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Aluminum Casting Market Size, Share, Segments, Data, Growth, And Forecast 2024 - 2031 | Arconic Inc., China Hongqiao Group Limited

06-18-2024 08:43 AM CET | Chemicals & Materials

Press release from: CMI

Aluminum Casting Market

Aluminum Casting Market

Market Overview:

Aluminum casting refers to the process of casting aluminum and aluminum alloys in reusable molds. It is used to produce complex products and components across various industries including transportation, industrial equipment, building & construction and others. Some common aluminum casting products include engine parts, bicycle parts, sculptures, machine components and others.

Market Dynamics:

Rising automotive production along with growing focus on lightweight vehicles globally is a major factor driving the growth of the aluminum casting market. Aluminum castings are increasingly preferred over steel and iron castings in automobile manufacturing due to their corrosion resistance and lightweight properties which enhance fuel efficiency. Moreover, aluminum castings are also gaining importance in industrial equipment and machinery manufacturing due to their strength, recyclability and cost advantages over other materials. The market is also witnessing high demand from the building and construction sector where cast aluminum is used to produce windows, doors, fittings and other architectural applications due to its versatile physical and aesthetic properties.

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Aluminum Casting Market Drivers

Growing demand from transportation sector will drive Aluminum Casting market growth

The transportation sector including automotive, aerospace, railways and marine industries is a major end user of aluminum casting components. Aluminum casting finds extensive application in automotive underbody components, engine blocks, cylinder heads, valve bodies and transmission housing among others due to its light weight and corrosion resistance properties. The global automotive production has been growing steadily over the past few years and this trend is expected to continue in the coming years. The increased vehicle production will boost the demand for aluminum casting from automotive OEMs.

Increasing preference for lightweight materials in industrial machinery will augment market expansion

The industrial machinery sector has been adopting lightweight materials for manufacturing components in order to improve fuel efficiency and performance. Aluminum castings offer significant weight savings compared to cast iron and steel components. They help reduce the overall weight of industrial equipment like construction, agriculture, mining and material handling machinery. Growing manufacturing sector and replacement demand from existing fleet is slated to drive the need for aluminum castings in industrial machinery.

Aluminum Casting Market Trends

Innovation of near net shape casting techniques will be a key trend

Developing near net shape casting processes enables manufacturers to minimize machining and realize cost savings. Advanced techniques like low pressure die casting and thixomolding helps produce castings with complex geometry and high dimensional accuracy, reducing post casting operations. Investments in R&D are underway to optimize casting designs using simulations and develop new aluminum alloys suitable for near net shape casting. Continuous innovation in casting processes will enhance productivity and drive market trends in the aluminum casting industry.

Top Companies Featured in This Report:

★ Arconic Inc.
★ China Hongqiao Group Limited
★ Gibbs Die Casting Corp
★ Rio Tinto
★ Dynacast Charlotte
★ Nemak S.A.B. de C.V. among others.

Market Segmentation:

By Product Type:

★ Die Casting
★ Gravity Die Casting
★ High Pressure
★ Low Pressure
★ Permanent Mold Casting
★ Sand Casting
★ Squeeze Casting
★ Transportation & Automotive
★ Cars & LCV
★ Other Transport
★ Aerospace
★ Building & Construction
★ Industrial
★ Others

Key Regions/Countries are Classified as Follows:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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Reasons to Obtain Our Comprehensive Market Report:

• Conduct an extensive analysis of various aspects of the Aluminum Casting Market utilizing Porter's Five Forces framework.

• Gain insights into the growth rate and market shares of different product types and applications/end-users within the Aluminum Casting Market.

• Explore the Aluminum Casting Market dynamics across different regions through comprehensive regional analysis.

• Assess the impact of Covid-19 on the Aluminum Casting Market with a meticulous research approach.

• Stay updated on the latest developments, market shares, and strategies of key market players within the Aluminum Casting Market.

• Delve into a thorough evaluation of the market strategies, geographical presence, and business segments of the top players in the Aluminum Casting Market.

• Anticipate key challenges, product advancements, and solutions that may influence the market's progression and threats.

Key Questions Answered:

• What was the size of the Aluminum Casting Market in 2021, and what will it be worth by 2030?
• What is the current global scenario for the Aluminum Casting Market?
• What are the optimal business strategies for maximizing growth potential?
• What are the recent trends in the Aluminum Casting Market?
• What is the market share in terms of revenue, sales, and size in specific geographical regions?
• Who are the key industry players in the Aluminum Casting Market?
• Which segments of the Aluminum Casting Market are in high demand?

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Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
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India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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