DUBLIN--(BUSINESS WIRE)--The "Aluminum Casting Market Size, Share & Trends Analysis Report by Process (Die Casting, Permanent Mold Casting), by End Use (Transportation, Industrial), and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global aluminum casting market size is anticipated to reach USD 83.2 billion by 2027, according to this report registering a 6.4% CAGR over the forecast period.
Rising demand for lightweight vehicles is anticipated to propel market growth as the product is used in manufacturing various auto components.
According to the Center for Automotive Research, the global sales of lightweight vehicles are expected to reach nearly 110 million units by 2026. The growth is attributable to stringent regulations on reducing fuel emissions, thus driving the need for lightweight materials such as aluminum. Vehicles made of aluminum offer better acceleration and better braking systems, thereby improving fuel economy.
However, despite steady demand from the automotive sector, the shift toward electrical drive is expected to negatively impact the market. A combustion engine requires 220 cast products and an electrical drive requires only 25 of them. Nonetheless, growing demand for structural components and sensor casings of a vehicle is likely to continue as the electric engine or motor requires die casting components to produce battery housings and casings. This, in turn, is anticipated to help keep product demand steady over the coming years.
Further key findings from the report suggest:
- Based on process, permanent mold casting is anticipated to progress at a revenue-based CAGR of 6.2% over the forecast period owing to increasing demand for motorsport and recreational vehicles, especially in U.S.
- The industrial end-use segment is projected to witness a CAGR of 7.3% in terms of revenue over the forecast period owing to increasing demand from agricultural and construction equipment in emerging economies such as India and Brazil
- Asia Pacific is expected to exhibit a revenue-based CAGR of 8.4% over the forecast period owing to the presence of a large industrial sector and growth of the automobile sector in the region
- North America is anticipated to grow at a CAGR of 4.2% in terms of volume owing to increasing demand for lightweight materials in the automotive industry to reduce fuel emissions.
- Some of the key players operating in the aluminum casting market are Alcoa Corporation, Aluminum Corporation of China Limited, Alcast Technologies, Bodine Aluminum, Inc., Consolidated Metco, Inc., Dynacast, Endurance Technologies Limited, Gibbs Die Casting Corporation, Martinrea Honsel Germany GmbH, Martinrea Honsel Germany GmbH, Ryobi Ltd, and Walbro.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Aluminum Casting Market Variables, Trends & Scope
3.1 Market outlook
3.1.1 Global metal casting market outlook
3.2 Penetration & growth prospect mapping
3.3 Industry value chain analysis
3.3.1 Raw material trends
3.3.2 Manufacturing Trends & Technology overview
3.3.3 Sales Channel analysis
3.4 Regulatory Framework
3.4.1 Effects of environmental policy change in China
3.5 Market Dynamics
3.5.1 Market Driver Analysis
22.214.171.124 Growing use of aluminum in automobile manufacturing
126.96.36.199 Increase in demand from building and construction sector in Asia Pacific
3.5.2 Market Restraint Analysis
188.8.131.52 High capital investment requirements
3.5.3 Industry Challenges
184.108.40.206 Replacement of aluminum with carbon fiber
3.6 Aluminum Casting Market - Business environment analysis
3.6.1 Industry Analysis - Porter's
3.6.2 PESTEL analysis
3.6.3 Major deals & Strategic Alliances Analysis
3.7 Market Entry Scenario
Chapter 4 Aluminum Casting Market: Process Type Estimates & Trend Analysis
4.1 Definition & Scope
4.2 Process Type Movement Analysis & Market Share, 2019 & 2027
4.3 Die Casting
4.3.1 Market estimates and forecasts, 2016 - 2027 (Kilotons) (USD Million)
4.3.2 Pressure Die Casting
4.4 Permanent Mold Casting
Chapter 5 Aluminum Casting Market: End-Use Estimates & Trend Analysis
5.1 Definition & Scope
5.2 End-Use Movement Analysis & Market Share, 2019 & 2027
5.5 Building & Construction
Chapter 6 Aluminum Casting Market: Regional Estimates & Trend Analysis
6.1 Regional Market Snapshot
6.2 List of Key Players, by Region, 2018
6.3 Regional Movement Analysis & Market Share, 2019 & 2027
6.4 North America
6.6 Asia Pacific
6.7 Central & South America (CSA)
6.8 Middle East & Africa (MEA)
Chapter 7 Aluminum Casting Market-Competitive Analysis
7.1 Key global players & recent developments & their impact on the industry
7.2 Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3 Vendor Landscape
7.3.1 List of key Players/Suppliers
7.3.2 List of Key End Users
7.4 Company Market Positioning
7.4.1 SWOT, by Top Public Companies
Chapter 8 Company Profiles
8.1.1 Company Overview
8.1.2 Product Benchmarking
8.1.3 Strategic Initiatives
8.2 Alcoa Corporation
8.3 Consolidated Metco, Inc.
8.5 Gibbs Die Casting Corporation
8.6 Ryobi Ltd.
8.7 Bodine Aluminum, Inc.
8.8 Martinrea Honsel Germany GmbH
8.9 Aluminum Corporation of China Limited
8.10 Alcast Technologies
8.11 Endurance Technologies Limited
For more information about this report visit https://www.researchandmarkets.com/r/igwy6x