Magnesium to play bigger role in vehicle material mix

The market for magnesium alloys within the global automotive industry is now predicted to grow at a CAGR of 10.1% between 2015 and 2020, according to a report from global market research firm Lucintel. Fuel-efficiency targets will be the main force behind the growth – on average, the material is 75% lighter than mild steel and 33% lighter than rival lightweight metal aluminium. It also boasts superior noise, harshness and vibration dampening properties, and has superior dent resistance.