This market research report includes a detailed segmentation of the global aluminum casting market by process (die casting, permanent molding, and others) and by application (aerospace and marine, automobiles, building and construction, power and hand tools, telecom, heavy machinery and industrial, and others). It also outlines the market shares for key regions like APAC, Americas, Europe, and ROW. The leading vendors analyzed in this report are Alcast Technologies, Alcoa Howmet, Consolidated Metco, Dynacast, Gibbs Die Casting, and Ryobi.
Technavio has released a new market research report on the global aluminum casting market, which is expected to grow at a CAGR of 6% between 2016 and 2020. The growing demand for lightweight and fuel-efficient vehicles is boosting the demand for aluminium casts. Aluminum castings are lightweight and can be easily customized through heat treatment. This makes them suitable for automobiles as they help to improve the fuel efficiency by reducing the overall weight of the vehicle. APAC dominates the global market for aluminum castings, accounting for 56% of the overall market share. It is expected to be the fastest-growing region because of the growing demand from the construction and automobile industries.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Manufacturers are adopting computer-integrated manufacturing systems to reduce the production time of high-precision aluminum casting products. Such systems enable vendors to streamline and automate the casting process. They eliminates the incidences of manual errors, improving the quality of the final products. They also help in decreasing labor and operational costs, enabling vendors to reduce the costs associated with bad quality and the overall cost associated with end-product casting,” says Chandrakumar BJG, Lead Analyst, Chemicals & Materials, Technavio Research
Technavio’s analysts have estimated the aluminum die casting segment to be the largest market segment during the predicted period. This segment currently accounts for more than 51% of the total market share and is anticipated to further enhance its hold over the market by 2020 owing to its cost effectiveness. The ability of this process to enable dimensional stability in complex shapes and thin surfaces will foster its adoption during the forecast period.
The leading vendors in the global aluminum casting market are Alcast Technologies, Alcoa Howmet, Consolidated Metco, Dynacast, Gibbs Die Casting, and Ryobi. This market is highly fragmented owing to the presence of many well-diversified international and regional providers. These vendors provide cost-effective casting products with limited functional capabilities. To stay competitive in this market, vendors have to invest in developing new technologies and have to stay abreast of emerging technologies that could have a bearing on their product lines.
A more detailed analysis is available in the Technavio report, Global Aluminum Casting Market 2016-2020.
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