Aluminum Casting Global Market Report 2024

Aluminum casting is an industrial process that involves pouring molten metal into molds shaped to the final object. This procedure is utilized in the manufacturing of aluminum products, either as part of a machine or product, or for commercial industrial production, contributing to the creation of metal parts with specific details and quality.

The primary types of aluminum casting processes include die casting, sand casting, and permanent mold casting. The die casting market comprises sales of aluminum by entities (organizations, sole traders, and partnerships) referring to a manufacturing process where molten metal is poured to achieve desired shapes. Die casting is particularly used to enhance automotive fuel efficiency by reducing weight. Aluminum casting finds applications in various sectors, including transportation, building & construction, industrial, and others.

The aluminum casting market research report is one of a series of new reports that provides aluminum casting market statistics, including aluminum casting industry global market size, regional shares, competitors with an aluminum casting market share, detailed aluminum casting market segments, market trends, and opportunities, and any further data you may need to thrive in the aluminum casting industry. This aluminum casting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The aluminum casting market size has grown strongly in recent years. It will grow from $65.53 billion in 2023 to $70.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The observed growth in the historical period can be attributed to several factors, including rapid economic growth, increased infrastructure spending, a growing demand for sustainable and eco-friendly construction materials, increased urbanization, and a rise in industrialization.

The aluminum casting market size is expected to see strong growth in the next few years. It will grow to $94.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be attributed to factors such as an increase in the production of electric vehicles, the development of renewable energy infrastructure, a heightened focus on the circular economy, a growing demand for lightweight and easy-to-install construction materials, and ongoing infrastructure development. Key trends expected in the forecast period include advancements in casting technologies, the integration of additive manufacturing, progress in alloy development, a focus on customization and design complexity, and the increasing use of digitalization in casting simulation.

The automotive industry's burgeoning demand fuels expansion in the aluminum casting market. With automobiles relying significantly on aluminum components - comprising over 50% of crucial parts like transmission housings and pistons - the global production of vehicles has consistently risen. Notably, in May 2023, the European Automobile Manufacturers Association reported a 5.7% increase, reaching 85.4 million units in 2022 compared to the previous year. Additionally, according to Brand Finance plc in February 2022, the sector achieved substantial growth with approximately 78 million unit sales. This surge in aluminum product demand within the automotive realm distinctly propels the aluminum casting market's growth.

Anticipated growth in the construction sector stands as a driving force behind the aluminum casting market's expansion. Aluminum casting, prized for its durability, design flexibility, and cost-efficiency, finds widespread application in construction. Reports from September 2021 by Oxford Economics indicate a projected 42% increase in global construction output by 2030, amounting to a staggering USD 15.2 trillion - a testament to the material's crucial role. Hence, the mounting demand within the construction sphere distinctly propels the upward trajectory of the aluminum casting market.

A burgeoning trend in the aluminum casting market involves strategic partnerships among companies. Firms in the aluminum product manufacturing sector are increasingly forming alliances to pioneer innovative technologies and products. An illustrative instance is the partnership between Rio Tinto and Comptech in June 2021. Rio Tinto, a global metals and mining entity, collaborated with Comptech, an Asian-based R&D institute specializing in aluminum semi-solid castings, to advance the semi-solid Rheocasting process. This technique allows for cost-effective production of high-strength, low-porosity aluminum components, particularly beneficial in crafting 5G antennas and specialized applications like electric vehicles. This partnership endeavors to introduce a new line of specialized alloys tailored for high-performance and cost-effective solutions in sophisticated sectors.

Prominent players within the aluminum casting market are strategically focusing on expanding their facilities to cater to escalating demand and drive revenue growth. Plant expansion denotes the strategic enhancement of existing manufacturing or operational facilities to bolster production capabilities in response to increased market needs. An exemplar is Kingston Metals & Materials Inc. (KM&M-Aluminum), a US-based entity specializing in specialty aluminum alloys, products, and processes. In July 2023, the company initiated operations at a new aluminum facility located in Kingston, ON, Canada. KM&M-Aluminum integrates cutting-edge equipment, comprehensive analysis, and decades of expertise to create specialized aluminum alloys and products using advanced aluminum casting methodologies, consolidating these elements into a singular operational hub.

In a significant move, RUSAL, a globally recognized Russian-based aluminum giant, executed an undisclosed acquisition of AluminumRheinfelden GmbH in April 2021. AluminumRheinfelden GmbH, a Germany-based manufacturer specializing in aluminum alloys, semis, and carbon-based components, now falls under RUSAL's purview. This acquisition strategically fortifies RUSAL's position as a premier supplier to its international automotive clientele. The consolidation is poised to yield substantial commercial synergies, foster the creation of high-value niche products, and drive innovation toward sustainable aluminum solutions and value-added offerings.

Major companies operating in the in the aluminum casting market report are Alcoa Corporation, Aluminum Corporation of China Limited, Alcast Technologies Ltd., Bodine Aluminum Inc., Consolidated Metco Inc., Dynacast International Inc., Gibbs Die Casting Corporation, Martinrea Honsel Germany GmbH, Ryobi Ltd., Walbro Corp., China Hongqiao Group Limited, Arconic Inc., Eagle Aluminum Cast Products Inc., American Aluminum Casting Company, Architectural Grille LLC, Sussman Architectural Products Inc., California Sealing Solutions Inc., P. Q. D. International Inc., Medical Electronic Systems, A&B Die Casting Co. Inc., Zetwerk Pvt. Ltd., Aluminum Die Casting Company Inc., Casting Solutions Components S. A de CV, Regensburger Druckgusswerk Wolf GmbH, Apppex GmbH, Pace Industries Pvt. Ltd., Craft Pattern & Mold Inc., Empire Die Casting Co., General Aluminum Mfg. Company, Harrison Steel Castings Co., Intermet Corporation, Kurt Die Casting, LaSalle Bristol Inc.

Asia-Pacific was the largest region in the aluminum casting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aluminum casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the aluminum casting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The aluminium casting market includes revenues earned by entities by producing accurately, defined, smooth and textured-surfaced metal parts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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