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Aluminum Casting Market Research Report 2023

Aluminum Casting Market By Process (Die Casting, Sand Casting, Permanent Mold Casting), End-Use Sector (Transportation Sector, Building & Construction Sector, Industrial Sector), and Region Global Market Analysis and Forecast, 2023-2030

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Report ID: 69

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Summary TOC Segmentation Methodology

Aluminum Casting Market Synopsis

The Global Aluminum Casting Market size was valued at USD 77526 Million in 2023 and is projected to reach USD 146000 Million by 2030, growing at a CAGR of 9.50% from 2023 to 2030.

The aluminum casting market refers to the global industry involved in the production and distribution of aluminum castings. Aluminum casting is a manufacturing process that involves pouring molten aluminum into a mold to create various components and products.

  • Aluminum casting offers several advantages, including lightweight, excellent corrosion resistance, high thermal conductivity, and good mechanical properties. These characteristics make it a preferred choice for a wide range of applications in various industries such as automotive, aerospace, construction, and consumer goods.
  • The aluminum casting market has experienced significant growth over the years, driven by factors such as increasing demand for lightweight materials in the automotive industry to improve fuel efficiency and reduce emissions. Additionally, the rising demand for aluminum castings in the aerospace sector for aircraft components and structures has also contributed to market growth.
  • Moreover, the construction industry has witnessed a surge in the use of aluminum castings due to their durability and versatility in architectural applications. The consumer goods sector, including household appliances and electronics, also utilizes aluminum castings for their aesthetic appeal and functional properties.

Top Key Players Involved Are:

"Alcoa Corporation (US), Arconic Inc. (US), Nemak (Mexico), Ryobi Limited (Japan), Dynacast International (US), Endurance Technologies Limited (India), Gibbs Die Casting Corporation (US), Martinrea International Inc. (Canada), Consolidated Metco Inc. (US), Pace Industries (US), Rheinmetall Automotive AG (Germany), Laufenberg GmbH (Germany), Bodine Aluminum Inc. (US), Alcast Technologies Ltd. (Canada), NovaCast Ltd. (UK), Cast-Fab Technologies Inc. (US), Metal Technologies Inc. (US), Nemak Linz GmbH (Austria), Dynacast Mexico (Mexico), Aluminum Precision Products (US) and Other Major Players."

Aluminum Casting Market

Aluminum Casting Market Trend Analysis

Lightweight and Sustainable Materials Demand

  • Industries such as automotive and aerospace are under increasing pressure to improve fuel efficiency and reduce emissions. By replacing heavier materials with aluminum castings, manufacturers can achieve weight reduction in vehicles and aircraft, leading to improved fuel economy and reduced carbon dioxide emissions.
  • Moreover, governments and regulatory bodies are implementing stringent regulations to curb greenhouse gas emissions and promote sustainable practices. For instance, automotive emission standards and regulations such as Corporate Average Fuel Economy (CAFE) standards in the United States and Euro emission standards in Europe are pushing automakers to adopt lightweight materials like aluminum castings to meet the requirements.
  • In addition to this, the growing renewable energy sector, including wind and solar power, demands lightweight and sustainable materials for infrastructure components. The lightweight properties of aluminum castings facilitate ease of installation and transportation while reducing the environmental impact of renewable energy systems.
  • In conclusion, the demand for lightweight and sustainable materials, including aluminum castings, is driven by factors such as fuel efficiency requirements, stringent regulations, the growth of electric and hybrid vehicles, the renewable energy sector, recyclability, and consumer preferences for eco-friendly products. These factors are shaping the aluminum casting market and driving its adoption across various industries.

Growing Automotive Industry

  • The automotive industry is increasingly focused on weight reduction to improve fuel efficiency, meet emissions regulations, and enhance overall performance. By replacing heavier components with aluminum castings, automakers can achieve weight reduction without compromising structural integrity, leading to improved fuel economy and reduced emissions.
  • Also, the rise of electric and hybrid vehicles further increases the demand for lightweight materials in the automotive sector. As the electric vehicle market expands, the demand for aluminum castings in components such as motor housings, battery enclosures, and structural components is expected to grow.
  • Additionally, aluminum castings provide excellent durability and safety characteristics, making them ideal for automotive applications. Aluminum castings also exhibit excellent corrosion resistance, reducing the risk of rust and extending the lifespan of automotive components.
  • Hence, the growing automotive industry presents an opportunity for the aluminum casting market due to the industry's increasing focus on lightweight solutions, the rise of electric and hybrid vehicles, the durability and safety advantages of aluminum castings, design flexibility, cost-effectiveness, and the growth of the automotive sector in emerging economies. Aluminum castings offer a range of benefits that align with the evolving needs and priorities of the automotive industry.

Segmentation Analysis of Aluminum Casting Market

Aluminum Casting Market segments covers the Process, End-Use Sector. By Process, the Die Casting segment is Anticipated to Dominate the Market Over the Forecast Period.

  • Die casting offers high production efficiency and productivity, making it a preferred choice for large-scale manufacturing. The process allows for fast cycle times, enabling the production of a large number of aluminum castings within a short period.
  • Also, Die casting enables the production of aluminum castings with intricate shapes, complex geometries, and tight dimensional tolerances. The high-pressure nature of the process allows for the replication of fine details and the production of components with precise dimensions
  • Additionally, Die casting delivers aluminum castings with excellent surface finish and dimensional consistency. The high pressure exerted during the process ensures that the molten aluminum fills the mold completely and uniformly, resulting in smooth and aesthetically pleasing castings.
  • Overall, the die casting process's efficiency, capability to produce complex geometries, excellent surface finish, strength and durability, cost-effectiveness, and wide range of applications contribute to its dominance in the aluminum casting market over the forecast period.

Regional Analysis of Aluminum Casting Market

Asia Pacific is Expected to Dominate the Market Over the Forecast Period.

  • Asia Pacific is experiencing rapid industrialization, particularly in countries like China and India. The region has emerged as a major manufacturing hub for various industries, including automotive, aerospace, construction, and consumer goods. This industrial growth drives the demand for aluminum castings, as they are widely used in these sectors for their lightweight and durable properties.
  • The automotive industry in the Asia Pacific is witnessing significant growth, driven by rising incomes, urbanization, and increased consumer demand. Countries like China, India, Japan, and South Korea are major automotive manufacturing and consumption markets.
  • Also, Asia Pacific is experiencing extensive infrastructure development, including the construction of residential buildings, commercial complexes, and transportation infrastructure. Aluminum castings are widely used in the construction sector for applications such as structural components, architectural elements, and fittings. The region's construction boom contributes to the demand for aluminum castings. As well as Asia Pacific offers a favorable manufacturing ecosystem characterized by low labor costs, abundant raw materials, and a well-established supply chain.
  • Given these factors, Asia Pacific is expected to dominate the aluminum casting market over the forecast period, driven by rapid industrialization, automotive industry growth, infrastructure development, a thriving aerospace sector, manufacturing competitiveness, and supportive government policies.

Volume of Global Casting Production in 2020

                                                                                                                                                                                                 Source – Statista

China ranks 1st volume of global casting production in the year 2020 with a massive production of 51.95 million metric tons. India is 2nd ranked country with several 11.31 million metric tons of casting production. As both top countries are in the APAC region which can be anticipated to dominate the market.

Covid-19 Impact Analysis on Aluminum Casting Market

  • The pandemic led to disruptions in global supply chains, including the availability of raw materials and components required for aluminum casting production. Lockdown measures, restrictions on international trade, and reduced transportation capacity affected the timely delivery of raw materials, causing production delays and interruptions.
  • The automotive, aerospace, and construction industries, major consumers of aluminum castings, were severely impacted by the pandemic. Production shutdowns, reduced consumer spending, and delayed projects resulted in a significant decline in demand for aluminum castings. Automotive manufacturers temporarily halted production, leading to a decrease in orders for aluminum components.
  • Additionally, aluminum casting facilities faced operational challenges due to the pandemic. Social distancing measures and workplace safety protocols resulted in reduced production capacities and efficiency. Workforce shortages, as employees fell ill or were unable to work due to lockdown measures, further affected production levels.

Top Key Players Covered in Aluminum Casting Market

  • Alcoa Corporation (US)
  • Arconic Inc. (US)
  • Nemak (Mexico)
  • Ryobi Limited (Japan)
  • Dynacast International (US)
  • Endurance Technologies Limited (India)
  • Gibbs Die Casting Corporation (US)
  • Martinrea International Inc. (Canada)
  • Consolidated Metco Inc. (US)
  • Pace Industries (US)
  • Rheinmetall Automotive AG (Germany)
  • Laufenberg GmbH (Germany)
  • Bodine Aluminum Inc. (US)
  • Alcast Technologies Ltd. (Canada)
  • NovaCast Ltd. (UK)
  • Cast-Fab Technologies Inc. (US)
  • Metal Technologies Inc. (US)
  • Nemak Linz GmbH (Austria)
  • Dynacast Mexico (Mexico)
  • Aluminum Precision Products (US), and Other Major Players.

Key Industry Developments in Aluminum Casting Market

In May 2023, Alcoa and Emirates Global Aluminium (EGA) announced a new multi-year agreement for Alcoa to supply EGA with smelter-grade alumina. Over the life of the 8-year agreement, which commences in 2024, volume options will allow EGA to procure as much as 15.6 million metric tons of alumina from Western Australia.

In March 2023, Martinrea Innovation Developments Inc. announced NanoXplore’s purchase of Martinrea Innovation’s 50% equity stake in VoltaXplore Inc. for an aggregate equity consideration of $10 million on March 24, 2023.

Global Aluminum Casting Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2016 to 2021

Market Size in 2023:

USD 77526 Mn.

Forecast Period 2023-30 CAGR:

9.50% 

Market Size in 2030:

USD 146000 Mn.

Segments Covered:

By Process

  • Die Casting
  • Sand Casting
  • Permanent Mold Casting

By End-Use Sector

  • Transportation Sector
  • Building & Construction Sector
  • Industrial Sector

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Frequently Asked Questions

What would be the forecast period in the Aluminum Casting Market research report?

The forecast period in the Aluminum Casting Market research report is 2023-2030.

Who are the key players in Aluminum Casting Market?

Alcoa Corporation (US), Arconic Inc. (US), Nemak (Mexico), Ryobi Limited (Japan), Dynacast International (US), Endurance Technologies Limited (India), Gibbs Die Casting Corporation (US), Martinrea International Inc. (Canada), Consolidated Metco Inc. (US), Pace Industries (US), Rheinmetall Automotive AG (Germany), Laufenberg GmbH (Germany), Bodine Aluminum Inc. (US), Alcast Technologies Ltd. (Canada), NovaCast Ltd. (UK), Cast-Fab Technologies Inc. (US), Metal Technologies Inc. (US), Nemak Linz GmbH (Austria), Dynacast Mexico (Mexico), Aluminum Precision Products (US) and Other Major Players.

What are the segments of the Aluminum Casting Market?

The Aluminum Casting Market is segmented into Process, End-Use Sector, and region. By Process, the market is categorized into Die Casting, Sand Casting, Permanent Mold Casting. By End-Use Sector, the market is categorized into Transportation Sector, Building & Construction Sector, Industrial Sector. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia Pacific (China; India; Japan; South Korea; Malaysia; Thailand; Vietnam; The Philippines; Australia; New-Zealand; Rest of APAC), Middle East & Africa (Turkey; Bahrain; Kuwait; Saudi Arabia; Qatar; UAE; Israel; South Africa), South America (Brazil; Argentina; Rest of SA)

What is the Aluminum Casting Market?

The aluminum casting market refers to the global industry involved in the production and distribution of aluminum castings. Aluminum casting is a manufacturing process that involves pouring molten aluminum into a mold to create various components and products. Aluminum casting offers several advantages, including lightweight, excellent corrosion resistance, high thermal conductivity, and good mechanical properties. These characteristics make it a preferred choice for a wide range of applications in various industries such as automotive, aerospace, construction, and consumer goods.

How big is the Aluminum Casting Market?

The Global Aluminum Casting Market size was valued at USD 77526 Million in 2023 and is projected to reach USD 146000 Million by 2030, growing at a CAGR of 9.50% from 2023 to 2030.

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