Lithium-Magnesium Alloy Market Report 2025

The lithium-magnesium alloy market size has grown strongly in recent years. It will grow from $1.08 billion in 2024 to $1.17 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth during the historic period can be attributed to the rising use of portable electronics, growing interest in sports and leisure equipment, increased mining and extraction of lithium and magnesium, and government funding and research grants.

The lithium-magnesium alloy market size is expected to see strong growth in the next few years. It will grow to $1.62 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rising demand for lightweight materials in the automotive sector, increased use in aerospace and defense applications, expansion of the electric vehicle (EV) market, growing defense budgets globally, and growth in industrial machinery and robotics. Major trends during this period include advanced alloy processing techniques, integration into battery anode materials, advancements in alloy manufacturing technologies, alloy customization through artificial intelligence (AI) and machine learning (ML), and the development of aerospace-grade alloys.

The growing adoption of electric vehicles is expected to drive the expansion of the lithium-magnesium alloy market moving forward. Electric vehicles (EVs) are cars powered by electric motors using rechargeable batteries or fuel cells instead of internal combustion engines, offering benefits like lower emissions, improved energy efficiency, and reduced reliance on fossil fuels. The rise in electric vehicle usage is largely fueled by increasing fuel prices, making EVs a more economical choice for consumers. Lithium-magnesium alloy contributes to electric vehicles by providing lightweight yet strong components, enhancing energy efficiency and extending vehicle range. It also supports improved thermal management and structural durability, aiding the development of smarter and more sustainable mobility solutions. For example, in May 2024, the International Energy Agency, a France-based intergovernmental organization, reported that electric car sales reached 14 million units (18%) in 2023, up from 3 million (4%) in 2020. Hence, the increasing use of electric vehicles is propelling growth in the lithium-magnesium alloy market.

Key players in the lithium-magnesium alloy market are focusing on developing advanced products such as dual-motor assemblies to improve efficiency, reduce weight, and enable smarter, quieter mobility. Dual motor assemblies are electric drive systems that employ two motors - typically one on the front axle and one on the rear - to deliver enhanced power, efficiency, and all-wheel-drive capabilities. For instance, in May 2025, Shenzhen Xingqiu Technology Co. Ltd., a China-based electronics manufacturer, introduced mass-produced lithium-magnesium alloy dual-motor housings. The use of lithium-magnesium alloy boosts thermal conductivity, structural strength, and overall performance in electric mobility applications. This innovation meets the growing demand for lightweight, high-efficiency components in EVs, designed to improve motor durability and reduce energy loss, ultimately extending vehicle range and enhancing heat dissipation.

In November 2022, Curtiss-Wright Corporation, a US-based aerospace and defense firm, acquired Keronite Group Limited for an undisclosed amount. This acquisition aims to strengthen Curtiss-Wright’s surface treatment capabilities and broaden its specialty coatings portfolio, especially to support advanced defense and aerospace applications. Keronite Group Limited is a UK-based company specializing in coating technologies for surface treatments on lithium-magnesium alloy components.

Major players in the lithium-magnesium alloy market are POSCO Magnesium Corporation, Jiangxi Ganfeng Lithium Group Company Limited, Curtiss-Wright Corporation, Santoku Corporation, Stanford Advanced Materials Inc., MSE Supplies LLC, Tekno Steel & Engineering Company, Shanghai Metal Corporation, Jaydeep Steels Private Limited, American Elements Corporation, Dome Metals Co Ltd., MTI Corporation, ATT Advanced Elemental Materials Company Limited, Firering Strategic Minerals Holdings Limited, Heeger Materials Incorporated, Nanochemazone Inc., Shanxi Bada Magnesium Company Limited, Suzhou Haichuan Rare Metal Products Co Ltd., Tangshan Weiho Magnesium Powder Company Limited, and Xi'an Sifang Ultralight Material Company Limited.

North America was the largest region in the lithium-magnesium alloy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in lithium-magnesium alloy report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the lithium-magnesium alloy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

A lithium-magnesium alloy is a lightweight metal primarily made of magnesium with small amounts of lithium added to enhance its characteristics. The inclusion of lithium improves the alloy’s strength-to-weight ratio, corrosion resistance, and ductility. Its primary purpose is to create ultralight structural components for aerospace, automotive, and electronic applications where reducing weight is essential.

The main product types of lithium-magnesium alloy include sheets, plates, extrusions, and others. Sheets consist of thin, flat pieces of lithium-magnesium alloy available in standard or custom sizes. These sheets are made from various alloys such as high-lithium-content, high-magnesium-content, and balanced lithium-magnesium alloys, using technologies like cold working, hot working, additive manufacturing, and casting techniques. Lithium-magnesium alloys are used in industries including aerospace, automotive, electronics and electrical applications, medical devices, and energy storage solutions.

The lithium-magnesium alloy market research report is one of a series of new reports that provides lithium-magnesium alloy market statistics, including lithium-magnesium alloy industry global market size, regional shares, competitors with a lithium-magnesium alloy market share, lithium-magnesium alloy market segments, market trends and opportunities, and any further data you may need to thrive in the lithium-magnesium alloy industry. This lithium-magnesium alloy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The lithium-magnesium alloy market consists of sales of foils, rods, bars, billets, tubes, wires, ingots, and castings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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