Die Casting Market Size is Expected to Reach US$ 87.1 Billion by 2028 , at a Growth Rate of 5.9% | Industry Report

The latest research study "Die Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global die casting market size reached US$ 62.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 87.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Die casting represents a process of pouring molten metal into molds under high pressure to produce accurate metal parts. It is usually manufactured by using metals, such as magnesium, aluminum, lead, zinc, copper, tin-based alloys, etc. In line with this, die casting reduces production costs, eliminates assembly operations, provides greater consistency, etc., as compared to other production processes. It also minimizes metal chunk, augments the production rate, offers higher accuracy and single mold design, etc. Consequently, die casting finds wide-ranging applications in various industries, such as aerospace, defense, consumer electronics, transportation, construction, etc. Furthermore, it is extensively used to produce decorative hardware, industrial components, connector housings, toys, golf clubs, engine fans, valves, etc.

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Die Casting Market Trends and Drivers:

The widespread adoption of this process to manufacture components for transmission, engine, chassis, brakes, power steering, vehicle interior, etc., is primarily driving the die casting market. Additionally, the expanding automotive industry across countries is further catalyzing the market growth. Besides this, the growing utilization of die casting to produce light, heat-resistant, flexible, and highly durable precision parts for smartphones, laptops, home appliances, drones, etc., is acting as another significant growth-inducing factor. Moreover, the development of improved casting technology and the escalating demand for die casting for manufacturing complex medical devices, such as pacemakers, dialysis equipment, ultrasound systems, medical robots, monitoring devices, hospital bed gearboxes, etc., are positively influencing the global market. Apart from this, the introduction of automation to offer higher speed, reduce waste, improve consistency, and minimize worker contact with molten metal is anticipated to fuel the die casting market over the forecasted period.

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Die Casting Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Top Key players :

• Dynacast International Inc. (Form Technologies Inc.)
• Endurance Technologies Limited
• Georg Fischer Ltd.
• Gibbs Die Casting Corp. (Koch Enterprises Inc.)
• Nemak S.A.B. de C.V.
• Pace Industries (Leggett & Platt)
• Rheinmetall AG
• Rockman Industries
• Ryobi Die Casting (USA) Inc. (Ryobi Limited)
• Sandhar Technologies Limited
• Shiloh Industries Inc. and Sundaram - Clayton Limited.

The report has segmented the market on the basis of process, raw material and application.

Breakup by Process:

• Pressure Die Casting
• Vacuum Die Casting
• Squeeze Die Casting
• Others

Breakup by Raw Material:

• Aluminum
• Magnesium
• Zinc

Breakup by Application:

• Automobile
o Body Parts
o Engine Parts
o Transmission Parts
o Others
• Heavy Equipment
o Construction
o Farming
o Mining
• Machine Tools
• Plant Machinery
o Chemical Plants
o Petroleum Plants
o Thermal Plants
o Paper
o Textile
o Others
• Municipal Castings
o Valves and Fittings
o Pipes
• Others

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Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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