Pune, India, Nov. 03, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global aluminum casting market garnered a valuation of USD 65.5 billion in 2020 and is projected to multiply with 7.4% CAGR during 2021-2027, subsequently amassing 108.7 billion by the end of the assessment timeframe.
Proceeding further, the document bifurcates the marketplace into several sub-markets and assesses them individually to compute their contribution to the overall industry progression and recognize key revenue-generating prospects. Lastly, it entails a detailed analysis of the competitive landscape, inclusive of insightful data on major companies, industry newcomers, upcoming contenders. It also leverages Porter’s Five Forces model and PEST analysis to help firms gauge the degree of competition this domain and plan their next move accordingly.
The market growth can be credited to growing use of aluminum in industrial, transportation, and building & construction sectors. Besides, ongoing developments in manufacturing processes are expected to present lucrative prospects for the industry in the upcoming years.
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As per the European Automobile Manufacturers' Association (ACEA) estimates, 77.9 million automobiles were produced across the globe in 2020. High automobile production along with rising focus towards sustainable development are predicted to enhance demand in the global aluminum casting industry. The strong demand can be credited to its ability to enhance fuel efficiency and reduce environmental degrading events such as carbon dioxide emissions.
Notably, aluminum casting is beneficial to both manufacturers and end-users. It enables manufacturers to make better parts with this method as compared to other alloy materials. Casting creates corrosion-resistant, multipurpose products that can be used for a range of applications. It also allows manufacturers to use these aluminum components to make various goods.
Speaking of factors restraining industry expansion, the availability of alternative materials is likely to act as a major challenge for businesses operating in this domain.
Regional market analysis
According to experts, Asia Pacific accounted for a major portion of overall aluminum casting market revenue in 2020 and is expected to continue serving as an important growth avenue through 2027, attributable to flourishing construction industry, surging customer demand, and aeronautical innovation in the region. Moreover, China is anticipated to emerge as a major revenue contributor owing to its status as the world’s manufacturing hub.
Besides China, other APAC countries such as Japan and India have recorded considerable growth in automobile production, further adding to the demand for aluminum casting and offering opportunities for regional industry expansion.
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Global Aluminum Casting Market, by Process (Value, USD Billion, 2018-2027)
- Permanent Mold Casting
- Sand Casting
- Die Casting
Global Aluminum Casting Market, by End User Scope (Value, USD Billion, 2018-2027)
- Industrial Sector
- Building & Construction Sector
- Transportation Sector
- Others (Household Appliances, Engineering Tools, and Telecom Sector)
Global Aluminum Casting Market Regional Bifurcation (Value, USD Billion, 2018-2027)
North America
- U.S.
- Canada
Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Rest of The World
Global Aluminum Casting Market Key Players (Value, USD Billion, 2018-2027)
- Ryobi Ltd.
- Martinrea Honsel Germany GmbH
- Gibbs Die Casting Corporation
- Endurance Technologies Ltd.
- Dynacast International Inc.
- Consolidated Metco Inc.
- Bodine Aluminum Inc.
- Alcast Technologies Ltd.
- Aluminum Corporation of China Ltd.
- Alcoa Corporation
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Aluminum Casting Market, by Region, 2019-2027 (USD Billion)
1.2.2. Aluminum Casting Market, by Products, 2019-2027 (USD Billion)
1.2.3. Aluminum Casting Market, by End users, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Aluminum Casting Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Aluminum Casting Market Dynamics
3.1. Aluminum Casting Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Rising demand from automotive industry
3.1.1.2. Expansion of market players in developing countries
3.1.2. Market Challenges
3.1.2.1. Availability of raw materials
3.1.3. Market Opportunities
3.1.3.1. Developments in products
Chapter 4. Global Aluminum Casting Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Aluminum Casting Market, by Products
5.1. Market Snapshot
5.2. Global Aluminum Casting Market by Products, Performance - Potential Analysis
5.3. Global Aluminum Casting Market Estimates & Forecasts by Products 2018-2027 (USD Billion)
5.4. Aluminum Casting Market, Sub Segment Analysis
5.4.1. Die Casting
5.4.2. Sand Casting
5.4.3. Permanent Mold Casting
Chapter 6. Global Aluminum Casting Market, by End users,
6.1. Market Snapshot
6.2. Global Aluminum Casting Market by End users, Performance-Potential Analysis
6.3. Global Aluminum Casting Market Estimates & Forecasts by End users, 2018-2027 (USD Billion)
6.4. Aluminum Casting Market, Sub Segment Analysis
6.4.1. Transportation sector
6.4.2. Building & Construction sector
6.4.3. Industrial sector
6.4.4. Others (household appliances, engineering tools, and telecom sector)
Chapter 7. Global Aluminum Casting Market, Regional Analysis
Related Report:
Aluminum Casting Market Size, Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 – 2027
The aluminum casting market is expected to observe robust expansion by 2027, primarily owing to prominent product utilization in the automotive sector. Aluminum casting refers to a method of fabricating high-quality and high-tolerance parts by pouring molten aluminum into an accurately designed and precision engineered mold, die, or form. It is considered an efficient technique for producing intricate, complex, and detailed parts that fit the specifications of the original design, thereby supporting product uptake across diverse sectors. Notably, the lightweight nature of the material results in improved fuel efficiency, which has been favorable for industry adoption in the automotive industry. In the regional landscape, LATAM accounts for over 7.5% of the aluminum casting market in terms of revenue and is anticipated to garner a sizable valuation by the end of the review period. Gradual economic recovery of the Brazilian and Mexican economies, coupled with growth consolidation in other countries, such as Argentina, Chile, Peru, and Colombia, is likely to fuel regional market growth over the forthcoming years.
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