Aluminum Casting Market Overview
The Aluminum Casting
Market size is forecast to reach US$80.5 billion by 2026, after growing at a
CAGR of 5.7% during 2021-2026. Casting is the process used to form aluminum
into useful products across various end-use industry applications. Aluminum
casting based items as power transmissions and car engines all produced through
the aluminum casting process. In addition, the increased use of aluminum
products in transportation applications is also expected to drive market growth
during the forecast period. Similarly,
the growing demand for and environment friendly vehicles will provide
market players with a lucrative opportunity. The technique of pouring molten
aluminum alloy into a sand mold chamber is known as aluminum sand casting. Die
casting, on the other hand, is a casting method for aluminum components which is
also known as Permanent Mold Casting.
COVID-19 Impact
Supply lines
were disrupted, and building and construction projects were delayed all across
the world as a result of the COVID-19 pandemic. Most countries enacted
stringent lockdowns and curfews to prevent the spread of the coronavirus. Due
to a scarcity of raw materials, labor, and government regulations that
compelled ongoing projects to be suspended, this resulted in an economic
depression, with construction being one of the hardest-hit sectors. While, in
the third quarter of 2020, several local governments took steps to restart
road, highway, and building construction projects. After April 2020, Germany's
Federal Ministry of Transport and Digital Infrastructure (BMVI) have resumed
building and road construction. Since the second half of 2020, countries such
as Romania and India have resumed highway and road building. Although other
infrastructure sectors were hit hard by the pandemic, the highway sector had a
stellar year in 2020-21. A total of 13,298 km of highways were constructed in
the fiscal year, compared to around 10,240 km in FY20, a 30 percent rise year
over year and a speed of 36.4 km/day. As a result, when compared to the
previous year, the construction sector is projected to expand rapidly in 2021.
Report Coverage
The report: “Aluminum Casting Market – Forecast (2021-2026)”,
by IndustryARC, covers an in-depth analysis of the following segments of
the Aluminum Casting Market.
By Type: Die Casting, Permanent Mold Casting, and Other
By Application: Building
and Construction (Residential,
Commercial, and Industrial), Automotive and
Transportation, Energy and Power, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany,
Italy, France, Spain, Russia, Netherlands, Belgium, and Rest of Europe), APAC
(China, India, Japan, South Korea, Australia and New Zealand, Indonesia,
Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina,
Colombia, Chile, and Rest of South America), and Rest of the World (Middle East
and Africa).
Key Takeaways
- Asia-Pacific dominates the Aluminum Casting Market, owing to the increasing road construction activities in APAC countries. For instance, road work worth Rs. 30000 crore (around US$4.0 billion) is under construction in Bihar, India. A total of Rs. 4600 crore (around US$621.8 million) has been set aside as reimbursement for land acquisitions.
- Casting is an industrial method of pouring liquid material into a mold, which contains a hollow cavity of the desired shape, and then allowed to solidify. In wind turbines, the primary parts that undergo casting are rotor hubs, rotor blades, axle pins, and rotor shaft.
- Future market opportunities are expected to include rising demand for HMA (Hot Mix Asphalt), the rising popularity of reclaimed asphalt pavement (RAP), production of bio-renewable modifiers, advancement of hot mix asphalt technologies, and research into using nanotechnology in asphalt modification (nano-clay).
- The market growth is likely to be impeded by high initial costs for the use of modified asphalt cement and occupational health hazards concerning asphalt.
Figure: Asia-Pacific Aluminum Casting Market Revenue, 2020-2026 (US$ Billion)
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Aluminum Casting Market Segment Analysis – By Type
The warm mix
asphalt segment held a significant share in the Aluminum Casting Market in 2020
and is growing at a CAGR of 6.1% during 2021-2026. Due to growing concern about
environmental issues such as global warming and carbon footprint, the asphalt
industry incentive to minimize greenhouse gas emissions has increased. This
has prompted the development of Warm Mix Asphalt (WMA) and related
technologies, which aim to reduce greenhouse gas emissions by lowering asphalt
mix mixing and compaction temperatures. WMA has grown in favor as a result of
the environmental benefits it provides without sacrificing the asphalt mix's
qualities, performance, or quality. WMA is made at much lower temperatures
(just around 100°C), resulting in decreased energy usage, fewer emissions,
reduced aging, lower mixing and compaction temperatures, cold weather paving,
and improved mix workability. The introduction of chemicals into WMA is
responsible for the latter of these advantages. In comparison to traditional
Hot Mix Asphalt (HMA) processes, WMA perform better, owing to which it is
seeing a significant increase in its demand.
Aluminum Casting Market Segment Analysis – By Application
The building and
construction segment held the largest share in the Aluminum Casting Market in
2020 and is growing at a CAGR of 8.6% during 2021-2026. Casting materials are
used in residential buildings to provide better construction and high-quality
control standards along with the low cost. Applications of casting materials in
residential buildings include precast concrete panels/roofs, precast walls,
floors & staircases and many more. With growing residential urbanization
along with the development and expansion of more modern housing stock, precast
construction is anticipated to experience high growth in the near future. Additionally,
rising standards of living as well as aging demography has a direct impact on
the type of construction done, which demands high quality and precision along
with low cost in construction work. To improve the durability of residential
and commercial buildings, aluminum products are used to increase resistance to
pavement discomfort, such as thermal cracking, rutting, stripping, and more,
thus prolonging the service life. The enhancement of the road transport network
and the upgrading of highway maintenance operations are projected to take place
during the forecast timeframe to satisfy the additional demand, thus increasing
the demand for aluminum based products.
Aluminum Casting Market Segment Analysis – By Geography
Asia-Pacific
region held the largest share of more than 40% in the Aluminum Casting Market
in 2020 and is growing at a CAGR of 6.4% during 2021-2026, because of the
various government's drive for infrastructure spending as a way of maintaining
economic development; the road and highway construction industry has grown
rapidly. The Asia-Pacific government's substantial expansion of building
and construction and infrastructure to withstand the expanding manufacturing
and service sectors has contributed to significant growth in the construction
sector in recent years. In February 2019, In Himachal Pradesh, India, the Union
Minister for Road Transport and Highways laid the foundation stones for seven
National Highway projects worth Rs 4,419 crore (US$627.5 million). Several new
road projects are being planned in China’s Yunnan Province and Guizhou
Province. A new expressway will connect Chengjiang and Huaning, featuring a
design speed of 100km/h. The 63.3km expressway project will cost an estimated
US$1.86 billion. Thus, it is expected that such investment and growth will
drive the demand for aluminum products in the Asia-Pacific region.
Aluminum Casting Market Drivers
Growing Road Network Construction Projects in Developing Countries
In the developing region, road building and growth activities are
projected to increase significantly. The demand for adhesion promoters, flux
oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt
additives in these nations is projected to be driven by increasing road and
highway building activities. The increase in expenditure on infrastructure in various
countries can be attributed to the increasing construction of roads and
highways for improved transportation and enhanced connectivity between
important economic centers in these countries. For instance, according to India
Brand Equity Foundation, the infrastructure sector has become one of the
major focus areas for the Indian government. In the Union Budget 2020-21, the
Indian government announced US$13.1 billion for road and highway construction.
In March 2021, the project to rebuild an important road stretch has been
awarded in Spain. The package of works is worth €244 million (US$293.8 million)
and is for a 70km section of the A4 highway. In May 2021, Brazil announced a
major new highway deal. Improvements to the route are expected to total US$1.42
billion. It is estimated that new road projects will strengthen the
road network in both urban and rural areas, which would fuel the demand for
asphalt modifiers.
Advantages of Aluminum casting drive the market growth
Aluminum’s
strength, corrosion resistance, and heat dissipating properties offer
mechanical designers significant advantages. Furthermore, aluminum based
products offer various benefits like High operating temperatures, Outstanding
corrosion resistance, Lightweight, Very good strength and hardness, Good
stiffness and strength-to-weight ratio, Excellent EMI and RFI shielding
properties, Excellent thermal conductivity, High electrical conductivity, Good
finishing characteristics, and Full recyclability. The various advantages of
aluminum makes them suitable to uses across various end-use industries like automotive,
construction, and energy, which in turn drive the market growth.
Aluminum Casting Market Challenges
High Cost of Casting:
High cost of the
Casting coupled with low acceptance levels and lack of awareness among the
people hinders the market growth. The high equipment costs and also the high
risk of pressure sores or syndrome would serve as restrictions on Casting
growth. Moreover, number of people demanding is not receiving the efficient
services owing to the lack of awareness of services and belief about disability
that influence the treatment seekers. Furthermore, middle-income countries are
predicted to hamper the markets growth owing to their lower income profile and
escalating cost of the Casting.
Aluminum Casting Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Aluminum Casting Market. Major players in the Aluminum Casting Market are:
- Arrmaz
- Arkema SA
- BASF Corporation
- Honeywell International Inc.
- Huntsman Corporation
- Kao Corporation
- Ingevity Corporation
- Kraton Corporation
- Nouryon
- Dupont De Nemours Inc.
- Sasol Limited.
Acquisitions/Technology Launches
In February 2021, NEWTLAC 5000,
a patented asphalt modifier made from recycled PET materials (waste PET), was
developed by Kao Corporation. Although traditional asphalt modifiers increase
pavement durability, NEWTLAC 5000's durability is many times greater, resulting
in less microplastic output.
Relevant Reports
High Pressure Die
Casting Market– Forecast (2021 - 2026)
Report Code: AM 75064
Wind Turbine
Casting Market – Forecast (2021 - 2026)
Report Code: EPR 90775
For more Chemical and Materials related reports, please click here
LIST OF TABLES
1.Global Aluminum Casting Market:Product Estimate Trend Analysis Market 2023-2030 ($M)1.1 Aluminum Casting Demand By Process Market 2023-2030 ($M) - Global Industry Research
1.1.1 Market Estimate Forecast Market 2023-2030 ($M)
1.2 Die Casting Market 2023-2030 ($M) - Global Industry Research
1.3 Permanent Mold Casting Market 2023-2030 ($M) - Global Industry Research
2.Global Aluminum Casting Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
2.1 Aluminum Casting Demand By End-Use Process Market 2023-2030 ($M) - Global Industry Research
2.2 Transportation Market 2023-2030 ($M) - Global Industry Research
2.3 Industrial Market 2023-2030 ($M) - Global Industry Research
2.4 Building And Construction Market 2023-2030 ($M) - Global Industry Research
3.Global Aluminum Casting Market:Product Estimate Trend Analysis Market 2023-2030 (Volume/Units)
3.1 Aluminum Casting Demand By Process Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Market Estimate Forecast Market 2023-2030 (Volume/Units)
3.2 Die Casting Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Permanent Mold Casting Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Aluminum Casting Market:Application Estimate Trend Analysis Market 2023-2030 (Volume/Units)
4.1 Aluminum Casting Demand By End-Use Process Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Transportation Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Industrial Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Building And Construction Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Aluminum Casting Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
5.1 Aluminum Casting Demand By Process Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Market Estimate Forecast Market 2023-2030 ($M)
5.2 Die Casting Market 2023-2030 ($M) - Regional Industry Research
5.3 Permanent Mold Casting Market 2023-2030 ($M) - Regional Industry Research
6.North America Aluminum Casting Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
6.1 Aluminum Casting Demand By End-Use Process Market 2023-2030 ($M) - Regional Industry Research
6.2 Transportation Market 2023-2030 ($M) - Regional Industry Research
6.3 Industrial Market 2023-2030 ($M) - Regional Industry Research
6.4 Building And Construction Market 2023-2030 ($M) - Regional Industry Research
7.South America Aluminum Casting Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
7.1 Aluminum Casting Demand By Process Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Market Estimate Forecast Market 2023-2030 ($M)
7.2 Die Casting Market 2023-2030 ($M) - Regional Industry Research
7.3 Permanent Mold Casting Market 2023-2030 ($M) - Regional Industry Research
8.South America Aluminum Casting Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
8.1 Aluminum Casting Demand By End-Use Process Market 2023-2030 ($M) - Regional Industry Research
8.2 Transportation Market 2023-2030 ($M) - Regional Industry Research
8.3 Industrial Market 2023-2030 ($M) - Regional Industry Research
8.4 Building And Construction Market 2023-2030 ($M) - Regional Industry Research
9.Europe Aluminum Casting Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
9.1 Aluminum Casting Demand By Process Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Market Estimate Forecast Market 2023-2030 ($M)
9.2 Die Casting Market 2023-2030 ($M) - Regional Industry Research
9.3 Permanent Mold Casting Market 2023-2030 ($M) - Regional Industry Research
10.Europe Aluminum Casting Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
10.1 Aluminum Casting Demand By End-Use Process Market 2023-2030 ($M) - Regional Industry Research
10.2 Transportation Market 2023-2030 ($M) - Regional Industry Research
10.3 Industrial Market 2023-2030 ($M) - Regional Industry Research
10.4 Building And Construction Market 2023-2030 ($M) - Regional Industry Research
11.APAC Aluminum Casting Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
11.1 Aluminum Casting Demand By Process Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Market Estimate Forecast Market 2023-2030 ($M)
11.2 Die Casting Market 2023-2030 ($M) - Regional Industry Research
11.3 Permanent Mold Casting Market 2023-2030 ($M) - Regional Industry Research
12.APAC Aluminum Casting Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
12.1 Aluminum Casting Demand By End-Use Process Market 2023-2030 ($M) - Regional Industry Research
12.2 Transportation Market 2023-2030 ($M) - Regional Industry Research
12.3 Industrial Market 2023-2030 ($M) - Regional Industry Research
12.4 Building And Construction Market 2023-2030 ($M) - Regional Industry Research
13.MENA Aluminum Casting Market:Product Estimate Trend Analysis Market 2023-2030 ($M)
13.1 Aluminum Casting Demand By Process Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Market Estimate Forecast Market 2023-2030 ($M)
13.2 Die Casting Market 2023-2030 ($M) - Regional Industry Research
13.3 Permanent Mold Casting Market 2023-2030 ($M) - Regional Industry Research
14.MENA Aluminum Casting Market:Application Estimate Trend Analysis Market 2023-2030 ($M)
14.1 Aluminum Casting Demand By End-Use Process Market 2023-2030 ($M) - Regional Industry Research
14.2 Transportation Market 2023-2030 ($M) - Regional Industry Research
14.3 Industrial Market 2023-2030 ($M) - Regional Industry Research
14.4 Building And Construction Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Aluminum Casting Market Revenue, 2023-2030 ($M)2.Canada Aluminum Casting Market Revenue, 2023-2030 ($M)
3.Mexico Aluminum Casting Market Revenue, 2023-2030 ($M)
4.Brazil Aluminum Casting Market Revenue, 2023-2030 ($M)
5.Argentina Aluminum Casting Market Revenue, 2023-2030 ($M)
6.Peru Aluminum Casting Market Revenue, 2023-2030 ($M)
7.Colombia Aluminum Casting Market Revenue, 2023-2030 ($M)
8.Chile Aluminum Casting Market Revenue, 2023-2030 ($M)
9.Rest of South America Aluminum Casting Market Revenue, 2023-2030 ($M)
10.UK Aluminum Casting Market Revenue, 2023-2030 ($M)
11.Germany Aluminum Casting Market Revenue, 2023-2030 ($M)
12.France Aluminum Casting Market Revenue, 2023-2030 ($M)
13.Italy Aluminum Casting Market Revenue, 2023-2030 ($M)
14.Spain Aluminum Casting Market Revenue, 2023-2030 ($M)
15.Rest of Europe Aluminum Casting Market Revenue, 2023-2030 ($M)
16.China Aluminum Casting Market Revenue, 2023-2030 ($M)
17.India Aluminum Casting Market Revenue, 2023-2030 ($M)
18.Japan Aluminum Casting Market Revenue, 2023-2030 ($M)
19.South Korea Aluminum Casting Market Revenue, 2023-2030 ($M)
20.South Africa Aluminum Casting Market Revenue, 2023-2030 ($M)
21.North America Aluminum Casting By Application
22.South America Aluminum Casting By Application
23.Europe Aluminum Casting By Application
24.APAC Aluminum Casting By Application
25.MENA Aluminum Casting By Application
26.Alcoa Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Consolidated Metco, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Dynacast, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Gibbs Die Casting Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Ryobi Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Bodine Aluminum, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Martinrea Honsel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Aluminum Corporation Of Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Alcast Technology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Endurance, Sales /Revenue, 2015-2018 ($Mn/$Bn)