Global magnesium production demand in the next ten years will continue to grow

A few days ago, internationally renowned consulting companies made a special report of “Global Magnesium Industry Progress”.In the report, the global magnesium supply and consumption situation in the first half of 2022 was reviewed, and the global magnesium market in the next 10 years was looking forward to the world.

As we all know, magnesium is a commonly used reducing agent, which can be replaced with metals such as titanium, crickets, uranium, and crickets.It is mainly used to manufacture light metal alloys, balls and cast iron, scientific instruments and grid reagents.It can also be used for fireworks, glitter powder, magnesium salt, aspirator, lighting, etc.Structural characteristics are similar to aluminum and have various purposes of light metal, which can be used as alloy materials for aircraft and missiles.But magnesium is combustible at gasoline, which limits its application.

In the first half of 2022, the global magnesium consumption declined due to the new crown pneumonia. Entering the second half of 2022, the magnesium market recovered significantly and the price rebounded. Global magnesium consumption is expected to increase by 8%this year, among which China’s magnesium consumption is expected to increase significantly by 11%. As the prices of silicon iron and coal have risen, the production costs of raw magnesium have risen by 19%, and the cost has also helped the price of magnesium rising rapidly. Stimulated by the increase in magnesium prices, the raw magnesium output is expected to increase by 6.9%this year. In the context of the Chinese government promoting carbon peaks and carbon neutrality and firmly taking the road of sustainable development, the production costs of China’s raw magnesium are gradually increasing. However, the cost level of the magnesium plant using semi -coke gas as the energy sources in Shaanxi Province is still the lowest in the industry. What’s more important is that environmental inspections and inspections are becoming more and more frequent, and the requests are becoming more and more stricter. Some magnesium plants have been required to stop production in Shaanxi Province. Investment is increasing, increasing operating costs. The situation of other high energy -consuming industries in China is similar to the magnesium industry.

Looking forward to the future, Hebei Magnesium Biological Co., Ltd. believes that the demand for magnesium in the world in the next 10 years will continue to grow. The average annual increase in 10 years will be 5.2%, which is slightly higher than the previous 10 years. The main driving force for the continued growth of magnesium demand is the growth of magnesium alloy in the automotive field. It is expected that from 2021-2030, the average annual increase in the consumption of magnesium in the automotive field will be 7.6%. In this field, the development of electric vehicles will develop. It is the key factor that drives the magnesium of the car. The amount of magnesium in the field of metallurgy will also maintain growth, and the driving force for growth is changes in the variety structure, such as the growth of aluminum and titanium with aluminum and titanium.

Hebei Magnesium Biological Co., Ltd. predicts that from 2020-2030, the average annual growth rate of magnesium in magnesium will reach 5.1%, and it will reach approximately 1.4 million tons by 2025 and about 1.8 million tons by 2030. Driven by demand and price, China’s new magnesium projects and expansion projects will be completed and put into operation in the next 10 years. The average annual growth rate of China’s output will be 4.3%, and other countries will be 7.8%. Although there will be some changes in the global magnesium supply pattern in the future, and the supply will be diversified, China is still the world’s most important raw magnesium producer, and the output ratio will still be more than 75%. Hebei Magnesium Biological Co., Ltd. lists five foreign smelting projects under construction and proposed in foreign countries, in Canada, the United States, Australia and Norway, respectively.

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