Metal Casting Market - Global Forecast to 2025

The rising demand for fuel efficiency and stringent vehicle emission regulations have led to vehicle light-weighting, which, in turn, has impacted the growth of the metal casting market.

The Metal Casting Market is estimated to grow at a CAGR of 8.87% during the forecast period, to reach a market size of $39.94 Billion by 2025.

High pressure dies casting is the most preferred process for manufacturing casting components in large volumes. Owing to the large volumes, the chances of component rejections are also higher. Advancements in technology have helped to address the rejection issue by using simulation software that helps to predict and rectify the falsification within the casting process. Magna International is already using simulation software to improve the production process. Further, in order to commensurate the increased production of casting components, the rise in the level of automation shall lead to a faster and more efficient high pressure die casting process. In October 2017, Aisin Seiki (Japan) increased the automation level in its Nishio plant (Japan) by deploying automatic conveyance systems and underlying technologies with the die casting machines for shortening the casting cycle time. Thus, the use of advanced simulation software and process automation can help metal casting companies to enhance their business revenue in the coming years.

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Some of the key metal casting component manufacturers and suppliers include Nemak (Mexico), Ryobi Limited (Japan), Rheinmetall Automotive (Germany), GF Automotive (Switzerland), Ahresty Corporation (Japan), Dynacast (US), Endurance (India), Mino Industrial (Japan), Aisin Automotive Casting (US) (a subsidiary of Aisin Seiki (Japan)), and Gibbs Die Casting (US).

With the increased focus on the reduction of tailpipe emissions across regions, automotive OEMs are focusing on the production of electric and hybrid vehicles. The demand for electric and hybrid vehicles is projected to increase considerably in the coming years. According to the International Energy Agency (IEA), the global sales of BEV and PHEV increased to 753.2 thousand units in 2016 from 47.6 thousand units in 2011, at a CAGR of 73.74% in the last five years. As the design of these vehicles is lighter than IC vehicles, the demand for aluminium and magnesium casting is anticipated to grow, which would again have a positive impact on the metal casting market. For instance, in November 2017, Ahresty Corporation has received orders for PHEV engine blocks for a Chinese automaker.

Alloy wheels, which belong to body assembly application, is projected to grow at the fastest rate in the review period. These can be manufactured from aluminium and magnesium. In recent years, the demand for alloy wheels has increased significantly due to their better finishing and aesthetics. Aluminium alloy wheels are lighter than stamped steel and offer fast acceleration and enhanced steering control. According to MarketsandMarkets analysis, alloy wheels offer a weight reduction of up to 40% as compared to steel wheels. Automakers have started offering alloy wheels in lower and medium-range cars as well. Maxion Wheels, Enkei Wheels, Ronal Wheels, and Uniwheels are some of the key suppliers of alloy wheels. The demand for alloy wheels is high in North America & Europe. Also, the increasing demand for alloy wheels in the Asia Oceania market provides an immense opportunity for alloy wheel manufacturers.

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Asia Oceania is anticipated to be the fastest-growing market owing to increased production and sales of passenger cars and electric vehicles. China is the largest manufacturing hub in the region due to the presence of many local and international OEMs. Further, according to OICA, the passenger car production of Japan and India together had grown from 10.1 million units in 2011 to 11.5 million units in 2016 at a CAGR of 15.84%. Additionally, the growing demand for electric and hybrid vehicles in China and Japan, along with other factors such as increasing GDP, rising per capita income, and low production costs are expected to fuel the metal casting market in this region.

Target Audience:

1. Automotive casting components manufacturers
2. Automotive casting component suppliers, traders, and distributors
3. Automotive casting materials manufacturers and suppliers
4. Automotive OEMs
5. Automotive component manufacturing associations
6. Government and regulatory authorities
7. Research and consulting associations

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