Aluminum Castings Market Research Report – Global Forecast to 2030

Aluminum Castings Market Research Report - By End-Use Industry (Building & construction, Industrial, Transportation, Others), By Process (Die Casting, Sand Casting, Permanent Mold Casting) and Region – Global Forecast to 2030

ID: MRFR/CnM/5256-HCR | November 2022 | Region: Global | 100 Pages         

Aluminum Castings Market

Aluminum Castings Market is projected to be worth USD 92.8 Billion by 2030, registering a CAGR of 7.56% during the forecast period (2021 - 2030).

Segmentation

By End-Use Industry Building & construction Industrial Transportation Others
By Process Die Casting Sand Casting Permanent Mold Casting

Key Players

  • Alcoa Corporation USA
  • Arconic Inc.
  • the USA
  • Dynacast Charlotte USA
  • Endurance Technologies India
  • Gibbs Die Casting Corp USA
  • Kaiser Aluminum USA
  • Martinrea Honsel Germany
  • Nemak S.A.B. de C.V. Mexico
  • Rio Tinto UK
  • Rockman Industries Ltd. India
  • Ryobi Limited Japan

Drivers

  • The increasing demand for energy-efficient and lightweight vehicles
Speak to Analyst Request a Free Sample

Aluminum Castings Market Overview


Aluminum Castings Market is projected to be worth USD 92.8 Billion by 2030, registering a CAGR of 7.56% during the forecast period (2021 - 2030).

Aluminum casting is a process of making simple to complex parts by pouring molding liquid aluminum under high pressure. It is used in industries as lightweight, consisting of more surface finishing, and can withstand high temperatures. The process helps the producers produce parts faster and higher than any other alloy material. Due to the material's versatility, it can be used for different purposes.


Covid-19 analysis 


COVID 19 has impacted the Aluminum Castings Market negatively. It is difficult for the industries to get out of the severity of the market in the long term. The outbreak resulted in the shutdown of hospitals, clinics, automobiles and other industries. The sudden fall and uncertainty in aluminum prices due to the effect of the pandemic made losses for the industry. The disruption in the supply chain will continue to affect the aluminum industry in the coming years. The Asia Pacific is the major market manufacturer. Still, during the outbreak, the region got affected most which led to a pause in manufacture and production and impacted the Aluminum Castings Market Share worldwide.


Chief Factors Existing In The Market  


Key Drivers

The increasing demand for energy-efficient and lightweight vehicles is the major driver of the Aluminum Castings Market. The increase in the replacement of steel and iron in many industries with aluminum is boosting the market. The features of aluminum, such as durability, good appearance, lightweight and corrosion resistance, influence the market to be design-oriented. Electrical & thermal conductivity, lightweight, complete recyclability, competitive cost, and attractive appearance are the additional characteristics of aluminum due to which the Aluminum Castings Market Size is increasing.

Market Challenges

The growing concern about the environment and government taking strict action to reduce emissions and accept the green impact on the environment will increase the demand for magnesium, becoming a challenge for the Aluminum Castings Market. Magnesium alloys are replacing high-strength aluminum alloys gradually due to their high cost impacting the Aluminum Castings Market Value.

Market Opportunities

One of the most suitable substitutes in the automotive industry is aluminum due to the rise in the weight reduction of vehicles. The environmental benefit, fuel efficiency, and good aluminum properties investment create ample opportunity for the market. The use of aluminum in aerospace due to its lightweight and safe purpose and the automotive industry is increasing new growth opportunities for the Aluminum Castings Market. Due to all of these, the market players will experience new opportunities for the market.

Market Restraints

Magnesium is used in the application where strength and low weight are the main functions. It is considered two-thirds of that of aluminum. It is found in the earth's crust, easily and continuously replacing aluminum in different industries such as automotive, aerospace, etc. It is lower in weight and is creating a hindrance for the Aluminum Castings Market Forecast. The rise in the development of magnesium alloys is hampering market growth. While extracting the raw materials for aluminum casting decreases all the vegetation in the mining region, which leads to loss of environment and food for the local people. It also affects the local water sources and the wildlife, posing restrain for the market.

Cumulative Evaluation Of The Market  


The cumulative evaluation of the Aluminum Castings Market shows precise market insight. Vast research is carried out to gather cumulative information. The market provides revenue details, vital information, trends, drivers, restraints and opportunities. Based on the factors of the market, the market is availing growth and experiencing high improvement in the forecast period. Among them, the drivers and opportunities act as a growth factor and make sure to make the market reach a distinguished height. The challenges and the restrains in the market have a declining effect. The vendors keen to invest in the market have to take all the factors into account for valuable market widening.


Market segmentation 


By End-Use Industry

Based on the end-user industry, the Aluminum Castings Market is classified into Building & Construction, Industrial, Transportation and Others. The transportation segment is expected to dominate the market due to the enhancement of the end-user. The growth will accelerate in the future due to the increasing demand for lighter vehicles which leads to replacing the iron and steel parts on the vehicles with aluminum products. The rising demand for cast aluminum in the automobiles industries is attributed to the enhancement of light vehicles with the better fuel efficiency of the Aluminum Castings Market.

By Process

The variables of the Aluminum Castings Market segment process are Die Casting, Sand Casting, and Permanent Mold Casting. The die casting variable is attributed to registering high growth in the forecast period due to the process's great efficiency and excellent economical acceptance. This offers a wide range of shapes and components than any other casting technique. The segment is gaining growth as it is mostly used in the automobile industry for the parts like engine blocks and wheel spacers. Other segments will also enhance the Aluminum Castings Market Growth in the forecast period.

Regional analysis 


The Aluminum Castings Market is analyzed in Asia Pacific, Europe, North America and other parts. The Asia Pacific is expected to hold the largest market share due to the rapid use of the market in industrial applications such as heavy machinery, automobiles, mass transportation, automobiles and others. It is the reason for the foster of the market in the region. The increasing demand for lighter vehicles in the region also increases market growth. The region is gaining growth also due to the presence of the largest consumer and producer of aluminum casting all over the globe. Europe is showcasing significant growth due to the strict European emission laws and strict penalty payments in case of excess emissions driving the market in the region. France and Germany accounted for over 45.9% of the total European region of the market in 2018.


Competitive Intensity Within The Industry  


The competitive intensity of the Aluminum Castings Market contains several market vendors, and the vendors are acting as a growth factor for the market. The report provides valuable in-depth information on the market, including the major market vendors. The competitive landscape shows the industry's competitors whose presence in the market adds value to the market. New strategies and ideas are formed for the growth of the market. Current and future market investors are competing in the market to gain the upper position of the market. the major players who are constantly improving the market value are



  • Alcast Technologies Ltd. Canada

  • Alcoa Corporation USA

  • Aluminum Corporation of China Limited China

  • Arconic Inc., the USA

  • Dynacast Charlotte USA

  • Endurance Technologies India

  • Gibbs Die Casting Corp USA

  • Kaiser Aluminum USA

  • Martinrea Honsel Germany

  • Nemak S.A.B. de C.V. Mexico

  • Rio Tinto UK

  • Rockman Industries Ltd. India

  • and Ryobi Limited Japan


Recent development  


December 2021: TRIMET Aluminium SE began manufacturing of aluminium sows in November with the commissioning of a new aluminium casting machine at its Hamburg (Germany) location. The aluminium smelter can now cast approximately 45,000 metric tonnes of aluminium produced via electrolysis each year, nearly doubling its capacity as a result of the investment. Apart from the increased productivity, the new casting machine is a significant improvement in terms of worker health and safety: The entire process is automated, from casting, skimming, and identifying the sows to weighing and putting them on a conveyor belt. Thus, robots accomplish tasks that previously required manual labour. The new machine is a casting carousel equipped with 18 moulds. Every two hours, it can cast 18 metal sows weighing 780 kilos apiece. The new technical standard ensures that products are continuously of excellent quality.

Report Overview 


The AluminumCastings Market Analysis report has been made. In the report, the information regarding the market is depicted. The report offers rigorous research and in-depth insight which impacts the market. The important information about the Aluminum Castings Market, profit details, current trends, drivers, restraints, and opportunities are mentioned. Various key vendors who are operating in the market from different regions and their financial, impact, ideas, collaboration with other industries are predicted in the report. The study about the economic condition and other economic indicators and future scenarios are informed in the report. The report also provides a holistic view of the Aluminum Castings Market Trends.


Key industrial segments 


By End-Use Industry



  • Building & construction

  • Industrial

  • Transportation

  • Others


 By Process



  • Die Casting

  •  Sand Casting

  •  Permanent Mold Casting



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 92.8 Billion
  CAGR   7.56% (2021–2030)
  Base Year   2020
  Forecast Period   2021-2030
  Historical Data   2019
  Forecast Units   Value (USD Billion)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By End-Use Industry, Process and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Alcast Technologies Ltd. (Canada), Alcoa Corporation (USA), Aluminum Corporation of China Limited (China), Arconic Inc. (USA), Dynacast Charlotte (USA), Endurance Technologies (India), Gibbs Die Casting Corp (USA), Kaiser Aluminum (USA), Martinrea Honsel (Germany), Nemak S.A.B. de C.V. (Mexico), Rio Tinto (UK), Rockman Industries Ltd. (India), and Ryobi Limited (Japan).
  Key Market Opportunities   Increasing demand for general utility and sports utility vehicles
  Key Market Drivers   The growing automobile sector and growing demand from various industries.


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The aluminum castings market is estimated to reach of USD 92.8 billion by 2030

The major market players dominating the market are Arconic Inc. USA, Dynacast Charlotte USA, Endurance Technologies India, Gibbs Die Casting Corp USA, Kaiser Aluminum USA, Martinrea Honsel Germany, Nemak S.A.B. de C.V. Mexico.

The Aluminum Castings Market is classified by process and end-use industry.

The growing demand for lightweight vehicles and environmental concerns drive the market in the forecast period.

North America holds highest share in 2021.