The global aluminum die casting market size is anticipated to reach USD 48.93 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 10.1% during the forecast period. Increasing demand for lightweight parts in the automotive sector is anticipated to drive the growth.
Recycled aluminum has widely gained popularity, as the demand for products with low carbon footprint escalates. The momentum towards reducing carbon footprint is already gaining prominence in the market. For instance, in 2016, Jaguar Land Rover launched a project to return used vehicle parts to Novelis after the end of the vehicle’s lifecycle.
Industrial Internet of Things (IIoT) and industry 4.0 are emerging technologies in the aluminum die casting market. Industrial IoT offers benefits across various areas such as efficiency, new business models, new revenue streams and risk management and safety compliance. With integration of electronic devices in casting manufacturing, products can be obtained with improved functionality at an enhanced productivity rate. Also, sensors can be embedded in the castings to detect, measure and evaluate mechanical loads such as deformations, tensile forces and vibrations in casting products.
Over the years to come, digital platforms are likely to play a major role especially for the small or medium level manufacturers. The rising prominence of such platforms has encouraged the vendors to develop highly interactive websites to attract new customers with their product range.
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Many countries are making efforts to control the pollution caused by the manufacturing sector. For instance, the Government of China is offering increased incentives to the companies implementing various steps to curb pollution. The scheme shall be applicable for the industries such as metal, cement, glass, coking, and waste to energy. In addition, province of Hebei in China is offering a pace setter scheme for the industries which impose stricter norms to limit pollution than necessary emission standards, consume low levels of coal and water, and implement green supply chain system.
Further key findings from the report suggest:
- In terms of revenue, pressure die casting accounted for 58.6% of market share in 2018 on account of increasing vehicle production
- High pressure die casting is expected to witness a CAGR of 10.3% from 2019 to 2025 due to increased production of automotive components
- Consumer durables are expected to witness the fastest growth over the forecast period due to increasing disposable income in emerging countries
- Transportation application accounted for a revenue share of 61.5% in 2018 and is expected to witness considerable growth over the forecast period. Increasing production capacities of automakers is a key growth driver
- Asia Pacific is expected to witness the fastest growth in automotive production in the forthcoming years
- Key players in the aluminum die casting market are focused on acquisitions to expand their presence across different regions
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Key Topics Covered
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 List of data sources
1.4 Information procurement
1.5 Information analysis
1.6 Market formulation & data visualization
1.7 Data validation & publishing
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Aluminum Die Casting Market Variables, Trends & Scope
3.1 Market Outlook
3.1.1 Global Metal Casting Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.2 Manufacturing Trends & Technology overview
3.3.3 Sales Channel analysis
3.4 Regulatory Framework
3.4.1 Effects of Environmental Policy Change in China
3.5 Market Dynamics
3.5.1 Market Driver Analysis
220.127.116.11 Growing use of aluminum in automobile manufacturing
18.104.22.168 Growth of Building & Construction Sector
3.5.2 Market Restraint Analysis
22.214.171.124 High capital investment requirements
3.5.3 Industry Challenges
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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