Aluminum Casting Market Size to Worth USD 151.26 Bn By 2033

Ottawa, May 15, 2024 (GLOBE NEWSWIRE) -- The global aluminum casting market size was valued at USD 86.27 billion in 2023 and is predicted to hit around USD 143.30 billion by 2032, according to Precedence Research. The aluminum casting market is driven by the rising usage of aluminum casting in the transportation, automobile, electronics, and furniture sectors.

Aluminum Casting Market Overview

The aluminum casting market refers to the manufacturing industry sector that produces and distributes cast aluminum components. In this market, molten aluminum is poured into molds of desired shapes and sizes, where it solidifies to form the final product. Melted aluminum is poured into a cavity to form a portion. An important step in producing aluminum products is called aluminum casting. Despite having low melting points and viscosities, aluminum and its alloys cool to form strong, hard solids. Heat-proof cavities are used in casting procedures to produce the metal, which cools and solidifies to take on the shape of the cavity it fills.

Most technological fields depend on aluminum, which is the third most prevalent element in the crust of the earth. One of the primary methods for introducing aluminum into the general public's awareness and appreciation is casting, which allows for the creation of net-shaped completed parts with a high degree of accuracy, a low weight, and moderate strength. A variety of ductility, maximum tensile strengths, a high stiffness-to-weight ratio, remarkable corrosion resistance, and superior electrical and thermal conductivity are among the qualities of cast aluminum. The development of manufacturing sectors and technology both depend on aluminum casting.

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Key Insights

• Asia Pacific led the market with the largest revenue share of 45.15% in 2023.
• By Processes, the die-casting segment has held a major revenue share of 51% in 2023.
• By Application, the transportation segment has recorded more than 55.5% of revenue share in 2023.
  

Asia Pacific Aluminum Casting Market Size and Growth 2024 to 2033

The Asia Pacific aluminum casting market size was valued at USD 38.95 billion in 2023 and is anticipated to reach around USD 70.49 billion by 2033, expanding at a CAGR of 6.15% from 2024 to 2033.

Asia-Pacific dominated the aluminum casting market in 2023. The growing industrialization, urbanization, and infrastructural development in the Asia-Pacific area have made it an important market for aluminum die-casting machines. This industry is growing rapidly in countries like China, India, and Japan because of the booming electronics and automotive sectors. Cost-effective and efficient aluminum die-casting machines are being used by manufacturers more frequently, and technological developments such as multi-cavity and cold chamber die-casting machines have spurred market expansion. Major companies are boosting their distribution networks and production capabilities to meet the increasing demand for components that are lightweight and energy-efficient.

• For instance, Delron, a China-based aluminum casting company, provides premium die casting and machining services for a range of materials, including copper, zinc alloy, aluminum alloy, stainless steel, and carbon steel. Heat treatment, chrome plating, powder coating, vibratory finishing, vapor honing, passivation, assembly, special packaging, light assembly, and chemical cleaning are among the operations they provide. For design optimization and prototyping, technical support and consulting services are offered, guaranteeing cost and quality factors are considered. Every procedure is customized to meet the needs and timelines of the client, guaranteeing a flawless product experience.
  

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Scope of the Aluminum Casting Market

Aluminum Casting Market Highlights

Process Insight

The die-casting segment dominated the aluminum casting market in 2023. Die casting is the method of creating a product by rapidly and intensely filling a precise metal mold with molten metal. It is distinguished by excellent dimensional accuracy and large-scale manufacturing of intricately shaped, thin-walled items. Additionally, die casting creates clean casting surfaces, which reduces the need for post-mold machining. This makes it appropriate for a wide range of parts, including those for cars, motorbikes, office equipment, home appliances, industrial machinery, and building supplies.

The aluminum die castings that the Ryobi Group specializes in producing are lightweight, strong, and recyclable. They are mostly used in the production of automotive components. By offering lightweight, very durable aluminum die-cast products worldwide, Ryobi is helping to reduce fuel consumption and electricity usage. Electric vehicle components, body and chassis components, and power train components are among the applications for die casting.

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Application Insight

The transportation segment dominated the aluminum casting market in 2023. The transportation sector, which benefits from the aluminum die-casting process, is seeing a rise in demand for fuel-efficient cars because of tightening pollution rules imposed by international governments. The transportation sector has to adjust quickly to changes in the market, which makes die-casting aluminum parts necessary.

Due to stricter pollution regulations and growing consumer demand for fuel-efficient automobiles, the transportation industry has grown to be the largest end-use segment for die-cast aluminum. To improve fuel economy and cut emissions, manufacturers are switching out heavy die-cast aluminum components for lighter ones made of iron and steel.

Market Dynamics

Driver: Wide range of property

Die casting of aluminum is an economical and effective way to produce a wide range of items in large quantities. It produces hundreds of identical castings with little technology, allowing for precise forms and tolerances. The die pieces that are manufactured have thinner walls and are frequently stronger than plastic injection moldings. Because no individual parts are fastened or welded together during the process, the alloy alone rather than the mix of components is credited with strength. There are not many dimensional variations between the dimensions of the final product and the mold in which the parts are made.

After fastening the die components together, molten aluminum is injected into the die chamber to start the casting cycle. The finished product is heat-resistant, and the die parts are firmly fixed on a machine. Aluminum is a cheap material that can be produced in large quantities for little money. Additionally, the technique produces a smooth surface, which makes it perfect for polishing or coatings.

Browse More Insights:

• Metal Casting Market: The global metal casting market size was exhibited at USD 155.22 billion in 2023 and is predicted to hit around USD 378.42 billion by 2033, growing at a CAGR of 8.77% from 2024 to 2033.
  
  
• Advanced Ceramics Market: The global advanced ceramics market size was valued at US$ 59.09 billion in 2022 and is anticipated to reach USD 95.79 billion by 2032, with a CAGR of 5% from 2023 to 2032.
  
  
• Aluminum Extrusion Market: The global aluminum extrusion market size was estimated at USD 78 billion in 2022 and is expected to reach over USD 149.88 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 6.80% from 2023 to 2032.
  
  
• Automotive Aluminum Extrusion Market: The global automotive aluminum extrusion market size was valued at USD 64 billion in 2022 and is expected to reach over USD 141.40 billion by 2032 with a registered CAGR of 8.30% from 2023 to 2032.
  
  
• Aluminum Foil Packaging Market: The global aluminum foil packaging market size surpassed USD 47.96 billion in 2023 and it is expected to be worth around USD 73.85 billion by 2033, poised to grow at a CAGR of 4.50% during the forecast period from 2024 to 2033.
  
  
• Aluminum Cable Market: The global aluminum cable market size was exhibited at USD 55.73 billion in 2022 and is projected to hit around USD 87.91 billion by 2032, growing at a CAGR of 4.66% during the forecast period 2023 to 2032.
  
  
• Aluminum Curtain Wall Market: The global aluminum curtain wall market size accounted for USD 32.1 billion in 2022 and it is expected to hit around USD 83.56 billion by 2032, poised to grow at a CAGR of 10.04% between 2023 and 2032. 

Restraint: Complex procedure

The complex procedure is a significant challenge for the aluminum casting market. An important industrial process that has a big impact on output is the die-casting of aluminum. The alloy's characteristics, which can be thermal or intersecting, have an impact on the alloy's airtightness. Because of its propensity to absorb gas, aluminum causes "pinholes" to appear in the final casting. When the bonding force between the metal grains is exceeded by the shrinkage stress, hot cracking takes place, resulting in fractures along various grain boundaries.

A sequence of processes is involved in the process of swiftly and effectively making tens of thousands of castings. The die is a steel mold consisting of at least two parts that are intended to make it simple to remove the finished castings. The machine then gently separates the die halves, allowing the completed casting to be evacuated. Different die-casting can have complex mechanisms designed to handle the complexity of the casting.

Opportunity: AI in casting

The simulation of human intelligence in robots that can learn and solve problems by imitating human behavior is known as artificial intelligence or AI. Reduced faulty casting rejections are a goal for foundry engineers in today's precision-driven, competitive market. Defect analysis and prevention have become expensive and time-consuming due to the use of traditional approaches like trial and error. To achieve objective casting quality assurance, computational intelligence techniques are therefore being used more and more in the areas of sand mold design, defect discovery, evaluation, and analysis, as well as casting process planning. This development is essential in the cutthroat, precision-driven industry of today.

Artificial Intelligence (AI) has been applied to casting to optimize, monitor, and regulate production parameters, predict internal problems, and allow for flexible scheduling. Investment-casting problems were analyzed using the Bayesian inference approach, which predicts and prevents faults based on posterior probabilities of process parameters. This AI-based method can save time and money by overcoming the drawbacks of earlier techniques like Artificial Neural Networks (ANN) and casting process simulation.

Recent News of the Aluminum Casting Market:

• In April 2024, In Bowling Green, Kentucky, Vista Metals plans to invest $60 million in a new specialty aluminum casting business. The company intends to create more than 50 jobs. It produces aluminum for the automotive, commercial aircraft, aerospace, and defense industries. The company plans to construct a 75,000-square-foot complex on more than 100 acres of property. The company is thrilled about its new location and how it can help build the industrial business basis of the expanding city by drawing skilled workers from the manufacturing sector and strengthening the ties between industry and academia.
  
  
• In September 2023, at its facility in Germany, Norsk Hydro, a Norwegian manufacturer of aluminum, launched a new HyForge casting line. The goal of the $42.5 million project is to boost the automobile industry's usage of recycled post-consumer aluminum scrap. The line, which has a smaller diameter, provides excellent surface quality for forged aluminum forge stock billets. By passing further process steps like homogenization or extrusion, these billets can be immediately incorporated into high-quality automobile components and other goods. Hydro is investing $42.5 million toward decarbonization measures, which includes the new line.
  
  
• In July 2024, using 3D printing, the 76th Commodities Maintenance Group and REACT Lab at Tinker Air Force Base increased their capacity to sand-cast aluminum parts internally. The foundry satisfies Grade B requirements by casting pieces weighing up to 120 pounds. To ensure practically faultless casting, the 76th CMXG is refining its procedure to produce Grade A castings.
  

Aluminum Casting Market Key Players

• Walbro
• Alcoa Corporation
• Consolidated Metco, Inc.
• BUVO Castings
• Georg Fischer Ltd.
• RDW Wolf, GmbH
• Dynacast
• Ryobi Limited
• GIBBS
• Bodine Aluminum
• Martinrea Honsel Germany GmbH
• Alcast Technologies
• Aluminum Corporation of China Limited
• Endurance Technologies Limited

Market Segmentation

By Processes

• Die Casting
• Pressure Die Casting
• Others
• Permanent Mold Casting
• Others
  

By Application

• Transportation
• Industrial
• Building & Construction
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
  

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