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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Aluminum Casting Market size valued US$ 57.61 billion in 2023 and is poised to grow at a CAGR of 7.14% from 2024 to 2030. Aluminum casting is the technique of moulding liquid aluminium under high pressure into a die cavity to create simple to complicated items. The mould is manufactured with accuracy in the desired shape, size, quality, and finish surface. These are the lightest die-cast alloys, have the best surface polish, and can endure the highest working temperature of any die-cast alloy. Aluminum is the raw material which is converted into products by using the casting process which is the original and most widely used process. However, advancements have been taken place in the field of aluminum casting but the principle remains the same, molten aluminum is poured into a mold to duplicate the desired pattern. However, the automotive industry is the largest market for aluminum casting. This report studies global aluminum casting market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global aluminum casting market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Study Period
2024-2030Base Year
2023CAGR
7.14%Largest Market
Asia-PacificFastest Growing Market
North America
The increasing demand from automobile and consumer appliances coupled with rising investments in construction, mining, and electronics is anticipated to drive the growth of the market over the forecast years. Moreover, replacement of iron and steel with aluminum in the automobile sector and industrial expansion in emerging economies is another factor fuelling the growth of the market. Furthermore, increasing military investments in Light weight weapon systems is one of the main factors driving the market growth.
Asia Pacific contributed highest share of revenue followed by Europe, and North America. In 2019, Asia Pacific region registered highest share in global aluminum casting market and is anticipated to grow with a significant CAGR over the forecast years owing to increasing trend in construction and transportation sectors. Europe is expected to grow with significant CAGR over the forecast period owing to increasing demand for aluminum casting owing to its durability, lightweight, and strength are anticipated to drive the growth of the market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 57.61 billion |
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Market CAGR |
7.14% |
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By Process |
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By End Use Sector |
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The global aluminum casting market size was valued at US$ 57.61 billion in 2023 and is projected to grow at a CAGR of 7.14% from 2024 to 2030.
The aluminum casting market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The aluminum casting market key players are: Alcoa Corporation, Rio Tinto, Aluminum Corporation of China Limited (Chalco), Gibbs Die Casting Corp, Arconic Inc.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.