Key Trends as a Decision Maker You Absolutely Need to Know about the “Die Casting” Market
The global Die Casting market is projected to reach US$94.1 billion by 2025, driven by the growing demand for lightweight yet high performance components in industries ranging from electronics, lighting, automotive, aircraft, telecommunications, medical equipment, and hydraulics, among others.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Die Casting market. Report segmentation includes End-Use (Automotive, Industrial Machinery, Other End-Uses); Production Process (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, Other Production Processes).
21 June 1:58 A.M., California/Marketwire/ - According to the new market research report, the global Die Casting market is projected to reach US$94.1 billion by 2025, driven by the growing demand for lightweight yet high performance components in industries ranging from electronics, lighting, automotive, aircraft, telecommunications, medical equipment, and hydraulics, among others. Die Casting, over the decades, has emerged into a widespread and extremely popular metal forming and processing process for producing metal parts. Defined as a process wherein molten metal is poured into a die-casting mold using high pressure, die-casting offers numerous advantages such as enabling high-speed production; ability to produce complex geometric shapes with precision; eliminates the need for machining; reduces material wastages; high degree of dimensional accuracy and stability; die-cast parts are heat resistant and have higher mechanical strength than plastic injection moldings; enables smooth or textured metal finishing; ability to be easily electroplated with little or no surface preparation; simplifies the assembly line process as fastening elements can be cast into the mold; the process offers consistent quality and is repeatable; and longer durability and lifespan of components.
The scenario is creating opportunities for new uses and applications of die-cast parts and components. The automotive industry stands out as a major end-user of die-cast parts given the massive engineering focus shed on lightweighting. The most important advantage of die cast parts is that they have thinner walls, are stronger and lightweight. Since die cast parts are molded into a single piece they have no welded joints or fasteners and thereby are significantly lighter in weight. This special feature is of immense value in the automotive industry where vehicle lightweighting is the prevailing engineering theme. Volume of aluminum die cast parts in an average automobile is increasing. Traditional cast iron engine blocks are increasingly being replaced by aluminum die-cast blocks. Material developments surrounding aluminum alloy today offers high strength in addition to weighing over 60% less than cast iron engine block. Continued R&D and advancements being made in aluminum alloy metallurgy such as Al-Si-Cu-Mg-Fe alloy will help expand its use to engineered components in the axle products and structural components.
The rise of Industry 4.0 is spilling over into the die-casting market as Foundry 4.0 begins to emerge to change the competiveness of the metal processing industry. Metal foundries are increasingly investing in automating the die-casting process to reduce defects and meet cost and quality standards of end-use applications in the era of smart electronics; smart homes; smart cars; and smart medical devices. Foundry 4.0 involves the use of big data and IoT to monitor proper functioning of machines and prevent defects in production. Die-casting is typically, a high-stakes industry where defects in die-cast components can result in liability issues, profit and customer losses and irreversible damage to the brand. The scenario highlights the transformation of the die-casting industry as it prepares for the slew of opportunities expected to come its way. China ranks as the largest and fastest growing market with a 37.6% share and a 9.1% CAGR over the analysis period supported by the growing domestic automobile and consumer electronics industries coupled with the rapid expansion of mechanical and plant engineering sectors.
Key Competitors Covered in the Report
Endurance Technologies Limited
Form Technologies, Inc.
GF Casting Solutions AG
Gibbs Die Casting Corp.
Hitachi Metals, Ltd.
Martinrea Honsel Germany GmbH
Sigma Electric Manufacturing Corp.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 962. Among this pool, 192 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 38 unique participations, a total of 17 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.