What is Aluminum Casting?
Aluminum casting is defined as the metalworking process which involves pouring liquid metal into a mold or form. The main advantages of using aluminum casting are flexible quantities, high strength, less machining, fine surface finish, among others. It offers high conductivity with protection against corrosion. Aluminum casting products are widely used in the manufacture of pistons, engine parts and other parts in automobiles sectors. Rising usage of aluminum in the automotive industry and increasing replacement of steel with aluminum is directly affecting the demand for aluminum casting market and is increasing its market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Alcoa Corporation (United States), Aluminum Corporation of China Limited (China), Ryobi Limited (Japan), United Company Rusal (Russia), Dynacast Charlotte (United States), Casting Corp (United States), China Hongqiao Group Limited (China), Arconic Inc. (United States), Rio Tinto (United Kingdom) and Dynacast Charlotte (United States) |
The study covers a detailed analysis segmented by key business segments i.e. , by application (Transportation Industrial, Building & Construction and Others) and major geographies. Research Analyst at AMA predicts that United States and Asia Pacific Vendors will contribute to the maximum growth of Global Aluminum Casting market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Aluminum Casting market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Alcoa Corporation (United States), Aluminum Corporation of China Limited (China), Ryobi Limited (Japan), United Company Rusal (Russia), Dynacast Charlotte (United States), Casting Corp (United States), China Hongqiao Group Limited (China), Arconic Inc. (United States), Rio Tinto (United Kingdom) and Dynacast Charlotte (United States).
Market Overview:
In April 2021 -RUSAL a leading global aluminum producer, announces the acquisition of Aluminium Rheinfelden GmbH. By combining Aluminium Rheinfelden's high-end, niche product focus with RUSAL's global scale low-carbon aluminum alloy production, the acquisition strengthens RUSAL's position as the supplier of choice to its international network of automotive customers and is expected to deliver strong commercial synergies.
The Global Aluminum Casting market is highly competitive the companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies are likely to expand on account of the growing penetration of aluminum castings in EVs. For instance, many companies are installing machines for aluminum casting in the automotive industry.
Influencing Trend:
Rising Adoption by Organizations owing to Productivity, Ease of Use, and Lower Costs
Market Growth Drivers:
Rising Demand in Automobile and Consumer Appliances and Increasing Investments in Construction, Mining, and Electronics
Challenges:
Huge Capital Investment Requirement and Environmental Consequence of Aluminum Cast Production
Restraints:
Availability of Substitute such as Magnesium, Hampering Market Share
Opportunities:
Increasing Investment in Automobile and Infrastructure Sectors and Rising Demand from Emerging Economics Such as India, China and others
Key highlights of the Global Aluminum Casting market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Aluminum Casting market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Aluminum Casting market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Aluminum Casting Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Aluminum Casting market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Aluminum Casting market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Automotive industry, Transportation sector, Research and Development (R&D) Companies, Aluminum casting manufacturers, Research Organization, Federal Agencies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.