London, 24 February 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Aluminum Casting Market 2015-2019, which is expected to grow at a CAGR of 10.02 percent from 2014-2019.
The growth of the Global Aluminum Casting market has been promising in recent years because of growing demand for aluminum castings from the APAC region. Effective adoption of aluminum casting enables manufacturers to develop superior-quality products. The rapid pace of industrialization and development in China, India and South Korea is also the primary demand driver for industrial castings in the region.
“In a bid to preserve the environment, more and more developed countries have endeavored to adopt stringent legislations to regulate their manufacturing sectors,” says Faisal Ghaus, Vice President of TechNavio.
“OEMs and their suppliers are engaging in R&D to find ways of improving fuel efficiency, increasing power and reducing the weight of the automobile’s core components, thus leading to an enhanced usage of non-ferrous materials like aluminum and magnesium.”
Key Market Drivers
- Industrialization and Development in APAC Region
- Increased Demand from Automotive Sector
- Increased Demand from Building and Construction Sector
Key Market Trends
- Stringent Environmental Legislations
- Steady Shift from Ferrous Casting to Non-ferrous Casting
- Adoption of Computer-integrated Manufacturing Systems
- Shift of Manufacturing Units to Emerging Countries
Key Market Vendors
- Alcoa Inc.
- Dynacast Inc.
- Gibbs Die Casting Corp.
- Ryobi Ltd.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
