Global Aluminium Castings Market Professional Survey Report 2018
Aluminium is a very important material in the automotive industry especially regarding light metal construction. Aluminium castings are also increasingly used in new applications for example in the aerospace industry. That is why the aluminum casting market size is estimated to grow from USD 55.56 Billion in 2017 to USD 79.13 Billion by 2022, at a CAGR of 7.8% over the forecast.
It is projected to witness significant growth in the next few years with the increasing demand for lightweight vehicles and new constructions all over the world due to rapid urbanization and industrialization. Large-scale investments in industrial and manufacturing units’ coupled with the rising demand for lightweight, fuel-efficient vehicles in emerging economies are some of the factors driving the growth of the aluminum casting market.
The die casting accounted for 49.7% of the global market share in 2016. The demand for aluminum die casting is growing due to its end use application in automotive sector. It is mainly used in the transportation sector to improve the fuel efficiency of vehicles.
Permanent mold casting was estimated at USD 19.82 billion in 2016. The rise in industrial sector and increasing new applications of aluminum casting is anticipated to propel the market over the forecast period.
Transportation sector is the largest end use segment for this industry. The increasing emission laws by the government regulatory authorities, coupled with consumer demand for higher fuel-efficient vehicle is propelling the demand for aluminum casting in transportation sector.
Additionally, use of aluminum casting products in aerospace application is also growing at a rapid pace due to increase in demand and production of airplanes around the world. Likewise increase in use on aluminum casted products in other transportation medium such as waterways and trains is expected to further propel the market.
Asia-Pacific constitutes the largest market share in the aluminum casting market wherein China is the largest country-level market. Germany and France cumulatively accounted for over 45.9% of the Europe market revenue in 2016 on account of strict European emission laws and harsh penalty payments in case of excess emissions.
The major players in the aluminum casting market include Arconic Inc., Dynacast International, Endurance Technologies Ltd., Nemak, Ryobi Ltd., Alcoa Corporation, Eagle Aluminum Cast Products+, Alcast Technologies, Consolidated Metco.
The Global Aluminium Castings Market Professional Survey Report 2018 gives detailed information about aluminium and its markets. Order a Purchase Report Copy at https://www.marketresearchnest.com.
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