(MENAFN- GlobeNewsWire - Nasdaq) Advancements in Casting Technologies and Additive Manufacturing Integration Driving the Market at 8% CAGR, Reaching ~$102 Billion by 2029Dublin, Jan. 28, 2025 (GLOBE NEWSWIRE) -- The "Aluminum Casting Market Report 2025" has been added to ResearchAndMarkets.com's offering.
This Aluminum Casting market report covers market characteristics, size & growth, segmentation, regional & country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The aluminum casting market size has grown strongly in recent years. It will grow from $69.78 billion in 2024 to $75 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rapid economic growth, increased infrastructure spending, growing demand for sustainable and eco-friendly construction materials, increased urbanization, rise in industrialization.
The aluminum casting market size is expected to see strong growth in the next few years. It will grow to $101.95 billion in 2029 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to increase in the production of electric vehicles, renewable energy infrastructure, increased focus on circular economy, growing demand for lightweight and easy-to-install construction materials, infrastructure development. Major trends in the forecast period include advancements in casting technologies, additive manufacturing integration, advancements in alloy development, customization and design complexity, digitalization in casting simulation.
The automotive industry's burgeoning demand fuels expansion in the aluminum casting market. The rising demand in the construction sector is anticipated to drive the growth of the aluminum casting market in the future.
Partnerships between companies are emerging as a significant trend in the aluminum casting market. For example, in September 2024, Constellium SE, a UK-based company specializing in aluminum products and solutions as well as aluminum recycling, formed a partnership with TESEM Group, a Spain-based manufacturer of metal luxury packaging, to promote sustainable aluminum manufacturing through a project called "Closing the Loop." This collaboration aims to establish a closed-loop system for recycling high-purity aluminum. TESEM has invested in upgrading its equipment to efficiently clean and process aluminum scrap. Additionally, the R&D teams from both companies have collaborated to ensure that the scrap meets strict quality standards and to modify casting parameters to accommodate larger quantities of recycled material.
Prominent players within the aluminum casting market are strategically focusing on expanding their facilities to cater to escalating demand and drive revenue growth. An exemplar is Kingston Metals & Materials Inc. (KM&M-Aluminum), a US-based entity specializing in specialty aluminum alloys, products, and processes. In July 2023, the company initiated operations at a new aluminum facility located in Kingston, ON, Canada. KM&M-Aluminum integrates cutting-edge equipment, comprehensive analysis, and decades of expertise to create specialized aluminum alloys and products using advanced aluminum casting methodologies, consolidating these elements into a singular operational hub.
In February 2024, ADC Aerospace, a US-based company specializing in precision die-casting products, acquired Cast Rite Metal Company for an undisclosed amount. This acquisition is aimed at enhancing the quality and scope of ADC Aerospace's product offerings while increasing its market penetration. By leveraging the existing manufacturing capabilities of Cast Rite Metal, ADC Aerospace seeks to drive growth in critical applications across various industries. Cast Rite Metal Company is recognized for its advanced die-casting and fabrication services, manufacturing both zinc and aluminum alloy die castings, and providing engineering, tooling, and other value-added operations.
Asia-Pacific was the largest region in the aluminum casting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aluminum casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aluminum casting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Report Scope
Markets Covered:
1) By Process: Die Casting; Sand Casting; Permanent Mold Casting
2) By End-User: Transportation Sector; Building and Construction Sector; Industrial Sector; Other End-Users
Subsegments:
1) By Die Casting: High-Pressure Die Casting; Low-Pressure Die Casting; Vacuum Die Casting
2) By Sand Casting: Green Sand Casting; Resin Sand Casting; Shell Mold Casting
3) By Permanent Mold Casting: Gravity Permanent Mold Casting; Pressure Permanent Mold Casting
Key Companies Profiled: Alcoa Corporation; Aluminum Corporation of China Limited; Alcast Technologies Ltd.; Bodine Aluminum Inc.; Consolidated Metco Inc.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
CONTACT:
CONTACT:
Laura Wood,Senior Press Manager
...
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Comments
No comment