Die Casting Market Analysis and Forecast up to 2028 with CAGR 7.2%

 

Die Casting Market 

Die casting is a process of producing geometrically complex metal components by using reusable moulds known as dies. The metal, which is often a nonferrous alloy such as aluminium or zinc, is melted in a furnace before being fed into dies in a die casting machine. The process involves forcing molten alloy or metal into a mould cavity under high pressure. Die castings are made from metals such as lead, zinc, magnesium, aluminium, copper, and tin-based alloys.

The die casting business is expanding as demand for fuel-efficient, high-performance, and low-emission vehicles rises. Demand for die casting machines is being pushed further by an expansion in the machinery manufacturing sector and an increase in construction industry spending. The market's expansion is anticipated to be hampered by raw material price volatility. Furthermore, there have been a number of advancements in classic high-pressure die casting procedures in recent years. Such factors are anticipated to present market participants with appealing growth opportunities over the forecast period.

The global Die Casting Market was valued at US$ 62.3 Bn in 2020 and is expected to reach US$ 106.5 Bn by 2028 at a CAGR of 7.2% between 2021 and 2028.

To match new market trends, high pressure die casting (HPDC) technology is continuously changing. As a result, new die lubrication technologies are being introduced into the die casting industry. These innovative technologies boost die casting plant productivity by enabling casters to make high-quality and complicated castings at high die temperatures while decreasing machine downtime.

In the vehicle die casting business, China has the biggest market share. Due to covid-19, the global economy and environmental rules had a big influence on Chinese vehicle exports in early 2020. Recent global regulatory changes have had little to no impact on the rate of sales growth in 2019.

The COVID-19 pandemic had a significant influence on manufacturing operations, and the market experienced a slowdown as a result of supply chain interruptions and trade restrictions throughout the world. However, the global restart of economic activity is expected to generate consistent growth over the predicted period. The supply chain difficulties in the die casting industry, the developing automotive market, the increasing penetration of die casting components in industrial machinery, the growing constructional sector, and the use of aluminium castings in electrical and electronics are driving the market examined. CAFÉ requirements and EPA initiatives to decrease automotive emissions and boost fuel economy are pushing automakers to use lightweight non-ferrous metals to reduce vehicle weight. Subsequently, employing die-cast parts as a weight reduction strategy is acting as a major driver for the former market in the automotive segment.

As a result, using die-cast parts as a weight-saving approach is a primary driver for the former market in the automobile industry. However, a shortage of raw materials, volatility in raw material costs, and environmental laws on emissions for the metallurgical sectors are all important roadblocks to industry expansion.

 

Due to increased demand for vehicles in countries like as China and India, as well as increased usage of aluminium die casting for different applications, the Asia-Pacific region is expected to have the biggest market share in the die casting Market. The aluminium die casting market in North America is also predicted to rise significantly due to increased output from the construction and automotive industries.

Top Companies involved are- Alcast Technologies, Arconic, Consolidated Metco, Inc., Dynacast International Inc., Gibbs Die Casting, Ryobi Die Casting Inc., Bodine Aluminum, Martinrea Honsel Germany GmbH, Leggett & Platt, Endurance Technologies Ltd., Empire Die Casting Company, Alcoa Inc., Hitachi Metals Ltd, Nemak S.A.B. de C.V., GF Casting Solution AG, Shiloh Industries Inc., Rheinmetall Automotive AG, Sigma Electric Manufacturing Corp., Pace Industries, and Guangdong Yizumi

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