Aluminum Casting Market To Achieve A High CAGR Of 7.8% During Forecast Period 2014-2025
The global aluminum casting market is projected to reach USD
97.36 billion by 2025, according to a new report by Grand View Research, Inc.
The rapid shift in trend of using aluminum by replacing heavy metals such as
iron and steel in the automotive industry, along an increase in the use of
aluminum in the construction industry is further boosting the market growth.
Aluminum casting has gained huge popularity due to
its strength and lightweight features are anticipated to develop the industry.
The continuous increase in demand for aluminum casting in the automotive
industry, in order to improve fuel efficiency and by that reducing CO2 emissions
is a major driving factor for the industry growth.
Die casting process has high efficiency, and can be
casted into more variety of shapes and size than any other casting processes.
Aluminum dies casting is widely used in automotive sector for manufacturing of
parts such as engine cylinders, engine blocks, gears, flywheel, wheel spacer
etc.
The transport industry is expected to be the largest
end-use segment by 2025. The growth in this sector is attributed to growing
demand for lighter vehicles globally for better fuel efficiency. Automobile
manufacturers are also under a burden of regulatory guidelines to curb CO2 emissions
from their vehicles. One of the basic ways is to replace heavy metals like iron
and steel with lightweight aluminum. This regulatory trend is expected to be
one of the biggest drivers for aluminum casting industry.
Asia Pacific was the leading region due to its
rapidly growing population, which in turns generating demand in housing and
automotive industry. The availability of a many aluminum casting options and
ability to customize the product according to the need is leading to the growth
of the overall market in this region and globally.
Full
Research Report On Global Aluminum Casting Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/aluminum-casting-market
www.grandviewresearch.com/industry-analysis/aluminum-casting-market
Further
key findings from the study suggest:
- The market is expected to grow at a CAGR of
7.8% from 2017 to 2025 on account of increasing production as well as
demand for lightweight vehicles.
- Transportation is projected to have the fastest
growth in terms of revenue at a CAGR of 8.1% from 2017 to 2025 owing to
stricter emission standards by global regulatory authorities.
- Asia Pacific market is expected to witness
substantial development and was valued at USD 21.13 billion in 2016 owing
to its growing automobile and construction sector.
- Key participants include Alcoa, Alcast, Ryobi,
Dynacast, Consolidated Metco, Martinrea Honsel, Gibbs Die Casting and
others.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/micro-molding-and-microspheres
www.grandviewresearch.com/industry/micro-molding-and-microspheres
Grand View Research has segmented the global aluminum casting market on
the basis of product and region:
Process
Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
- Die
Casting
- Permanent
Mold Casting
- Other
Castings
End-Use
Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
- Transportation
- Industrial
- Building
and Construction
- Others
Regional
Outlook (Volume, Kilotons, Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Mexico
- Canada
- Europe
- Germany
- Italy
- Russia
- France
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- South
& Central America
- Brazil
- Middle
East and Africa
- South
Africa
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-aluminum-casting-market
www.grandviewresearch.com/press-release/global-aluminum-casting-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For More
Information: www.grandviewresearch.com
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