According to the report titled ‘Aluminum Casting Market Size, Share and Industry Analysis Report by Process (Die Casting, Sand Casting) and Application (Transportation, Building & Construction, Industrial Tools & Equipment), Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 – 2027’, available with MarketStudyReport, global aluminum casting market is expected to observe substantial expansion during the forecast period 2021-2027.

 

The prominent usage of aluminum in the growing automotive sector is the major driving force for aluminum casting market growth. Soaring commercial aircraft deliveries, demand from construction vertical, and usage for industrial tools & equipment are aiding the revenue inflow for the industry.

 

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For the unversed, aluminum casting is a process that involves pouring molten aluminum into a precisely planned and designed mold to create high-quality, high-tolerance components. It is regarded as a cost-effective method for producing complicated, detailed, and comprehensive pieces that meet the original design criteria.

 

To strengthen their market position, leading players are focusing on innovations, which is having a beneficial impact on the business scenario. For instance, Tesla, the electric vehicle (EV) colossus, has revealed intentions to begin limited production of its Model Y, as well as plans to use Idra's Giga Press for die casting significant portions of its EVs.

 

Based on the process, aluminum casting market is segmented into sand casting, die casting, and others (permanent mold casting, investment casting). Of these, the others segment is likely to expand at a CAGR of 7.2% over the study period. 

 

By application, the market is classified into transportation, industrial tools & equipment, building & construction, and others (medical devices, cookware, and firearms). Over the research period, the others application category is expected to grow at 6.4% CAGR.

 

The regional scope of the market includes North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In terms of revenue, Latin American accounts for about 7.5% industry share at present and is expected to reach a significant valuation by the year 2027. Reviving economies of Brazil and Mexico, along with growth consolidation in other nations, including Argentina, Chile, Peru, and Colombia, is expected to drive regional market development over the coming years.

 

The competitive landscape of worldwide aluminum casting market is defined by companies like Ryobi Ltd., Dynacast LLC, Bodine Aluminum Inc., Rockman Industries, Endurance Technologies Ltd., Aluminium Corporation of China Ltd., Consolidated Metco Inc., Concast Metal Products Co., Nemak S.A.B. de C.V., Aerostar Corporation, Alcoa Corporation, Rajshi Industries India Pvt. Ltd., Hokare Machinery, and Alconic SRL among others.