Automotive lightweighting increases demand for magnesium alloys

2024-01-17 09:29:16

In recent years, with the strong support and guidance of the national and local governments, our magnesium industry has initially formed a complete industrial chain from raw material production, deep processing to application, and has continued to develop in depth in the direction of deep processing. In order to promote the healthy and rapid development of the magnesium industry and promote scientific and technological innovation in the field of magnesium research, it is necessary to strengthen top-level design and promote the formulation of a development strategy for the magnesium industry at the national level; adhere to the green and low-carbon development path of the magnesium industry itself; it is necessary to strengthen product research and development in key application areas, further expand the growth of magnesium metal consumption. 

The increase in the penetration rate of new energy vehicles has made the demand for lightweight vehicles more urgent, increasing the demand for magnesium alloys. In addition, new battery technologies such as solid-state batteries, lithium iron manganese phosphate batteries, fuel cells, and vanadium batteries are all more traditional than traditional ones in some aspects. Lithium batteries have advantages and have great development potential. The corresponding battery routes can drive demand for zirconium, platinum group metals, manganese, vanadium and other metals.

At present, the most important downstream application area of magnesium alloys is the production and manufacturing of automobiles. About 70% of magnesium alloys are used in automobile manufacturing. The reason why magnesium alloy is widely used in automobile manufacturing is mainly due to its low density, light weight and high strength, which can reduce the weight of the car without reducing the quality of the car. Energy conservation and emission reduction will promote the development of lightweight automobiles, which will in turn increase the demand for magnesium alloy materials.

The “magnesium economy” is a green circular economy and a modern industrial cluster closely related to it based on independent innovation of key fuel cell technologies. It not only provides clean, safe and efficient solutions for the energy storage and consumption of renewable energy and the comprehensive utilization of industrial waste, but also provides important basic materials for the development of high-end manufacturing, creating a high-quality and low-cost industrial source.

In the fierce market competition, whether companies and investors can make timely and effective market decisions is the key to success. The magnesium alloy industry report written by China Research Network conducts a detailed analysis of the development status, competitive landscape, and market supply and demand situation of China’s magnesium alloy industry, and analyzes the opportunities facing the industry from the aspects of the industry’s policy environment, economic environment, social environment, and technical environment. . At the same time, it reveals the potential demand and potential opportunities of the magnesium alloy market, providing accurate market intelligence information and scientific decision-making basis for strategic investors to choose appropriate investment opportunities and company leaders to make strategic planning. It is also a great reference for government departments.

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