|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The die casting market is valued at USD 65.5 billion in 2020 and is anticipated to reach USD 93.9 billion by 2026, at a CAGR of about 6.19% during the forecast period.
The outbreak of COVID-19 and the subsequent shutdowns have affected the die casting sector in several countries. The negative impacts of the pandemic are visible in the global manufacturing sector in the first half of 2020. Hence, the reduction in production rates due to the pandemic-induced disruptions affected the growth of the market during the initial few months at the starting of the year but after the restrictions were lifted the market gained its lost momentum by the end of 2020.
The market studied is largely driven by supply chain complexities in the die casting industry, the expanding automotive market, increasing penetration of die casting parts in industrial machinery, the growing constructional sector, and employing aluminum casts in electrical and electronics.
The CAFÉ standards and EPA policies to cut down automobile emissions and increase fuel efficiency are driving the automakers to reduce weight of the automobile by employing lightweight non-ferrous metals. Subsequently, employing die-cast parts as a weight reduction strategy is acting as a major driver for the former market in automotive segment.
However, crunch in raw material supply, volatility in raw material prices, and environmental regulations on emission for the metallurgy industries are acting as major barriers for the market growth.
Scope of the Report
Die casting is an automated casting process for producing metal parts of a particular shape are produced by forcing molten material into a mold under pressure. The global die casting market is segmented by Process (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, and Others), by Application (Automotive, Electrical & Electronics, Industrial Appliances, and Others), by Raw Material (Aluminum, Magnesium, and Zinc), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa ). For each segment, the market sizing and forecasts have been done on the basis of value (USD billion).
|Electrical and Electronics|
|Pressure Die Casting|
|Vacuum Die Casting|
|Squeeze Die Casting|
|By Raw Material|
Key Market Trends
Automotive Application Leads the Market
Polymers and non-ferrous materials accounted for over 40% of the total materials used in an automobile, as of 2020. In the present scenario, nearly 30-35% of the auto components in a vehicle are made of aluminum alloys, which are mostly developed using high pressure die casting process.
Electrical and hydraulic components in an automobile work simultaneously. Reliability and quality are given prime importance in transmission parts. The transmission system in an automobile is a complex combination of mechanical functions. It is prone to extreme conditions and environments. This enhances the importance of integrity. Valve bodies, stators, and clutch pistons are some of the commonly die-casted transmission parts in the automotive industry.
The automobile manufacturers, globally, are using lightweight magnesium and magnesium alloys to reduce the overall vehicle weight, and in turn, improve the fuel economy. Magnesium is a viable alternative to steel, aluminum, and other structural materials, and has certain attractive properties. It is 36% lighter per unit volume than aluminum and 78% lighter than steel. When alloyed, magnesium has the highest strength-to-weight ratio among all structural metals. Many interior components, such as steering column brackets and steering wheel armatures, are made of magnesium
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Asia-Pacific will Dominate the Die Casting Market
The growing automobile industry, India and China emerging as cost-effective die casting manufacturing hubs, demand from the industrial sector, and increased scope of application in windmills and telecommunications are expected to drive the die casting market at a faster pace in the Asia Pacific region.
With the growth in automotive lighting and energy-saving trends, expanding the industrial and manufacturing sector, the die casting market grew substantially in the Asia-Pacific region. Cheaper labor and low manufacturing costs in India and China further propelled the market growth in these countries. During the past two decades, small privately run factories in this region have become much competitive and professional in producing die-cast components.
Thailand is emerging as a major automobile exporting country, driven by Japanese FDI. Chinese manufacture sector is growing very fast and is poised to make its dent in the international trade arena. India is consolidating its position with strong domestic and external demand for high-quality die-cast components at lower prices. All these factors together are driving the market for die casting parts market in the Asia-Pacific region.
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The global market for die casting is highly fragmented, with many regional small- and medium-scale players from the developing countries entering the market.
Major recognized players, such as Nemak, Georg Fischer Automotive, Ryobi Die Casting, Rheinmetall AG, Form Technologies Inc. (Dynacast), and Shiloh Industries, together accounted decent shared in the overall global market share.
These key players have focused their revenues on R&D to come up with better production processes and alloys. This strategy may assist in the production of premium quality die-cast parts for the global automotive and industrial sectors. Key players have also expanded their presence, globally, through various mergers, expansions, partnerships, joint ventures, and acquisitions.
In February 2021, Endurance Technologies announced that it has started commercial production at the new plant in Kancheepuram, Tamil Nadu, India. The plant will manufacture aluminum die-castings and integration of disc brake components for two and four-wheelers.
In August 2020, Nemak, S.A.B. de C.V. announced that shareholders of ALFA S.A.B. de C.V. have approved a proposal to transfer ALFA’s entire share ownership in Nemak to a new entity.
In January 2020, Nemak announced that it may supply battery housing for the newly launched Ford Mustang Mach-E car, which is manufactured in North America. The battery housing consists of a 2.2*1.5-meter structure of aluminum parts, mainly stampings and extrusions. These parts are joined by robotic welding, adhesive application, and a self-piercing riveting process.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.2 Electrical and Electronics
5.1.3 Industrial Applications
5.2 By Process
5.2.1 Pressure Die Casting
5.2.2 Vacuum Die Casting
5.2.3 Squeeze Die Casting
5.3 By Raw Material
5.4.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Form Technologies Inc. (Dynacast)
6.2.3 Endurance Technologies
6.2.4 Sundaram Clayton Ltd
6.2.5 Shiloh Industries
6.2.6 Georg Fischer Limited
6.2.7 Koch Enterprises (Gibbs Die Casting Group)
6.2.8 Bocar Group
6.2.9 Engtek Group
6.2.10 Rheinmetall AG (Rheinmetall Automotive, formerly KSPG AG)
6.2.11 Rockman Industries
6.2.12 Ryobi Die Casting Ltd
6.2.13 Linamar Corporation
6.2.14 Meridian Lightweight Technologies UK Ltd
6.2.15 Sandhar Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Die Casting Market market is studied from 2018 - 2026.
What is the growth rate of Die Casting Market?
The Die Casting Market is growing at a CAGR of 6.19% over the next 5 years.
What is Die Casting Market size in 2018?
The Die Casting Market is valued at 65.5 Billion USD in 2018.
What is Die Casting Market size in 2026?
The Die Casting Market is valued at 93.9 Billion USD in 2026.
Which region has highest growth rate in Die Casting Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Die Casting Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Die Casting Market?
Nemak, Rheinmetall Automotive AG, Ryobi Die Casting, Inc., GF Casting Solutions, Shiloh Industries are the major companies operating in Die Casting Market.