Automotive Parts Magnesium Die Casting Market 2021 Status and Outlook-cago White Metal Casting, Inc., Continental Casting LLC, Georg Fischer AG, Gibbs Die Casting Group
The automotive parts magnesium die casting market is expected to register a CAGR of over 8% during the forecast period, 2020 - 2025.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Automotive Parts Magnesium Die Casting Market: Chicago White Metal Casting, Inc., Continental Casting LLC, Georg Fischer AG, Gibbs Die Casting Group, Magic Precision Inc., Meridian Lightweight Technologies, MORIMURA BROS.,INC, Tadir-Gan Group (ORTAL LTD.), Pace Industries, Shiloh Industries, Inc., Sundaram-Clayton Limited, Twin City Die Castings and others.
The application of magnesium in the automotive industry started in the early 19th century. It is employed in vehicles, for weight reduction, with 10% more effective results as compared to aluminum.
- Some of the major factors driving the growth of the market are the increasing installation of magnesium die cast components in passenger and luxury car segments, a rising establishment of new magnesium molding machinery, increasing automation in the die casting industry (resulting in rise in productivity), and high demand from the automotive industry, drawing attention of the automotive manufacturers toward highly durable die casting parts.
Regional Analysis For Automotive Parts Magnesium Die Casting Market:
North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Market Key Trends:
Increased Application in Body Assemblies
Key body structure applications, such as floor rails, shock towers, and pillars, are now being manufactured, using high-pressure non-ferrous castings. The use of magnesium in automotive body parts is limited, but it has recently been observed to be expanding.
GM has been employing a single-piece die cast roof frame, since the introduction of C-5 Corvette in 1997. Cadillac XLR roadster's retractable hardtop convertible roof and top frame employ magnesium alloys. SUVs and Ford F-150 trucks are coated with magnesium castings, for the vehicles' radiator support, and Dodge Viper is coated with one-piece magnesium front-of-dash die casting. In Europe, for body panel applications, the German auto giants, Volkswagen and Mercedes, have employed thin-wall magnesium die castings. Thin-wall casing application constitutes the major part of magnesium usage, in the automotive industry. Thin-wall die castings, such as closure inners, can often offset the material cost penalty of magnesium, over steel sheet metal construction, due to part consolidation.
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-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Automotive Parts Magnesium Die Casting Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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