Aluminium Casting Products Market
Aluminium Casting Products Market Forecasts to 2030 - Global Analysis By Product (Gravity Die Casting, Low Pressure Die Casting, High Pressure Die Casting and Permanent Molding), Sales Channel (Distribution Channel and Direct Channel), Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $150.4 BN |
|
Projected Year Value (2030) |
US $254.5 BN |
|
CAGR (2023 - 2030) |
7.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Aluminium Casting Products Market is accounted for $150.4 billion in 2023 and is expected to reach $254.5 billion by 2030 growing at a CAGR of 7.8% during the forecast period. Aluminum casting products refer to components that are manufactured using the process of aluminum casting. These products cover a wide range, including aerospace components and automotive parts like engine blocks and transmission cases. Since aluminum is a lightweight material, it is perfect for uses where weight is a concern, like in the aerospace and automotive sectors. The low density of this material facilitates improved fuel efficiency for aircraft and vehicles.
Market Dynamics:
Driver:
Rising popularity of electric vehicles
The automotive industry's need for aluminum casting products is expected to rise in conjunction with the growing popularity of electric vehicles. Because of their lightweight design and high heat conductivity, aluminum components are preferred in electric vehicles (EVs) because they are critical to battery cooling and overall vehicle efficiency. Additionally, they depend on battery technology; electric vehicles need to use lightweight materials to minimize overall efficiency and balance the weight of the battery packs. The growing popularity of electric vehicles propels market expansion.
Restraint:
High cost
Setting up or upgrading aluminum casting facilities requires significant capital investment in casting equipment, moulds, and technology. It takes a substantial initial outlay of funds to guarantee a steady supply of superior aluminum ingots, which are an essential raw material for the casting process. Facilities for smelting and refining aluminum need a significant amount of energy and a large-scale infrastructure. Additionally, it also costs money to conduct research and development to create new aluminum alloys and better casting methods, which can raise product quality and satisfy changing industry standards. Therefore, it is a significant barrier to market expansion.
Opportunity:
Light weighting trends
The persistent focus on light weighting across multiple sectors, including the automotive and aerospace industries, presents a prospect for products utilizing aluminum casting. Aluminum components that are lightweight are expected to become more in demand as manufacturers look to reduce the weight of their products to increase performance and fuel efficiency. Light weighting, the process of making structures and components lighter without sacrificing or worsening their functionality, is an important factor in many different industries, but it is especially important in the automotive and aerospace sectors. These factors enhance market demand.
Threat:
Casting defects
One significant barrier that affects both product quality and manufacturing efficiency in the market for aluminum casting products is the existence of casting defects. Defects in castings can take many different forms, such as porosity, inclusions, and surface irregularities, and they can be very harmful to the industry. These defects can undermine consumer confidence and harm a manufacturer's reputation, in addition to leading to products that need to be scrapped or reworked and raising production costs. Furthermore, fixing casting flaws frequently necessitates additional post-processing, like heat treatment, welding, or grinding. Additionally, it may result in increased material waste, which would further harm the manufacturing sector's ability to make funds.
Covid-19 Impact
The COVID-19 pandemic had a significant impact on the aluminum casting product market. Early on in the pandemic, a number of industries noticed operational disruptions and a drop in demand for aluminum casting products, including the automotive, aerospace, and construction sectors. Delays and shortages in production resulted from this impact on the production of aluminum casting products. Additionally, due to decreased consumer spending, travel restrictions, and economic uncertainty, industries that are major consumers of aluminum casting products, such as the automotive and aerospace industries, saw a sharp decline in demand. As a result, there was less demand for aluminum-cast parts.
The low pressure die casting segment is expected to be the largest during the forecast period
The low pressure die casting segment is estimated to hold the largest share. Low-pressure die casting is a specialized and effective method of producing different components for aluminum casting products. Low-pressure die casting is a precision-engineered casting technique that produces aluminum parts with less air exposure and turbulence, leading to excellent results. Reduced porosity in castings, superior surface finish, and the capacity to maintain tight tolerances are some benefits of the low-pressure die casting process. As a result of this, it plays a crucial role in the production of essential parts such as engine blocks, cylinder heads, and structural pieces, advancing the development of strong, lightweight solutions for a range of uses.
The aerospace and marine segment is expected to have the highest CAGR during the forecast period
The aerospace and marine segment is anticipated to have lucrative growth during the forecast period. These industries make extensive use of aluminum casting products because of the material's special mix of qualities. Aluminum castings are utilized in the aerospace industry to create vital parts like engine parts, structural elements, and complex interiors for aircraft. Because aluminum can withstand the corrosive effects of saltwater and exposure to harsh environmental conditions, its corrosion resistance is especially valuable in marine applications. Furthermore, aluminum's lightweight characteristics help vessels maneuver more easily and use less fuel.
Region with largest share:
North America commanded the largest market share during the extrapolated period. The need for aluminum casting products has been driven by the automotive industry's requirement for lightweight materials like aluminum. To increase fuel efficiency and lower emissions, these parts are widely employed in engines, transmissions, and structural components. Due to its strength-to-weight ratio and corrosion resistance, aluminum casting products are used for missile casings, aircraft parts, and other vital applications in the region's booming aerospace and military industries.
Region with highest CAGR:
Europe is expected to witness profitable growth over the projection period due to its rich industrial heritage, strong manufacturing tradition, and diverse applications of aluminum casting products. The European aerospace and defense industries are well-established, and they rely on aluminum casting components for their military and aircraft needs. These goods are prized for their sturdiness, resilience to corrosion, and strength. Tight environmental laws in Europe encourage the use of sustainable and recyclable materials like aluminum. This encourages the region's need for aluminum casting products.
Key players in the market
Some of the key players in the Aluminium Casting Products Market include Consolidated Metco, Alcast Technologies, Ryobi, Dynacast International, Alcoa Howmet, Bodine Aluminum, Gibbs Die Casting, Martinrea Honsel Germany, Aluminum Corporation of China, Rio Tinto, Walbro, China Hongqiao Group, Nemak, United Company Rusal and Leggett & Platt.
Key Developments:
In October 2022, Rio Tinto and BHP formed a partnership to accelerate the development of technology that could significantly increase water recovery from mine tailings, and in turn reduce potential safety risks and environmental footprints associated with tailings storage facilities.
In March 2022, ConMet Announces Collaboration with Meritor to Enable Zero-Emission Trailers. To deliver this electrified trailer solution, Meritor is redesigning its trailer suspension and drum brake, including a specifically engineered spindle package to be compatible with ConMet's eHub.
Products Covered:
• Gravity Die Casting
• Low Pressure Die Casting
• High Pressure Die Casting
• Permanent Molding
Sales Channels Covered:
• Distribution Channel
• Direct Channel
Applications Covered:
• Heavy Machinery and Industrial
• Automobiles
• Building and Construction Hardware
• Aerospace and Marine
• Telecom
• Power and Hand Tools
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aluminium Casting Products Market, By Product
5.1 Introduction
5.2 Gravity Die Casting
5.3 Low Pressure Die Casting
5.4 High Pressure Die Casting
5.5 Permanent Molding
6 Global Aluminium Casting Products Market, By Sales Channel
6.1 Introduction
6.2 Distribution Channel
6.3 Direct Channel
7 Global Aluminium Casting Products Market, By Application
7.1 Introduction
7.2 Heavy Machinery and Industrial
7.3 Automobiles
7.4 Building and Construction Hardware
7.5 Aerospace and Marine
7.6 Telecom
7.7 Power and Hand Tools
8 Global Aluminium Casting Products Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Consolidated Metco
10.2 Alcast Technologies
10.3 Ryobi
10.4 Dynacast International
10.5 Alcoa Howmet
10.6 Bodine Aluminum
10.7 Gibbs Die Casting
10.8 Martinrea Honsel Germany
10.9 Aluminum Corporation of China
10.10 Rio Tinto
10.11 Walbro
10.12 China Hongqiao Group
10.13 Nemak
10.14 United Company Rusal
10.15 Leggett & Platt
List of Tables
1 Global Aluminium Casting Products Market Outlook, By Region (2021-2030) ($MN)
2 Global Aluminium Casting Products Market Outlook, By Product (2021-2030) ($MN)
3 Global Aluminium Casting Products Market Outlook, By Gravity Die Casting (2021-2030) ($MN)
4 Global Aluminium Casting Products Market Outlook, By Low Pressure Die Casting (2021-2030) ($MN)
5 Global Aluminium Casting Products Market Outlook, By High Pressure Die Casting (2021-2030) ($MN)
6 Global Aluminium Casting Products Market Outlook, By Permanent Molding (2021-2030) ($MN)
7 Global Aluminium Casting Products Market Outlook, By Sales Channel (2021-2030) ($MN)
8 Global Aluminium Casting Products Market Outlook, By Distribution Channel (2021-2030) ($MN)
9 Global Aluminium Casting Products Market Outlook, By Direct Channel (2021-2030) ($MN)
10 Global Aluminium Casting Products Market Outlook, By Application (2021-2030) ($MN)
11 Global Aluminium Casting Products Market Outlook, By Heavy Machinery and Industrial (2021-2030) ($MN)
12 Global Aluminium Casting Products Market Outlook, By Automobiles (2021-2030) ($MN)
13 Global Aluminium Casting Products Market Outlook, By Building and Construction Hardware (2021-2030) ($MN)
14 Global Aluminium Casting Products Market Outlook, By Aerospace and Marine (2021-2030) ($MN)
15 Global Aluminium Casting Products Market Outlook, By Telecom (2021-2030) ($MN)
16 Global Aluminium Casting Products Market Outlook, By Power and Hand Tools (2021-2030) ($MN) Power and Hand Tools (2021-2030) ($MN)
17 North America Aluminium Casting Products Market Outlook, By Country (2021-2030) ($MN)
18 North America Aluminium Casting Products Market Outlook, By Product (2021-2030) ($MN)
19 North America Aluminium Casting Products Market Outlook, By Gravity Die Casting (2021-2030) ($MN)
20 North America Aluminium Casting Products Market Outlook, By Low Pressure Die Casting (2021-2030) ($MN)
21 North America Aluminium Casting Products Market Outlook, By High Pressure Die Casting (2021-2030) ($MN)
22 North America Aluminium Casting Products Market Outlook, By Permanent Molding (2021-2030) ($MN)
23 North America Aluminium Casting Products Market Outlook, By Sales Channel (2021-2030) ($MN)
24 North America Aluminium Casting Products Market Outlook, By Distribution Channel (2021-2030) ($MN)
25 North America Aluminium Casting Products Market Outlook, By Direct Channel (2021-2030) ($MN)
26 North America Aluminium Casting Products Market Outlook, By Application (2021-2030) ($MN)
27 North America Aluminium Casting Products Market Outlook, By Heavy Machinery and Industrial (2021-2030) ($MN)
28 North America Aluminium Casting Products Market Outlook, By Automobiles (2021-2030) ($MN)
29 North America Aluminium Casting Products Market Outlook, By Building and Construction Hardware (2021-2030) ($MN)
30 North America Aluminium Casting Products Market Outlook, By Aerospace and Marine (2021-2030) ($MN)
31 North America Aluminium Casting Products Market Outlook, By Telecom (2021-2030) ($MN)
32 Europe Aluminium Casting Products Market Outlook, By Country (2021-2030) ($MN)
33 Europe Aluminium Casting Products Market Outlook, By Product (2021-2030) ($MN)
34 Europe Aluminium Casting Products Market Outlook, By Gravity Die Casting (2021-2030) ($MN)
35 Europe Aluminium Casting Products Market Outlook, By Low Pressure Die Casting (2021-2030) ($MN)
36 Europe Aluminium Casting Products Market Outlook, By High Pressure Die Casting (2021-2030) ($MN)
37 Europe Aluminium Casting Products Market Outlook, By Permanent Molding (2021-2030) ($MN)
38 Europe Aluminium Casting Products Market Outlook, By Sales Channel (2021-2030) ($MN)
39 Europe Aluminium Casting Products Market Outlook, By Distribution Channel (2021-2030) ($MN)
40 Europe Aluminium Casting Products Market Outlook, By Direct Channel (2021-2030) ($MN)
41 Europe Aluminium Casting Products Market Outlook, By Application (2021-2030) ($MN)
42 Europe Aluminium Casting Products Market Outlook, By Heavy Machinery and Industrial (2021-2030) ($MN)
43 Europe Aluminium Casting Products Market Outlook, By Automobiles (2021-2030) ($MN)
44 Europe Aluminium Casting Products Market Outlook, By Building and Construction Hardware (2021-2030) ($MN)
45 Europe Aluminium Casting Products Market Outlook, By Aerospace and Marine (2021-2030) ($MN)
46 Europe Aluminium Casting Products Market Outlook, By Telecom (2021-2030) ($MN) Europe Aluminium Casting Products Market Outlook, By
47 Asia Pacific Aluminium Casting Products Market Outlook, By Country (2021-2030) ($MN)
48 Asia Pacific Aluminium Casting Products Market Outlook, By Product (2021-2030) ($MN)
49 Asia Pacific Aluminium Casting Products Market Outlook, By Gravity Die Casting (2021-2030) ($MN)
50 Asia Pacific Aluminium Casting Products Market Outlook, By Low Pressure Die Casting (2021-2030) ($MN)
51 Asia Pacific Aluminium Casting Products Market Outlook, By High Pressure Die Casting (2021-2030) ($MN)
52 Asia Pacific Aluminium Casting Products Market Outlook, By Permanent Molding (2021-2030) ($MN)
53 Asia Pacific Aluminium Casting Products Market Outlook, By Sales Channel (2021-2030) ($MN)
54 Asia Pacific Aluminium Casting Products Market Outlook, By Distribution Channel (2021-2030) ($MN)
55 Asia Pacific Aluminium Casting Products Market Outlook, By Direct Channel (2021-2030) ($MN)
56 Asia Pacific Aluminium Casting Products Market Outlook, By Application (2021-2030) ($MN)
57 Asia Pacific Aluminium Casting Products Market Outlook, By Heavy Machinery and Industrial (2021-2030) ($MN)
58 Asia Pacific Aluminium Casting Products Market Outlook, By Automobiles (2021-2030) ($MN)
59 Asia Pacific Aluminium Casting Products Market Outlook, By Building and Construction Hardware (2021-2030) ($MN)
60 Asia Pacific Aluminium Casting Products Market Outlook, By Aerospace and Marine (2021-2030) ($MN)
61 Asia Pacific Aluminium Casting Products Market Outlook, By Telecom (2021-2030) ($MN)
62 South America Aluminium Casting Products Market Outlook, By Country (2021-2030) ($MN)
63 South America Aluminium Casting Products Market Outlook, By Product (2021-2030) ($MN)
64 South America Aluminium Casting Products Market Outlook, By Gravity Die Casting (2021-2030) ($MN)
65 South America Aluminium Casting Products Market Outlook, By Low Pressure Die Casting (2021-2030) ($MN)
66 South America Aluminium Casting Products Market Outlook, By High Pressure Die Casting (2021-2030) ($MN)
67 South America Aluminium Casting Products Market Outlook, By Permanent Molding (2021-2030) ($MN)
68 South America Aluminium Casting Products Market Outlook, By Sales Channel (2021-2030) ($MN)
69 South America Aluminium Casting Products Market Outlook, By Distribution Channel (2021-2030) ($MN)
70 South America Aluminium Casting Products Market Outlook, By Direct Channel (2021-2030) ($MN)
71 South America Aluminium Casting Products Market Outlook, By Application (2021-2030) ($MN)
72 South America Aluminium Casting Products Market Outlook, By Heavy Machinery and Industrial (2021-2030) ($MN)
73 South America Aluminium Casting Products Market Outlook, By Automobiles (2021-2030) ($MN)
74 South America Aluminium Casting Products Market Outlook, By Building and Construction Hardware (2021-2030) ($MN)
75 South America Aluminium Casting Products Market Outlook, By Aerospace and Marine (2021-2030) ($MN)
76 South America Aluminium Casting Products Market Outlook, By Telecom (2021-2030) ($MN)
77 Middle East & Africa Aluminium Casting Products Market Outlook, By Country (2021-2030) ($MN)
78 Middle East & Africa Aluminium Casting Products Market Outlook, By Product (2021-2030) ($MN)
79 Middle East & Africa Aluminium Casting Products Market Outlook, By Gravity Die Casting (2021-2030) ($MN)
80 Middle East & Africa Aluminium Casting Products Market Outlook, By Low Pressure Die Casting (2021-2030) ($MN)
81 Middle East & Africa Aluminium Casting Products Market Outlook, By High Pressure Die Casting (2021-2030) ($MN)
82 Middle East & Africa Aluminium Casting Products Market Outlook, By Permanent Molding (2021-2030) ($MN)
83 Middle East & Africa Aluminium Casting Products Market Outlook, By Sales Channel (2021-2030) ($MN)
84 Middle East & Africa Aluminium Casting Products Market Outlook, By Distribution Channel (2021-2030) ($MN)
85 Middle East & Africa Aluminium Casting Products Market Outlook, By Direct Channel (2021-2030) ($MN)
86 Middle East & Africa Aluminium Casting Products Market Outlook, By Application (2021-2030) ($MN)
87 Middle East & Africa Aluminium Casting Products Market Outlook, By Heavy Machinery and Industrial (2021-2030) ($MN)
88 Middle East & Africa Aluminium Casting Products Market Outlook, By Automobiles (2021-2030) ($MN)
89 Middle East & Africa Aluminium Casting Products Market Outlook, By Building and Construction Hardware (2021-2030) ($MN)
90 Middle East & Africa Aluminium Casting Products Market Outlook, By Aerospace and Marine (2021-2030) ($MN)
91 Middle East & Africa Aluminium Casting Products Market Outlook, By Telecom (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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