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Global Aluminum Casting Market, By Product (Silicon, Iron, Copper, Magnesium, Zinc), By Methods (Die Casting, Permanent Mold Casting, Others), By Industry Application (Aerospace, Construction & Architecture, Others), Estimation & Forecast, 2017 ? 2030

Global Aluminum Casting Market, By Product (Silicon, Iron, Copper, Magnesium,...

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Global Aluminum Casting Market, By Product (Silicon, Iron, Copper, Magnesium, Zinc), By Methods (Die Casting, Permanent Mold Casting, Others), By Industry Application (Aerospace, Construction & Architecture, Others), Estimation & Forecast, 2017 ? 2030
Global Aluminum Casting Market, By...
Report Code
RO4/131/1011

Publish Date
07/Mar/2023

Pages
340
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$ 4250/-
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Market Introduction
The global aluminum casting market held a market value of USD 61.29 billion in 2021 and is estimated to reach USD 108.65 billion by the year 2030. The market is anticipated to register a CAGR of 6.8% during the forecast period. The market volume is estimated to account around 30,025.3 MT in 2021.
The surge in the demand for high-end automobiles, increasing inclination towards electric vehicle purchase, is fueling the growth rate of the aluminium casting industry. For instance, according to the Federal Reserve Bank of St. Louis, the global sales of lightweight vehicles reached 17.385 million units in May 2019. Moreover, the high military investments in weapon systems that are accessible and lightweight is also a major contributor towards the growth rate.
The rising strategic intiatives boost the growth rate of the industry. For instance, in June 2021, Rio Tinto partnered with Comptech to launch aluminum alloys which can be used in advanced technologies including electric vehicles and 5G antennas. Thus, such measures drive the market growth.
On the other hand, the high investment in setting up the machinery curbs the market growth to a certain extent. In addition to that, the replacement of aluminum alloys is also hindering the growth of the aluminum casting market.
Growth Influencers:
Rising military investment in lightweight weapon systems
The increasing military investment and government inclination is contributing heavily towards the growth of the aluminum casting industry. For instance, in April 2022, Landmark policy decision in India came up with indigenisation of weapons and platforms to speed up the Aatmanirbharta in defence industry in India. These weapons include highly complex systems, sensors, weapons and ammunitions, such as light weight tanks, mounted arty gun systems guided extended range (GER) rocket, next generation offshore patrol vessels (NGOPV), medium range anti-ship missile (naval variant), advance light weight torpedo (ship launch), and many other such equipment. The usage of such weapons will definitely increase the demand for aluminum casting.
Growing electric vehicles market
The heavy increase in the electric vehicle sales creates demand for the aluminum casting market indirectly. Several public as well as private organizations are inclined towards purchasing electric vehicles. In 2017, Dubai purchased 200 Teslas to expand the city's airport taxi fleet, including Model X's. Such measures highlight the rising market which boosts the industry for aluminum castings.
Segments Overview:
The global aluminum casting market is segmented into product, methods, and industry applications.
By Product,
? Silicon
? Iron
? Copper
? Magnesium
? Zinc
The iron segment is projected to hold the highest growth rate of 7.1% over the forecast period. The copper segment is estimated to cross the mark of USD 20 billion by 2027.

By Methods,

? Die Casting
? Permanent Mold Casting
? Investment Casting
? Sand Casting
The die casting segment held the largest market share of more than 50% in 2021 as it is the most preferred method for aluminum casting.

By Industry Application,

? Aerospace
o Commercial Transport Planes
o Airframes
o Fuselages and Wings
o Space Station Shuttles/Structures
? Construction and Architecture
o Power Grids and Electrical Transmission Lines
o High Rise Buildings
? Site Furnishings (Removable Bollard Applications)
? Food and Beverage (cans)
? Electrical and Electronics Equipment
? Automotive
o Lightweight Aluminum Frames
o Body Panels
o Engines
o Sensor and Airbag Housings
o Seat Belt Retractor Spools
o Lock Barrels
o Connectors for Autonomous Vehicles
o Steering and Braking Systems
o Others
? Agriculture
? Crankcase Housings
? Others
The automotive segment held the largest market share of more than 35% in 2021. The electrical and electronics application segment is likely to cross the mark of USD 10 billion revenue by 2028.

Regional Overview

By region, the global aluminum casting market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America.

The North American market for aluminum casting is projected to hold an opportunity of USD 7.85 billion during 2022 to 2030. Moreover, the Asia Pacific industry for aluminum casting is likely to hold the highest growth rate of 7.5% over the forecast period. In addition to that, the European region is anticipated to grow at a steady growing rate owing to the rising awareness and increasing demand.
Competitive Landscape

Key players operating in the global aluminum casting market include Arkema SA, Alcast Technologies Ltd., Arrmaz, Dupont De Nemours Inc., BASF Corporation, Dynacast Deutschland GmbH, Huntsman Corporation, Honeywell International Inc., Ingevity Corporation, Kraton Corporation, Kao Corporation, MartinreaHonsel Germany GmbH, Sasol Limited, Nouryon, and others.

The key four players in the market hold approximately 25% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in December 2018, Continental, a Germany-based automaker, capitalized USD 25.65 million for setting up of a premium surface materials facility in India. This facility would possess a production capacity of 5 million square meters.

The global aluminum casting market report provides insights on the below pointers:

? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Aluminum casting market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing
? Manufacturing Cost Analysis: Cost-share of various components in aluminum casting, cost analysis of aluminum casting, unit cost analysis of aluminum casting
? Top EXIM Countries of Casting Machines
? Aluminum Die Cast Automotive Components
? Top Five Automotive Aluminum Die-Casting Parts Manufacturers
? World Auto Parts Die Cast Imports
? Status of the Aluminum Industry in Japan

The global aluminum casting market report answers questions such as:

? What is the market size and forecast of the global aluminum casting market?
? What are the inhibiting factors and impact of COVID-19 on the global aluminum casting market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global aluminum casting market?
? What is the competitive strategic window for opportunities in the global aluminum casting market?
? What are the technology trends and regulatory frameworks in the global aluminum casting market?
? What is the market share of the leading players in the global aluminum casting market?
? What modes and strategic moves are considered favorable for entering the global aluminum casting market?

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