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The Asia Pacific metal casting market is currently witnessing moderate growth. Metal casting is the process of pouring hot liquid metal into a mold containing a hollow cutout, which then solidifies into the desired finished shape. The process is used for mass production of components that utilize permanent metal mold to produce large and complex parts with low wall thickness. Metal casting is mostly made of non-ferrous materials, like zinc, copper, aluminum, magnesium, lead, pewter, and tin-based alloys. In the Asia Pacific region, the demand for metal casting has escalated as it aids in improving energy efficiency and lowering the environmental impact.
The Asia Pacific metal casting market is primarily driven by the growing automotive industry, especially in countries like India, China, and Japan. Besides this, there has been an increasing demand for lightweight and electric vehicles due to the rising per capita incomes and growing environmental awareness among consumers. This has provided a positive impact on the metal casting market across the region. Apart from this, as China represents one of the largest automotive hubs in the world, with a strong presence of local and international OEMs, it plays an essential role in the growth of the market. Moreover, metal casting manufacturers have adopted simulation-based castings to create perfect defect-free products, which help in decreasing the wastage and reducing the costs of operations. On account of these factors, the market is expected to exhibit moderate growth during the forecast period (2020-2025).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific metal casting market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, process, material type, component, vehicle type, electric and hybrid type and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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