Aluminum Die Casting Market is Anticipated to Upgrade USD 35.64 Billion Revenue By 2028: Grand View Research Inc.

 Aluminum Die Casting Market Growth & Trends

The global aluminum die casting market size is expected to reach USD 35.64 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.1% from 2021 to 2028. The growth of the telecommunication sector, coupled with the increasing demand for lightweight materials from the automotive and aerospace industries, is expected to propel the market growth in the coming years.

Die casting is a process performed by forcing molten aluminum into a steel die (mold) under pressure. Based on production process, the market is segregated into pressure die casting and other processes. Pressure die casting is further segmented into high and low, where the former constitutes a larger share owing to its higher production rates. On average, European vehicles consist of 80-100 kilograms of high pressure die casting (HPDC) components. Other types of die casting include vacuum and squeeze, which find use in applications, such as solar sensors and turbine blades.

Aluminum die casting components are extensively used in numerous industries, including transportation, industrial, building and construction, telecommunication, consumer durables, and energy. The transportation industry is anticipated to maintain its lead over the forecast period as it is the key consumer of aluminum die casting. Aluminum die-cast parts are used in general road and sports road transportation, heavy vehicles, and aerospace sectors.

Asia Pacific is anticipated to register the fastest growth rate over the forecast period. Progress in manufacturing activities in developing economies of the region is propelling product demand. For instance, in September 2020, Hyundai Motor began production at its second plant in Vietnam, which is expected to increase the production capacity by 140%.

Rising product demand has led to increased competitive rivalry in the market. Major market players are set to gain a competitive edge and recover their losses from the previous year owing to the pandemic, through means of strategic initiatives such as mergers & acquisitions and increasing production capacities.

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Aluminum Die Casting Market Report Highlights

• Based on application, telecommunication is expected to register the highest CAGR of 6.8% in terms of revenue over the forecast period owing to increasing technological advancements and rising investments in the sector
• In the pressure die casting production process segment, HPDC held the largest revenue share in 2020 and is anticipated to maintain its lead over the forecast period. This can be attributed to the high preference for HPDC among casting manufacturers owing to the high efficiency of the process
• Asia Pacific held the largest revenue share of over 45.0% in 2020 on account of the increasing investments in developing economies pertaining to capacity expansions, especially in the transportation industry
• In North America, the U.S. accounted for a revenue share of over 64.0% in 2020. Rising construction spending, coupled with EV production in the country, is expected to prove fruitful for the market growth during the coming years

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Aluminum Die Casting Market Segmentation

Grand View Research has segmented the global aluminum die casting market on the basis of production process, application, and region:

Aluminum Die Casting Production Process Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Pressure Die Casting
  • High Pressure Die Casting
  • Low Pressure Die Casting
• Others

Aluminum Die Casting Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Transportation
  • General Road Transportation
  • Sports Road Transportation
  • Heavy Vehicles
  • Aerospace & Aviation
• Industrial
  • Agricultural Equipment
  • Construction Equipment
  • Others
• Building & Construction
• Telecommunication
• Consumer Durables
• Energy
• Others

Aluminum Die Casting Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Aluminum Die Casting Market

• Alcast Technologies
• BUVO Castings
• Chongqing CHAL Precision Aluminium Co., Ltd.
• Consolidated Metco, Inc.
• Endurance Technologies Limited
• FAIST Group
• GF Casting Solutions
• GIBBS
• Martinrea Honsel Germany GmbH
• Madison-Kipp Corporation
• Ryobi Limited

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.