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(IT-NEWSWIRE.COM, April 28, 2022 ) The report "Aluminum Casting Market by Process (Die Casting, Permanent Mold Casting, Sand Casting), End-use Sector (Transportation, Industrial, Building & Construction), and Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2026" The global aluminum casting market size is estimated at USD 70.4 billion in 2021 and is projected to reach USD 100.5 billion by 2026, at a CAGR of 7.4%. The aluminum casting market is witnessing high growth owing to the growing demands from the transportation, building & construction, industrial sector and the increasing disposable income in developing countries. The increasing inclination towards consumer goods and other end-uses is also driving the market.
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Die Casting is the largest process segment of the aluminum casting market
The aluminum casting market is segmented into die casting, sand casting and permanent mold casting with respect to process. The die casting process segment accounted for the largest market share among the other process. Die casting happens to be superior with respect to flexibility of design, a wide range of alloys and properties available, lowest tooling cost, shortest lead time, long tool life, high production rates for large range of parts, ease of product modification, least sensitive gating, feeding and heat removal system in mass production. Die casting is the best fit when a large number of simple or complicated castings are required. This casting method produces aluminum castings with finer surfaces and better dimensional accuracy. As a result, less tinkering and finishing is imparted.
Transportation sector is the largest end-use segment of the aluminum casting market
The aluminum casting market is segmented into the transportation sector, industrial sector, building & construction sector and others with respect to the end-use sectors it caters to. The transportation sector segment led the aluminum casting market with respect to both value and volume. Aluminum casting can be used into small and big applications in the automotive industry. Aluminum casting imparts lightweight features to automobiles which further helps in better fuel efficiency of vehicles. The high fuel efficiency imparted by aluminum casting to the aluminum parts makes it widely used in trains, boats, cars, and aircraft.
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Browse in-depth TOC on "Aluminum Casting Market”
285 - Market Data Tables
51 - Figures
241 - Pages
APAC is the largest market for aluminum casting market
The APAC region is projected to be the largest market, in terms of value. APAC has also recorded the highest CAGR in 2020 and is expected to grow at the highest CAGR during the forecast period as well. Efficient demand and supply cycle of the automobile sector majorly in countries like China, India and Japan is one of the main factors influencing the aluminum casting market positively in the APAC region. A periodic and significant increase in infrastructure development is driving the market in the area. APAC is also a manufacturing hub and accounts to have a larger market size. Increasing consumer goods demand, innovation in aerospace, etc are also expected to support the growth of this regional market during the forecast period.
The key companies profiled in this report on the aluminum casting market include Alcoa Corporation (US), Ryobi Limited (Japan), Aluminum Corporation of China Limited (China), Rio Tinto (UK), United Company RUSAL (Russia) are key players in aluminum casting market.
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