Automotive Parts Magnesium Die Casting Market is expected to register a high CAGR during the forecast period, 2018 to 2023| Major Vendors - BRABANT ALUCAST, CHICAGO WHITE METAL CASTING, GEORG FISCHER LIMITED, GIBBS DIE CASTING, MAGIC PRECISION, PACE INDUS

Market Analysis:

Magnesium is better at casting components with thinner walls and tighter tolerances than aluminum. Almost as light-weight as plastic, magnesium has the advantage of greater strength and rigidity along with inherent EMI/RFI shielding, durability, heat-dissipation, and full recyclability. China with its magnesium reserve is expected to emanate as the leading supplier of the magnesium die cast parts.

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The growing market for light weight vehicles to reduce COu2082 emissions is identified as one of the primary drivers for growth in this market. Various environmental regulations has have induced automotive manufacturers to shift their focus to the use of light-weight metals for producing automobile parts. 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 easy and accurate fault detection.

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Market Segments:
Automotive Parts Magnesium Die Casting Market is segmented by:
1. Production Process Type: Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, Semi Solid Die Casting
2. Application Type: Engine Parts, Transmission Components, Body Parts, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market: Rules imposed by Occupational Safety and Health Administration (OSHA) to develop the technical workforce in the die casting industry are expected to improve the overall production of the market. Moreover, initiatives by National Air Duct Cleaners Association (NADCA) to advance the technical workforce in the industry of die casting are also anticipated to foster the market growth.

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