Mexico Automotive Parts Die Casting Market Projected to Surpass $2 Billion by 2023 – Top Key Players (Dynacast, Endurance Group, Texas Die Casting, Castwel Autoparts, Die Casting Solutions Gmbh)

The Mexico automotive parts die casting market is expected to reach close to USD 2.0 billion by 2023. The market is expected to register a high CAGR during the forecast period. The market for magnesium die cast parts and zinc die cast parts in Mexico automotive is expected to grow at a CAGR close to 12% and 2%, during the forecast period, respectively.

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Market Scenario

Mexico’s auto industry is highly vibrant and well-integrated with its counterpart in the United States and Canada under the framework of NAFTA. Mexico is the 7th largest producer of vehicles and 4th top exporter of vehicles, globally. Mexico is also the United States’ largest auto parts provider. Mexico’s exports USD 46.0 billion in auto parts and USD 49.3 billion in vehicles to United States. 80% of Mexico’s vehicle production had foreign markets as its final destination. As a result, any change in emission norms in destination country will also have an impact on Mexico’s die casting market.

Key Developments in the Market

January 2017: Dynacast acquires Taurus ’80, a precision zinc die casting company.

Major players:

DYNACAST, ENDURANCE GROUP, TEXAS DIE CASTING, CASTWEL AUTOPARTS, DIE CASTING SOLUTIONS GMBH, AND MINO INDUSTRY, amongst others.

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Environmental Regulations

Dependence of the automobile manufacturers on the environmental agency regulations and a recent move by EPA of raising the mile per gallons standards to 35.5 miles per gallon by 2016 and then 54.5 mpg by 2025, is expected to drive the die casting industry for production of light weight automotive parts.

Technology Trends

The introduction of simulation-based castings is one of the key trends that will drive the growth prospects for the global die casting market in the forthcoming years. The simulation-based casting process is used to produce components that are cost-effective, have high-precision, and reliable. This casting process involves various benefits, such as it ensures an easy and accurate fault detection. Simulation-based manufacturing results in reduced wastage and operational costs. Additionally, they can also predict defects and their location easily and more precisely than the conventional method.

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This release was published on openPR.