The growing automotive industry in Japan, China, India, and South Korea to drive die-casting market in Asia Pacific.
The global die-casting market size is likely to attain over USD 100 billion by the year 2028. Besides, it is likely to project a CAGR of more than 6% during the forecast years 2021-2028. Die casting market expansion is fueled by factors such as the rising demand for light weight automobiles and the increased usage of high pressure die casting as a result of technical advances. Furthermore, several automotive component manufacturers employ aluminium die casting equipment to make lightweight aluminium cast parts that are utilised in the construction of automobiles. Die casting is in high demand because to the rising trend of creating light weight metals in the automotive sector, as well as the increase in vehicle sales.
Single cavity, multiple cavity, and combination dies are the different types of dies. This method is used to make surface alloy and metal pieces that are precisely dimensioned, defined, smooth, and textured. Chassis, air valve, flywheel & bracket, smart locks, and vehicle appliances are examples of metal parts.
Automobiles are increasingly made of polymers and non-ferrous materials. Aluminum alloys, which are mainly created utilising the high pressure die casting technique, now make up approximately 30-35 percent of vehicle components. An automobile's electrical and hydraulic components function in tandem. Transmission parts place a premium on dependability and quality. A car's transmission system is a complicated collection of mechanical operations. It is vulnerable to severe weather and surroundings. This emphasises the need of honesty. In the automobile sector, die-cast transmission parts include valve bodies, stators, and clutch pistons.
However, the demand for die casting industry may be hampered by variable raw material prices. Furthermore, throughout the projected period, technological developments in die casting machines are likely to provide attractive growth prospects for the die casting market. For example, Italpresse Gauss, a subsidiary of Norican, released two energy-saving solutions in January 2018, dubbed ECO-FIT Mode and ECO-FIT Plus. To minimise machine energy usage, these solutions are incorporated into modern die casting cells.
The report also emphasizes several distinctiveness of the global die-casting industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the die-casting industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The major players of the global die-casting market are Form Technologies Inc., Nemak, Endurance Technologies, Sundaram Clayton Ltd, Shiloh Industries, Georg Fischer Limited, Koch Enterprises, Bocar Group, Engtek Group, Rheinmetall AG , Rockman Industries, Ryobi Die Casting Ltd, Linamar Corporation, Meridian Lightweight Technologies UK Ltd, and Sandhar Group. To fit in the stringent government regulations, many companies push their boundaries and increasingly investing in research and development activities.
Key Segments of the Global Die-Casting Market
Type Overview, 2019-2028 (USD Million)
- Pressure Die Casting
- Vacuum Die Casting
- Squeeze Die Casting
- Semi-Solid Die Casting
Application Overview, 2019-2028 (USD Million)
- Electrical and Electronics
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America