Trusted Business Insights presents the Latest Study on Aluminum Die Casting Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global aluminum die casting market size was valued at USD 24.91 billion in 2018 and is expected to register a CAGR of 10.1% from 2019 to 2025. Demand from growing building and construction sector and increasing aluminum content in vehicles are the key drivers. Increasing adoption of high-strength and lightweight castings, specifically in the auto sector is projected to propel the demand for finished products. Manufacturers are focusing on such products owing to compliance norms of fuel efficiency as per the directives given by regulatory authorities of U.S. and Europe.
U.S. and China are the key choices for this new expansion plan by manufacturers. For instance, Ta Chen International Inc. is expected to add new casting mill in U.S. by 2022. Similarly, China Zhongwang Holdings Ltd. is likely to add a new casting facility in the Chinese province of Liaoning by 2019. The use of pure aluminum is rare due to the high cost of extraction. Secondary aluminum is widely preferred across the industry, as it is economical and offers customization as per the specific application or end use. In addition, recycled aluminum has widely gained popularity among the buyers, as the customers are demanding for products with low carbon footprint. Leading companies in the market have introduced new technologies that are expected to transform the industry over the forecast period. For consistent designing and processes, Computer-Aided Process Planning (CAPP) systems are now becoming a norm in the industry. CAPP systems help link manufacturing and design. Computer Aided Three-Dimensional Analysis (CATIA) is used in many leading foundries.
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The transportation sector is one of the primary industries for the growth of the aluminum die casting market. Within the transportation segment, lightweight vehicles are considered to be the key driver for growth in the forthcoming years. Automakers in different countries are focusing on lightweight vehicles. For instance, top OEMs in India, such as Tata Motors, Mahindra & Mahindra, Eicher Motors, and Ashok Leyland, are exploring possibilities to develop energy efficient vehicles by using aluminum. The transportation sector accounted for 61.5% of revenue share in 2018.
Government initiatives to boost the auto sector around the world are projected to assist the market growth.For instance,Canadian government initiatives such as the Automotive Supplier Innovation Program, helps the automotive suppliers in their product and process innovations. In order to create the program, the government proposed an Economic Action Plan that provides USD 100 million over five years from 2015-2016 to reduce the costs incurred on R&D activities and innovations. This initiative also supports the Automotive Innovation Fund by strengthening Canadas components supply base and supporting automotive R&D in the country. In terms of volume, the consumer durables segment is projected to expand at a CAGR of 10.8% from 2019 to 2025. Aluminum die cast products are used in cameras, laptops, smartphones, flat screen TVs, furniture, and sporting equipment, among others. Electronics manufacturers including Sony, LG, and Philips have successfully replaced steel and plastic with aluminum.
Regional Insights Asia Pacific was the largest region accounting for nearly 45% of the market share in 2018.Increasing demand for automobiles in countries such as China and India is projected to drive the growth over the forecast period. Advantages such as cheap labor costs in China and India encourage manufacturers to set up production facilities in the region. The regional production of automotive vehicles held 54.8% of the total motor vehicles production in 2018 as per the study published by the OICA. Central and South America aluminum die casting held a volume share of 6.1% in the global market in 2018 and is projected to expand at a CAGR of 4.1% from 2019 to 2025. In 2017, the government of Colombia eliminated import tariffs on up to 1,500 electric vehicles by 2019 and will increase up to 3,000 electric vehicles by 2023. North America was valued at USD 4.43 billion in 2018 and is anticipated to exhibit strong growth over the forecast period. The regional demand is driven by growing output from construction and automotive sector. As per the U.S. Census Bureau, construction spending was valued at USD 1,314.6 billion in 2018. Aluminum Die Casting Market Share Insights In an attempt to gain a competitive edge, the market players have started focusing on inorganic growth strategies. For instance, In March 2017, Consolidated Metco, Inc. announced its partnership with Protean Electric to develop electric in-wheel drive systems, which will be used in medium- and heavy-duty commercial vehicles. Market participants include Alcoa Corporation; Walbro; Dynacast; Gibbs Die Casting Corporation; Ryobi Ltd.; Consolidated Metco, Inc.; Bodine Aluminum, Inc.; Martinrea Honsel Germany GmbH; and Alcast Technologies.
Key Insights Covered: Global Aluminum Die Casting Market 1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Aluminum Die Casting industry. 2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Aluminum Die 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 Die Casting industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aluminum Die Casting industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Aluminum Die Casting industry.
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