Aluminum Casting Market to Grow at 5.82% CAGR Driven by Automobile Industry to 2020
The Global Aluminum Casting Market 2016 – 2020 is a new research report added to ReportsnReports.com. Aluminum casting market report presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market.
India – March 9, 2016 /MarketersMedia/ —
This new report on global aluminum casting market is an in-depth analysis by process (die casting, permanent molding, and others) and by application (aerospace and marine, automobiles, building and construction, power and hand tools, telecom, heavy machinery and industrial, and others).
Many countries are implementing stringent manufacturing standards to reduce the impact on the environment. These regulations compel manufacturers to use technologies that reduce harmful emissions into the environment. For instance, the US EPA limits carbon dioxide emissions to 1,000 pounds per megawatt hour of electricity produced to reduce GHG emissions.
Complete report on aluminum casting market spread across 58 pages, analyzing 6 major companies and provides 41 data exhibits is now available at http://www.rnrmarketresearch.com/global-aluminum-casting-market-2016-2020-market-report.html.
The analysts forecast global aluminum casting market to grow at a CAGR of 5.82% during the period 2016-2020. According to the Global Aluminum Casting Market 2016 – 2020 report, growth of automobile industry drives the global aluminum casting market during the forecast period. Aluminum is preferred over other metals such as steel for casting in the automobile industry due to its lightweight property. This helps in reducing fuel consumption and emissions. Aluminum is easily recyclable and resistant to corrosion, ensuring sustainability and durability of the vehicles. Automobile components such as transmission housings, cylinder heads, crankcases, and engine blocks are manufactured using aluminum casting.
In this market study, analysts have estimated the aluminum die casting segment to be the largest market segment during the predicted period. This segment currently accounts for more than 51% of the total market share and is anticipated to further enhance its hold over the market by 2020 owing to its cost effectiveness. The ability of this process to enable dimensional stability in complex shapes and thin surfaces will foster its adoption during the forecast period.
Order a copy of Global Aluminum Casting Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=494926.
The aluminum casting market research analyst has estimated the automobiles segment to account for approximately 55% of the total market share by 2020. The growing demand for fuel-efficient and lightweight vehicles will drive the utilization of aluminum casting in the automobile industry. Also, the introduction of stringent regulations to reduce carbon emissions will force automotive manufacturers to use materials like aluminum as they help to reduce emissions by decreasing the overall weight of the vehicle.
The global aluminum casting market is highly fragmented owing to the presence of many well-diversified international and regional providers. These vendors provide cost-effective casting products with limited functional capabilities. To stay competitive in this market, vendors have to invest in developing new technologies and have to stay abreast of emerging technologies that could have a bearing on their product lines.
Main players in aluminum casting market are Alcast Technologies, Alcoa Howmet, Consolidated Metco, Dynacast International, Gibbs Die Casting and Ryobi. Other Prominent Vendors in the market are: Bodine Aluminum, Martinrea Honsel Germany, and Leggett & Platt.
Further, the report states that the high power cost increases the production cost of aluminum, leading to a rise in the cost of downstream products and affecting the profit margins for vendors.
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