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Several factors are responsible for the growth of Aluminum Die Casting market over time in the global scenario. Firstly, industrialization and automation have brought about the revolution of mass scale production in minimum time. Die casting process provides precise component specification manufactured in the shortest time possible. Secondly, the government initiatives are inclined towards energy saving and lowering the carbon footprint for the automobile manufacturing process which can be achieved using the die casting process. The global Aluminum Die Casting Market is expected to expand at ~7% CAGR.
Segmentation
On the basis of production process, the pressure die casting is the most widely used method. This can be attributed to the simplicity of operation, which makes it suitable for large-scale manufacturing at affordable rates. Squeeze die casting is similar to pressure die casting, in which the molten metal is in close contact with the die metal under high pressure, providing the die at the desired hardness level. On the basis of the raw materials, aluminum is the most widely used for manufacturing of the dies owing to its high malleability. On the basis of application type, the die casting process is most widely used for manufacturing engine parts and transmission parts owing to the high complexity and intricacy involved in the design and production process.
Regional Analysis
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific market is expected to drive the growth of the Aluminum Die Casting market. The automotive industry in this region is expected to grow rapidly owing to the increasing population, increasing purchase power of the people, growing middle class. Countries such as India and China are expected to emerge as major automotive hubs in the next decade. To cater to the large number of automotive sales and sell automobiles at affordable prices, die casting is the ideal manufacturing process. The Europe market has been the global automotive hub for research and innovation. The die casting process helps in manufacturing the components of required intricate design.
The Key Players In Aluminum Die Casting Market Are:
Alcast Company (U.S.), Dynacast, LLC (U.S.), Endurance Technologies Limited (India), Gibbs Die Casting Corp (U.S.), and Rockman Industries (India). Ryobi Die Casting Inc. (U.S.), Kinetic Die Casting Company, Inc. (U.S.), Magic Precision, Inc. (China), Meridian Lightweight Technologies Inc. (England), and Mino Industry USA, Inc. (U.S.) are among others.
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