- March 2020 |
- Chemicals And Materials / Chemicals and Materials
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
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.
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...