unit)

Headquarters: Pohang, South Korea
Key Offering: Wrought magnesium products

The steel giant’s magnesium division specializes in premium sheets, strips, and plates for electronics and specialty applications.

Technical Capabilities:

• Advanced rolling technology
• Material science expertise
• High-tech industry applications

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🌍 Outlook: The Future of Magnesium is Light and Strong

The metal magnesium market is transforming as industries embrace lightweighting strategies, with China currently dominating production but new technologies enabling geographic diversification.

📈 Key Market Trends:

• Automotive demand driving 9-12% annual growth
• Development of corrosion-resistant alloys
• Emerging biomedical and electronics applications
• Supply chain diversification initiatives

The profiled companies are leading the transition to more efficient, sustainable manufacturing through magnesium innovation.

Read Full Report:
Metal Magnesium Market – View in Detailed Research Report