The magnesium market could double in under a decade and one...

The magnesium market could double in under a decade and one ASX-listed company is ready to make its move - *

But its real growth story is in its emergence in recent years in lightweight aluminium sheet for panels in cars, a technological development that could leverage it to the growth of the Chinese automotive sector and, in particular, Electric Vehicles (EVs).

According to the latest Chinese 13-year plan, the volume of magnesium in a car will rise from an average of 8.6kg/car in 2017 to 45kg by 2030, with a compound annual growth rate in the market of 5%.

“We’re about 1Mt in the Mag market, that’s going to double off the back of aluminium sheet,” Paterson said. “Forget about any other use, it will just double off the back of that.”