Global Die Casting Market Report 2023: Significant Growth in the Automotive Industry Fuels the Sector - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Die Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global die casting market size reached US$ 62.4 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 87.1 Billion by 2028, exhibiting a CAGR of 5.72% during 2022-2028.

Companies Mentioned

• Dynacast International Inc. (Form Technologies Inc.)
• Endurance Technologies Limited
• Georg Fischer Ltd.
• Gibbs Die Casting Corp. (Koch Enterprises Inc.)
• Nemak S.A.B. de C.V.
• Pace Industries (Leggett & Platt)
• Rheinmetall AG
• Rockman Industries
• Ryobi Die Casting (USA) Inc. (Ryobi Limited)
• Sandhar Technologies Limited
• Shiloh Industries Inc.
• Sundaram - Clayton Limited.

Die casting refers to a process of pouring molten metal into molds under high pressure to produce accurate metal parts. It is manufactured using metals such as lead, zinc, magnesium, aluminum, copper, and tin-based alloys. It is widely used to produce industrial components, decorative hardware, connector housings, toys, golf clubs, engine fans, and valves.

As compared to other manufacturing processes, die casting reduces production costs, eliminates assembly operations, and provides greater consistency.

It also reduces metal scrap, augments the production rate, and provides higher accuracy and single mold design. As a result, die casting finds extensive applications across the automotive, aerospace, defense, electronics, transportation, construction, and manufacturing industries.

The global die casting market is primarily being driven by significant growth in the automotive industry. Die casting is widely used to manufacture components for chassis, transmission, engine, brakes, power steering, and vehicle interior. In line with this, the widespread adoption of aluminum die casting for manufacturing lightweight vehicle parts to reduce fuel consumption is acting as another growth-inducing factor.

Furthermore, increasing product utilization in the electronics industry to produce flexible, light, heat-resistant, and highly durable precision parts for smartphones, laptops, home appliances, and drones is providing a considerable boost to market growth. Apart from this, the advent of improved casting technology and the introduction of automation to improve consistency, offer higher speed, reduce waste, and minimize worker contact with molten metal is creating a positive outlook for the market.

Moreover, widespread product utilization in the healthcare industry to manufacture complex medical devices, such as ultrasound systems, pacemakers, dialysis equipment, medical robots, monitoring devices, and hospital bed gearboxes, is providing an impetus to market growth.

Other factors, including increasing investments in the manufacturing industry by several governments and the widespread product utilization in the energy sector to produce piping, drilling machinery, flow controls, and filtration devices, are anticipated to drive the market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global die casting market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on process, raw material and application.

Breakup by Process:

• Pressure Die Casting
• Vacuum Die Casting
• Squeeze Die Casting
• Others

Breakup by Raw Material:

• Aluminum
• Magnesium
• Zinc

Breakup by Application:

• Automobile
• Body Parts
• Engine Parts
• Transmission Parts
• Others
• Heavy Equipment
• Construction
• Farming
• Mining
• Machine Tools
• Plant Machinery
• Chemical Plants
• Petroleum Plants
• Thermal Plants
• Paper
• Textile
• Others
• Municipal Castings
• Valves and Fittings
• Pipes
• Others

Key Questions Answered in This Report:

• How has the global die casting market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global die casting market?
• What are the key regional markets?
• What is the breakup of the market based on the process?
• What is the breakup of the market based on the raw material?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global die casting market and who are the key players?
• What is the degree of competition in the industry?

For more information about this report visit https://www.researchandmarkets.com/r/lfiest

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