The global aluminum casting market has reached USD 64.1 Billion in 2019 and is estimated to reach USD 104.12 Billion in 2026 at a significant CAGR of 7.2% during the forecast period 2020-2026. Rising construction activities and increasing demand for light-duty vehicles are factors that drive the growth of the market during the forecast period from 2020-2026.
Cast aluminum is also referred to as tempered aluminum, which is not harmful. Aluminum is lightweight and possesses high thermal, outstanding strength and electrical conductivity, superior workability, moderate reflectivity, and desirable appearance, which ensures that aluminum is typically cast over iron and steel. The increasing use of aluminum is commonly used in various end-use applications and is a significant driver of the growth of the global aluminum casting industry worldwide. The demand for aluminum casting from the general transport segment is expected to increase with the expansion of the automotive sector. This rise is also driven by the growing demand for aircraft in developing economies such as China and India. Aluminum cast items in the industry are standard components of jet engines or aircraft engines.
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The Increasing Demand of lightweight materials
The rising demand for lightweight materials is helping in the growth of aluminum across the in aluminum casting market. Aluminum is about one third of the weight of steel, making it cheaper and easier to transport than other metals. Aluminum strength can be modified using various alloy elements to provide advantages that include higher strength or easier formability. Key functional properties such as lightweight nature, ease of manufacture, corrosion resistance, and aluminum sheets are used by the company for projects such as car paneling, building cladding, artwork, and kitchen fittings, among other applications.
Due to its recycling ability, the demand for aluminum casting is growing
Another driver on the aluminum casting market is its potential to recycle. As a result of recycled aluminum, demand for the global aluminum market is growing due to strict government regulations on waste-reduction recycling, especially in developed economies, which are contributing to the growth of the aluminum casting market in the 2026 forecast period across the globe.
Aluminum Casting Market: Competitive Landscape
The major market players in the aluminum casting marketss are Alcoa Corporation, Ryobi Limited, Rio Tinto, Aluminum Corporation of China Limited, United Company Rusal, China Hongqiao Group Limited, Arconic Inc., Gibbs Die Casting Corp, Dynacast Charlotte, Nemak S.A.B. de C.V., Kaiser Aluminum, Honsel Germany GmbH, Martinrea Honsel Germany GmbH, Endurance Technologies Limited, Consolidated Metco, Inc., Dynacast Charlotte, Bodine Aluminum Inc., Alcast Technologies Ltd., Walbro, and Other Prominent Players are expanding their presence in the market by implementing various innovations and technology.
In February 2020, STAS and Rio Tinto today announced an agreement to commercialize an advanced compact filtration technology (ACF) for aluminium cast houses. The ACF technology developed by Rio Tinto will now be manufactured and sold under license by equipment manufacturer STAS worldwide.
In November 2019, Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that, effective November 1, 2019, it will implement a new operating model that will result in a leaner, more integrated, operator-centric organization that accelerates the Company’s strategic priorities.
In July 2019, Alcoa Corporation, today announced the completion of a transaction with private equity investment firm PARTER Capital Group AG, based in Schindellegi, Switzerland, for that firm to acquire Alcoa’s Spanish subsidiaries that own and operate the Avilés and La Coruña aluminum plants in Spain.
The objective of the Study:
To analyze and forecast the global Aluminum casting market size of the market, in terms of value.
To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Aluminum casting market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America and their leading countries.
To outline, categorized and forecast the global Aluminum casting market based on the type, end-user, and region.
To examine competitive developments like technological advancement, services, and regulative framework within the global Aluminum casting Market.
To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
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Scope of the Report
|Years Considered||Historical data – 2016-2019|
|Base Year – 2019|
|Forecast – 2020 – 2026|
|Facts Covered||Revenue in USD Million/Billion|
|Market Coverage||U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia|
|Product/Service Segmentation||By Type, By End-User and Region
|Key Players||Alcoa Corporation, Ryobi Limited, Rio Tinto, Aluminum Corporation of China Limited, United Company Rusal, China Hongqiao Group Limited, Arconic Inc., Gibbs Die Casting Corp, Dynacast Charlotte, Nemak S.A.B. de C.V., Kaiser Aluminum, Honsel Germany GmbH, Martinrea Honsel Germany GmbH, Endurance Technologies Limited, Consolidated Metco, Inc., Dynacast Charlotte, Bodine Aluminum Inc., Alcast Technologies Ltd., Walbro, and Other Prominent Players|
- Die casting
- Permanent mold casting
- Sand casting
- Building & construction
- Others (Household appliances, engineering tools, and telecom)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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