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Aluminum Casting Market

Published Date : Jun 2024 | Forecast Year : 2019

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Aluminum Casting Market Size, Share & Trends Cover Analysis By Product Type (Die Casting, Permanent Mold Casting, Sand Casting, Others), By Product Application (Transportation, Industrial, Building & Construction, Electrical & Electronics, Consumer Goods, Others) Growth, Regional Outlook, and Forecast 2024 – 2032

Report ID: AG933

Published : Jun 2024

Pages : 155

Category : Chemical & Material

Format : Aluminum Casting Market

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 151.50 Billion
MARKET SIZE (2023)USD 63.2 Billion
CAGR (2023-2029)9.1%
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPEDie Casting
Permanent Mold Casting
Sand Casting
Others
BY APPLICATIONTransportation
Industrial
Building & Construction
Electrical & Electronics
Consumer Goods
Others
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSAlcoa Corporation, Dynacast International, Endurance Technologies Limited, Gibbs Die Casting Corp., Martinrea Honsel, Nemak, Rio Tinto, Ryobi Limited, Shiloh Industries, Bodine Aluminum, Inc., Consolidated Metco, Inc., GE Appliances (a Haier company), Leggett & Platt, Incorporated, Rockman Industries, Teksid Aluminum.

Introduction:

The aluminum casting market is an important part of the global manufacturing industry, driven by the light, durable and corrosion-resistant properties of aluminum. Aluminum casting involves pouring molten aluminum into molds to create parts and products with complex geometries and high strength-to-weight ratios. This process is widely used in various industries, including automotive, aerospace, construction and electronics, due to aluminum's excellent thermal and electrical conductivity. In particular, the automotive industry uses aluminum casting to produce lightweight components that improve fuel efficiency and reduce emissions.

Aluminum Casting Market was valued at USD 63.2 Billion in 2023. It is projected to reach USD 151.50 Billion by 2032, growing at a CAGR of 9.1% during 2024-2032.

Innovations in casting techniques, such as injection molding and sand casting, improve production efficiency and product quality. The growth of the market is accelerated by the growing demand for lightweight materials, the development of production technologies and the search for sustainable and energy-efficient solutions. As the industry continues to focus on weight reduction and performance, the aluminum casting market is poised for continued growth.

Overview:

The aluminum casting market refers to the global industry involved in the production and distribution of aluminum castings. Castings are components or parts made by pouring molten aluminum into a mold and allowing it to solidify into the desired shape. Due to their light weight, strength and corrosion resistance, these castings are widely used in various fields such as automotive, aerospace, construction, electronics and others.

Aluminum Casting Market

Size, by Product, - (USD Billion)

Die Casting

Permanent Mold Casting

Sand Casting

Others

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

9.1%

The Forecast Market

Size for in USD:

$151.50 Billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Aluminium Casting Market Drivers:

  • Expanding Automotive Industry: One of the largest markets for aluminum castings is the automotive industry, which mainly uses them for structural, chassis, engine and power components. Aluminum castings are expected to become more common in the automotive industry as consumer demand for lighter, more fuel efficient and less polluting cars increases. This accelerates market expansion.

  • Advantages of Aluminum Castings: Aluminum castings have a high strength-to-weight ratio, excellent corrosion resistance, strong thermal conductivity and the ability to create complex part geometries. Due to these properties, aluminum castings are in high demand in various industries such as electronics, automotive, aerospace and construction.

  • Growing Need for Aluminum Alloys: Due to their high strength, lightness and adaptability, aluminum alloys are used as materials of choice in many different industries. Since aluminum alloys are required for casting operations, including casting, sand casting and permanent casting, there is a direct relationship between the demand for aluminum castings and the demand for aluminum alloys.

  • Infrastructure Development and Construction: Aluminum castings are widely used in the construction industry to produce structural components, door and window frames and roofing materials. The global expansion of building renovation, urbanization and infrastructure projects increases the need for aluminum products in the construction industry.

  • Aviation Growth: Engine casings, wing structures, landing gear and airframe components are among the many aircraft components made from aluminum castings. The aluminum casting market is expanding due to the increasing demand for space exploration vehicles, military aircraft and commercial aircraft.

  • Electrical and Electronic Applications: Aluminum castings are used in the electrical and electronic sector to produce components such as heat sinks, housings, housings and connectors. The market for aluminum castings is expected to increase in this sector as the demand for electronic equipment, renewable energy sources and electric vehicles increases.

  • Energy Efficiency and Durability: Aluminum requires less energy to recycle than other materials because it is a highly recyclable material. The market is growing due to the emphasis on sustainable development and energy efficiency, which encourages the use of aluminum smelting products as green substitutes in several industries.

  • Technological Advances in Casting Processes: The accuracy, efficiency and economy of aluminum casting processes are improved by continuous advances in casting technologies such as computer-aided design (CAD), automation, simulation software and additive manufacturing (3D printing). Advances in technology make it possible to manufacture complex geometries, shorten delivery times and improve product quality, all of which contribute to market expansion.

Aluminium Casting Market Segmentation:

By Type:

  • Die Casting

  • Permanent Mold Casting

  • Sand Casting

  • Others

By Application:

  • Transportation

  • Industrial

  • Building & Construction

  • Electrical & Electronics

  • Consumer Goods

  • Others

By Region:

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa

Aluminum Casting Market

Share, by end user, (USD Billion)

Analytica Global 63.2 Billion %

Transportation

Industrial

Building & Construction

Electrical & Electronics

Other End-Users

b0d51e3055fd6f23ff6a384a6e091406.svg

151.50 Billion

Total Market Size

USD (Billion),

9.1%

CAGR

-

Aluminium Casting Market Key Players:

  • Alcoa Corporation

  • Dynacast International

  • Endurance Technologies Limited

  • Gibbs Die Casting Corp.

  • Martinrea Honsel

  • Nemak

  • Rio Tinto

  • Ryobi Limited

  • Shiloh Industries

  • Bodine Aluminum, Inc.

  • Consolidated Metco, Inc.

  • GE Appliances (a Haier company)

  • Leggett & Platt, Incorporated

  • Rockman Industries

  • Teksid Aluminum

Aluminium Casting Market Opportunities:

  • Growth of The Automotive Industry Light Vehicles: Demand for light vehicles is increasing to improve fuel efficiency and reduce emissions. Aluminum casting offers a viable solution due to its lightness and strength. The growth of electric cars presents significant opportunities for aluminum smelting as it is widely used in the production of electric vehicle components such as batteries, engine cases and structural parts.

  • Aerospace and Defense Aircraft manufacturing: Aluminum casting is very important in the aerospace industry for the production of light but strong components such as engine parts, landing gear and structural parts. The defense sector requires high-performance materials for weapons, vehicles and equipment, providing a constant demand for advanced aluminum casting solutions.

  • Construction and Infrastructure Sustainable Building Materials: Aluminum's recyclability and strength make it an ideal choice for sustainable building practices. Emphasis on green building standards will increase demand. With the increasing number of global infrastructure projects, especially in developing economies, there is a significant opportunity for aluminum castings in bridges, railways and public transport systems.

  • Industrial Machinery and Equipment Manufacturing Equipment: The need for durable and lightweight components in manufacturing machinery is driving the demand for aluminum castings. Advances in automation and robotics require precision parts, often made of cast aluminum.

  • Electronics and Telecommunications Consumer Electronics: Aluminum casting is used in the manufacture of lightweight and durable casings for laptops, smartphones and other electronic devices. The expansion of 5G networks and related infrastructure offers opportunities to cast aluminum in antennas, housings and other components.

  • Advanced Medical Devices: The medical device industry needs lightweight, durable and corrosion resistant components that aluminum casting can provide. aluminum alloys are used in the manufacture of prostheses and implants due to their biocompatibility and strength. 

  • Environment and Energy Sector Renewable Energy: Aluminum castings are used in renewable energy applications such as wind turbine components and solar panel frames. The water treatment industry requires corrosion-resistant materials, so aluminum is an ideal choice for a variety of applications.

  • Technological Advances3D Printing and Additive Manufacturing: Advances in 3D printing and additive manufacturing offer new opportunities to produce more complex aluminum castings with greater precision and lower costs. The development of new aluminum alloys with improved properties (eg. higher strength, better corrosion resistance) can open up new applications and markets.

  • Customization and Niching Custom Solutions: A growing trend is toward customized aluminum casting solutions that meet specific industrial needs, providing opportunities for specialist manufacturers. Research into markets such as luxury goods, sporting goods and art installations can provide unique opportunities for aluminum castings.

Aluminum Casting Market

Size, by Product, - (USD Billion)

APAC $ 23

The Market will Grow

At the CAGR of:

9.1%

The Forecast Market

Size for in USD:

$151.50 Billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Aluminium Casting Market Restraints:

  • High Energy Consumption: Smelting aluminum requires significant energy inputs, mainly due to the high melting point of aluminum and the energy-intensive processes of smelting and melting.

  • Environmental Problems: Aluminum smelting can generate emissions and wastes that cause environmental problems, including greenhouse gases and smelter waste.

  • Costs of Raw Materials: Fluctuations in the prices of raw materials such as aluminum alloys and scrap can affect the cost-effectiveness of aluminum smelting.

  • Intensive Capital Investment: Setting up and running aluminum smelters requires significant capital investment in equipment, technology and infrastructure.

  • Competitive Pressures: Global competition, especially from regions with lower labor costs and different regulatory environments, can affect market dynamics and the profitability of aluminum casting companies.

  • Technological Advances: Keeping up with technological advances in cast processes and materials is essential for competitiveness, but requires constant investment and adaptation.

  • Regulatory Compliance: Compliance with environmental regulations and safety standards increases the complexity and cost of aluminum smelting, affecting operations and profitability.

  • Supply Chain: Any supply chain, including raw material or transportation issues, can affect production schedules and delivery commitments.

Recent Development:

Rockman is a part of Multi Billion US Dollar Hero Group having more than 35,000 employees.

Aluminum Casting Market TO (USD BN)

Aluminum Casting Market

CAGR OF

9.1%

Aluminum Casting Market

b0d51e3055fd6f23ff6a384a6e091406.svg
Analytica Global 151.50 Billion %

Frequently Asked Questions (FAQs):

Q.1 What is projected size and market growth of Aluminium Casting Market?

Ans: Aluminum Casting Market was valued at USD 63.2 Billion in 2023. It is projected to reach USD 151.50 Billion by 2032, growing at a CAGR of 9.1% during 2024-2032. 

Q.2 What segments are covered in the Aluminium Casting Market?

Ans: Aluminium Casting Market is Segmented on the basis of Type, Application, and Region.

Q.3 What are the top players operating in the Aluminium Casting Market?

Ans: Alcoa Corporation, Dynacast International, Endurance Technologies Limited, Gibbs Die Casting Corp., Martinrea Honsel, Nemak, Rio Tinto, Ryobi Limited, Shiloh Industries, Bodine Aluminum, Inc., Consolidated Metco, Inc., GE Appliances (a Haier company), Leggett & Platt, Incorporated, Rockman Industries, Teksid Aluminum.

Aluminum Casting Market - Global Outlook & Forecast 2024-2029

Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global

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