As per 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 estimated to amass a valuation of USD 93.23 billion by 2027.  

High disposable income, rising population, and increasing demand for luxurious automobiles are the major factors fueling Asia Pacific automotive casting market growth.

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Furthermore, escalating regional government investments to improve automotive production capacities will foster industry expansion in the forthcoming years.

On the downside, the onset of the Covid-19 pandemic caused a significant slump in market remuneration due to strict lockdown mandates in the region with restricted movement and supply of raw materials as well as shortage of labor. However, steadily mending economy is likely to aid industry players to recover their losses during the forecast period.

Based on material, the iron segment is likely to record a healthy CAGR of 6% through the analysis timeframe, owing to extensive utilization of the various forms of iron in automotive parts such as brakes, crankshafts, engine blocks, and cylinder blocks due to properties like stiffness, higher thermal conductivity, and resistance to wear & tear.

Considering process, the die casting segment accounted for nearly 60% share in Asia Pacific automotive casting industry in 2020 and is expected to continue witnessing an upward growth trend through 2027, as the process enables high tensile strength, greater dimensional accuracy, and surface quality required for manufacturing automotive components.

Speaking of vehicles, the light commercial vehicles segment is anticipated to register a stable CAGR of 6% through 2027, on account of robust industrialization, and growing demand for lightweight vehicles in the region. Flourishing transportation sector for freight of raw material and finished products from one location to another will also stimulate the market outlook.

By application, the industry is classified into brakes & wheels, transmission & suspension, engine, and others. While different distribution channels studied are aftermarket, and OEM (original equipment manufacturer).

The competitive framework of Asia Pacific automotive casting marketplace is mainly influenced by prominent players such as Zetwerk, Impro Precision Industries Ltd., Wolf GmbH, Bell Foundry Company, Gibbs Die Casting Corporation, Ryobi Die Casting Inc., CFS Foundry, Zollern GmbH, and Dynacast International Inc.