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 MarketStudyReport, Asia Pacific automotive casting market is anticipated to be worth USD 93.23 billion by the year 2027.
 

Rising demand for premium automobiles, backed by increasing population with surging disposable income, along with technological advancements in automotive sector are favoring Asia Pacific automotive casting market growth.
 

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For the unversed, automotive casting is a significant part of the automotive industry, as diverse components of a vehicle are required to be casted in forms and sizes. Manufacturers benefit from the casting process because it allows them to get the desired design and dimension.
 

As per the report, COVID-19 outbreak has severely hampered the industry outlook, owing to strict lockdown measure across the region which disrupted the entire supply chain as the international borders were closed. However, gradual normalization with relaxed restriction has brought new growth opportunities for the market.
 

In terms of application, Asia Pacific automotive casting industry is divided into brakes & wheels, transmission & suspension, engine, and others. On the basis of distribution channel, the market is bifurcated into aftermarket, and OEM.
 

Based on material, iron segment is predicted to grow at a CAGR of 6% through 2027, owing to widespread usage of metal for casting disc brakes, crankshafts, engine blocks, and cylinder heads for automobile. The material to known to possess properties like greater stiffness, high resistance to wear & tear, and superior thermal conductivity. 
 

In terms of process, the die casting category accounted for 60% market share in 2020 and is anticipated to grow further in the coming years because this casting process is widely used for manufacturing components that demand a higher level of dimensional precision and surface quality.
 

With respect to vehicle type, light commercial vehicle segment share is reckoned to grow at a CAGR of 6% through 2027, owing to booming population and rapid industrialization, leading to increase demand for LCVs for freight and transportation applications.
 

Regionally speaking, India, Japan, and China are investing heavily in automobile parts in order to increase the overall appeal and performance of their manufactured vehicles. Various supportive governments initiatives with encourage the growth of regional market.  
 

The key players in Asia Pacific automotive casting marketplace are WOLF GmbH, CFS Foundry, ZETWERK, Impro Precision Industries Limited, Bell Foundry Company, ZOLLERN GmbH & Co. KG, Gibbs Die Casting Corporation, Ryobi Limited, and Dynacast, Inc.