Die Casting Market worth USD 96.6 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Die Casting Market by Application (Automotive, Electrical and Electronics, Industrial, and Other Applications), by Process (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, and Other Processes), by Raw Materials (Aluminum, Magnesium, and Zinc), by Region – Global Share and Forecast to 2030". The global die casting market size is estimated to grow USD 96.6 billion by 2030 from USD 61.1 billion in 2021, at a CAGR of 5.9% from 2022 to 2030. The automotive industry is one of the significant end-user industries as a majority of the parts manufactured are sourced through the die casting process. Emission standards favoring the production of light vehicles offer new opportunities for players. Also, high-pressure die casting parts play a key role in making vehicle components more efficient, improving fuel economy, and lowering carbon emissions using efficient and cost-optimized aluminum and zinc. Thus, growing environmental awareness and strategies adopted by players in the market to meet standards are anticipated to propel the growth of the die casting market during the forecast period.

Global Die Casting Market Segmentation

The overall die casting market has been segmented into the application, process, raw materials, and region.

• By Application (Automotive, Electrical and Electronics, Industrial, and Other Applications)
• By Process (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, and Other Processes)
• By Raw Materials (Aluminum, Magnesium, and Zinc)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Aluminum, by raw materials, hold the largest market share

The global die casting market is segregated into aluminum, magnesium, and zinc-based on raw materials. The aluminum segment generated the highest revenue of 80.3% of the total global die casting market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. The demand for high-pressure aluminum die casting parts has increased across numerous industrial applications over the past years, as the process manufactures lightweight parts and provides high flexibility for complex shapes.

Moreover, the rising number of acquisitions and partnerships by the major players is likely to further enhance the development in the market. For instance, In April 2021, Jaya Hind Industries announced its technical partnership with KS Huayu Alutech GmbH (KSATAG) to manufacture automotive cylinder blocks and cylinder heads until 2027. The scope of the agreement has also been expanded to cover new parts from Sunrise Industries, such as Electric Vehicles, Structural parts for Chassis, etc.

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Asia Pacific accounts for the largest market share in the die casting market

Based on the regions, the global die casting market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific had the largest market share of 55.7%. China is the major producer of die casting parts in the Asia Pacific, accounting for more than 64.90% of the die casting market share. The COVID-19 pandemic had a mild impact on the country’s automotive production due to trade and travel restrictions imposed worldwide.

The country is the world’s largest manufacturer of vehicles, and to stay competitive in this market, companies invest in expanding their production capabilities. For instance, In March 2020, IKD Co. Ltd announced that it would sign an investment agreement with the Administrative Commission of Liudong New District of Liuzhou city. According to the agreement, IKD will invest CNY 500 million to establish five subsidiaries in Liuzhou.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the die casting market. It also consists of the profiles of leading companies such as Form Technologies Inc. (Dynacast), Sundaram Clayton Ltd., Shiloh Industries, Georg Fischer Limited, Koch Enterprises (Gibbs Die Casting Group), Nemak, Endurance Technologies Limited, Bocar Group, Engtek Group, Rheinmetall AG, Ryobi Die Casting Ltd., Linamar Corporation, Meridian Lightweight Technologies, Sandhar Group, Rockman Industries, and Alcoa Corporation

Browse complete report: https://www.marketstatsville.com/die-casting-market

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