Aluminum Casting Market Size, By Type (Die casting, Permanent mold casting, Sand casting) By End-User (Transportation, Industrial, Building & Construction, Others (Household appliances, engineering tools, and telecom)) and, By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26
Published:
March 2020
Report Code:
BWC19421
Available Format:
PDF PDF Icon
Pages:
185

aluminum casting market bwc19421

Global Aluminum Casting Market Forecast and Trends

The global aluminum casting market has reached USD 64.10 Billion in 2019 and estimated to witness market size of 104.12 Billion USD in 2026, at a CAGR of 7.2% during forecast period.

The growing use of aluminum is majorly used in various end-use applications is a significant factor driving the growth of the global aluminum castings market across the globe. The lightweight property of aluminum contributes to substantial cost savings, which is another major factor supporting the growth of the market. Rising construction activities and increasing demand for lightweight automobiles are other factors which are fueling the growth of the market during the forecast period of 2026.

Global Aluminum Casting Market Overview:

Cast aluminum is also called as tempered aluminum, which is not harmful in nature. Aluminum is light in weight, and possess high thermal, excellent strength, and electrical conductivity, superior workability, high reflectivity, and attractive in appearance, due to which aluminum is preferred majorly over the iron and steel as casting material. There are two types of aluminum logs, which are currently available in the market, i.e., primary consisting of pure aluminum, and secondary consisting of scrap and prime. Aluminum castings produced by a metalworking process known as aluminum casting process in which liquid aluminum and aluminum alloys are poured into molds with desired details and shape. Three types of aluminum castings are made by three casting processes which include die casting, sand casting, and permanent mold casting. Casting of raw materials into the products is an old technique which was first observed in the later period of the 19th century. Over the period, many technical advancements were achieved in terms of quality, production, efficiency, and others. Moreover, the basic principle of pouring molten metal into a mold and replicating the desired pattern is the same.

Growth drivers

The Increasing Demand of lightweight materials

The rising demand for lightweight materials is helping in the growth of aluminum across the in aluminum casting market. Aluminum is about one third of the weight of steel, making it cheaper and easier to transport than other metals. Aluminum strength can be modified using various alloy elements to provide advantages that include higher strength or easier formability. Key functional properties such as lightweight nature, ease of manufacture, corrosion resistance, and aluminum sheets are used by the company for projects such as car paneling, building cladding, artwork, and kitchen fittings, among other applications.

Due to its recycling ability, the demand for aluminum casting is growing

Another driver on the aluminum casting market is its potential to recycle. As a result of recycled aluminum, demand for the global aluminum market is growing due to strict government regulations on waste-reduction recycling, especially in developed economies, which are contributing to the growth of the aluminum casting market in the 2026 forecast period across the globe.

Restraints

The Increasing Import Tariffs

The rising of import tariffs and price of raw material on aluminum across the globe is estimated to hinder the demand for aluminum casting market. The traditional practice of aluminum casting required lower costs. In addition, increased trade duties are estimated to affect the cost of aluminum castings. The tariffs reduced the quantity of aluminum goods brought into U.S and made them more expensive, allowing domestic producers to expand output and increase sell prices.

Global Aluminum Casting Market: Type

Based on type, the aluminum casting market segmented into Die casting, Permanent mold casting, Sand casting. Among various types, Die casting market is estimated to dominate the market during the forecast period of 2026, due to the steady demand in the automotive sector. Die casting offers cost-saving opportunities when facing the difficulty of substituting products such as plastics and steel. The growing demand for cast products in the automotive industry has led to the growth of the segment. The use of aluminum products in powertrains and automotive structural components is steadily increasing. The process of die-pressure can be performed through low or high pressure. High-pressure die casting (HPDC) is idly handled for higher production rates and is commonly used in various industries.


Global Aluminum Casting Market: End-User

Based on End-User, the aluminum casting market segmented into Transportation, Industrial, Building & Construction, Others (Household appliances, engineering tools, and telecom. The is considered as the vital factor which fueling the growth for construction equipment over the coming years.

Global Aluminum Casting Market: Regional insights

Based on the region, the aluminum steel market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific market is expected to dominate the global aluminum casting market during the forecast period due to the highest growth in vehicle production in the region, coupled with the steady development of the automotive sector. North America is composed to exhibit a high rise due to strict emission rules in the U.S. and the growth of the industrial industry in Mexico. The Growing use of aluminum in vehicle manufacturing has a positive and direct impact on the demand for the cast products across the globe.


Aluminum Casting Market: Competitive Landscape

The major market players in the aluminum casting marketss are Alcoa Corporation, Ryobi Limited, Rio Tinto, Aluminum Corporation of China Limited, United Company Rusal, China Hongqiao Group Limited, Arconic Inc., Gibbs Die Casting Corp, Dynacast Charlotte, Nemak S.A.B. de C.V., Kaiser Aluminum, Honsel Germany GmbH, Martinrea Honsel Germany GmbH, Endurance Technologies Limited, Consolidated Metco, Inc., Dynacast Charlotte, Bodine Aluminum Inc., Alcast Technologies Ltd., Walbro, and Other Prominent Players are expanding their presence in the market by implementing various innovations and technology.

Recent Developments:

In February 2020, STAS and Rio Tinto today announced an agreement to commercialize an advanced compact filtration technology (ACF) for aluminium cast houses. The ACF technology developed by Rio Tinto will now be manufactured and sold under license by equipment manufacturer STAS worldwide.

In November 2019, Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that, effective November 1, 2019, it will implement a new operating model that will result in a leaner, more integrated, operator-centric organization that accelerates the Company’s strategic priorities.

In July 2019, Alcoa Corporation, today announced the completion of a transaction with private equity investment firm PARTER Capital Group AG, based in Schindellegi, Switzerland, for that firm to acquire Alcoa’s Spanish subsidiaries that own and operate the Avilés and La Coruña aluminum plants in Spain.

The objective of the Study:

To analyze and forecast the global Aluminum casting market size of the market, in terms of value.

To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Aluminum casting market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America and their leading countries.

To outline, categorized and forecast the global Aluminum casting market based on the type, end-user, and region.

To examine competitive developments like technological advancement, services, and regulative framework within the global Aluminum casting Market.

To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million/Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Type, By End-User and Region

Key Players

Alcoa Corporation, Ryobi Limited, Rio Tinto, Aluminum Corporation of China Limited, United Company Rusal, China Hongqiao Group Limited, Arconic Inc., Gibbs Die Casting Corp, Dynacast Charlotte, Nemak S.A.B. de C.V., Kaiser Aluminum, Honsel Germany GmbH, Martinrea Honsel Germany GmbH, Endurance Technologies Limited, Consolidated Metco, Inc., Dynacast Charlotte, Bodine Aluminum Inc., Alcast Technologies Ltd., Walbro, and Other Prominent Players

By Type

·         Die casting

·         Permanent mold casting

·         Sand casting

By End-User

·         Transportation

·         Industrial

·         Building & construction

·         Others (Household appliances, engineering tools, and telecom)

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

Why Choose us

  • 24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Coustom Research Service

    Ask the Analyst to customize an exclusive study to serve your research needs.

  • Quality & Accuracy

    offers best quality reports based on various authentic and accurate data findings.

  • Data Visualization

    As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization

  • Information security

    We never share your personal and confidential information. Your personal information is safe and secure with us.