In the 21st century, with the rapid development of the automotive industry, rail transit, aerospace and electronic products industries, and people’s pursuit of high quality of life, the demand for environmentally friendly, lightweight, and high-performance materials is increasing. The governments of various countries and the magnesium alloy association have successively proposed the development of new high-performance magnesium alloys, the development of new processes and technologies for the production and processing of magnesium alloys, and the production of high-quality, stable-performance diversified, multi-standard magnesium alloy products, improving product yield and production efficiency. Promote the further industrial production and application of magnesium alloy materials. The scale industrialization of magnesium alloys in the world is gradually being realized, and the development of magnesium alloys has entered a new round of new high-speed development period.
In recent years, the cost and environmental factors that have constrained the development of the magnesium industry have significantly improved. After the global financial crisis in 2008, the world magnesium industry, dominated by China's magnesium industry, was one of the fast-recovering material industries. In 2012, the output and consumption of the global magnesium industry has basically recovered to the level before the financial crisis, but the cost and price have dropped substantially. The original magnesium price has been reduced to less than 50% of the price in 2007, and the energy consumption of the magnesium industry Pollution has also been greatly reduced. At the same time, since 2013, China, as a global magnesium producer, has cancelled 10% of the export tariffs on magnesium and magnesium alloys that have been implemented since 2008, which has directly led to a 10% drop in magnesium prices in the international market.
In recent years, China’s magnesium production and exports have ranked first in the world for many years in a row. In 2017, China's raw magnesium production reached nearly 1 million tons, accounting for about 80% of the world's total output. China's domestic consumption of primary magnesium exceeded exports for the first time. One of the important developments in the magnesium industry in recent years in China is the completion of the 100,000-ton magnesium metal integration project in Qinghai Salt Lake Magnesium, which shows a good momentum of development. The successful operation of this project can alleviate the price fluctuation of raw magnesium in Pidgeon caused by the price fluctuation of ferrosilicon to a certain extent.
In the past ten years, the application of magnesium alloys has increased significantly. According to preliminary statistics, the use of magnesium alloy has increased to about 400,000 tons. This shows that while magnesium alloy industry technology is developing rapidly, magnesium alloy products have begun to gain more and more applications in the field of application. At the same time, the policy environment for the magnesium industry has gradually improved. In particular, in 2016 China’s national leaders inspected the Qinghai Salt Lake Metal Magnesium Integration Project, which will effectively safeguard and promote the healthy development of the magnesium industry from the national policy level. All these have created good cost conditions and environmental foundations for the sustainable development of the world's magnesium industry. Magnesium alloy market demand significantly increased, further development of the magnesium industry technology and further improvement of the industrial policy environment, is expected to promote the magnesium industry from million tons to more than 5 million tons in 5-10 years.