Overview and Scope
Aluminum casting refers to an industrial procedure created by pouring molten metal into molds that have been carved out in the shape of the final object that is wanted and used for the manufacturing of aluminum products and sold as part of a machine or product or as part of commercial industrial production and utilized in the manufacturing of metal parts with specific details and quality.
Sizing and Forecast
The aluminum casting market size has grown strongly in recent years. It will grow from $65.53 billion in 2023 to $70.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to rapid economic growth, increased infrastructure spending, growing demand for sustainable and eco-friendly construction materials, increased urbanization, rise in industrialization.
The aluminum casting market size is expected to see strong growth in the next few years. It will grow to $94.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increase in the production of electric vehicles, renewable energy infrastructure, increased focus on circular economy, growing demand for lightweight and easy-to-install construction materials, infrastructure development. Major trends in the forecast period include advancements in casting technologies, additive manufacturing integration, advancements in alloy development, customization and design complexity, digitalization in casting simulation.
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The aluminum casting market covered in this report is segmented –
1) By Process: Die Casting, Sand Casting, Permanent Mold Casting
2) By End-User: Transportation sector, Building and Construction sector, Industrial sector, Other End-Users
Asia-Pacific was the largest region in the aluminum casting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aluminum casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Growing demand in the automobile industry propels the market growth in the aluminum casting market. An automobile, often known as a motorcar or a car, is a four-wheeled vehicle that is designed primarily for passenger transportation and is powered by an internal combustion engine that runs on volatile fuel. Currently, more than 50% of individual components in automotive vehicles such as transmission housings and pistons are made of aluminum casting. The global production of automobiles has increased year over year, creating new potential for market expansion around the world. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase. Therefore, the rising demand for aluminum products in the automobile industry drives the growth of aluminum casting market .
Key Industry Players
Major companies operating in the aluminum casting market report are Alcoa Corporation, Aluminum Corporation of China Limited, Alcast Technologies Ltd., Bodine Aluminum Inc., Consolidated Metco Inc., Dynacast International Inc., Gibbs Die Casting Corporation, Martinrea Honsel Germany GmbH, Ryobi Ltd., Walbro Corp., China Hongqiao Group Limited, Arconic Inc., Eagle Aluminum Cast Products Inc., American Aluminum Casting Company, Architectural Grille LLC, Sussman Architectural Products Inc., California Sealing Solutions Inc., P. Q. D. International Inc., Medical Electronic Systems, A&B Die Casting Co. Inc., Zetwerk Pvt. Ltd., Aluminum Die Casting Company Inc., Casting Solutions Components S. A de CV, Regensburger Druckgusswerk Wolf GmbH, Apppex GmbH, Pace Industries Pvt. Ltd., Craft Pattern & Mold Inc., Empire Die Casting Co., General Aluminum Mfg. Company, Harrison Steel Castings Co., Intermet Corporation, Kurt Die Casting, LaSalle Bristol Inc.
The aluminum casting market report table of contents includes:
1. Executive Summary
2. Aluminum Casting Market Characteristics
3. Aluminum Casting Market Trends And Strategies
4. Aluminum Casting Market – Macro Economic Scenario
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31. Global Aluminum Casting Market Competitive Benchmarking
32. Global Aluminum Casting Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aluminum Casting Market
34. Aluminum Casting Market Future Outlook and Potential Analysis
