Global Aluminum Casting Market Report and Forecast 2023-2028

Global Aluminum Casting Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global aluminum casting market reached a value of USD 79.8 billion in 2022. Aided by the escalating demand for lightweight, yet robust materials in numerous sectors and the expanding applications of aluminum casting in a diverse range of industries, the market is projected to further grow at a CAGR of 6% between 2023 and 2028 to reach a value of USD 113.2 billion by 2028.

Aluminum casting is a widely employed process in which molten aluminum is poured into a mould to obtain components of different shapes. This method is favoured due to its outstanding features, such as its ability to provide lightweight, durable, corrosion-resistant parts that boast excellent thermal conductivity and recyclability. Furthermore, it offers cost-effectiveness and flexibility in design, enhancing its viability in myriad industrial applications ranging from automobile and aerospace to construction and electronics.

The accelerating consumer inclination towards fuel-efficient and eco-friendly vehicles is a prominent driver for the global aluminum casting market growth. With a heightened awareness of carbon footprint reduction and energy conservation, the demand for lightweight, high-performance materials has surged. As such, aluminum casting has become a favoured choice for automotive parts manufacturing due to its strength-to-weight ratio, aiding in enhancing fuel efficiency and reducing CO2 emissions.

The broadening applications of aluminum casting in various industries also significantly propel the aluminum casting market development. The aerospace industry heavily relies on aluminum casting due to its lightweight yet high-strength properties that are crucial in aircraft manufacturing. In the construction sector, aluminum casting is employed for its corrosion resistance and aesthetic appeal, especially in window and door frame production. The electronics industry, on the other hand, appreciates aluminum casting for its superior heat dissipation properties, which are essential in ensuring the longevity and efficiency of electronic components, thus increasing the aluminum casting market demand.

Furthermore, the mounting demand for renewable energy systems, such as solar and wind power installations, has led to increased emphasis on aluminum casting as an indispensable element. Given the rise of sustainable energy sources, aluminum casting has emerged as a critical player in the manufacturing of components for solar panels and wind turbines due to its resistance to environmental corrosion and excellent conductive properties.

The aluminum casting market expansion is also buoyed by the increasing recycling trends in the industry. Aluminum casting is well-suited for recycling, with recycled aluminum requiring only 5% of the energy used for new aluminum production. This eco-friendly characteristic, combined with the escalating push for circular economy practices, reinforces the market prospects.

Market Segmentation

The market can be divided based on process, end use, and region.

Market Breakup by Process

• Die Casting
• Sand Casting
• Permanent Mold Casting
• Others

Market Breakup by End Use

• Transportation
• Industrial
• Building and Construction
• Others

Market Breakup by Region

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global aluminum casting companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Alcoa Corporation
• Walbro LLC
• Consolidated Metco, Inc.
• BUVO Castings BV
• Georg Fischer Ltd.
• RusAL
• Dynacast
• RYOBI Aluminium Casting (UK) Ltd
• Endurance Technologies Limited
• Gibbs
• RDW Wolf, GmbH.
• Martinrea Honsel Germany GmbH
• Alcast Technologies
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.