Asia-Pacific Aluminum Casting Market, By Process (Expendable Mold Casting and Non-Expendable Mold Casting), Source (Primary(Fresh Aluminium) and Secondary(Recycled Aluminium), Application (Intake Manifolds, Oil Pan Housings, Structural Parts, Chassis Parts, Cylinder Heads, Engine Blocks, Transmissions, Wheels and Brakes, Heat Transfers and Others), End-User (Automotive, Building and Construction, Industrial, Household Appliances, Aerospace, Electronic and Electrical, Engineering Tools and Others) Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest Of Asia-Pacific), Market Trends and Forecast to 2028.
Market Analysis and Insights: Asia-Pacific Aluminum Casting Market
Asia-Pacific aluminum casting market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 8.3% in the forecast period of 2021 to 2028 and is expected to reach USD 64,296.36 million by 2028.
The aluminum casting provides several advantages to the manufacturers as well for the end consumers. The process allows the producers to produce parts faster and higher than any other alloy material. The products formed through the casting process are corrosion-resistant, versatile, and can be used for different purposes. Further, it also allows the manufacturers to manufacture various types of products through these aluminum parts.
The lightweight materials accelerate a lighter object in less energy than the heavier one and further help increase the efficiency of the vehicle. With the use of lightweight materials, automobiles can control the emission level and provide a safe and integrated electronic system without increasing the vehicle's weight. Further, it also helps in keeping the all-electric range of plug-in vehicles constant. Thus, we can say that aluminum usage has been increased very rapidly in the automotive industry due to its high tensile strength and lightweight feature. So the casting of aluminum gets increased, which boosts the market in the future.
The major restraint found in the process of die casting is the high capital cost required at the time of initiating the process. The process requires huge investment at the time of casting. The manufacturers should look for mass production because the cost of the equipment and the machines needed for the casting are very high. Therefore, to consider it as an economic process, the manufacturer should focus on large volume production. The wide application of aluminum casting in a broad range of networking and infrastructure equipment is boosting the sales and demand of the global aluminum casting market and acting as an opportunity for the market. The chemical and mechanical processes involved in aluminum casting produce several toxic by-products and consume excessive energy, which acts as a challenge for the market.
This aluminum casting market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Aluminum Casting Market Scope and Market Size
Asia Pacific aluminum casting market is segmented on the basis of process, source, application, and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of process, the market is segmented into expendable mold casting and non-expendable mold casting. In 2021, the non-expendable mold casting segment is expected to dominate the Asia-Pacific market because the demand for aluminum products has increased very rapidly, made from the die casting process as it provides accurate dimension products, smooth and textured surface metal parts.
- On the basis of source, the market is segmented into primary (fresh aluminum) and secondary (recycled aluminum). In 2021, primary (fresh aluminum) is expected to dominate the Asia-Pacific market as the cost incurred in recycling these aluminum products is much higher than fresh aluminum products.
- On the basis of application, the 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. In 2021, wheels and brakes are expected to dominate the market in Asia-Pacific; due to the increased demand for automobiles in the local market, the demand for wheels and brakes has been growing, which further augmented the demand for aluminum casting products in the region.
- On the basis of end-user, the market is segmented into automotive, building and construction, industrial, household appliances, aerospace, electronics and electrical, engineering tools, and others. In 2021, automotive is expected to dominate the Asia-Pacific market as the demand for electric vehicles increases. Also, the government has taken the initiative to upgrade the industry from low-cost mass production to higher value-added advanced manufacturing.
Asia-Pacific Aluminum Casting Market Country Level Analysis
Asia Pacific aluminum casting market is segmented on the basis of process, source, application, and end-user.
The countries covered in the Aluminum Casting market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, the Philippines, and the Rest of Asia-Pacific. China is dominating the Asia Pacific aluminum casting market due to the availability of the raw material as China is the largest producer of aluminum in the world.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growth in the Asia-Pacific aluminum casting market
Asia-Pacific aluminum casting market also provides you with detailed market analysis for every country's growth in the installed base of different kinds of products for the market, the impact of technology using lifeline curves and changes in infant formula regulatory scenarios, and their impact on the Aluminum Casting market. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Aluminum Casting Market Share Analysis
Asia-Pacific aluminum casting market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the Asia-Pacific Aluminum Casting market.
The major players covered in the report are Alcoa Corporation, Endurance Technologies Limited, Ryobi Limited, DyCast Specialties Corporation, Consolidated Metco, Inc., Alcast Technologies, Ningbo Beilun Create Mould Machine Co., Ltd, Pyrotek, GIBBS, Dynacast, Reliance Foundry Co. Ltd., TOYOTA INDUSTRIES CORPORATION, LA ALUMINUM, TPi Arcade, NINGBO INNOVAW MECHANICAL CO., LTD., and Modern Aluminum Castings Co., Inc. among other players domestic and regional.
DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In July 2020, LA ALUMINUM, expanded its mold storage building to increase its overall operational efficiency. Additionally, the building expansion will help in reducing overall mold preparation time by at least 15%
- In August 2017, Dynacast opened a new office in Japan, which will help the company to increase its presence in the global markets. It will also help the company to meet its mission of geographical expansion to increase presence in key growth markets
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