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Aluminum Casting Market Competitive Dynamics and Global Industry Outlook 2017 - 2025

Aluminum Casting Market

Aluminum Casting Market

Being a light weight metal, aluminum offers excellent strength, high electrical conductivity, exceptional corrosion resistance and excellent workability. Its workability property is a marked advantage as it allows the formation of complex designs using various metal forming techniques. Among all the available metal forming techniques casting is considered the simplest, mature and versatile way of forming aluminum into wide variety of products. Large numbers of a given casting can be produced quickly due to its mass production. For example; cast engine blocks and transmission cases are produced on large scale in the automotive industry. Furthermore aluminum or any other light weight metal can be preferably produced only as castings.

The aluminum casting market is witnessing considerable growth due to the advancements in technological capabilities and high efficiency of aluminum cast products. Demand for aluminum casting is high from OEM as aluminum is preferred over iron and steel products in the transportation. High investments in R&D and technology upgrade techniques undertaken by major OEMs, auto manufacturers and related suppliers are key factors driving the demand for cast aluminum products. Stringent emissions regulations enacted by government are driving the demand for aluminum, as vehicle weight is a key to meet these regulations. However, factors such as requirement of high capital investments, significant plant construction or expansion and high cost of labor are hampering the market.

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Based on raw material, the market can be segmented into pure aluminum and alloy aluminum. An alloy offers different physical properties than the elements it is made up of. Aluminum in its pure form is not considered useful as it has low tensile strength. However, when mixed with other elements, the alloys of aluminum exhibit remarkable improvement in mechanical properties. Pure aluminum is employed in the electronic industry in the production of semi-conductor modules.

Considering the various processes used for casting aluminum products the aluminum casting market can be classified into die casting, permanent mold casting, sand casting and others including centrifugal castings and lost wax castings. In terms of application the market can be segmented into transportation, industrial, electrical & electronics, construction and others.

Increase in industrial automation in the aluminum die-casting industry has boosted productivity due to highly durable cast parts that require minimum machining and finishing. The die-castings segment has been expanding in transportation and industrial sectors. It is anticipated to increase significantly in in the near future as aluminum die casted products lower the overall weight of the vehicle thereby reducing fuel consumption and improving the performance of the vehicle. Aluminum die-casted power train and engine areas is the one important way in which OEM’s could achieve this. This is one of the major reasons for the predicted growth in transportation sector and die -castings as well Aluminum permanent mold casting is used more widely than sand casting as dispensable mold is employed in the latter. The word permanent does not mean that the molds last forever. In fact, the service life of the mold depends largely on the pouring temperature, the material of the mold and complexity of the component being cast. These factors are driving the usage of die casting for producing aluminum cast products.

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In terms of geography, Asia-Pacific is anticipated to lead the global aluminum casting market. Rise in population in Asia-Pacific is anticipated to increase the demand for vehicles for transportation thereby boosting the demand for aluminum casted products. North America and Europe are anticipated to be the major regions of the aluminum casting market due to the advanced manufacturing capabilities. Latin America and Middle East & Africa is the emerging hubs of the aluminum casting market.

Key players operating in the aluminum casting market include Alcast Technologies, Alcoa, Aluminum Corporation of China Limited (Chalco), Gibbs Die Casting, Bodine Aluminum, Fairfield Aluminum Casting Company (FALCO) and China Hongqiao Group Limited.

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