According to the new market research 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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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.
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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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%, between 2021 and 2026. Aluminum casting is a type of metalworking process that involves pouring liquid metal into a mold or form. Aluminum casting is a variation of this that uses only aluminum and aluminum alloys as the liquid metal that is poured into the mold. Aluminum castings are used to make complex and detailed parts very efficiently. Traditionally, aluminum casting was achieved using a process called green sand casting. This involved the use of wet sand in the creation of casting molds. As a method, it was efficient and cost-effective, but not without its drawbacks. The die casting method of aluminum casting is ideal when large numbers of simple or complex castings are required. This casting process results in an aluminum casting with smoother surfaces and good dimensional accuracy. This means that less fettling and finishing is required.
The key players in the aluminum casting market are Alcoa Corporation (US), Ryobi Limited (Japan), Aluminum Corporation of China Limited (China), Rio Tinto (UK), United Company RUSAL (Russia), and others. The aluminum casting market report analyzes the key growth strategies adopted by the leading market players, between 2017 and 2021, which include expansions, mergers & acquisition, new product developments/launch, and collaborations.
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Alcoa Corporation is a leading manufacturer and supplier of bauxite, alumina, and aluminum products. The company functions through three business segments, namely, Engineered Products and Solutions (EPS), Global Rolled Products (GRP), and primary metals. The company serves markets such as aerospace, automotive, building & construction, commercial transportation, consumer electronics, defense, industrial products & services, medical, oil & gas, and packaging. It is also engaged in mining of bauxite and refining of alumina. It also produces value-added products made of titanium, nickel, and aluminum. The company manufactures and supplies a wide variety of aluminum casting products worldwide, such as aluminum billets, foundry ingots, rolling slabs, rods, and powder.
Ryobi Limited is a company engaged in the manufacturing and sale of die casting products, power tools, architectural products, and printing equipment. The Printing Equipment offers multi-functional offset printing presses that produce catalogs, posters, magazines, packaging and other high-quality graphic printed material speedily and to high precision levels. The Housing Equipment segment provides hardware to make homes and offices safe and comfortable, including door closers that shut doors quietly and securely every time, and air-conditioning controllers that ensure comfortable room temperatures are maintained in hotels and other facilities. The die casting segment manufactures and sells die-casting products and aluminum molds for the automobile industry. Owing to the technological expertise and experience accumulated over many years, Ryobi uses its collective strength and corporate agility to supply high-quality die casting products mainly to the automobile industry. It offers over 2,500 types of die-cast products, including cylinder blocks, transmission cases and subframes, used in over 300 types of vehicles.
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Contact Information:
Mr. Aashish Mehra MarketsandMarkets
INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441 Email: [email protected] Research Insights: https://www.marketsandmarkets.com/ResearchInsight/aluminum-casting-market.aspTags:
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Contact Information:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: [email protected]
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/aluminum-casting-market.asp
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