Global Aluminum Casting Market, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Aluminum Casting Market


The global Aluminum Casting market size is projected to reach US$ 94.54 billion by 2026, from US$ 56.06 billion in 2020, at a CAGR of 9.1% during 2021-2026. Upswing in the use of aluminum in automobile manufacturing and heightened demand from the building & construction sector in Asia Pacific has boosted the growth of the market.

Casting of raw materials into products is an old technique which was first observed in later period of 19th century. Over the period, several technical advancements were achieved in terms of production, quality, efficiency, and others. However, the basic principle of pouring molten metal into a mold and replicating the desired pattern, remained the same.

Strict emission laws imposed by U.S. EPA are among the primary growth stimulants for the market in the country. Regulations aim to reduce greenhouse gas emissions from automobiles by increasing fuel efficiency of vehicles, which can be effectively achieved by making vehicle lighter.

Rapid expansion of the automotive industry worldwide is also projected to benefit the growth of the market. At a global level, nearly 60.0% of cast products in the market are directed towards the automotive industry. In some countries, the penetration of aluminum cast products in the automotive sector is much higher as compared to the global average. For instance, roughly 80.0% of produced aluminum cast products in Spain are utilized by the automotive sector.

Market Segmentation, Outlook & Viewpoint: Global Aluminum Casting Market

Process Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

Die casting

  
Pressure die casting
  
High pressure die casting
  
Low pressure die casting

Permanent mold casting

  
Others

End-Use Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Transportation
  
Industrial
  
Agricultural Equipment
  
Construction Equipment
  
Others
  
Building & construction
  
Others

Key Players, Recent Developments & Regional Insights: Global Aluminum Casting Market

Asia Pacific was the leading revenue contributor in the market, accounting for about 43.0% in 2018. The production of automotive vehicles in the region observed a rise of nearly 3.3% from 2016 to 2017, as per the study published by OICA in 2017. Thus, shifting of production facilities in the region, coupled with steady development of the automotive sector, is anticipated to stoke the growth of the market.

Europe is projected to post a CAGR of 7.1% in terms of value from 2019 to 2025. The market in the region is dominated by major countries such as Germany, France, Italy, and Russia. Focus on reducing CO2 emission in Europe by implementing Euro 6b emission standards in 2014 and Euro 6c with real driving emissions (RDE) along with World Harmonized Light Vehicle Testing Procedure (WLTP) are creating strong growth potential for lightweight materials in the region.

North America is poised to exhibit high growth over the same period, owing to strict emission rules in the U.S. and growth of the industrial sector in Mexico. Increasing use of aluminum in vehicle manufacturing has a direct and positive impact on the demand for cast products. The region is one of the largest global markets for automobiles and is, thus, likely to witness healthy growth during the forecast period.

Aluminum Casting Market Share Insights

Some of the key manufacturers are Alcoa Corporation; Walbro; Consolidated Metco, Inc.; Dynacast; Gibbs Die Casting Corporation; Bodine Aluminum, Inc.; Ryobi Ltd; Aluminum Corporation of China Limited; Martinrea Honsel Germany GmbH; Endurance Technologies Limited; and Alcast Technologies.

In an attempt to mark their presence in the market, new players must compete with existing global players such as Dynacast, Alcast Tech, ConMet, and Martinrea Honsel. Surging demand for quality casting products coupled with technological developments in its production is making manufacturers conscious about the need for constant innovations and maintaining high standards of their products.

Key Insights Covered: Global Aluminum Casting Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Aluminum Casting industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Aluminum Casting industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Aluminum Casting industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aluminum Casting industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Aluminum Casting industry.

Research Methodology: Global Aluminum Casting Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other