The latest report by IMARC, titled “Aluminum Die Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global aluminum die casting market is expected to exhibit a CAGR of 4.7% during the forecast period (2022-2027). Aluminum die casting refers to the procedure that manufactures defined, geometrically complex, accurate, and textured-surface metal parts. Aluminum is the most used alloy for this procedure, as it is lightweight and exhibits high-dimensional stability for manufacturing low-density and durable products. Aluminum possesses high corrosion resistance, durability, electrical and thermal conductivity, stiffness, and outstanding strength-to-weight ratio as compared to other metal alloys. In recent years, aluminum die casting has gained momentum as it is extensively used in numerous industry verticals, such as automotive, transportation, electrical and electronics, building and construction, telecommunication, consumer durables, and energy, and others.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will further be integrated into the report.
Global Aluminum Die Casting Market Trends:
One of the primary factors driving the market is the widespread utilization of die casting parts in the automotive industry, along with the augmenting demand for aluminum casts in the electronics and electrical sectors. Additionally, the significant growth in the construction equipment sector and the current energy conservation trends across developing areas, such as MENA, APAC, and Latin America, are positively influencing the market growth. Besides this, rapid industrialization across developing nations, such as China and India, is escalating the demand for aluminum casts in the telecommunications and energy sectors. Moreover, extensive investments in research and development (R&D) activities by key players have led to the launch of enhanced casting technology, digital machinery, and high precision that are heavily used for improving the quality and durability of aluminum casts for electronic, automobile, and industrial applications.
- Based on the process, the market has been divided into pressure, vacuum, squeeze, and semisolid die casting.
- On the basis of the application, the market has been segmented into body parts, engine parts, transmission parts, and others.
- Based on the end use, the market has been segregated into transportation, industrial, building and construction, telecommunication, consumer durables, energy, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Alcast Technologies Ltd., Alcoa Corporation, Bodine Aluminum Inc., Consolidated Meto Inc., Dynacast Deutschland GmbH, GF Casting Solutions, Gibbs Die Casting Corporation, Martinrea Honsel Germany GmbH, Rheinmetall Automotive AG, Ryobi Die Casting Dalian Co. Ltd., Shiloh Industries Inc., and Walbro LLC.
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