Aluminum Casting Market Size, Share & Trends Report

Aluminum Casting Market Size, Share & Trends Analysis Report By End Use (Industrial, Transportation, Building & Construction), By Process (Permanent Mold, Die Casting), And Segment Forecasts, 2019 - 2025

  • Published Date: Mar, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-008-8
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 194

Industry Insights

The global aluminum casting market size was estimated at USD 47.1 billion in 2018. It is anticipated to witness a CAGR of 9.1% from 2019 to 2025. Upswing in the use of aluminum in automobile manufacturing and heightened demand from the building & construction sector in Asia Pacific has boosted the growth of the market.

Casting of raw materials into products is an old technique which was first observed in later period of 19th century. Over the period, several technical advancements were achieved in terms of production, quality, efficiency, and others. However, the basic principle of pouring molten metal into a mold and replicating the desired pattern, remained the same.

U.S. aluminum casting market

Strict emission laws imposed by U.S. EPA are among the primary growth stimulants for the market in the country. Regulations aim to reduce greenhouse gas emissions from automobiles by increasing fuel efficiency of vehicles, which can be effectively achieved by making vehicle lighter.

Rapid expansion of the automotive industry worldwide is also projected to benefit the growth of the market. At a global level, nearly 60.0% of cast products in the market are directed towards the automotive industry. In some countries, the penetration of aluminum cast products in the automotive sector is much higher as compared to the global average. For instance, roughly 80.0% of produced aluminum cast products in Spain are utilized by the automotive sector.

Process Insights

In terms of revenue, die casting process accounted for approximately 53.0% of the market revenue in 2018. The process is popular around the globe due to its unique advantage of producing high volume products. The process is also poised to register a greater CAGR during the forecast period, owing to steady demand from the automotive sector.

Die casting offers cost-saving potential while facing a challenge from substitute materials such as steel and plastics. Rising demand for cast products in the automotive sector has been contributing to the growth of the segment. The demand for aluminum products in powertrain and structural automotive components is increasing steadily.

Pressure die process can be performed via high or low pressure. Nearly 71.0% of pressure die process is performed under high pressure. High-pressure die casting (HPDC) is considered idle for achieving higher production rates and is largely used in various industries.

End-use Insights

The industrial sector is likely to be the most promising end-use segment in the aluminum casting market during the forecast period. The growth of the segment can be attributed to modernization of traditional agricultural countries including India and Brazil. Similarly, steady infrastructure development in India and other Asian countries is considered as the key factor fueling the demand for construction equipment over the coming years

As per the study conducted by the Aluminum Association in 2018, total aluminum content per lightweight vehicle in North America region is slated to increase by nearly 69.0% by 2020. In addition, the total growth by 2020 is expected to be driven by closures, crash management systems, steering knuckles, and structural die-cast parts.

Global aluminum casting market

The demand for aluminum casting from the general transportation segment is estimated to grow in-line with automotive sector expansion around the globe. In addition, this growth is supported by rising demand for aircraft in developing nations such as India and China. Cast products in the sector are common components of jet or aircrafts engines.

Regional Insights

Asia Pacific was the leading revenue contributor in the market, accounting for about 43.0% in 2018. The production of automotive vehicles in the region observed a rise of nearly 3.3% from 2016 to 2017, as per the study published by OICA in 2017. Thus, shifting of production facilities in the region, coupled with steady development of the automotive sector, is anticipated to stoke the growth of the market.

Europe is projected to post a CAGR of 7.1% in terms of value from 2019 to 2025. The market in the region is dominated by major countries such as Germany, France, Italy, and Russia. Focus on reducing CO2 emission in Europe by implementing Euro 6b emission standards in 2014 and Euro 6c with real driving emissions (RDE) along with World Harmonized Light Vehicle Testing Procedure (WLTP) are creating strong growth potential for lightweight materials in the region.

North America is poised to exhibit high growth over the same period, owing to strict emission rules in the U.S. and growth of the industrial sector in Mexico. Increasing use of aluminum in vehicle manufacturing has a direct and positive impact on the demand for cast products. The region is one of the largest global markets for automobiles and is, thus, likely to witness healthy growth during the forecast period.

Aluminum Casting Market Share Insights

Some of the key manufacturers are Alcoa Corporation; Walbro; Consolidated Metco, Inc.; Dynacast; Gibbs Die Casting Corporation; Bodine Aluminum, Inc.; Ryobi Ltd; Aluminum Corporation of China Limited; Martinrea Honsel Germany GmbH; Endurance Technologies Limited; and Alcast Technologies.

In an attempt to mark their presence in the market, new players must compete with existing global players such as Dynacast, Alcast Tech, ConMet, and Martinrea Honsel. Surging demand for quality casting products coupled with technological developments in its production is making manufacturers conscious about the need for constant innovations and maintaining high standards of their products.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Kilotons, Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

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

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

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

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

    • Die casting

      • Pressure die casting

        • High pressure die casting

        • Low pressure die casting

    • Permanent mold casting

    • Others

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

    • Transportation

    • Industrial

      • Agricultural Equipment

      • Construction Equipment

      • Others

    • Building & construction

    • Others

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

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

    • Central and South America

      • Brazil

    • MEA

      • South Africa

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