The aluminum casting market is witnessing high growth owing to the increase in the demand from the automotive, infrastructure, industrial and manufacturing and consumers goods sector among others.
New York, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aluminum Casting Market by Process, End-use Sector And Region - Global Forecast to 2026" - https://www.reportlinker.com/p04927581/?utm_source=GNW
Aluminum casting is a type of metalworking process that involves pouring liquid metal into a mold or form.Aluminum casting is a variation that uses only aluminum and aluminum alloys as the liquid metal that is poured into the mold.
Aluminum castings are used to make complex and detailed parts very efficiently.Traditionally, aluminum casting was achieved using a process called green sand casting.
This involved the use of wet sand in the creation of casting molds.As a method, it was efficient and cost-effective, but not without its drawbacks.
The die casting method of aluminum casting is ideal when large numbers of simple or complex castings are required. This casting process results in an aluminum casting with smoother surfaces and good dimensional accuracy. This means that less fettling and finishing of the finished product is required.
Die casting is the largest process segment of the aluminum casting market
The aluminum casting market is segmented on the basis of process into die casting, sand casting and permanent mold casting.The die casting process segment accounted for a larger market share.
Die casting is also projected to be the fastest-growing process segment. The growth in the die casting segment is attributed to the growing automobile industry, globally, as this technique is largely used in the manufacturing of automobile components such as engine blocks, wheel spacers, and transmission housing.
Transportation sector is the largest end-use segment of the aluminum casting market
The aluminum casting market is segmented on the basis of application into transportation sector, building & construction sector, industrial sector, and others.The transportation sector segment led the market in terms of both value and volume.
This growth is attributed to growing popularity of lightweight vehicles and better fuel efficiency in automobiles. Moreover, the growing global demand for lighter automobiles has led to the replacement of steel and iron parts with cast aluminum parts by automobile manufacturers.
APAC is the largest market for aluminum casting market
The APAC region is projected to be the largest market, in terms of value.APAC is also expected to grow at the highest CAGR during the forecast period.
Growth in APAC is backed by the efficient demand and supply cycle of the automobile sector majorly in countries like China, India and Japan.A periodic and significant increase in infrastructure development is driving the market in the area.
APAC is also an industrial hub with a considerably large market size. Other factors, such as the increasing consumer goods demand, innovation in aerospace, etc are expected to support the growth of this regional market during the forecast period.
The breakdown of primary interviews is given below:
• By Department: Sales/Export/Marketing – 60%, Production – 25%, and R&D –15%
• By Designation: Managers – 50%, CXOs – 30%, and Executives – 20%
• By Region: APAC – 42%, North America – 18%, Europe – 14%, Middle East & Africa – 22%, and South America – 4%
The key companies profiled in this report on the aluminum casting market include Alcoa Corporation (US), Ryobi Limited (Japan), Aluminum Corporation of China Limited (China), Rio Tinto (UK), United Company RUSAL (Russia) are key players in aluminum casting market.
The aluminum casting market has been segmented based on process, end-use sector, and region.This report covers the aluminum casting market and forecasts its market size until 2026.
It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the aluminum casting market.The report also provides insights into the drivers and restraints in the aluminum casting market along with opportunities and challenges.
The report also includes profiles of top manufacturers in the aluminum casting market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the aluminum casting market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the aluminum casting market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the aluminum casting market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as merger & acquisition, new product developments, expansions, and collaborations.
Read the full report: https://www.reportlinker.com/p04927581/?utm_source=GNW
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