- Sand Casting
- Die Casting
- Permanent Mold Casting
Aluminum Casting Market size valued USD 57.61 billion in 2022 and is poised to grow at a CAGR of 7.14% from 2023 to 2029. Aluminum casting is the technique of moulding liquid aluminium under high pressure into a die cavity to create simple to complicated items. The mould is manufactured with accuracy in the desired shape, size, quality, and finish surface. These are the lightest die-cast alloys, have the best surface polish, and can endure the highest working temperature of any die-cast alloy. Aluminum is the raw material which is converted into products by using the casting process which is the original and most widely used process. However, advancements have been taken place in the field of aluminum casting but the principle remains the same, molten aluminum is poured into a mold to duplicate the desired pattern. However, the automotive industry is the largest market for aluminum casting. This report studies global aluminum casting market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global aluminum casting market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Fastest Growing Market
The increasing demand from automobile and consumer appliances coupled with rising investments in construction, mining, and electronics is anticipated to drive the growth of the market over the forecast years. Moreover, replacement of iron and steel with aluminum in the automobile sector and industrial expansion in emerging economies is another factor fuelling the growth of the market. Furthermore, increasing military investments in Light weight weapon systems is one of the main factors driving the market growth.
The key segments covered in the aluminum casting market are: by process, end use sector and geography
The aluminum casting market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The aluminum casting market key players are: Alcoa Corporation, Rio Tinto, Aluminum Corporation of China Limited (Chalco), Gibbs Die Casting Corp, Arconic Inc.