Aluminum Casting Market Growth Accelerated by Healthy CAGR, Upcoming Trends and Key Companies Analysis | Alcoa Corporation, United Company Rusal

Aluminum Casting Market is estimated to reach USD XX billion by 2028

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Aluminum Casting Market.

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According to the report due to increasing demand from the automotive and construction industry for various applications, it is expected that the market will be driven with growth, for the aluminum casting market during the forecast period.

The demand for aluminum casting is experiencing significant growth due to technological advancements and high aluminum casting performance. The market for aluminum casting has huge opportunities as aluminum is favored over iron and steel products in the automotive industry; moreover, investments are growing in the automotive industry, which will drive demand for cast aluminum products.

Around 30-40 percent of aluminum is used per lightweight vehicle each year and is likely to reach 70 percent in the coming years due to strict legislation to reduce fuel emissions worldwide. Increasing demand for lightweight vehicles is expected to boost demand for aluminum casting due to rising environmental pollution, rising disposable incomes and changing consumer lifestyles.

With an emphasis on both organic and inorganic growth strategies, there have been several primary developments done by major companies like Alcoa Corporation, United Company Rusal, China Hongqiao Group Limited, Gibbs Die Casting Corp, Aluminum Corporation of China Limited.

Segmentation for better understanding of this market and its growth prospects:

Based on the process, the market for the aluminum casting is divided into die casting, permanent mold casting, and sand casting. The die casting segment's dominant market position can be attributed to the process's excellent efficiency and economical nature which offers a wider range of shapes and components than other casting techniques. Die casting is commonly used for parts such as engine blocks, wheel spacers, and valve coverings in the automotive sector.

Sand casting is a process of manufacturing aluminum products. Includes a furnace, fabric, template, and sand mold. In the furnace, the metal is melted and then poured into the sand mold which takes the desired form. It is a very slow process as it takes time to solidify and refrigerate. It is also affordable for small manufacturing quantities.

Based on End user, one of the biggest users of aluminum casting in the automotive industry, as it offers a huge market for cast products using ferrous and nonferrous metals and their alloy. It is used in commercial vehicles and motorbikes on a very large scale. In the Asia Pacific, the construction industry is driving the region's aluminum casting market.

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This report provides:

1) An overview of Global Aluminium Casting Market globally and related technologies.
2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).
3) Identification of new market opportunities and targeted promotion plans for Global Aluminium Casting Market.
4) Discussion of R&D and demand for new products and new applications
5) Comprehensive company profiles of key industry players.

The researchers have studied the market in depth and have come up with major segments like product type, application and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.

Regional segmentation and analysis to understand growth patterns:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

The Asia-Pacific market accounted for the largest share of the global aluminum casting industry and Europe and North America followed. Due to the rapid growth of applications such as cars, heavy machinery, building & manufacturing, and mass transportation, Asia-Pacific is projected to grow faster than any other regional market.

China and India, among others, invest in the infrastructure and manufacturing industries which are expected to drive the region's transport sector and, in turn, also drive the aluminum casting market.

Due to diversified demand from end-use industries and competitive scenarios North America and Western Europe are expected a significant growth for the aluminum casting market. Some of these regions major end-use industries include the automobile, building & design, manufacturing, and others.

In terms of new product developments and related activities these industries were competitive. So some of this market's emerging sub-segments promise high potential in this area.

The Middle East promises a strong market opportunity with competition from countries such as the UAE, Saudi Arabia, Qatar and others looking to diversify the economic outlook. Consisting of Russia and Turkey, Eastern Europe is also projected as one of the key markets with demand from housing, automobile, manufacturing, and others.

Key Factors Impacting Market Growth:
o Increasing demand from emerging economies in the Asia Pacific region.
o Opportunities in the market for stakeholders.

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Market Segmentation:

By Process:
o Die Casting
o Permanent Mold Casting
o Sand Casting

By End-User:
o Automotive Sector
o Building & Construction Sector
o Industrial Sector
o Others

By Region:
o North America
o By Country (US, Canada, Mexico)
o By Process
o By End-User

o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Process
o By End-User

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Process
o By End-User

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Process
o By End-User

o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Process
o By End-User

o Rest of the World
o By Region (South America, Africa)
o By Process
o By End-User

Reasons to Buy This Report:

o Market size estimation of the aluminum casting market on a regional and global basis
o Unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

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This release was published on openPR.