Aluminum Die Casting Market Size to Hit US$ 144.74 Bn by 2030 – GlobeNewswire

| Source: Precedence Research Precedence Research
Tokyo, Jan. 17, 2022 (GLOBE NEWSWIRE) — The global aluminum die casting market size was worth at USD 77.24 billion in 2021. The rising aluminum consumption in different applications such as telecommunication and transportation industries is expected to drive the aluminum die casting market expansion during the forecast period. One major driving force is the growing need for light weight castings.

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The manufacturers in the transportation sector must adhere to laws in order to improve fuel efficiency and reduce hazardous emissions, which can be accomplished by using light weight materials in automobile production. The expanding use of aluminum in the building and construction, transportation, and industrial sectors is primarily responsible for the growth of the global aluminum die casting market. The above aforementioned factors are driving the demand for aluminum casting during the forecast period.
Report Scope of the Aluminum Die Casting Market
Regional Snapshot
Asia-Pacific region accounted largest revenue share over 45% in 2020. The aluminum die casting market is heavily influenced by countries such as India, China, and Japan. The Asia-Pacific region’s market is being driven by a rise in the building and construction industry. In the building and construction industry, aluminum casting is used to create variety of fittings and fixtures.
North America is the fastest growing region in the aluminum die casting market. The U.S. benefits the North America since it is the world’s manufacturing hub and has a significant market share. The increased consumer demand, aviation innovation, and other factors are projected to propel the North America market growth throughout the forecast period.
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Report Highlights
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Replacement of iron and steel with aluminum
Replacing iron and steel automobile parts with aluminum cast items has been considered one of the most viable substitutes. Aluminum’s recycling capabilities provide considerable economic benefits to clients in terms of total return on investment, improved automobile lifespan, and environmental benefits in terms of reduced fuel usage. The aluminum’s replacement of traditional cast iron and steel in the automotive sector is a crucial element in the adoption of light weight components. As a result, the increased use of aluminum instead of iron and steel is driving the growth of the aluminum die casting market during the forecast period.
Environmental deterioration
The conversion of raw aluminum to cast aluminum is a high energy process that necessitates a lot of water and electricity. Obtaining the final product from pure aluminum ore necessitates a tremendous amount of electricity. The Sulphur dioxide, carbon dioxide, and other harmful gases are used in the burning and processing of aluminum. As a result, these toxic gases are harmful for the environment. Thus, the environmental deterioration is restricting the growth of the global aluminum die casting market.
Surge in demand in the automobile industry
The aluminum casting has become more popular in industries as the demand for energy efficient and light weight automobiles has increased, leading to the substitution of iron and steel metals by aluminum cast products. The aluminum’s excellent corrosion resistance, attractive look, durability, and light weight have influenced the automobile market to be design oriented. As a result, the surge in demand of aluminum in the automobile industry is creating lucrative opportunities for the growth of the aluminum die casting market during the forecast period.
Alternatives for aluminum
Magnesium is one of the most common metals in the earth’s crust, and it is gradually replacing aluminum in the diverse industries as corrosion resistance of magnesium alloys improves and new alloys are developed. As it is lower weight, it is replacing aluminum in the automobile and automotive industries. The magnesium helps reduce weight in various vehicles, which improves fuel efficiency and reduces greenhouse gas emissions. Thus, the alternatives for aluminum are a major challenge for the growth of the global aluminum die casting market.
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Segments Covered in the Report
By Production Process
By Application
By Geography
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