Global Aluminum Die Casting Market Overview
Die casting is an automated process that forces molten metal under high pressure into a mold cavity. The liquid aluminum melt is pressed into a mold under high pressure of 150 to 1200 bar and at a high filling speed of up to 540 km/h. Die casting is the most economical and quickest forming processes. The benefits of this production process are that hundreds of thousands of castings can be produced relatively quickly by using just one mold. All aluminum components produced have uniform quality and involve relatively low unit costs. This casting process is particularly suitable for the series and mass production of aluminum components. World demand for aluminum die casting is projected to grow with spurring demand for aluminum across industries coupled with a growing preference for an automation process to increase productivity. Aluminum is demanded across transportation, agricultural, equipment construction, building & construction, telecommunication, consumer durables, energy, among others due to its lucrative properties such as lightweight, thermal and electrical conductivity, reflectivity, nontoxic features, recyclability, finish ability, strength, high strength-to-weight ratio, and ease of fabrication.
According to Value Market Research, the global aluminum die casting market size was valued at about USD 30 billion in 2020 and is estimated to grow at a CAGR of around 7% during the forecast period 2021 to 2027.
The growing use of aluminum for designing lightweight vehicles and machines, technological advancements and innovation in aluminum die casting machines, escalating investment by end-use industries to set up new manufacturing capacity are major highlights of the market. Automakers are taking the initiative towards making lighter vehicles to boost fuel efficiency and deduct carbon emissions. Aluminum is the preferred choice for the automaker as a lightweight metal. Furthermore, demand for a greater return on investment and manufacturer's expectations for increasingly higher levels of quality at a lower price will be encouraging the growth of the market.
Earlier, the complexity and tolerances of the aluminum die casting depended on the skill of the press operator; however, with the advent of new programmable and technically controlled die casting machines, it is possible now to produce such shapes to superior overall thickness or width tolerances bands. This is estimated to propel the growth of the market.
Aluminum prices have remained fluctuating due to global trade war concerns, with domestic prices trending down amid rising imports. However, the volatility of aluminum prices and other polymer's composite employment over aluminum hinders the global aluminum die casting market. Magnesium alloys and polymer composites potentially meet the demands for lighter and reliable construction. With comparable specific stiffness, higher specific strength, and energy absorption, magnesium alloys can replace aluminum in the near future.
The global aluminum die casting market is highly fragmented. Alcoa Corporation, Walbro, Dynacast, Gibbs Die Casting Corporation, Ryobi Ltd., Consolidated Metco, Inc., Bodine Aluminum, Inc., Martinrea Honsel Germany GmbH, Alcast Technologies are key players operating in the market.
In this research report, the aluminum die casting market is segmented by process, end-use, and region.
Analysis, By Process
By process, the global aluminum die casting market is fragmented into pressure die casting, vacuum die casting, squeeze die casting, and others. Low-pressure die casting is the most commonly used process for aluminum components. The removal of feeders from this type of low-pressure aluminum casting process delivers high casting yields. Low-pressure die casting allows precise control of the filling process. Injecting the molten metal in this way reduces oxide formation. It reduces porosity, ensuring superior consistency from top to bottom, results in exceptional density and strength values, as well as excellent dimensional accuracy. It is also well suited to simpler, symmetrical forms, more complex geometries. Squeeze and semi-solid die casting process are another two significant segments preferred when high precision and the dense product is required,
Analysis, By End Use
By end-use, the global aluminum die casting market is segmented into transportation, industrial, building & construction, telecommunication, consumer durables, energy, and others. Transportation accounted for the maximum share in the global aluminum die casting market. Growth in vehicle production, the wide application of aluminum in modern vehicles, and the growing demand for more fuel-efficient vehicles increase the segment’s growth. The transportation end-use segment of the die-casting aluminum market is expected to grow much faster due to lightweight car production and growing awareness among end-users about aluminum’s property features.
Analysis, By Chamber Process
By chamber process, the global aluminum die casting market is divided into hot chamber aluminum die casting and cold chamber aluminum die casting. Cold-chamber dies casting is the more popular of the two main die casting processes. The cold chamber process is preferred because of aluminum’s high susceptibility to corrosion with the hot chamber process. The cold chamber process focuses on minimizing corrosion rather than production efficiency by eliminating the injection mechanism. Sometimes, the hot chamber aluminum die casting process is also preferred by blending aluminum with other metals.
Analysis, By Region
Based on region, the global aluminum die casting market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The Asia-Pacific region is the largest and fastest-growing market for aluminum die casting. The Asia Pacific region is full of opportunities. This massive region is an lucrative opportunity for market growth, encompassing China, India, Japan, and ASEAN countries. China and India are the major contributors. Expanding consumer base, thriving end-use industries, and growing government support for industrial growth will encourage aluminum die casting demand throughout the forecast period.
Market Segmentation covered in the Report:
By Chamber Process
- Pressure Die Casting
- Vacuum Die Casting
- Squeeze Die Casting
- Hot Chamber Aluminum Die Casting
- Cold Chamber Aluminum Die Casting
- Transportation (General Road Transportation, Sports Road Transportation, Heavy Vehicles, Aerospace & Aviation0
- Industrial (Agricultural Equipment, Construction Equipment, Others)
- Building & Construction
- Consumer Durables
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.