The global aluminum casting market size is expected to value at USD 97.36 billion by 2025. The market is subject to witness substantial growth due to the rise in the adoption of aluminum in the automobile sector by substituting heavy metals such as iron and steel. In addition, the increasing adoption of aluminum metal in the building & construction industry is anticipated to boost the demand of the market during the forecast period. Globally, the market is predicted to grow at a CAGR of 7.8% in the forecast period, providing numerous opportunities for market players to invest in research and development in the aluminum casting market.
The wide popularity of aluminum casting among various industries is credited to its exclusive features such as high strength and lightweight. The constant demand from the automotive industry for vehicle manufacturing to enhance fuel efficiency and limit carbon dioxide emission is a key driver for the growth of the aluminum casting market in recent years. One of the widely popular segments of the aluminum casting market is die casting. The increasing adoption of a die casting in the automotive industry is due to factors such as high efficiency, and its ability to mold dry cast into any shape and size during the casting processes.
Aluminum casting has become vital during the production of vehicle parts similar to engine cylinders, engine blocks, gears boxes, rims, and wheel spacers. Increasing demand from the automotive and transport industry is expected to fuel the growth of the aluminum casting market in the coming years. Furthermore, increasing demand for lighter vehicles and improved fuel efficiency by end-users is expected to trigger the growth of the aluminum casting market over the forecast period. Aluminum is an ideal substitute for heavy metals such as iron and steel as it limits the emission of carbon dioxide into the atmosphere. Increasing demand from the building & construction sector is further attributed to the expansion of the aluminum casting market.
Die casting is considered one of the fastest-growing segments in the aluminum casting market with the highest revenue generation in the last few years. Rising demand from the automotive sector and numerous advantages of die casting are major drivers for the growth of the die casting market segment. The die casting offers high strength to the automobile parts as no additional welding is needed. Lower cost and ease of operation during manufacturing are further amplifying demand of the die casting market segments.
Aluminum castings offer numerous benefits such as the ability to mold to any net shape, maximizing the overall manufacturing output with minimum resources for further processing. Such advantages are important in end-user industries. Aluminum casting is a process in which aluminum is melted inside of a furnace or ladle then added into a deep mold, commonly made from sand or other material. During the casting process, a sand mold is used only one time while the aluminum mold or a die can be used multiple times to achieve the exact shape of the casting material. Aluminum is one of the widely utilized casting metals. The adoption of the latest methodologies such as pressure die-casting, permanent die-casting, sand die-casting, plaster die-casting, and investment casting are utilizing less quantity of aluminum in comparison with traditional casting processes.
The market is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America and European region have shown major growth in recent years owing to stringent laws and regulations regarding excess carbon emission, and existence well-established industrial infrastructure. Asia-Pacific region is predicted to hold a major market share in the aluminum casting market with massive growth in the forecast period. Countries such as India and China are leading the Asia-Pacific market with easy availability of cheap and skillful labor coupled with increasing investment by prominent industry players considering potential opportunities in the region.
The key players in the aluminum casting industry are Alcoa Co., AlcastHQ Ltd., Ryobi Tools Ltd., Dynacast International, Inc., Consolidated Metco, Inc., Martinrea Honsel Inc., and Gibbs Die Casting Co.
Process Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
• Die Casting
• Permanent Mold Casting
• Other Castings
End-Use Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
• Building and Construction
Regional Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
• North America
• the U.S.
• the Asia Pacific
• South Korea
• South & Central America
• the Middle East and Africa
• South Africa
Research Support Specialist, USA
FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...