Global aluminum casting market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 7.9% in the forecast period of 2021 to 2028 and is expected to reach USD 1,25,047.18 Million by 2028. On the flip side, factors such as high prices of aluminum casting machinery, along with high investments in technological advancements in aluminum casting, are likely to hamper the market growth. Moreover, strict rules and guidelines laid down by the U.S. Environmental Protection Agency (EPA) and the European Environment Agency regarding harmful emissions into the environment during the casting process are likely to hinder market growth in the coming years.
The aluminum casting provides several advantages to the manufacturers as well for the end consumers. The process allows the producers to produce parts faster and higher than any other alloy material. The products formed through the casting process are corrosion-resistant, versatile, and can be used for different purposes. Further, it also allows the manufacturers to manufacture various types of products through these aluminum parts.
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- On the basis of source, the global aluminum market is segmented into primary (fresh aluminum) and secondary (recycled aluminum). In 2021, primary (fresh aluminum) is expected to dominate the global aluminum casting market as the products made through it do not possess any additives. The adulteration rate is very low compared to the recycled aluminum, which helps to boost its demand.
- On the basis of application, the global aluminum casting market is segmented into intake manifolds, oil pan housings, structural parts, chassis parts, cylinder heads, engine blocks, transmissions, wheels and brakes, heat transfers, and others. In 2021, wheels and brakes are expected to dominate the market as they are cost-effective and require a slow maintenance frequency, which boosts its demand.
- On the basis of end-user, the global aluminum casting market is segmented into automotive, building and construction, industrial, household appliances, aerospace, electronics and electrical, engineering tools, and others. In 2021, automotive is expected to dominate the market because most automotive parts are made from aluminum which provides lighter weight to vehicles.
Highlight of Table of Content:
- Chapter 1: Market overview
- Chapter 2: Aluminum casting market analysis
- Chapter 3: Regional analysis of the Aluminum casting market
- Chapter 4: Market segmentation based on types and applications
- Chapter 5: Revenue analysis based on types and applications
- Chapter 6: Market share
- Chapter 7: Competitive Landscape
- Chapter 8: Drivers, Restraints, Challenges, and Opportunities
- Chapter 9: Gross Margin and Price Analysis
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The major players covered in the report are Alcoa Corporation, Endurance Technologies Limited, Ryobi Limited, DyCast Specialties Corporation, Consolidated Metco, Inc., Alcast Technologies, Ningbo Beilun Create Mould Machine Co., Ltd, Pyrotek, Martinrea Honsel Germany GmbH, GIBBS, Dynacast, Reliance Foundry Co. Ltd., TOYOTA INDUSTRIES CORPORATION, LA ALUMINUM, TPi Arcade, DRAHTWERK ELISENTAL W. Erdmann GmbH & Co., Wagstaff Inc., NINGBO INNOVAW MECHANICAL CO., LTD., Modern Aluminum Castings Co., Inc. and Pacific Die Casting Corp., among other players domestic and regional. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Profound Questions Answered in this Report:
- What is the growth rate of various stages in the value chain of the industry?
- Which region has the highest growth rate and size of the emerging market by value in 2021?
- Who are the competitive players inAluminum casting market?
- Which region has the largest share and degree of competition in the industry?
- What is the CAGR of the market during the forecast period 2021 to 2027?
- Which region is expected to hold the highest market share for the market?
- What is the main driver of the Aluminum casting market?
- What is sales volume, revenue, and price analysis of top players of the market?
- What are the market opportunities and threats faced by the vendors in the industry?
- What has been the impact of COVID-19 on Aluminum casting market?
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