09 January 2020
Visiongain’s new report Aluminum Die Casting Market Report 2020-2030: Forecasts by Process (High Pressure Die Casting, Low Pressure Die Casting), End Use (Building & Construction, Consumer Durables, Energy, Industrial, Telecommunication, Transportation, Others), by region and analysis of leading companies operating in this industry.
The global aluminum die casting market is anticipated to surpass USD 70 billion by 2030 while growing at a lucrative CAGR of 10.3% during the forecast period from 2020 to 2030.
The growth of the global aluminum die casting market is owed to the growing automotive market, growth of the construction industry & usage of aluminum casts in the electrical & electronics industry, and growing penetration of die casting parts in industrial machinery among others. However, crunch in the supply of raw materials, volatile raw material prices, and forging industries' environmental emission regulations is anticipated to restrain the market growth.
In the forecast period, leading business players have introduced innovations that are expected to change the industry. Computer-aided process planning (CAPP) systems are now becoming an industry standard for consistent design and processes. CAPP systems assist in linking development and design. In many leading foundries, Computer-Aided Three-Dimensional Analysis (CATIA) is used.
Die-casting requires advanced gating engineering, and difficulty levels differ with the stress of the molten material being inserted. Casting costs vary depending on product quality specifications and adjustments, net-shape capability and complexity, tooling, and processing costs. Additionally, die-cast tooling is often considered to be the most cost-effective and die-cast technology that requires a substantial amount of capital required to develop appropriate gating systems.
Furthermore, the initial costs for making & manufacturing an appropriate non-ferrous die-cast part demanded by end-users are also substantially huge. Perhaps due to the introduction of several capital-intensive advanced tools and machinery in the production process, the gestation period for the expenditure incurred is longer.
While dies have a relatively long wear life and can be used efficiently in large production facilities, it is more costly than traditional vehicle part production due to the high start-up costs. High-precision equipment and casting engineering expansion are constantly being used to enhance the component's reliability and performance. Therefore, the costs involved in producing and manufacturing suitable die-cast components needed for automotive, industrial and electronic applications are significantly high.
In the year 2018, the Asia Pacific region dominated the global aluminum die casting market. Increasing demand for cars in countries like China and India is projected to drive growth over the forecast period. Advantages such as low labor costs in China and India encourage manufacturers to set up regional manufacturing facilities. Thailand is also emerging as a major exporting country for cars, powered by Japanese FDI. All of these factors together are driving the Asia-Pacific regional growth. North American aluminum die casting is anticipated to show strong growth owing to growing production from the construction and automotive sector.
Some of the key aluminum die casting market players include Alcast Technologies, Alcoa Corporation, Aluminum Corporation of China Limited, Arconic, Bodine Aluminum, Inc., Consolidated Metco, Inc., Dynacast, Endurance Technologies Limited, Gibbs Die Casting Corporation, Leggett & Platt, Martinrea Honsel Germany GmbH, Ryobi Ltd., Walbro among other prominent players.
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he growth of the global aluminum die casting market is owed to the growing automotive market, growth of the construction industry & usage of aluminum casts in the electrical & electronics industry, and growing penetration of die casting parts in industrial machinery among others
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