Magnesium has an atomic number 12 and Mg as its symbol. The metal is thin, silvery-white and belongs to the family of alkaline earth metals. Magnesium is popular for its outstanding strength-to-weight ratio and high reactivity. It is widely employed in various applications and is the eighth most common element on the crust of the Earth.
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Magnesium is valuable in the creation of alloys for lightweight structural components, such as in the automotive and aerospace sectors, due to its superior heat and electrical conductivity. It is important for many biological processes and is employed in medical procedures, thus it also has a significant impact on how the human body functions.
Key Details About the Magnesium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Magnesium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Magnesium Price chart, including India Iron price, USA Iron price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Magnesium Price Trend:
One of the major applications of magnesium is in the automotive industry where it is employed in the production of lightweight components. These light-weight components such as engine blocks, cylinder heads, etc. help in improving fuel efficiency and reducing emissions from vehicles. The metal also finds applications in the aerospace sector, particularly in the manufacturing of wind panels, landing gear, and helicopter rotor housings. The metal is also essential in the production of high-strength and corrosion-resistant alloys. These are widely employed in the manufacturing of doors, windows, and roofing. Magnesium is also popular in the chemical industry as it acts as a catalyst, stabilizer, and fertilizer. It is also a central element in the production of refractory bricks with high temperature resistance.
Key Players:
- NIPPON KINZOKU CO LTD
- Latrobe Magnesium
- Alliance Magnesium Inc
- US Magnesium LLC
- Regal Magnesium Co Ltd
- Dead Sea Magnesium Ltd
- RIMA Group
- Wenxi YinGuang Magnesium Industry Co Ltd
- Magontec Ltd
- MagOne Products
- WHY Resources
News and Recent Developments:
- March 30, 2023- Higher magnesium intake linked to lower dementia risk- The population with dementia is expected to rise from 57.4 million in 2019 to 152.8 million in 2050. Researchers are still unable to find the exact cure for the prevention and treatment of this disease, though many of them link it to the day-to-day diet of a person. In inclusion of magnesium in the diet is proven to develop cognitive functions and thus in turn reduces dementia risks. A study among 17-year-olds suggests that the risk of dementia is lowered by 37% in those who take high levels of magnesium compared to those who take its minimal amount.
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