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Automotive Lightweighting to Drive the Demand for Aluminum Castings
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This research service provides an analysis of the global aluminum castings market. The global market for aluminum castings is in a mature stage, with demand expected to be largely driven by growth in end-use industries such as automotive, industrial, and building and construction. The market is highly fragmented with the presence of numerous regional and international companies. Some of the key market participants are Nemak, Ryobi, Ahresty, GF Casting Solutions, Consolidated Metco, Gibbs Die Casting Corporation, Arconic, Bodine Aluminum, Alcast Technologies, Endurance Technologies, Rockman Industries, Rheinmetall Automotive, and KSM Castings Group. The top 5 aluminum casting manufacturers contributed 28.6% of the total global market revenue in 2018. Some of the key factors driving market growth are lightweighting, increase in vehicle production, and a rising number of building and construction projects. Majority of the demand for aluminum castings comes from the automotive industry, primarily driven by efforts to improve fuel efficiency and reduce carbon dioxide (CO2) emissions. The demand for aluminum castings is expected to grow further with technological advances in casting automation. One of the technological advances in the aluminum foundry industry is the ability to perform simulation of solidification of the molten metal in the mold as it assists in optimizing the design of the cast product. In addition to vehicle components such as cylinder heads and engine blocks that are manufactured through the casting procedure, companies are increasingly focusing on structural parts. Structural components in a vehicle such as cross members, longitudinal members, and shock towers that are traditionally made of steel through the stamping process are increasingly being manufactured through aluminum casting. Growing urbanization is expected to drive growth in industrial and residential activity, thereby boosting the demand for aluminum castings for industrial products such as hand tools and machine tools; and for building and construction products such as balustrades, grills, and gates.
This research service covers the global aluminum castings market. Regions covered in the study are Europe, NALA, Asia-Pacific, and Rest of the World. The study is segmented by type of production, region, and end-user segment. The key end-user segments in the global aluminum castings market are automotive, building and construction, and industrial.
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