Reports and Data’s latest research study on the Aluminium Die Casting market gives a thorough analysis of it. In this report, the global Aluminium Die Casting market is analyzed historically and currently to assess its potential future development. In order to identify opportunistic business opportunities for stakeholders, the study provides detailed information on the key growth factors, restraints, and key trends that are paving the way for future growth in the Aluminium Die Casting market.
The market value for global Aluminum Die Casting Market was USD 83 Billion in 2022 and is expected to reach USD 165.92 Billion in 2032 growing at a CAGR of 8% during the forecast period. The rise in demand for strong, Lightweight Materials in the manufacturing sector is the main factor driving revenue growth.
Due to its many advantages, including its high strength-to-weight ratio, superior corrosion resistance, and great thermal conductivity, aluminum die casting technology is widely utilized in the automotive, aerospace, and construction industries. The rise in market revenue is being driven by the expanding demand for aluminum die casting parts in the automotive sector, particularly in electric vehicles.
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Market Overview:
Different businesses in the chemicals and materials industries differ in size, geography, business style, and end-market focus. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based products as raw materials on one hand and a wide range of application industries on the other. It is traditional to divide the chemical industry into three major categories: petrochemicals, diversified manufacturers, and specialized industries.
While the wider patterns discussed in the previous section apply to the entire sector, the complexities of the distinctions among the various players indicate the need to analyze trends by segment of the industry. As part of its multiverse series, Deloitte classified chemical sector stakeholders into three groups: natural owners, distinctive commodities, and solution providers. Each of these groups usually has its own strategic imperatives. It is common for vertically integrated natural owners to prioritize continuous improvement over innovation when operating their businesses. By focusing on supply chain efficiency, market innovation, and cost optimization, differentiated commodities flourish in a highly fragmented and complex industry. This is exactly what solution providers do: they focus on maximizing the value of their unique products as well as their application expertise and services.
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Moreover, the report provides insight into how the Aluminium Die Casting market will develop between 2023 and 2028. Companies operating in the Aluminium Die Casting market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Aluminium Die Casting market is expected to undergo significant changes that will highly configure its growth.
Furthermore, the report highlights the growth prospects of the Aluminium Die Casting market and estimates market progress in terms of value (USD million) and volume (thousand units).
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Strategic Development:
The major companies in the global Aluminum Die Casting Market are employing various strategies to maintain their market position and increase their market share. Some of the recent strategic developments in the industry are:
- In 2021, GF Casting Solutions acquired Eucasting Ro SRL, a Romanian die casting company specializing in aluminum and magnesium alloys. The acquisition was aimed at strengthening GF Casting Solutions’ position in the European market.
- In 2021, Endurance Technologies Limited acquired the aluminum die casting business of the Indian company Sandhar Technologies Limited. The acquisition was valued at around INR 1.3 billion and aimed to expand Endurance Technologies’ product offerings in the automotive sector.
- In 2020, Nemak announced the opening of a new aluminum die casting plant in the U.S. The new plant, located in Monterrey, Mexico, has an annual production capacity of approximately 10 million parts and will serve the automotive industry.
- In 2020, Consolidated Metco (ConMet) announced the acquisition of the aluminum die casting assets of Castleton Industries. The acquisition was aimed at expanding ConMet’s product offerings in the commercial vehicle market.
Research Methodology: Aluminium Die Casting Market
The research methodology adopted by analysts to compile the Aluminium Die Casting market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Aluminium Die Casting market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Aluminium Die Casting market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Aluminium Die Casting market.
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