South Korea Automotive Parts Aluminium Die Casting Market Size

South Korea Automotive Parts Aluminium Die Casting Market Analysis

The South Korea automotive parts aluminium die casting market is expected to register a CAGR of over 13% during the forecasted period (2020 - 2025)

• To meet the emissions regulations and policies OEMs are trying to reduce weight of automobiles by employing lightweight non-ferrous metals. Using aluminium die casting parts has been adapted as the main strategy.
• With the increasing pollution levels around the world, carmakers are looking for lightweight components for reducing fuel consumption and curbing the emission of harmful pollutants into the atmosphere. Aluminium provides weight saving up to 50% compared to the traditional mild steel structure. Aluminium has equal or more superior strength and absorbs twice crash-induced energy. Lowering the vehicle weight will allow downsizing engine, transmission, suspension, and wheels. South Korea has highest per capita consumption of aluminium of 46,7 Kg higher than most of the developed countries because of the growing automotive industry in the country.
• The corrosive property of aluminium ensures optimum life for housings even when exposed to bad weather. In recent times autonomous cars have become increasingly popular. These cars have electromagnetic and electrical components which must be protected, and aluminium die casted housing is promising to provide protection against the external environment. Aluminium is a sustainable and resource-efficient material. It can be recycled; the world average remains 45% (as of May 2020). Aluminium pressure parts are later used in recycling process to form aluminium alloys which have very large applications.