The Global Aluminum Casting Market is forecasted to grow at 7.9%, with factors such as a rise in the number of lightweight vehicles is accelerating the consumption of aluminum casting products.
The aluminum casting market has shown an exceptional penetration in Asia-Pacific, North America, and Europe. Grow in usage of aluminum metal, due to increasing demand for HVAC system in commercial buildings. The replacement of iron and steel with aluminum in the automobiles sector creates an opportunity for the global aluminum casting market.
Global Aluminum Casting Market Scenario
According to Data Bridge Market Research, the market for aluminum casting in Asia-Pacific has the highest market share, followed by Europe and North America. The market leader is Alcoa Corporation, accounting for approximately 9.07% of the global aluminum casting market. The company has gained outstanding sales through innovative aluminum casting products for several industries.
For Instance:
- In January 2021, Pyrotek introduced new Rigid Glasweve (RGW) filtering technology for permanent mold casting and sand-casting processes and developed innovative ways to improve their melting and casting processes. With this development company is expecting to enhance its market share. In October 2019, TOYOTA INDUSTRIES CORPORATION started its first-ever overseas manufacturing of electric compressors in China. It will help the company to increase its production and also increase the demand for aluminum for the company
Trends Impacting the Market
Now the question is which other regions Alcoa Corporation, Martinrea Honsel Germany GmbH, and Wagstaff Inc. are targeting? Data Bridge Market Research has forecasted a large growth in the Asia-Pacific aluminum casting market. The market leaders target North America and Europe to be their next revenue pockets for 2021.
The aluminum casting market is becoming more competitive every year with Alcoa Corporation, Martinrea Honsel Germany GmbH, and Wagstaff Inc. as they are the industry leaders. The Data Bridge Market Research reports highlight the major growth factors and opportunities in the aluminum casting market.
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Aluminum Casting Market Development
- In June 2019, LA ALUMINUM announced a new Haas VF9-40 CNC machine which will be used in making permanent mold tooling. It will further provide the customers with faster tooling lead times
- In January 2019, Endurance Technologies Limited acquired Italy-based aluminum die casting company Fonpresmetal Gap SpA for $9.3 million. This development will help the company with future growth opportunities in the European market
Scope of the Aluminum Casting Market
The global aluminum casting market is segmented into countries such as the U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Austria, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, South Africa, Egypt, Saudi Arabia, U.A.E., Israel and Rest of the Middle East and Africa and many others.
- All country-based analysis of the aluminum casting market is further analyzed based on further segmentation. On the basis of process, the global aluminum casting market is segmented into expandable mold casting and non-expandable mold casting. On the basis of source, the global aluminum market is segmented into primary (fresh aluminum) and secondary (recycled aluminum). On the basis of application, the global aluminum casting market is segmented into intake manifolds, oil pan housings, structural parts, chassis parts, cylinder heads, engine blocks, transmissions, wheels and brakes, heat transfers, and others. On the basis of end-user, the global aluminum casting market is segmented into automotive, building and construction, industrial, household appliances, aerospace, electronics and electrical, engineering tools, and others.
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Key Pointers Covered in Aluminum Casting Market Industry Trends and Forecast to 2028
- Market Size
- Market Standards and Changes
- Market Trials in Different Regions
- Market Requirements in Different Regions
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Recent Market Value for Different regions
- Sales Data for Market Competitors
- Key Vendors and Disruptors Study
- Supply Chain Competitiveness
Key Market Competitors Covered in the Report
- Alcoa Corporation
- Endurance Technologies Limited
- Ryobi Limited
- DyCast Specialties Corporation
- Consolidated Metco, Inc.
- Alcast Technologies
- Ningbo Beilun Create Mould Machine Co., Ltd
- Pyrotek
- Martinrea Honsel Germany GmbH
- GIBBS
- Dynacast
- Reliance Foundry Co. Ltd.
- TOYOTA INDUSTRIES CORPORATION
- LA ALUMINUM
- TPi Arcade
- DRAHTWERK ELISENTAL W. Erdmann GmbH & Co.
- Wagstaff Inc.
- NINGBO INNOVAW MECHANICAL CO., LTD.
- Modern Aluminum Castings Co., Inc.
- Pacific Die Casting Corp.
Above are the key players covered in the report. To know about more an exhaustive list of aluminum casting companies, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-aluminum-casting-market
Research Methodology: Global aluminum casting market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or can drop down your inquiry.
The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market timeline analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis, and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
- Demand Side: Manufactures
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers, among others.
Related Reports
- Global Aluminum Die Casting Market
- Global Automotive Aluminum Market
- Global Aluminum Systems Market
- Global Metal Forging Market
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