Global Aluminum Casting Market was valued US$ XX Bn. in 2019 and is expected to grow US$ 112.81 Bn. by 2027, at a CAGR of XX% during the forecast period.
Global Aluminum Casting Market
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Global Aluminum Casting Market Definition:
Cast aluminum is also recognized as tempered aluminum, which is non-toxic. Aluminum is light-weight, possesses excellent strength, high thermal & electrical conductivity, high reflectivity, excellent workability, and attractive, because of which aluminum is chosen over steel and iron as casting material. Two types of aluminum logs are currently available in the market, primarily consisting of pure aluminum, and secondary consisting of prime & scrap.
Global Aluminum Casting Market Drivers:
Aluminum casting is widely being used in electric automobiles to reduce weight and lower energy requirements. Industries, such as aerospace and automotive are progressively focusing on using lightweight materials. Aluminum is rapidly becoming the most favored material for numerous manufacturers who look to meet the challenging weight reduction goals without compromising on the strength. Aluminum finds application in numerous parts of the vehicle including the chassis, wheels, and body. It is also used in the compartment that carries electric batteries in EVs. Aluminum helps in regulating the temperature around the battery modules in warm or cold weather by using its thermal transfer capabilities. Thus, the growing use of aluminum casting in electric vehicles (EVs) will drive the aluminum casting market growth in the future.
A rising trend in the global aluminum castings market is the development and manufacture of aluminum castings from recycled aluminum, because of stringent government regulations related to recycling of materials to reduce waste, mainly in developed economies. This trend is expected to continue over the forecast period.
On the other hand, rising demand for lightweight materials for casting purposes such as carbon fiber and manganese as a substitute for aluminum is a factor expected to hamper the growth of the global aluminum castings market in the future. Also, factors such as high prices of aluminum casting machinery, along with high investments in technological advancements in aluminum casting, strict rules and guidelines laid down by the U.S. Environmental Protection Agency (EPA), and the European Environment Agency about harmful emissions into the environment during the casting process is expected to hinder market growth in the forecast period.
Global Aluminum Casting Market Segmentation:
According to the die casting of aluminum holds a majority share of over ½ of the global market value. The growing production of lightweight vehicles for general and sports utility purposes drives the demand for this segment. Aluminum aids energy efficiency and improved product durability. Permanent mold casting processes account for the second-largest market share with above 43% of the global 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.
Global Aluminum Casting Market1
Region-wise, the market in Asia-Pacific is expected to hold the largest market share of the global aluminum castings market in terms of revenue. Because of the presence of some of the largest aluminum producing countries, such as China, Australia, and India. Increasing the adoption of aluminum castings in the automobile sector and the aviation sector is another factor supporting the growth of the global market in the region. Markets in Europe and North America are also expected to witness noteworthy growth over the forecast period, consecutively, thanks to the demand for light-weight vehicles and increasing the automobile sector in countries, like the U.S., Germany, and France. Also, the presence of major airline manufacturing companies, such as Airbus, Boeing, and Bombardier in these regions further supports the growth of the global market in the respective regions.
The objective of the report is to present a comprehensive analysis of the Global Aluminum Casting Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Aluminum Casting Market dynamics, structure by analyzing the market segments and project the Global Aluminum Casting Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Aluminum Casting Market make the report investor’s guide.
Scope of the Global Aluminum Casting Market: Inquire before buying
Global Aluminum Casting Market, By Process
• Die casting
• Permanent mold casting
• Sand casting
Global Aluminum Casting Market, By End-use
• Building and construction
• Others (Household appliances, Engineering Tools, and Telecom)
Global Aluminum Casting Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Aluminum Casting Market
• Arconic Inc.
• Dynacast International
• Endurance Technologies Ltd.
• Eagle Aluminum Cast Products
• Alcoa Corporation
• Ryobi Limited
• Aluminum Corporation of China Limited
• Rio Tinto plc
• United Company
• Rusal PLC
• China Hongqiao Group Limited
• Gibbs Die Casting Corp
• Kaiser Aluminum Corporation
• Consolidated Metco, Inc.
• Alcast Technologies
• Ningbo Beilun Create Mould Machine Co., Ltd
• Leggett & Platt
• Martinrea Honsel Germany GmbH
• Reliance Foundry Co. Ltd.
• Toyota Industries Corporation
• LA Aluminum
• TPi Arcade
• Drahtwerk Elisental W. Erdmann GmbH & Co.
About This Report
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.