Aluminum Casting Market 2021-2025 | Industry Analysis by Growth, Trends, Demand, Challenges, Business Development, End Usre, Expected CAGR & Manufacturers
Global aluminum casting market was valued at USD 71.84 billion in 2019. The market is attributed to grow at a CAGR of 7.25% over the forecast period of 2019 to 2025.
Dallas, United States – May 28, 2021 /MarketersMedia/ —
Cast aluminum is also known as tempered aluminum because it is non-toxic. Aluminum is lightweight and has excellent thermal, strength, and electrical conductivity, as well as superb workability, mild reflectivity, and a pleasing look, making it the material of choice for casting over iron and steel. Aluminum is increasingly being used in a variety of end-use applications, and this is a major driver of the global aluminum casting industry’s success. With the growth of the automobile industry, demand for aluminum casting in the general transportation market is projected to rise.
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In the United States, rising demand for general utility and sports utility vehicles is expected to fuel commodity demand. According to LMC Automotive, an automotive consulting company, the United States will definitely have more than 90 standard SUV models by 2023. Furthermore, car manufactures in the country are increasingly under pressure to satisfy regulatory standards related to automotive environmental effects.
Aluminum casting is finding new applications in building equipment, agriculture machinery, mining equipment, and other heavy-duty machinery. The development of these types of machinery can largely be traced to emerging economies like India and Brazil, where there is a pressing need to modernize equipment in order to increase productivity and production. India is one of the major producers of farm machineries such as tillers, tractors, and harvesters.
Die casting demand for automotive aluminum casting components is likely to grow in tandem with the global automobile industry’s growth. Owing to its lightweight, mild melting point, and corrosion-resistant properties, aluminum is one of the most favored metals in die castings, followed by magnesium, zinc, copper-aluminum alloy, and zinc-aluminum alloy. The strong demand for aluminum die casting by end-users can be attributed to a variety of benefits, including high dimensional precision and the ability to mold and manufacture thin wall parts. These trends are projected to boost the die casting segment’s share of the aluminum casting industry.
The global aluminum casting market is categorized based on process and end use. Region wise, Asia Pacific was the largest market in 2018, and is anticipated to grow at a significant CAGR over the forecast period. North America is expected to grow at a significant rate over the coming years.
Key players serving the global aluminum casting market include Alcoa Inc., United Company Rusal, Aluminum Corporation of China Limited, Ryobi Limited, Arconic Inc., Rio Tinto, China Hongqiao Group Limited, Dynacast Charlotte, Gibbs Die Casting Corp, and Nemak S.A.B. De C.V. among others.
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Major Points From TOC:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Aluminum Casting Market by Process
Chapter 6 Aluminum Casting Market by End-Use
Chapter 7 Aluminum Casting Market by Region
Chapter 8 Company Profiles
8.1 Alcoa Corporation
8.2 Ryobi Limited
8.3 Aluminum Corporation of China Limited
8.4 Rio Tinto
8.5 United Company Rusal
8.6 China Hongqiao Group Limited
8.7 Arconic Inc.
8.8 Gibbs Die Casting Corp
8.9 Dynacast Charlotte
8.10 Nemak, S.A.B. De C.V.
Chapter 9 Competitive Landscape
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