Built for executives and teams involved in growth planning, this research offers a data-driven view of the aluminum casting industry’s direction and competitive environment.
What Is The Current Outlook For The Aluminum Casting Market By 2025?
The aluminum casting market size has grown strongly in recent years. It will grow from $69.78 billion in 2024 to $73.64 billion in 2025 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to rapid economic growth, increased infrastructure spending, growing demand for sustainable and eco-friendly construction materials, increased urbanization, rise in industrialization.
The aluminum casting market size is expected to see strong growth in the next few years. It will grow to $98.05 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increase in the production of electric vehicles, renewable energy infrastructure, increased focus on circular economy, growing demand for lightweight and easy-to-install construction materials, infrastructure development. Major trends in the forecast period include advancements in casting technologies, additive manufacturing integration, advancements in alloy development, customization and design complexity, digitalization in casting simulation.
Get your free sample today:
What Are The Key Driving Factors For The Growth Of The Aluminum Casting Market?
Growing demand in the automobile industry propels the market growth in the aluminum casting market. An automobile, often known as a motorcar or a car, is a four-wheeled vehicle that is designed primarily for passenger transportation and is powered by an internal combustion engine that runs on volatile fuel. Currently, more than 50% of individual components in automotive vehicles such as transmission housings and pistons are made of aluminum casting. The global production of automobiles has increased year over year, creating new potential for market expansion around the world. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021.Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase. Therefore, the rising demand for aluminum products in the automobile industry drives the growth of aluminum casting market.
Global Aluminum Casting Market Report Segmentation
The aluminum casting market covered in this report is segmented –
1) By Process: Die Casting, Sand Casting, Permanent Mold Casting
2) By End-User: Transportation sector, Building and Construction sector, Industrial sector, Other End-Users
Subsegments:
1) By Die Casting: High-Pressure Die Casting, Low-Pressure Die Casting, Vacuum Die Casting
2) By Sand Casting: Green Sand Casting, Resin Sand Casting, Shell Mold Casting
3) By Permanent Mold Casting: Gravity Permanent Mold Casting, Pressure Permanent Mold Casting
What Are The Key Trends And Market Opportunities In The Aluminum Casting Sector?
The partnership between companies is a key trend gaining popularity in the aluminum casting market. Companies manufacturing aluminum products are undergoing partnerships to develop new technologies and products to meet the growing demand for innovating aluminum casting products from various end customers. For instance, In September 2024, Constellium SE, a UK-based aluminum products and solutions, and aluminum recycling company, partnered with TESEM Group, a Spain-based manufacture of metal luxury packaging to promote sustainable aluminum manufacturing through a project named 'Closing the Loop.' The collaboration aims to create a closed-loop system for recycling high-purity aluminum. Tesem has made investments to enhance its equipment for effectively cleaning and processing aluminum scrap. The R&D teams from both companies have worked together to ensure that the scrap meets stringent quality standards and to adjust casting parameters to accommodate increasing amounts of recycled material.
Who Are The Leading Players In The Aluminum Casting Market?
Major companies operating in the aluminum casting market include Alcoa Corporation, Aluminum Corporation of China Limited, Alcast Technologies Ltd., Bodine Aluminum Inc., Consolidated Metco Inc., Dynacast International Inc., Gibbs Die Casting Corporation, Martinrea Honsel Germany GmbH, Ryobi Ltd., Walbro Corp., China Hongqiao Group Limited, Arconic Inc., Eagle Aluminum Cast Products Inc., American Aluminum Casting Company, Architectural Grille LLC, Sussman Architectural Products Inc., California Sealing Solutions Inc., P. Q. D. International Inc., A&B Die Casting Co. Inc., Zetwerk Pvt. Ltd., Aluminum Die Casting Company Inc., Casting Solutions Components S. A de CV, Regensburger Druckgusswerk Wolf GmbH, Apppex GmbH, Pace Industries Pvt. Ltd., Craft Pattern & Mold Inc., Empire Die Casting Co., General Aluminum Mfg. Company, Harrison Steel Castings Co., Intermet Corporation, Kurt Die Casting, LaSalle Bristol Inc.
View the full aluminum casting market report here:
Which Region Is Projected To Hold The Largest Market Share In The Global Aluminum Casting Market By 2029?
Asia-Pacific was the largest region in the aluminum casting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aluminum casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Contact Us:
The Business Research Company
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: info@tbrc.info
Follow Us On:
LinkedIn: The Business Research Company | LinkedIn
Comments
Post a Comment