Aluminum Casting Market by Application, Process, and Geography - Forecast and Analysis 2021-2025
- Published: Apr 2021
- Pages: 120
- SKU: IRTNTR43909
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The aluminum casting market has the potential to grow by 5944.80 thousand MT during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.24%.
This aluminum casting market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by process (die casting, permanent mold casting, and others), application (automotive, heavy machinery and industrial, aerospace and defense, construction, and others), and geography (APAC, Europe, North America, MEA, and South America). The aluminum casting market report also offers information on several market vendors, including Alcoa Corp., Aluminum Corp. of China Ltd., ATEK Metal Technologies LLC, Consolidated Metco Inc., Dynacast, Endurance Technologies Ltd., Kaiser Aluminum Corp., NEMAK SAB de CV, Rio Tinto Ltd., and United Company Rusal IPJSC among others.
What will the Aluminum Casting Market Size be in 2021?
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Aluminum Casting Market: Key Drivers and Trends
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing use of aluminum casting in EVs is notably driving the aluminum casting market growth, although factors such as high volatility in LME prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the aluminum casting industry get your FREE report sample now.
- The growth in the electric vehicles (EV) market is expected to drive the growth of the global aluminum casting market during the forecast period.
- Aluminum castings are increasingly being used in electric automobiles to reduce their weight and lower energy requirements.
- Aluminum finds applications in various parts of a vehicle, such as a chassis, body, and wheels. In addition, aluminum is also used in the compartment that carries electric batteries in EVs.
- The thermal transfer capabilities of aluminum help in regulating the temperature around the battery modules in warm or cold weather.
- EVs are gradually emerging as the future of the automotive industry. Norway is one of the major markets for electric cars as the volume sales of electric cars in the country had crossed 40% of the total new car sales in 2019.
This aluminum casting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.
Who are the Major Aluminum Casting Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Alcoa Corp.
- Aluminum Corp. of China Ltd.
- ATEK Metal Technologies LLC
- Consolidated Metco Inc.
- Endurance Technologies Ltd.
- Kaiser Aluminum Corp.
- NEMAK SAB de CV
- Rio Tinto Ltd.
- United Company Rusal IPJSC
The aluminum casting market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the aluminum casting market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Aluminum Casting Market?
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51% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the aluminum casting market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing construction and automobile industries will facilitate the aluminum casting market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
What are the Revenue-generating Process Segments in the Aluminum Casting Market?
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The demand for die casting to manufacture automobile aluminum casting components is expected to increase in sync with the growth of the global automobile industry. Aluminum is the most preferred metal in die castings, followed by zinc, magnesium, zinc-aluminum alloy, and copper-aluminum alloy due to its moderate melting point, lightweight, and corrosion resistance properties. The high demand for aluminum die casting among end-users is attributable to its multiple advantages, such as high dimensional accuracy and the ability to mold and produce thin wall sections. These factors are expected to drive the aluminum casting market share growth by the die casting segment.
Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the aluminum casting market size.
What are the Key Factors Covered in this Aluminum Casting Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive aluminum casting market growth during the next five years
- Precise estimation of the aluminum casting market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the aluminum casting industry across APAC, Europe, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of aluminum casting market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Growing use of aluminum casting in electric vehicles (EV)
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