North America Automotive Parts Magnesium Die Casting Market Astonishing Growth with Top Influencing Key Players like Brabant Alucast, Chicago White Metal Casting Inc., Shiloh Industries Inc., Continental Casting LLC, George Fischer Ltd

Latest research on North America Automotive Parts Magnesium Die Casting Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the North America Automotive Parts Magnesium Die Casting market. This report included a special section on the Impact of COVID19. Also, North America Automotive Parts Magnesium Die Casting Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the North America Automotive Parts Magnesium Die Casting industry.

North America Automotive Parts Magnesium Die Casting market is growing at a CAGR of 6% during the forecast period (2021-2026).

The North America Automotive Parts Magnesium Die Casting market is highly competitive and consists of a number of major players. Top Companies like Brabant Alucast, Chicago White Metal Casting Inc., Shiloh Industries Inc., Continental Casting LLC, George Fischer Ltd., Gibbs Die Casting Group, Pace Industries, Magic Precision Inc., Meridian Lightweight Technologies, MK Group Of Companies

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Scope of the Report

- Owing to the high demand of automobiles in the region, North America is one of the largest markets for automobiles in the world. the presence of leading automobile manufacturers as well as the component manufacturers is driving the growth in the region.

- However, because of the ongoing trade war between United States and France, the economy is expected to be heading towards a recession and the automobile sales are expected to witness a downfall for a couple of years until the end of trade tensions.

- With the increase in adoption of light weight ferrous materials to reduce the weight of automobile, majorly driven by the stringent policies imposed by CAF standards to cut emission and increase fuel efficiency of the vehicle is driving growth in the market.

- Rules imposed by OSHA and NADCA policies to improve the technical workforce are expected to improve production standards in the die casting industry.

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Key Market 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 a 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.

Environmental Regulations

The growing market for light weight vehicles to reduce CO_ emissions is identified as one of the primary drivers for growth in this market. Recent regulations, such as, the decision of Environmental Protection Agency (EPA) to raise mile per gallon standards to 35.5 miles per gallon by 2016, and then 54.5 mpg by 2025 have induced automotive manufacturers to shift their focus to the use of light-weight metals for producing automobile parts.

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.

What are the market factors that are explained in the report?

–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: North America 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, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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