Dublin--(BUSINESS WIRE)--"By process (die casting, permanent die casting, sand casting), end-use sector (transportation, industry, building and construction) and region (Asia Pacific, Europe, North America, South America, MEA)-ResearchAndMarkets.com has added the "Global Forecast to 2026" report.
The global aluminum casting market is expected to grow from US$70.4 billion in 2021 to US$100.5 billion in 2026, with a compound annual growth rate of 7.4%. Due to increased demand in the automotive, infrastructure, industrial and manufacturing, and consumer goods sectors, the aluminum casting market is growing rapidly.
Die casting is the largest process section in the aluminum casting market
According to the process, the aluminum casting market is divided into die casting, sand casting and permanent casting. The die-casting technology sector occupies a larger market share. Die casting is also expected to become the fastest growing process area. The growth in the die-casting field is attributed to the development of the global automotive industry, as the technology is mainly used to manufacture automotive parts such as engine blocks, wheel gaskets and gearbox housings.
The transportation sector is the largest end-use segment of the aluminum casting market
According to the application, the aluminum casting market is subdivided into the transportation sector, the construction and construction sector, and the industrial sector. The transportation sector leads the market in terms of value and quantity. This growth is attributed to the increasing popularity of light-duty vehicles and the improvement of vehicle fuel efficiency. In addition, the global demand for light-duty vehicles continues to grow, which has led automobile manufacturers to replace steel parts with cast aluminum parts.
The Asia-Pacific region is the largest market in the aluminum casting market
In terms of value, the Asia-Pacific region is expected to become the largest market. The Asia-Pacific region is also expected to grow at the highest compound annual growth rate during the forecast period. The growth in the Asia-Pacific region is due to the efficient supply and demand cycle of the automotive industry, mainly in countries such as China, India and Japan. The cyclical and significant growth of infrastructure development is driving the market in the region. The Asia-Pacific region is also an industrial center with a considerable market scale. Other factors, such as increasing demand for consumer products, aerospace innovation, etc., are expected to support the growth of the regional market during the forecast period.
The aluminum casting market has been segmented according to process, end-use sector and region. This report covers the aluminum casting market and predicts its market size by 2026. It also provides detailed information about the company profile and the competitive strategies adopted by major players to strengthen their position in the aluminum casting market. The report also provides insights into the drivers and constraints, opportunities and challenges of the aluminum casting market.
The report also includes profiles of top manufacturers in the aluminum casting market. The major companies in the aluminum casting market introduced in this report include Alcoa (United States), Ryobi Co., Ltd. (Japan), Aluminum Corporation of China Co., Ltd. (China), Rio Tinto (UK), and RUSAL (Russia). Major players in the industry. Aluminum casting market.
For more information about this report, please visit https://www.researchandmarkets.com/r/1bi273
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900