𝐃𝐞𝐦𝐚𝐧𝐝 & 𝐒𝐮𝐩𝐩𝐥𝐲 / 𝐃𝐞𝐦𝐚𝐧𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The demand for Aluminum Die Casting Market Size is primarily driven by the transportation sector, which accounted for over 63% of the market revenue in 2023. The shift towards lightweight vehicles to enhance fuel efficiency has led to increased adoption of aluminum components. Additionally, the industrial sector, encompassing agricultural, construction, and mining equipment, has shown significant demand for aluminum die-cast products due to infrastructural developments, especially in Asian countries.
On the supply side, the market faced challenges during the COVID-19 pandemic, with disruptions in manufacturing and transportation leading to reduced production. For instance, primary aluminum prices experienced volatility, peaking at $1,810 per ton in January 2021 and dropping to $1,421.5 per ton by April 2021. However, with the stabilization of global economies and resumption of industrial activities, the supply chain is expected to recover, meeting the growing demand across various sectors.
Estimated Growth Rate for Aluminum Die Casting Market
Aluminum Die Casting Market was at 27.50 Billion in 2023. The Building & Construction is one of the segments reviewed in the MMR report dominating the global Aluminum Die Casting market.
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Regional Analysis :
In 2023, APAC dominated the market and held a greater than 45% share of global revenue. The area is characterized by the availability of inexpensive, skilled labor, making it the most lucrative place for companies to establish production services. Furthermore, it is projected that a movement in the global manufacturing environment toward South Asian countries will favorably drive market growth throughout the course of the projection period.
♦ China
Given the prevalence of end-use businesses in the country, China held a significant portion of the regional market in 2023. It is among the world’s principal hubs for manufacturing. China also spends a lot of money on defense and the military. Even if the COVID-19 pandemic also affected China’s engineering efforts, the country recorded a quick recovery in comparison to other parts of the world.
♦ North America
Over the course of the forecast period, North America is anticipated to experience consistent growth. Reaching pre-Covid stages is crucial, and combining sustainable keys is anticipated to increase local product demand. For example, Rio Tinto introduced new chains of premium aluminum alloys in December 2022 to enable die caster recycling. Throughout the projection period, such innovations should prove beneficial to the market’s growth.
Aluminum Die Casting Market Segmentation:
In 2023, pressure die casting accounted for almost 77 percent of total revenue. The procedure’s outstanding features, which include robust mechanical qualities and facile cavity filling, are responsible for the large share. Throughout the projected period, the growing preference for pressure die casting is anticipated to propel market growth, especially in the automotive sector.
by Process
High-Pressure Die Casting
Low-Pressure Die Casting
by End-Use
Transportation
Industrial
Building & Construction
by Material
Aluminum
Zinc
Magnesium
Others
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Key Players :
Discover strategies of the key players in the market and explore how they are navigating trends, expanding their portfolios, and capitalizing on emerging applications. From global leaders to regional influencers, this report provides a complete competitive analysis.
1. Ryobi Ltd.
2. Martinrea Honsel Germany GmbH
3. Gibbs Die Casting Corporation
4. Endurance Technologies Ltd.
5. Dynacast International Inc.
6. Consolidated Metco Inc.
7. Bodine Aluminum Inc.
8. Alcast Technologies Ltd.
9. Aluminum Corporation of China Ltd.
10. Alcoa Corporation
11. CAB Incorporated
12. DyCast Specialties Corp.
13. IQE, LLC
14. Alumicast, Inc.
15. Mardek, LLC
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/aluminum-die-casting-market/133357/
Key Highlights:
- Historical Market Data (2018-2023)
- Forecasts by Segment, Region, and Industry Application (2024-2030)
- SWOT Analysis, Value Chain Insights, and Growth Drivers
- Legal Aspects by Region and Emerging Opportunities
Top Questions Answered:
- What are the key growth drivers and trends in the market?
- Who are the major players, and how do they maintain a competitive edge?
- What new applications are poised to revolutionize the Aluminum Die Casting industry?
- How will the market grow in the coming years, and at what rate?
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