The Global Aluminum Casting Market is projected to reach USD 40.14 billion by 2026, growing at a CAGR of 5.2% from 2022-2029.
Aluminum is becoming trendy material gradually due to its ability to be easily recycled. Around 70% of aluminum consumed can be reused.
North America is the main market for automotive aluminum dies casting worldwide. Currently, Aluminum casting has gained tremendous popularity due to its strength and lightweight features are expected to advance the industry.
The continuous increase in demand for aluminum casting in the automotive industry, to improve fuel efficiency, and that reducing CO2 emissions are other factors expected to drive the growth of the global aluminium casting market.
One of the major factors driving the growth in this market is its wide range of applications in the Die casting market. The Die Casting process has high efficiency and can be cast into more variety of shapes and sizes than any other casting process.
Moreover, aluminum die casting is widely used in the automotive sector for the manufacturing of parts such as engine cylinders, engine blocks, gears, etc. Thus, the demand for aluminum die casting is anticipated to rise significantly soon.
In 2016, the market is affected by bans imposed on the use of aluminum castings on roads across several cities of some major countries such as California and Newyork in Global, Netherlands, Dubai, New South Wales in Australia, etc. After all, the growing demand in other parts of the world such as South America and Asia has been supporting the Global market for aluminum castings.
However, there are some of the major restrictive factors, such as Pollution. It has a major area of concern in this segment. This may affect the aluminum casting market.
The global aluminum casting market can be bifurcated based on process types including Die casting, Permanent mold casting, and Sand casting.
The die casting segment is increasingly being used in the Aluminum casting market. It helps to reduce the weight of the vehicle and industrial machines. It is mainly used in the transportation sector to improve the fuel efficiency of vehicles. As a result, the demand for aluminum casting is expected to increase. These are some of the factors propelling the market growth.
Global Aluminum Casting Market are used for numerous applications in different industries such as Automobiles, Industrial, Building, and Construction. Out of all the automobile industry is expected to contribute to the aluminum casting market, Moreover vehicles play an increasing role in the aluminum casting market.
Geographically, the global aluminum casting market is segmented as, North America, Asia-Pacific, Europe, and the Middle East, and Africa.
Asia Pacific’s dominance of the aluminum castings market continues unabated, and the region will likely continue to account for the leading share of the market.
China remains one of the largest producers and consumers of aluminum casting globally, whereas demand is growing at a brisk pace in India, there was immense scope for a quantum leap in growth for the industry.
In 2018, Germany and France cumulatively accounted for over 45.9% of the European market revenue and it has strict European emission laws and harsh penalty payments in case of excess emissions.
Global Aluminum Casting Market is dominated by established companies. Some of the major companies operating in the global aluminum casting market are Arconic Inc., Alcoa Corporation, Dynacast International, Endurance Technologies Ltd., Nemak, Eagle Aluminum Cast Products, Alcast Technologies, Ryobi Limited, Dynacast., And Rio Tinto are prominent players in the global aluminum casting market.
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