The global aluminum casting market size is expected to grow from $5.56 billion in 2021 to $59.89 billion in 2022 at a compound annual growth rate (CAGR) of 7.80%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The aluminum cast market is expected to reach $82.58 billion in 2026 at a CAGR of 8.36%.
What is the Global Aluminum Casting Market?
The aluminum casting market consists of sales of various types of aluminum by entities (organizations, sole proprietors, partnerships) that refer to the process of moulding liquid aluminum under high pressure into a die cavity to create simple to complicated items. Aluminium casting is an industrial procedure used for the manufacturing of aluminum products and sold part of a machine/products or as part of commercial industrial production. This process is used for manufacturing metal parts at specific details and quality.
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What drives the Global Aluminum Casting Market?
Growing demand in the automobile industry propels the market growth in the aluminum casting market. An automobile, often known as a motorcar or a car, is a four-wheeled vehicle that is designed primarily for passenger transportation and is powered by an internal-combustion engine that runs on volatile fuel. Currently, more than 50% of individual components in automotive vehicles such as transmission housings and pistons are made of aluminum casting. The global production of automobiles has increased year over year, creating new potential for market expansion around the world. For instance, according to the European Automobile Manufacturers' Association (ACEA), 77.9 million automobiles are manufactured worldwide in 2020. Therefore, the rising demand for aluminum products in the automobile industry drives the aluminum casting market.
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Global Aluminum Casting Market Segments
The global aluminum casting market is segmented:
By Process: Die Casting, Sand Casting, Permanent Mold Casting
By End-User: Transportation Sector, Building and Construction Sector, Industrial Sector, Others
By Geography: The regions covered in the aluminum casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Aluminum Casting Global Market Report 2022provides market size and growth forecasts for the global aluminum casting market, global aluminum casting market share, aluminum casting market segments and geographies, aluminum casting market competitive landscape including leading competitors’ revenues, profiles and market shares. The aluminum casting market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Aluminum Casting Industry Players include Alcoa Corporation, Aluminum Corporation of China Limited, Alcast Technologies, Bodine Aluminum, Inc, Consolidated Metco, Inc, Dynacast, Gibbs Die Casting Corporation, Martinrea Honsel Germany GmbH, Ryobi Ltd, Walbro, China Hongqiao Group Limited, Arconic Inc, and Eagle Aluminum Cast Products. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
