The Aluminum Castings Market Size was valued at USD 86.96 Billion in 2022. The Aluminum Castings industry is projected to grow from USD 87.34 Billion in 2023 to USD 92.8 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.56% during the forecast period (2023 - 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.      
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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. Â
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Additionally, the most suitable substitute 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 in 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 in the market.
The Aluminum Castings Market segmentation, based on End-Use Industry, includes 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 better fuel efficiency in the Aluminum Castings Market.Â
Based on Process, the Aluminum Castings Market segmentation includes 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.
Figure 2: Aluminum Castings Market, by Process, 2023 & 2030 (USD Billion)Â Â Â Â Â Â Â 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. 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.
Figure 3: ALUMINUM CASTINGS MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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 47.9% of the total European region of the market in 2020
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Aluminum Castings market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Aluminum Castings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Aluminum Castings. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Aluminum Castings industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Aluminum Castings industry to benefit customers and expand the market sector. The Aluminum Castings market has recently given medicine some of the most important advantages. Major Aluminum Castings market players, including Alcast Technologies Ltd. Canada, Alcoa Corporation USA, Aluminum Corporation of China Limited China, Arconic Inc., the USA, Dynacast Charlotte USA, and others, are attempting to increase market demand by funding R&D initiatives.
Alcoa (formerly known as Alcoa Upstream) is a company that produces and sells bauxite, alumina, and aluminum products. It is engaged in bauxite mining operations, processes bauxite into alumina, and sells bauxite to customers who process it into industrial chemical products. The company is also involved in the aluminum smelting, casting, and rolling businesses.
Also, Rio Tinto is a global mining and metals company. Its focus is on finding, mining, and processing mineral resources. The company produces iron ore, aluminum, copper, diamonds, coal, uranium, gold, and industrial minerals (borates, titanium dioxide, and salt).
December 2021, TRIMET Aluminium SE began manufacturing aluminum sows in November with the commissioning of a new aluminum casting machine at its Hamburg (Germany) location. The aluminum smelter can now cast approximately 45,000 metric tonnes of aluminum 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 labor. The new machine is a casting carousel equipped with 18 molds. 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.
Aluminum Castings End-use Industry Outlook
Aluminum Castings Process Outlook
Aluminum Castings Regional Outlook
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD Â 86.96 Billion |
| Market Size 2023 | USD 87.34 Billion |
| Market Size 2030 | USD 92.8 Billion |
| Compound Annual Growth Rate (CAGR) | 7.56% (2023-2030) |
| Base Year | 2023 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | End-use Industry, Process, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 Dynamics | The growing automobile sector and growing demand from various industries. |
Aluminum Castings Market Highlights:
Frequently Asked Questions (FAQ) :
The Aluminum Castings Market size was valued at USD 86.96 Billion in 2022.
The global market is projected to grow at a CAGR of 7.56% during the forecast period, 2023-2030.
Asia Pacific had the largest share of the Aluminum Castings Market.
The key players in the market are 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).
The transportation categories dominated the market in 2023.
Die casting had the largest share in the global market for Aluminum casting.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
