Aluminum Castings Market
Aluminum Casting Market By Process (Die casting, Pressure die casting, Permanent mold casting), By End Use (Transportation, Industrial, Building & construction), By Region - Global Market Insights 2019 to 2029
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.
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.
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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.
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