China Automotive Magnesium Alloy Die Casting
Under the general trend of automobile lightweight, the CAGR of magnesium alloy market demand reached 13.2%Get more news about magnesium alloy casting manufacturers,you can vist our website!
The vast majority of automotive magnesium alloy parts are die casting parts, which are mainly used in housings and brackets. Magnesium alloy is a good substitute for steel and aluminum alloy, and can reduce the product weight by 25%-75%. However, the current application ratio of magnesium alloy in automobiles is much lower than that of aluminum alloy.
For every 10% reduction in the weight of new energy vehicles, the average cruising range can increase by 5%-8%. Therefore, the demand for lightweight new energy vehicles is urgent. The density of magnesium alloy is 2/3 that of aluminum and 1/4 that of steel, so it is much lighter than the latter two, which means that magnesium alloy is the best choice for lightweight new energy vehicles.
New energy vehicle battery packs account for more than 20% of the vehicle weight, thus lightweight new energy vehicles partly hinge on lightweight battery packs.
Lightweight battery packs can make outer casings, bottom trays, and inner end/side panels lighter. For example, Tesla MODEL S mainly uses aluminum alloy for the battery pack shell which weighs up to 125 kg; if it uses magnesium alloy, the weight will be reduced by about 60 kg or nearly 50%.
At present, Wanfeng Meridian, Qianhe Magnesium, RSM Group, Eontec, Ka Shui Group, etc. have made layout in the field of magnesium alloy casting for battery pack shells of new energy vehicles.
As the world's leading supplier of new energy vehicle batteries, CATL has also deployed magnesium alloy die casting for battery packs. In November 2020, CATL, Sanxiang Advanced Materials, Vansun Group, and Zhuhai Hengqin Yinmei Technology jointly established Ningde Wenda Magnesium-Aluminum Technology Co., Ltd. to build a magnesium-aluminum alloy project with a total investment of RMB800 million. The products include die casting structural parts for battery casings.
At present, the global automotive magnesium alloy die casting market is highly fragmented with low market concentration The relatively large-scale companies mainly include Georg Fisher, DGS, STIHL, Wanfeng Meridian, SUNDARAM CLAYTON, Gibbs, PACE, etc.
In the short history of China's automotive magnesium alloy die casting market, there are only a few companies of a certain size, mainly including Wanfeng Auto Wheel, RSM Group, Sinyuan ZM, Eontec, Ka Shui Group, etc.
Wanfeng Auto Wheel has become a leader in the automotive magnesium alloy die casting market in China and even in the world through the acquisition of Wanfeng Meridian which was granted the Automotive Casting Excellence Award by The International Magnesium Association (IMA) for two consecutive years. Wanfeng Meridian serves not only Tesla, NIO and other new energy vehicle companies, but also traditional automakers such as Porsche, Audi, Mercedes-Benz, BMW and Volvo.
