27-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Aluminum Casting Market By Process (Die Casting, Permanent Mold Casting, and Others) and By End-Use (Transportation, Industrial, Building & Construction, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global aluminum casting market in 2019 was approximately USD 50.5 billion. The market is expected to grow at a CAGR of 6.4% and is anticipated to reach around USD 77.9 billion by 2026.
Global shipments of light-duty vehicles reached 17.3 billion units in May 2019 according to the Federal Reserve Bank of St. Louis. As a result, the growing demand for light-duty vehicles due to the rising disposable incomes and shifting customer habits is expected to fuel for aluminum casting market.
Browse the full “Aluminum Casting Market By Process (Die Casting, Permanent Mold Casting, and Others) and By End-Use (Transportation, Industrial, Building & Construction, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/aluminum-casting-market-by-process-die-casting-permanent-951
Growing demand for sports utility and general utility vehicles is expected to fuel aluminum casting demand. It is anticipated that the U.S. will have more than 90 SUV models by 2023 according to the automotive consulting firm LMC Automotive. It is crucial that by 2026 passenger cars should meet a fuel efficiency of 54.5 miles per gallon according to the Corporate Average Fuel Economy (CAFE) due to the rise in greenhouse gas emissions opening a new opportunity for the growth of the aluminum casting market. On the other hand, aspects such as high costs needed by manufacturers to work on the technological advancements in aluminum casting and high prices of aluminum casting machines are likely to impede market development. Besides, the stringent laws and guidelines set down by the European Environment Agency and Environmental Protection Agency (EPA) of the U.S. are likely to impede business development in the coming years concerning hazardous pollution during the casting process.
Due to the growing demand in the automotive sector for aluminum casting products, the die-casting segment accounted for a share of 51 percent in 2019. Die casting is used for the manufacture of various automobile components, such as cylinders, flywheels, engines, and gears used in high-end automobiles for mass vehicle production. Transportation was the aluminum casting industry's largest segment and accounted for a 59.6 percent market share in 2019. Growing demand has been attributed to an increase in global demand for light vehicles and aircraft. Sport vehicles are one of the most profitable markets in the market for light vehicles. The popularity of rallies, sporting events, and races in Europe and North America continues to fuel the sports car market, boosting the aluminum casting market.
In North America, owing to the North American Free Trade Agreement (NAFTA), demand for lightweight vehicles is projected to rise at a healthy pace in the upcoming years. It was announced to achieve the fuel efficiency target of 54.5 mpg in two phases by 2025. This pushes automotive players to achieve a 25 percent reduction in car body weight, which in turn will possibly fuel demand for aluminum casting in the forecast years. Due to the fast-growing manufacturing industry in China and India, the Asia Pacific had a share of 46.1 percent in 2019. Due to the low labor costs and government policy support, automobile manufacturers are shifting their production plants to these countries for expansion. An investment of 25.65 million dollars was made by Continental in December 2018 to build a surface material facility with a capacity of 5 million sqm that is anticipated to start by 2020 in Pune, India.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 50.5 billion |
Projected Market Size in 2026 |
USD 77.9 billion |
CAGR Growth Rate |
6.4% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Alcoa Corporation, Dynacast, Ryobi Ltd., Martinrea Honsel Germany GmbH, Alcast Technologies, Endurance Technologies Limited, Aluminum Corporation of China Limited, Bodine Aluminum, Inc., Gibbs Die Casting Corporation, Consolidated Metco, Inc., Walbro and Others. |
Key Segment |
By Process, By End-Use, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
The key market players in the aluminum casting market are Alcoa Corporation, Dynacast, Ryobi Ltd., Martinrea Honsel Germany GmbH, Alcast Technologies, Endurance Technologies Limited, Aluminum Corporation of China Limited, Bodine Aluminum, Inc., Gibbs Die Casting Corporation, Consolidated Metco, Inc., Walbro, and Others.
This report segments the aluminum casting market as follows:
Global Aluminum Casting Market: By Process Segmentation Analysis
- Die Casting
- Permanent Mold Casting
- Others
Global Aluminum Casting Market: By End-Use Segmentation Analysis
- Transportation
- Industrial
- Building & Construction
- Others
Global Aluminum Casting Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Contact Us:
Facts & Factors
A - 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com
