The global Aluminumcasting market size is expected to value at USD 97.36 billion by 2025. The market is subject to witness a substantial growth due to rise in the adoption of aluminum in automobile sector by substituting heavy metals such as iron and steel. In addition, increasing adoption of aluminum metal in building & construction industry is anticipated to boost demand of market during the forecast period. Globally, the market is predicted to grow at CAGR of 7.8% in forecast period, providing numerous opportunity for market players to invest for research and development in the aluminum casting market.
Wide
popularity of aluminum casting among various industries is credited to its
exclusive features such as high strength and its lightweight. Constant demand
from automotive industry for vehicle manufacturing in order to enhance fuel
efficiency and limit carbon dioxide emission is key driver for the growth of
the aluminum casting market in recent years. One of the widely popular segment
of the aluminum casting market is die casting. Increasing adoption of the die
casting in the automotive industry is due to factors such as high efficiency,
and its ability to mold dry cast into any of shapes and size during the casting
processes.
Aluminum
casting has become vital during production of vehicle parts similar to engine
cylinders, engine blocks, gears boxes, rims, and wheel spacer. Increasing
demand from automotive and transport industry are expected to fuel growth of
the aluminum casting market in coming years. Furthermore, increasing demand for
lighter vehicle and improved fuel efficiency by end-user is expected to trigger
growth of the aluminum casting market over the forecast period. Aluminum is
ideal substitute for heavy metal such as iron and steel as it limits emission
of carbon dioxide into atmosphere. Increasing demand form building &
construction sector is further attributing to the expansion of aluminum casting
market.
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The
die casting is considered as one of the fastest growing segment in the aluminum
casting market with highest revenue generation in last few years. Rising demand
from automotive sector and numerous advantages of die casting are major driver
for the growth of the die casting market segment. The die casting offers high
strength to the automobile parts as no additional of welding is needed. Lower
cost and ease of operation during manufacturing are further amplifying demand
of the die casting market segments.
Aluminum
castings offers numerous benefits such as ability to mold to any net shape,
maximizing the overall manufacturing output with minimum resources for further
processing. Such advantages are important in end-user industries. Aluminum
casting is a process in which aluminum is melted inside of a furnace or ladle
then added into a deep mold, commonly made from sand or other material. During
the casting process, a sand mold is used only one time while the aluminum mold
or a die can be used multiple times to achieve exact shape of casting material.
Aluminum is one of the widely utilized casting metal. With the adoption of latest
methodologies such as pressure die-casting, permanent die-casting, sand
die-casting, plaster die-casting and investment casting are utilizing less
quantity of aluminum in comparison with traditional casting processes.
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The
market is divided into regional market segment such as North America, Europe,
Asia-Pacific, Latin America and Africa. North America and European region have
shown major growth in recent years owing to stringent laws and regulation
regarding excess of carbon emission, and existence well-established industrial
infrastructure. Asia-Pacific region is predicted to hold major market share in
the aluminum casting market with massive growth in forecast period. Countries
such as India and China are leading the Asia-Pacific market with easy availability
of cheap and skillful labor coupled with increasing invest by prominent
industry players considering potential opportunities in the region.
The
key players in the aluminum casting industry are Alcoa Co., AlcastHQ Ltd.,
Ryobi Tools Ltd., Dynacast International, Inc., Consolidated Metco, Inc.,
Martinrea Honsel Inc., and Gibbs Die Casting Co.
Market
Segment:
Process
Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
• Die Casting
• Permanent Mold Casting
• Other Castings
End-Use
Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
• Transportation
• Industrial
• Building and Construction
• Others
Regional
Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
• North America
• U.S.
• Mexico
• Canada
• Europe
• Germany
• Italy
• Russia
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• South & Central America
• Brazil
• Middle East and Africa
• South Africa
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