Global Aluminum Castings Market Trends, Applications, Analysis, Growth, and Forecast to 2026

MarketResearch.biz delivers in-depth insights on the global aluminum castings market in its upcoming report titled, “Global Aluminum Castings Market Trends, Applications, Analysis, Growth, and Forecast to 2026”. The global aluminum castings market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017 to 2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global aluminum castings market has been segmented on the basis of process, end-use, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Cast aluminum is also known as tempered aluminum which is non-toxic in nature. Aluminum is light-weight, possess excellent strength, high thermal and electrical conductivity, high reflectivity, excellent workability, and attractive in appearance, owing to which aluminum is preferred over steel and iron as casting material.  Two types of aluminum logs are currently available in the market – primary consisting of pure aluminum, and secondary consisting of prime and scrap.

Increasing use of aluminum is widely used in various end-use applications is a major factor driving growth of the global aluminum castings market. Lightweight property of aluminum contributes towards major cost savings, which is another major factor supporting growth of the target market. Increasing construction activities and rising demand for light-weight automobiles are other factors fueling growth of the target market over the forecast period.

However, rising demand for lightweight materials for casting purpose such as carbon fiber and manganese as substitute for aluminum is a factor expected to limit growth of the global aluminum castings market over the forecast period.

A major and rising trend in the global aluminum castings market is development and manufacture of aluminum castings from recycled aluminum, owing to stringent government regulations associated with recycling of materials to reduce waste, especially in developed economies. This trend is expected to continue over the forecast period.

Currently, market in Asia-Pacific accounts for highest market share in the global aluminum castings market in terms of revenue. This can be attributed to presence of some of the largest aluminum producing countries such as China, Australia, and India. Increasing adoption of aluminum castings in automobile sector and aviation sector is another factor supporting growth of the target market in the region. Markets in Europe and North America are also expected to witness significant growth over the forecast period, owing to increasing demand for light-weight vehicles and increasing automobile sector in countries such as US, Germany and France. Furthermore, presence of major airline manufacturing companies such as Airbus, Boeing, and Bombardier in these regions further supports growth of the global market in respective regions.

Global aluminum castings market segmentation:

By process:

• Die casting
• Permanent mold casting
• Sand casting

By end-use:

• Transportation
• Industrial
• Building and construction
• Others (Household appliances, Engineering Tools, and Telecom)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa