Growing Demand for Lightweight and Energy Efficient Products Drives the Global Aluminum Castings Market
Published: March 2018
- Code: MCP-2664
- Pages: 348
- Tables: 164
- Companies: 118
ALUMINUM CASTINGS: A RESEARCH BRIEF
The global Aluminum Castings market is projected to reach 25.5 million tons by 2024, driven by the escalating demand for lightweight and energy efficient components in industries such as transportation, consumer appliances and industrial equipment, among others and the resulting shift towards aluminum away from conventional steel. Benefits of aluminum castings that make it the most preferred and favored metal casting process among manufacturers include faster and cheaper finished product manufacturing process than when compared to traditional alloy materials; ability to achieve complex designs and forms; high degree of customizability; lightweight and high aesthetic value; versatility and excellent corrosion resistant properties, thermal conductivity, EMI and RFI shielding properties; longer life and durability of finished products; 100% recyclability; cost advantages; and ability to deliver near net shapes that minimize machining costs and time. Among the three major types of casting methods, die casting remains the largest most widely used process in comparison with permanent mold casting and sand casting. Advantages of die casting supporting its dominance include high-speed production, dimensional accuracy and stability, multiple surface finishing capabilities, stronger strength of die cast aluminum parts, and ability to provide provisions for fastening elements such as holes and threads which help simplify assembly of the finished product. Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 7.3% over the analysis period, led by strong economic growth, industrialization and rapid expansion of the manufacturing industry supported by increased outsourcing of metal component manufacturing activity to low cost Asian countries; rise in the number of metal casting job shops and foundries; focus on lightweight engineering in the aircraft and automobile industry; and growing consumer disposable incomes and strong demand for high-performance appliances and electronic devices.
COMPANY AND INDUSTRY NEWS & STORIES
- In a Move to Strengthen its Aluminum Casting Business, Shiloh Industries Plans to Take Over Brabant Alucast Italy and Brabant Alucast Netherlands
- With the Aim to Strengthens its Position in the European market, MGG Acquires Eurotech Group
- MetalX Inks Supply Agreement with Busche Performance Group in a Bid to Expand Presence in the Core Business
- Georg Fischer Acquires Eucasting Ro, a Producer of Aluminum Components in Romania
- With the Aim to Develop Lightweight Solutions for the Automotive Industry, Chassix Signs a Definitive Agreement to Take Over Benteler Automotive Farsundís Casting Business
OUTLOOK IN KEY MARKET SEGMENTS
- Transportation ranks as the largest end-use market driven by the increasing focus on reducing vehicular weight and CO2 emissions.
- Through 2024, Transportation will remain the largest end-use market for Aluminium Castings followed by Consumer & Industrial Sectors.
PRODUCT DEFINITION & SCOPE
- Casting is a traditional process for shaping aluminum into various products. Despite the advancements in casting technologies, the basic process remains unchanged. In aluminum casting process, aluminum is melted and injected into a hollow mold for forming the desired shape. Due to multiple advantages such as high heat resistivity, high tensile strength, close tolerance, molded inserts and fine surface finish, aluminum castings are used in a wide range of applications. Cast aluminum, also known as tempered aluminum, is lightweight and can be molded into complex shapes with low machining needs.
TIMELINE FOR ANALYSIS
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
GEOGRAPHIC MARKETS ANALYZED
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World
MARKET SEGMENTATION & CLASSIFICATION
- End-Use Sectors:
- Transportation (Passenger Cars, Commercial Vehicles, & Others), and Consumer/Industrial (Consumer Appliances, & Others).
- Casting Methods:
- Permanent Mold Casting, Diecasting, and Others.
- Alcast Company
- Alcoa Corporation
- Bodine Aluminum, Inc.
- CAF innovative Shapecasting
- Cosma International, Inc.
- Consolidated Metco, Inc.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable