Aluminum Casting Market 2021 | Detailed Report

Aluminum Casting Market Forecasts report provided to identify significant trends, drivers, influence factors in global and regions, agreements, new product launches and acquisitions, Analysis, market drivers, opportunities and challenges, risks in the market, cost and forecasts to 2026.

The aluminum casting market size is projected to grow from USD 70.4 billion in 2021 to USD 100.5 billion by 2026, at a CAGR of 7.4%.

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#Key Players- Alcoa Corporation (US), Ryobi Limited (Japan), Aluminum Corporation of China Limited (China), Rio Tinto (UK), United Company RUSAL (Russia).

“Die casting is the largest process segment of the aluminum casting market”
The aluminum casting market is segmented on the basis of process into die casting, sand casting and permanent mold casting. The die casting process segment accounted for a larger market share. Die casting is also projected to be the fastest-growing process segment. The growth in the die casting segment is attributed to the growing automobile industry, globally, as this technique is largely used in the manufacturing of automobile components such as engine blocks, wheel spacers, and transmission housing.

“Transportation sector is the largest end-use segment of the aluminum casting market”
The aluminum casting market is segmented on the basis of application into transportation sector, building & construction sector, industrial sector, and others. The transportation sector segment led the market in terms of both value and volume. This growth is attributed to growing popularity of lightweight vehicles and better fuel efficiency in automobiles.

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“APAC is the largest market for aluminum casting market”
The APAC region is projected to be the largest market, in terms of value. APAC is also expected to grow at the highest CAGR during the forecast period. Growth in APAC is backed by the efficient demand and supply cycle of the automobile sector majorly in countries like China, India and Japan. A periodic and significant increase in infrastructure development is driving the market in the area.

Research Coverage:
The aluminum casting market has been segmented based on process, end-use sector, and region. This report covers the aluminum casting market and forecasts its market size until 2026. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the aluminum casting market.

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This release was published on openPR.