Magnesium ingot is an important material to make magnesium alloys. The main downstream application field of magnesium alloys is the production and manufacturing of automobiles. About 70% of magnesium alloys are used in automobile manufacturing. Magnesium Ingot in Automobile Industry gets more important is mainly due to its low density, light weight and high strength. Mg alloy 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. As a result, it will increase the demand for magnesium alloy materials.
Magnesium alloys have low density and light weight. At the same time, it have high strength, magnesium ingot in automobile Industry can reduce the mass of automobiles without reducing the strength. Therefore, magnesium alloy is the main raw material for the production of lightweight automobile parts. With the growth of lightweight automobile production and sales, the demand for magnesium alloy will grow.
As the timetable for the ban of fuel vehicles in European and American countries is getting closer, the demand for new energy vehicles will also increase rapidly. Then the demand for magnesium alloys in the European and American markets will also increase rapidly.
In addition, Magnesium ingot can also be used in the field of aluminum alloys. Silicon-magnesium aluminum alloy made by adding Mg ingot and silicon metal to aluminum alloy has high strength and high rigidity. At the same time, aluminum alloy also has the characteristics of good thermal conductivity and easy processing. Therefore, aluminum alloys containing Magnesium are ideal materials for automobile bodies, which can help reduce body weight, improve handling performance, and enhance safety.
Magneisum Alloy and Auto Market
Driven by the continued development of lightweighting in the automotive industry, China’s magnesium alloy output has maintained a steady growth trend for many years. China’s magnetium ingot production ranks first in the world. In 2022, my country’s magnesium metal production will account for 88% of the world’s magnesium metal production. Therefore, China’s exports of magnesium metal related products are much higher than its imports.
In 2023, global automobile sales returned to 90 million tons, indicating that the global auto industry has returned to the activity before 2020. This is the good news to magnesium ingot supplier. Especially in Western Europe, vehicle sales increased by 14% year-on-year, reflecting the region’s increased economic vitality and consumer confidence, as well as the continued growth in demand for lightweight vehicle technology.