Aluminum Casting Market Report

Aluminum Casting Market Analysis, By Process (Die Casting, Permanent Mold Casting, Others), By End-Use (Transportation, Industrial, Building and Construction) By Region (North America, Europe, APAC, CSA and MEA) And Segment Forecasts 2014 - 2025

Published: October 2017  |  139 Pages  |  Format: PDF  |  Report ID: GVR-2-68038-008-8

Industry Insights

The aluminum casting market size was valued at USD 49.47 billion in 2016 and is expected to grow at a CAGR of 7.8% over the forecast period on account of increase in use of aluminum in automotive industry coupled with increasing new applications of aluminum casting. The replacement of iron and steel components in vehicle with lightweight aluminum in order to increase the fuel efficiency of the vehicle is expected to drive the market over the forecast period.

The rising popularity of aluminum in various application owing to its intrinsic properties such as lightweight; corrosion resistance, high electrical & thermal conductivity, high stability for complex shapes and high tensile strength is anticipated to drive the market over next eight years.

U.S. aluminum casting market revenue, by process, 2014 - 2025 (USD Billion)

U.S. aluminum casting market

Factors such as reviving world economy and industrial boom in China and India, coupled with government initiative are expected to drive the market in industrial segment. However, increasing use of lightweight material as substitute for aluminum pose a significant threat to the market. Material such as carbon fiber and manganese are emerging strong substitute to aluminum and can replace aluminum in many applications.

Process Insights

The die casting accounted for 49.7% of the global market share in 2016.  The demand for aluminum die casting is growing due to its end use application in automotive sector. Many automotive components such as engine cylinders, engine blocks, gears, flywheel, wheel spacer etc. are made from die casting process. The die casting process products has high strength as they don’t have any joints and need not to be welded together. Low cost and easy of production makes it the largest process segment for the market.

Permanent mold casting was estimated at USD 19.82 billion in 2016. The rise in industrial sector and increasing new applications of aluminum casting is anticipated to propel the market over the forecast period. The segment is projected to maintain its share on account increasing demand from Asia-Pacific region. Other casting processes such as sand casting and investment casting are also expected to witness growth during the forecast period.

End Use Insights

Transportation sector is the largest end use segment for this industry. The increasing emission laws by the government regulatory authorities, coupled with consumer demand for higher fuel-efficient vehicle is propelling the demand for aluminum casting in transportation sector.

Additionally, use of aluminum casting products in aerospace application is also growing at a rapid pace due to increase in demand and production of airplanes around the world. Likewise increase in use on aluminum casted products in other transportation medium such as waterways and trains is expected to further propel the market.

Global aluminum casting market revenue, by end use type, 2016 (%)

Global aluminum casting market

Aluminum casting has various applications in Building and construction sector such as windows, cladding, curtain walling, prefabricated buildings, shop partitions and fittings. Increasing building and construction sector specially in developing economies especially in Asia Pacific is the driving force for market in the region. Rapidly increasing population in the region coupled with growing disposable income is responsible for huge demand for houses in the region.

Regional Insights

Germany and France cumulatively accounted for over 45.9% of the Europe market revenue in 2016 on account of strict European emission laws and harsh penalty payments in case of excess emissions. Similarly, U.S. automobile manufacturers too face stringent emission laws, driving them to produce cars with high fuel efficiency.

The total demand for aluminum casting in Asia Pacific was valued at USD 20.81 billion in 2015. This growth can be attributed to increased demand for houses and automobile by the region’s huge population especially in China and India. Asia Pacific is anticipated to maintain its market dominance during the period from 2017 to 2025.

Increasing industrial sector in emerging economies such as China and India due to easy availability of skilled & cheap workforce is anticipated to result in higher demand for aluminum casting. Significant demand from Asia Pacific is expected to boost the market over the forecast period.

Competitive Insights

Key players in the market include Alcoa, Alcast, Ryobi, Dynacast, Consolidated Metco, Martinrea Honsel, Gibbs Die Casting and others. In March 2015, the Alcoa Corp. acquired TITAL, which is a leading manufacturer of aluminum and titanium structural casting that are used in aircraft frames and engines.

The aluminum casting players are focusing on exploring new avenues for aluminum casting and product differentiation, with a competitive pricing structure which would help them increase their market share over the forecast period. The companies have been engaged in research and development to cater the customized need of the customer by developing capabilities to cast complex products. 

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimate/Historical data

2014 and 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Billion, Volume in Kilo Tons and CAGR from 2017 to 2025

Regional scope

U.S., Mexico, Canada, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil & South Africa.

Country scope

U.S., Germany, UK, France, China, India, South Korea and Japan.

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and opportunities in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the aluminum casting market on the basis of process, end-use and region:

  • Process Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)

    • Die Casting

    • Permanent Mold Casting

    • Other Castings

  • End-Use Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)

    • Transportation

    • Industrial

    • Building and Construction

    • Others

  • Regional Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

      • Mexico

      • Canada

    • Europe

      • Germany

      • Italy

      • France

      • Russia

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • South & Central America

      • Brazil

    • Middle East and Africa

      • South Africa

Key questions answered by the report
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