Industry Trends

Due to magnesium's unique light weight and high strength properties, many experts believe the largest driver of future demand growth will be the automobile industry. There are growing international pressures to increase automobile fuel efficiency and lower greenhouse gas emissions and automakers are looking to magnesium to reduce vehicle weight in order to save fuel consumption and improve the environment.  It is estimated that a 10% reduction in vehicle weight can lead to a 6-8% savings in fuel consumption.
 

Currently, multiple automobile parts can be made from magnesium alloys such as engine block, wheel, steering column, seats, front console, hood, and etc.  According to the United States Automotive Materials Partnership (USAMP), it is estimated that by 2020, 350 lbs of magnesium will replace 500 lbs of steel and 130lbs of aluminum per vehicle, an overall weight reduction of 15%.  In turn, this weight savings would lead to a fuel savings of 9% to12% without any drastic changes in design. Considering the large number of vehicles produced worldwide, this weight savings can lead to a significant reduction of carbon dioxide released into the atmosphere, reducing its harmful impact on global warming.  It is for this reason, that magnesium is known as the green metal of the 21st century. 

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