Market Size of South Korea Automotive Parts Zinc Die Casting Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.17 Billion |
| Market Size (2029) | USD 0.22 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Korea Automotive Parts Zinc Die Casting Market Analysis
The South Korea Automotive Parts Zinc Die Casting Market size is estimated at USD 0.16 billion in 2023, and is expected to reach USD 0.21 billion by 2028, growing at a CAGR of greater than 5% during the forecast period (2023-2028).
The automotive industry occupies almost 28% share of zinc die casting usage for applications like inertia disks, retractor gears, etc., followed by the building and hardware sectors. Along with merits like resistance, versatility, toughness, and low cost, zinc die casting produces low-level emissions in air and water.
The market for zinc die-casting machines is expanding due to technological advancement and the rising popularity of high-pressure die-casting, which contribute to the market's expansion. With the development of new technologies, automotive parts have seen advancement and innovation in recent years. Among them, auto component manufacturing using lightweight materials received widespread attention.
Compared to other die-casting parts, zinc die-casting parts are usually equipped with better mechanical properties, like toughness, and offer higher surface finish and lower thermal shock during casting (due to their lower operating temperature).
The market witnesses opportunities in the form of increasing electric vehicle sales, which require a higher density of lightweight components. Major companies like Dynacast focus on identifying affordable raw materials and alloys that offer better durability.
