The South Korea Automotive Parts Zinc Die Casting Market size is estimated at USD 0.16 billion in 2023, and is expected to reach USD 0.21 billion by 2028, growing at a CAGR of greater than 5% during the forecast period (2023-2028).
The automotive industry occupies almost 28% share of zinc die casting usage for applications like inertia disks, retractor gears, etc., followed by the building and hardware sectors. Along with merits like resistance, versatility, toughness, and low cost, zinc die casting produces low-level emissions in air and water.
The market for zinc die-casting machines is expanding due to technological advancement and the rising popularity of high-pressure die-casting, which contribute to the market's expansion. With the development of new technologies, automotive parts have seen advancement and innovation in recent years. Among them, auto component manufacturing using lightweight materials received widespread attention.
Compared to other die-casting parts, zinc die-casting parts are usually equipped with better mechanical properties, like toughness, and offer higher surface finish and lower thermal shock during casting (due to their lower operating temperature).
The market witnesses opportunities in the form of increasing electric vehicle sales, which require a higher density of lightweight components. Major companies like Dynacast focus on identifying affordable raw materials and alloys that offer better durability.
Several vehicle manufacturers are focusing on zinc parts as zinc-casted products go directly into the assembly process. Zinc-casted products already have a better finish, reducing the special finishing process. Zinc die-casting parts are usually equipped with better mechanical properties like toughness. They have better thermal and electrical conductivity than other die-casting parts, which is likely to enhance the demand for zinc die-casting parts in vehicles.
All regions worldwide are consistently working toward enacting regulations for reducing emissions and improving fuel economy, especially in the automotive industry, which drives the market. This led to the modernization of vehicles and encouraged automakers to utilize zinc parts for automotive vehicles. South Korea is consolidating its position with strong domestic and external demand for high-quality zinc die-cast components at lower prices.
Gear sets, valve bodies, stators, drive motor housing, transmission housing, axles (both front and rear), and other transmission housing parts are some of the commonly die-casted transmission parts in the automotive industry.
The integration of zinc die casting in automotive transmission systems offers a range of advantages, including weight reduction, improved performance, durability, and environmental sustainability. As the automotive industry continues to seek innovative solutions for efficiency and environmental concerns, parts and components using aluminum high-pressure die casting remain a valuable and beneficial choice for modern transmission systems.
Electrical and hydraulic components in an automobile work simultaneously. Reliability and quality are of utmost importance in transmission parts. The transmission system in any automobile is an extremely complex combination of mechanical functions. These parts are prone to extreme conditions and environments, making their integrity a very high priority.
The increase in vehicle electrification has been rampant in the vehicles produced, coupled with the growing traction of hybrid powertrains in the region. As a result, the adoption of zinc castings is increasing significantly in areas like battery compartment housings and various transmission and powertrain components for these vehicles, driving the growth of the market.
Due to the aforementioned factors, the market is expected to grow rapidly in the coming years.
The South Korean automotive parts zinc die-casting market is majorly dominated by a few players, including Dynacast, Brillcast Manufacturing LLC, Pace Industries, Sandhar Technologies Ltd, Ashok Minda Group, and Kemlows Die Casting Products Ltd.
These companies focus on providing the best quality products to customers by investing in R&D projects and expanding their geographical presence.
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