Aluminum Casting Market- Global Industry Analysis and Forecast (2023-2029)

Aluminum Casting Market was valued at US$ 81.12 Billion in 2022. The Building & Construction is one of the segments reviewed in the MMR report dominating the global Aluminum Casting market.
Aluminum Casting Market Overview:
Development in the aluminum casting market can mainly be attributed to the rising involvement of aluminum in the transport segment, industrial segment & building & construction segment. There is a repeated demand from the automotive business as it assistances in fuel efficiency development & decreases environment degrading actions such as CO2 emission. These are the important influences pouring the demand for aluminum casting over the forecast period.



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COVID-19 Impact:

The COVID-19 epidemic has meaningfully impacted the aluminum sector globally, & it is difficult to determine the extent & harshness of the impression in the long term. The outburst of the Covid 19 disease caused in the shutdown of about 198,000 lively dental hospitals & hospitals in the United States. Aluminum sector was unfavorably impacted owing to the slump which triumphed after the outburst of the pandemic. The surprising fall & indecision in the values of aluminum before & after the COVID-19 epidemic has made 60 percent of smelters global experience losses.

The prolonged disturbance & affected supply chain will endure to have an influence on the aluminum sector during the forecast period. The rising end-users & companies of Europe & North America had to shut down the processes. As a consequence demand reduction of about 4.7 MMT. China, the hub of manufacturing for the world, was unfavorably impacted as it was the center for the epidemic outbreak. The manufacturing in the European region continued stable despite of the epidemic effect.
Aluminum Casting Market Dynamics:
Driver: Rising demand in the auto industry:

Increasing demand for energy effective & trivial vehicles has improved the demand for aluminum casting in businesses, primary to the replacement of iron and steel metals by aluminum cast produces. Optimal corrosion resistance, toughness, good appearance, & the low weight of aluminum have been prompting the auto market to be design-oriented.

Other features like electrical & current conductivity, trivial, whole recyclability, modest cost, & attractive appearance also effect the demand for aluminum casting. Sustainability & energy efficiency are other important factors prompting the development of the aluminum casting market.

The worldwide production of motor vehicles has improved YoY and has additional created chances for market development globally. According to MMR report study, in the year 2022, 77.9 Bn motor vehicles were manufactured around the world. The development in manufacturing was mostly attributed to Asia-Pacific countries like China, India, & Japan, which saw a major rise in automotive manufacturing. The growth in the engineering of motor vehicles globally is anticipated to, in turn, boost the demand for aluminum cast products in the automobile industry.

Restraint:

Magnesium is finding wide usage in applications where asset & low weight are the key requirements, & high-temperature tolerance features are given secondary prominence. Magnesium is measured among the brightest metals & weighs around two-third of that of aluminum. It is one of the most ample metals found in the ground’s crust & is substituting aluminum in the aerospace, automotive, & electronic industries owing to development in corrosion resistance of magnesium alloys & growth of new alloys. It is substituting aluminum in the aerospace & automotive industries owing to its relatively lower weight. The usage of magnesium assistances lower the weight of aircraft, therefore attaining fuel efficiency & lowering greenhouse gas emissions. The rising concerns about ecological defense & better recycling competences are anticipated to further push the demand for magnesium, which helps as a restraint for aluminum casting.

The aerospace sector has very high diffusion rate for carbon fiber mixtures; whereas the usage of glass fiber mixtures dominates the automotive sector. Although carbon fiber mixtures are highly expensive, the diffusion is still high in the luxury car sector. Magnesium alloys are also substituting high-strength aluminum alloys slowly owing to their high cost. The growths in composites & magnesium alloys are restrictive the development of the aluminum casting market.

Opportunity:

The usage of weight decrease in vehicles by substituting iron & steel auto parts with aluminum cast produces is leisurely one of the most appropriate alternates for almost a decade. The recycling properties of aluminum results in major economic aids for clients too, by way of whole return on the investment, improved life of the vehicle, & ecological benefits in terms of dropping fuel consumption. The replacement of traditional cast iron & steel by aluminum is a main influence in the application of lightweight components in the automobile sector. The motive behind this is the auto industry’s voluntary commitment to provision the Kyoto Protocol to achieve an average 25 percent decrease in fuel consumption, which came into result in the year 2005. The growing demand for lightweight vehicles, metal spare, & environmental worries are inducing the market for cast aluminum.

Challenges:

The procedure of converting raw bauxite into cast aluminum is energy exhaustive & needs high amounts of electricity, water, & other resources. An amazing amount of electricity is compulsory to find the final product from the pure aluminum ore. The United States, the 2nd largest manufacturer of cast aluminum, usages substantial amounts of coal as a fuel source for aluminum melting. Aluminum smelting & processing comprise CO2 & other infecting agents. According to the MMR report study, the release of per-fluorocarbons during the aluminum smelting procedure is 9,200 times more damaging than CO2 emissions. The raw material removal for aluminum casting removes all innate vegetation in the mining region, ensuing in a loss of situation & food for limited wildlife & important soil erosion. The acidic red mud & toxic mine tailings soil local water sources. The environmental effect of aluminum forming is adverse, affectation a challenge for the market.
Aluminum Casting Market Segment Overview:
Based on process type, market is segmented by die casting, sand casting & permanent mold casting. The die casting process sector had the major market share & also the fastest rising process section. The wide usage of die casting in the automotive segment it a more preferred method in almost each end-use application. It enables high cast & imparts the competence to mold dry cast into the wanted shape throughout the ongoing casting procedure. It delivers mass & rapid production & improved finish hence, turns out to be time & cost-efficient process. The sand casting procedure is used where trivial volume making is desired. Sand casting can also impart improved mechanical properties of sand-casted aluminum alloy. There is an important increase in the crucial strength, hardness, & elongation with improved the mold & pouring temperature. Permanent mold casting used recyclable mold which are made by metals.

The transportation segment controlled the market in terms of both value & volume. It is credited to the usage of aluminum casting into minor & big applications in the automotive segment. The government rules are getting strict with respect to releases. Also, there is an important surge in the demand for advanced fuel-efficient vehicles. These influences create aluminum casting a favored option for the transportation sector & are estimated to push the market further.
Aluminum Casting Market Regional Overview:
The Asia-Pacific region is expected to be the major market & is also anticipated to be the region with the highest CAGR over the forecast period. Nations such as China, India & Japan contribute mainly to the aluminum casting market. A surge in the construction sector is driving the market in the part. Asia-Pacific is helped by China as it is engineering hub of the world & is also a significantly big market size. The improved demand of consumer goods, invention in aerospace, are anticipated to drive the Asia-Pacific market forward over the forecast period.

The objective of the report is to present a comprehensive analysis of the Aluminum Casting Market to the stakeholders in the industry. The past and current status of the industry with the 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 include Market leaders, followers, and new entrants.

PORTER, 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 the Aluminum Casting Market dynamics, structure by analyzing the Market segments and project the Aluminum Casting Market size. Clear representation of competitive analysis of key players by Process, price, financial position, Process portfolio, growth strategies, and regional presence in the Aluminum Casting Market make the report investor’s guide.
Aluminum Casting Market Scope: Inquiry Before Buying



Aluminum Casting Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 75.57 Bn.


Forecast Period 2023 to 2029 CAGR:
7.35 %
Market Size in 2029:
US$ 133.28 Bn.


 Segments Covered:
by Process
Die Casting
Permanent Mold Casting
Sand Casting


by End-Use
Transportation
Industrial
Building & Construction



Aluminum Casting Market Segment Overview:
Based on process type, market is segmented by die casting, sand casting & permanent mold casting. The die casting process sector had the major market share & also the fastest rising process section. The wide usage of die casting in the automotive segment it a more preferred method in almost each end-use application. It enables high cast & imparts the competence to mold dry cast into the wanted shape throughout the ongoing casting procedure. It delivers mass & rapid production & improved finish hence, turns out to be time & cost-efficient process. The sand casting procedure is used where trivial volume making is desired. Sand casting can also impart improved mechanical properties of sand-casted aluminum alloy. There is an important increase in the crucial strength, hardness, & elongation with improved the mold & pouring temperature. Permanent mold casting used recyclable mold which are made by metals.

The transportation segment controlled the market in terms of both value & volume. It is credited to the usage of aluminum casting into minor & big applications in the automotive segment. The government rules are getting strict with respect to releases. Also, there is an important surge in the demand for advanced fuel-efficient vehicles. These influences create aluminum casting a favored option for the transportation sector & are estimated to push the market further.
Aluminum Casting Market Regional Overview:
The Asia-Pacific region is expected to be the major market & is also anticipated to be the region with the highest CAGR over the forecast period. Nations such as China, India & Japan contribute mainly to the aluminum casting market. A surge in the construction sector is driving the market in the part. Asia-Pacific is helped by China as it is engineering hub of the world & is also a significantly big market size. The improved demand of consumer goods, invention in aerospace, are anticipated to drive the Asia-Pacific market forward over the forecast period.

The objective of the report is to present a comprehensive analysis of the Aluminum Casting Market to the stakeholders in the industry. The past and current status of the industry with the 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 include Market leaders, followers, and new entrants.

PORTER, 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 the Aluminum Casting Market dynamics, structure by analyzing the Market segments and project the Aluminum Casting Market size. Clear representation of competitive analysis of key players by Process, price, financial position, Process portfolio, growth strategies, and regional presence in the Aluminum Casting Market make the report investor’s guide.
Aluminum Casting Market Scope:
Aluminum Casting Market, by region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Aluminum Casting Market Key Players
1 Ryobi Ltd.
2 Martinrea Honsel Germany GmbH
3 Gibbs Die Casting Corporation
4 Endurance Technologies Ltd.
5 Dynacast International Inc.
6 Consolidated Metco Inc.
7 Bodine Aluminum Inc.
8 Alcast Technologies Ltd.
9 Aluminum Corporation of China Ltd.
10 Alcoa Corporation
11 CAB Incorporated
12 DyCast Specialties Corp.
13 IQE, LLC
14 Alumicast, Inc.
15 Mardek, LLC

FAQ’S:

1) What is the share of the Global Market in 2022?
Answer: The Market was accounted for 81.12 Billion in the year 2022.

2) Which end use segment is dominating the  Market?
Answer: Building & Construction Industry is the dominating end use segment in the market.

3) What are the key players in the Market?
Answer: Ryobi Ltd., Martinrea Honsel Germany GmbH, Gibbs Die Casting Corporation
Endurance Technologies Ltd., Dynacast International Inc., Consolidated Metco Inc., Bodine Aluminum Inc., Alcast Technologies Ltd., Aluminum Corporation of China Ltd.Alcoa Corporation, CAB Incorporated, DyCast Specialties Corp., IQE, LLC, Alumicast, Inc.
Mardek, LLC.

4) Which factor acts as the driving factor for the growth of the Market?
Answer: The major factors for the growth of the Aluminum Casting market includes growing involvement of aluminum in the transportation sector, industrial sector and building & construction sector.