According to the research report titled ‘Asia Pacific Automotive Casting Market Forecast 2027 By Process, By Material, By Application, By Distribution Channel, By Vehicle, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, Asia Pacific automotive casting market is expected to reach USD 93.23 billion by the end of the forecast timeframe.
 

Experts analysts claim that Asia Pacific automotive casting market size expanding rapidly due to surging demand for high-quality automobiles from the burgeoning population. This can be ascribed to adoption of luxurious lifestyles in line with rising disposable income of people.
 

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Elaborating on the Covid-19 impact, the automotive industry took a major hit from the pandemic as authorities started imposing strict lockdowns measures across the region. Restrictions of transportation of various raw materials like steel coils and foam, and workforce hindered manufacturing plants from operating optimally. Also, closing of international borders barred delivery of goods to final vehicles assembly lines, thus, disrupting the entire production and supply chain.
 

However, with the effects of the pandemic declining and cross-border trade resuming, the demand in the automotive market is slated to spike restrictions ease.
 

Based on material, Asia Pacific automotive casting industry is fragmented into iron, aluminum, steel, and others. Iron segment is predicted to grow at an annual rate of 6% through 2027, as iron is the most preferable material among manufacturers since decades for manufacturing various vehicle components like cylinder heads, disc brakes, engine blacks, and crankshafts. This can be ascribed to properties like high wear and tear resistance, superior thermal conductivity, and stiffness provided by grey cast iron and ductile cast iron.
 

In terms of process, the market is categorized into die casting, sand casting, investment casting, and others. Of these, die casting segment accounted for about 60% industry share in 2020 and is touted to generate strong returns in the upcoming years as well. The segment growth is attributable to the extensive use of this casting process for producing components that requires the highest form of surface quality and dimensional accuracy.
 

Moving to vehicle segmentation, the market is split into passenger vehicles, LCVs, HVCs, and two-wheelers. Experts cite that light commercial vehicles segment will garner 6% CAGR through 2027, largely creditable to spike in the demand for transportation of raw materials and other freight due to rapid industrialization.
 

Major players in Asia Pacific automotive casting market sphere are Wolf Group, CFS Foundry, Zetwerk Manufacturing Businesses Pvt. Ltd., Impro Technologies, Bell Foundry Co., Zollern GmbH, Gibbs Die Casting, Ryobi Ltd., and Dynacast.