The global Aluminum Die Casting market is forecasted to reach USD 57.85 Billion by 2027, according to a new report by Reports and Data. The growing construction industry is likely to fuel the growth of the market. It is also expected that a significant increase in commercial and residential construction will boost demand for aluminum die casting in the next few years. Rapid urbanization has generated a wave of renovation and remodeling activities, increasing demand for aluminum in the construction industry. Along with growing investments in the construction industry, the rise in infrastructure to keep up with lifestyle changes contributes to increased demands. Product innovation and customization are just a few parameters which drive market growth and increase
Owing to the high precision imparted by this method, aluminum die casting is a natural process for casting aluminum around the globe. Aluminum is a metal that is 2.5 times lighter than steel, the primary trigger expected to improve the salted time aluminum die casting market. Growing adoption of high-strength and lightweight castings is projected to drive demand for finished products, particularly in the automotive sector. Owing to fuel efficiency regulations, manufacturers depend on these goods.
Industrial Internet of Things (IIoT) and Industry 4.0 are new aluminum die casting technologies. Industrial IoT provides advantages in different fields, such as performance, new business models, new revenue streams, and compliance with risk management and health.
Although several parameters can create visible growth, other factors can restrict the casting market for aluminum die. One of the significant disadvantages of aluminum die casting is the imprisonment of aluminum gasses due to porosity that can cause product distortion and can result in product damage.
The COVID-19 impact:
With the slowdown in global economic growth, the aluminum die casting industry also suffered some impact. Still, it maintained a relatively positive performance, and analysts believe that the size of the market will be further expanded in the next few years, the pandemic’s debilitating effect has delayed demand resumption, both domestic and overseas. With a contribution of more than 50% of aluminum consumption, the decline in the transport and construction industries has had a significant impact on the price of aluminum. Small foundries are helping their suppliers to open their factories and start changing the economic situation from the butterfly effect.
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Key participants include Walbro, Alcoa Corporation, Gibbs Die Casting Corporation, Dynacast, Consolidated Metco Inc., Ryobi Ltd., Bodine Aluminum Inc., Matinea Honsel Germany GmbH, Aluminum Corporation of China Ltd., and Alcast Technologies among others.
Further key findings from the report suggest
- Asia Pacific was the largest region, with nearly 47.4% market share in 2019. Rising demand for cars in countries such as China and India is expected to drive growth over the forecast period. Advantages such as cheap labour costs in China and India are encouraging manufacturers to establish regional production facilities.
- Policy programs to promote the automotive industry around the world are intended to encourage business growth. For example, Canadian government programs such as the Automotive Supplier Development Program aid automotive suppliers with their production technologies and processes.
- Aluminum helps to monitor the temperature around the battery modules in warm or cold weather by using its thermal transfer capabilities. Thus, the transport segment from aviation to the automobile will drive the growth in demand for aluminum die casting during the forecast era.
- The aluminum has an excellent resistance to corrosion, which provides a significant boost for the market in industries where casting parts are required to be used in humid and humid environments. It is also anticipated that the sustainable cost reduction due to the fair price of aluminum die-casting items would provide a significant increase in the market size.
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For the purpose of this report, Reports and Data have segmented into the global Aluminum Die Casting market-based on the production process, chamber process, end-user, and region:
Production Process Outlook (Revenue, USD Billion; 2017-2027)
- Pressure Die Casting
- High-Pressure Die Casting
- Low-Pressure Die Casting
- Others
Chamber Process Outlook (Revenue, USD Billion; 2017-2027)
- Hot Chamber Aluminum Die Casting
- Cold Chamber Aluminum Die Casting
End-user Outlook (Revenue, USD Billion; 2017-2027)
- Automotive & Aviation
- Pumps & Valve
- Industrial Components
- Construction
- Packaging
- Others
Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Point Summary of the Report:
The global Aluminum Die Casting market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.
The study also analyses the crucial market aspects, including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.
The Global Aluminum Die Casting Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.
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To summarize everything stated above, the report offers key insights into the Aluminum Die Casting market to allow the reader to gain a complete understanding of the Global Aluminum Die Casting Market through accurate estimations, a panoramic view of the market scenario, competitive landscape, factors influencing the growth of the market, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study offers an in-depth view of the industry to offer a competitive edge to the reader and help them in formulating beneficial investment plans. The report provides a comprehensive overview of the market with facts relating to the past, present, and future of the Global Aluminum Die Casting Market.
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