Aluminum Casting Market Exhibits a Near Two-fold Growth in Forthcoming Decade, Projects Fact.MR
Product properties such as high-tensile strength, resistance to high-temperatures, and advancements in casting techniques drive the demand for aluminum casting in various industries.
The global aluminum casting market will register a stellar 1.8X growth during the forecast period (2019-2029).
Soaring automotive production in developing economies creates a continuous demand for lightweight components manufactured from alloys such as aluminum.
The non-magnetic and ductile metal presents an ideal alternative for reducing the weight of automotive products and increasing fuel efficiency.
Increasingly stringent statutory regulations across the globe is giving an uptick to the demand for aluminum casting through 2029.
Permanent Mold Casting to Capture Significant Revenue Share
Die casting of aluminum holds a majority share of more than ½ of the total market value.
Burgeoning production of light weight vehicles for general and sports utility purposes drives the demand for this segment. Aluminum aids energy-efficiency and enhanced product durability.
Permanent mold casting processes account for the second highest market value share with over 42% of the total market value.
High volume requirements for end-use industries to manufacture durable products at scale is a central driver for aluminum casting demand from this process segment.
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Asia Pacific Maintains Hegemony over Global Sales
East Asia is the leader in global sales with the largest market share of over 1/3 of the total market revenue.
Presence of leading manufacturers in countries such as China, Japan further the growth of the aluminum casting market amid surging automotive and industrial production.
The region exhibits an impressive 7.7% CAGR through 2029. Europe accounts for the second largest market value share with over ¼ of global sales coming from this region.
Consumer adoption of electric automotive products coupled with strict carbon emission regulations presents lucrative growth prospects during the forecast period.
The highest growth is recorded in South Asia & Oceania. The region is experiencing a boom in economies with profitable digital start-ups strengthening growth.
The resultant increase in income levels is accelerating the demand for light-weight, high-performance, and energy efficient products for which, aluminum casting of components is an ideal alternative.
Targeting Emerging Economies - Key Growth Strategy
Market players are eyeing turnkey projects in emerging economies to garner profits. Indonesia is witnessing a multiplying demand for electric and conventional two-wheelers.
Similarly, China and India are incentivising electric vehicle adoption in the two-wheeler and light weight vehicle segment. Developed economies on the other hand offer market players a chance to tap new end-use industries.
The demand for enhanced utility and durability amid surging adoption of smart devices, creates demand for lightweight aluminum components.
Research & development of efficient and scalable casting methods will provide manufacturers a competitive edge.
Major players that shape the competitive landscape of the global aluminum casting market care, but not limited to
- WalbroAlcoa Corporation
- Consolidated Metco Inc.
- Gibbs Die Casting Corporation
- Ryobi Ltd.
- Bodine Aluminum Inc.
- Martinrea Honsel Germany GmbH
- Aluminum Corporation of China Limited
- Alcast Technologies
- Endurance Technologies Limited.
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Global Aluminum Casting Market: In-Depth Assessment on Key Segments
The global aluminum casting market is segmented on the basis of process, end use and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for aluminum casting has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous aluminum casting manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global aluminum casting market.
Global Aluminum Casting Market – Scope Of The Report
The following report provides forecast and analysis of the global aluminum casting market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Kilo Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global aluminum casting market along with several macro-economic indicators.
This newly published and insightful report on aluminum casting sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global aluminum casting market.
The report also comprises the study of current issues with end users and opportunities for aluminum casting. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of aluminum casting manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the aluminum casting market provided in the report adds to the credibility of this exhaustive research study.
Global Aluminum Casting Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the aluminum casting market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the aluminum casting market, which includes global GDP growth rate, various sector growth rate such as transportation, industrial, building & construction and others.
This report serves as an authentic resource of intelligence on the aluminum casting market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.