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Lightweighting of Automobiles to Drive Demand for Aluminum Castings
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This research service analyzes the aluminium castings market in the global region. The global market for aluminium castings is in the mature stage. The demand for aluminium castings will largely be driven by growth in end-user segments such as automotive, industrial and building & construction. The global aluminum casting market is highly fragmented with the presence of numerous regional and international companies. Some of the key players include Nemak, Ryobi, Ahresty, GF Casting Solutions, Consolidated Metco, Gibbs Die Casting Corporation, Arconic, Bodine Aluminum, Alcast Technologies, Endurance Group, Rockman Industries, Rheinmetall Automotive and KSM Castings Group. The top five aluminium casting manufacturers contributed 28.6 percent of the total global market revenue in 2018. Some of the key factors that drive the market growth include lightweighting of automobiles, increase in automotive vehicle production and rise in building and construction projects. The majority of the demand for aluminum castings is from the automotive industry, mainly driven by efforts to improve fuel efficiency and reducing CO2 emissions. The demand for aluminum castings is expected to further grow owing to increasing technological advancements in casting automation. One of the technological advancements 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. Aside from vehicle components such as cylinder heads and engine blocks that are manufactured through casting procedure, companies are increasingly focusing on structural parts as well. Structural components in a vehicle such as cross members, longitudinal members and shock towers which are traditionally produced of steel through stamping process are increasingly being manufactured through aluminum casting. The increasing trend of urbanization will drive the demand for industrial and residential activity. This in turn will drive 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. Research Scope: This research covers the aluminium castings market. The 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 segments. The key end-user segments of aluminium castings in the global region include automotive, building & construction and industrial. Key Questions this Study will Answer: What is the addressable demand for aluminium castings in the world? What are the key regions? What are the major factors that drive the growth of the Aluminum castings market? Who are the key end-user segments for Aluminum castings? What is the preferred mode of distribution of aluminium castings to the end-users? Is the market fragmented or consolidated?
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