Aluminum Castings are hollow shapes created for the sole purpose of the manufacture of components in any customized shape. Applications in end-use industries such as fabrication and automotive can beckon its use highly. The global aluminum castings market report by Market Research Future (MRFR) highlights pertinent points in the form of drivers, challenges, and trends in conjunction with predictions for the period of 2021 to 2030.
Aluminum Castings Market Scenario -
The global aluminum castings market is set to exhibit a 7.56% CAGR over the forecast period to touch a value of USD 92.8 billion by 2030. It is expected a massive windfall owing to massive applications in automotive and other industries. The expansion of the automotive sector is an indicator of the positive growth trajectory of the market. This can be due to the large disposable income levels of customers and rapid urbanization. Massive demand for lightweight vehicles can induce a demand for aluminum castings.
Heavy use of aluminum in the building & construction sector can bolster the global market revenue. Rise of infrastructural projects globally and initiatives by governments of constructing federal buildings can trigger a demand for aluminum castings. The low density of the element has found takers in the defense sector. The military requires lightweight components for vehicles and weapons leading to heavy investment into the sector and creating demand in the market. Availability of magnesium castings as a substitute to aluminum can threaten the global aluminum castings market growth.
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Aluminum Castings Market - Eminent Firms:
Alcast Technologies Ltd. (Canada), Alcoa Corporation (USA), Aluminum Corporation of China Limited (China), Arconic Inc. (USA), Dynacast Charlotte (USA), Endurance Technologies (India), Gibbs Die Casting Corp (USA), Kaiser Aluminum (USA), Martinrea Honsel (Germany), Nemak S.A.B. de C.V. (Mexico), Rio Tinto (UK), Rockman Industries Ltd. (India), and Ryobi Limited (Japan).
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Segment Study of Aluminum Castings Market :-
The global aluminum castings market report is segmented by end-user industry and process.
End-user industries covered in the report are transportation, building & construction, industrial, and others. The transportation segment held the lion’s share of the global aluminum castings market in 2017. Heavy demand for aircraft and vehicles can bolster the growth of the segment. Popularity of sports vehicles made possible by events, rallies, and races will spur the demand for the production of sports vehicles and in turn the aluminum castings market demand. On the other side, the building & construction segment is deemed to exhibit the highest CAGR during the forecast period.
By process, the global aluminum castings market is segmented into permanent mold casting, die casting, and sand casting. Die casting has captured the largest market share in 2017 and will dominate till the end of the forecast period. The process used in the fabrication of automotive parts such as flywheel, gears, cylinder, engine, and others. Mass production of vehicles as witnessed in developing economies can fuel the demand of the segment in the market till 2023.
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Aluminum Castings Market Market - Geographical Analysis :-
Geographically, the global aluminum castings market covers Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA).
North America held the dominant position in the global aluminum castings market in 2017 due to the production of utility and sports vehicles. Environmental regulations by governments have led to automotive manufacturers scrambling to develop lightweight components to adhere to policies. Passenger cars are required to reach a fuel economy target of 54.5 miles per gallon by 2026 to curb the emission levels of greenhouse gases.
APAC is expected to be the fastest growing in the market owing to the burgeoning manufacturing sector in China and India. The move by prominent automotive manufacturers to developing economies such as India due to lax policies and supportive subsidies by governments can skyrocket the demand for aluminum castings.
Industry Updates :-
April 11, 2019: Wagstaff Inc., a U.S. based aluminum castings equipment manufacturer is likely to add a 55,900-square-foot building at its flagship facility at the Flora Road, as the company predicts market expansion domestically as well as abroad. The new building will accommodate the company’s shipping department, with larger doors planned in order to accommodate equipment and trucks.
December 2021: TRIMET Aluminium SE began manufacturing of aluminium sows in November with the commissioning of a new aluminium casting machine at its Hamburg (Germany) location. The aluminium smelter can now cast approximately 45,000 metric tonnes of aluminium produced via electrolysis each year, nearly doubling its capacity as a result of the investment. Apart from the increased productivity, the new casting machine is a significant improvement in terms of worker health and safety: The entire process is automated, from casting, skimming, and identifying the sows to weighing and putting them on a conveyor belt. Thus, robots accomplish tasks that previously required manual labour. The new machine is a casting carousel equipped with 18 moulds. Every two hours, it can cast 18 metal sows weighing 780 kilos apiece. The new technical standard ensures that products are continuously of excellent quality.
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The demand within the global aluminium castings market has been rising on account of advancements in the automotive industry, finds Transparency Market Research (TMR).
The global market for aluminium castings hosts a large number of companies that have earned a name for themselves on the global front.
The strategic efforts of the leading vendors in the global market for aluminium castings have helped them in fortifying their roots across the world.
Furthermore, the presence of a huge chunk of small vendors makes the global market for aluminium castings extremely fragmented.The small market players in the global market for aluminium castings are projected to follow the footsteps of the established firms in order to reap profits.
Most of the consumers in the global market for aluminium castings are associated with the industrial sector where quality and durability are the most important standpoints.
Hence, the small market players are expected to concentrate on elevating their quality standards in order to earn the trust of the end-users.A report added by Transparency Market Research (TMR) predicts that the global aluminium castings market would expand at a sluggish CAGR of 5.2% over the period between 2017 and 2025.
Market SegmentationDivision of the market into its various vital parts has been performed in the segmental analysis of the report on the basis of process, end-use industry, and region.
The transportation segment captured the largest share of the market, while the building & construction segment is projected to witness the highest CAGR during the forecast period.Regional AnalysisThe North American aluminum castings market size has been observed to have captured the largest share of the market.
North America is a largely well-developed region with several economically strong countries such as U.S and Canada where there are comparatively high disposable incomes.
The region has several important emerging economies that have successfully established themselves as a manufacturing hub for automotive and consumer appliances.
Countries such as India, China, South Korea, and Japan are among the key country-level markets where increasing economic growth, combined with rapid urbanization, industrialization and a rise in disposable income is expected to boost demand for consumer electronics, automotive vehicles, and construction activities.Key PlayersEndurance Technologies, Rio Tinto, Kaiser Aluminum, Aluminum Corporation of China Limited, Ryobi Limited, Alcast Technologies Ltd., Arconic Inc., Nemak S.A.B.
de C.V., Rockman Industries Ltd., Gibbs Die Casting Corp, Dynacast Charlotte, Alcoa Corporation, and Martinrea Honsel are some market players of importance participating the competitive landscape of the global aluminum casting market.
Market Research Future Published a Half-Cooked Research Report on Global Aluminum Castings Market Research Report – Global Forecast to 2023Market Insights:Aluminum is among the most commonly used non-ferrous metals and has an immense range of applications in transportation, packaging, and a number of other consumer goods.
The automotive sector is growing at a rapid pace due to urbanization and the increase in disposable income has gone a long way in supporting the astounding growth of the automotive industry.
Magnesium has been observed to have a lower density than aluminum and has displayed higher strength in various similar applications.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/6719Market Segmentation:Division of the market into its various vital parts has been performed in the segmental analysis of the report on the basis of Process, End-Use Industry and Region.
The transportation segment captured the largest share of the market, while the building & construction segment is projected to witness the highest CAGR during the forecast period.Key Players:Endurance Technologies, Rio Tinto, Kaiser Aluminum, Aluminum Corporation of China Limited, Ryobi Limited, Alcast Technologies Ltd., Arconic Inc., Nemak S.A.B.
de C.V., Rockman Industries Ltd., Gibbs Die Casting Corp, Dynacast Charlotte, Alcoa Corporation, and Martinrea Honsel are some market players of importance participating the competitive landscape of the Global Aluminum Casting Market.Browse Key Industry Insights spread across 100 pages with 35 market data tables & figures & charts from the report, “Aluminum Castings Market Information: By End-Use Industry (Building & construction, Industrial, Transportation, Others), Process (Die Casting, Sand Casting, Permanent Mold Casting) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/aluminum-castings-market-6719Regional Analysis:The North American Aluminum Castings Market has been observed to have captured the largest share of the market.
North America is a largely well-developed region with several economically strong countries such as U.S and Canada where there are comparatively high disposable incomes.
Global Aluminum Castings market expansion is being boosted by the fast-rising demand income, decreasing industrialization, product recognition among consumers, emerging technological advancements market businesses, and structure that is secure.
Growth-drivers are anticipated to add notable growth into the market in the not-too-distant future.The global Aluminum Castings market study will help you investigate the market share and trends according to the top industry giants and help you recognize the threats and challenges the market is expected to face.
IMR Market Reports have a systemic approach for assessing the report and conducting the analysis by the authentic data provided and researched by our expert analysts.Key Player Mentioned:Arconic Inc.Dynacast InternationalEndurance Technologies Ltd.NemakRyobi Ltd.Alcoa CorporationEagle Aluminum Cast Products+Alcast TechnologiesConsolidated MetcoFor Right Perspective & Competitive Insights, Request a Sample @: https://imrmarketreports.com/request/20190The study needed to concentrate on Leading manufacturers environments, and analysis for its market that is Aluminum Castings.
The researchers focused on development tendencies in addition to the sector.
Product Segment Analysis: Die CastingPermanent Mold CastingApplication Segment Analysis: AutomotiveNon-AutomotiveRegional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.Regional evaluation is yet another highly vast region of the research and analysis study of the Global Aluminum Castings Market presented in the report.
The historical and forecast period 2021 to 2027 gives accurate and detailed country-wise quantity evaluation along with region-wise market size analysis from their worldwide marketplace.Get Your Copy at a Discounted Rate!!!
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