Aluminum Die Casting Market Size Worth $48.93 Billion by 2025:

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Aluminum Die Casting Market Size Worth $48.93 Billion by 2025:

The global aluminum die casting market size is anticipated to reach USD 48.93 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 10.1% during the forecast period. Increasing demand for lightweight parts in the automotive sector is anticipated to drive the growth.aluminum die casting manufacturer
Recycled aluminum has widely gained popularity, as the demand for products with low carbon footprint escalates. The momentum towards reducing carbon footprint is already gaining prominence in the market. For instance, in 2016, Jaguar Land Rover launched a project to return used vehicle parts to Novelis after the end of the vehicle's lifecycle.

Industrial Internet of Things (IIoT) and industry 4.0 are emerging technologies in the aluminum die casting market. Industrial IoT offers benefits across various areas such as efficiency, new business models, new revenue streams and risk management and safety compliance. With integration of electronic devices in casting manufacturing, products can be obtained with improved functionality at an enhanced productivity rate. Also, sensors can be embedded in the castings to detect, measure and evaluate mechanical loads such as deformations, tensile forces and vibrations in casting products.

Over the years to come, digital platforms are likely to play a major role especially for the small or medium level manufacturers. The rising prominence of such platforms has encouraged the vendors to develop highly interactive websites to attract new customers with their product range.

Many countries are making efforts to control the pollution caused by the manufacturing sector. For instance, the Government of China is offering increased incentives to the companies implementing various steps to curb pollution. The scheme shall be applicable for the industries such as metal, cement, glass, coking, and waste to energy. In addition, province of Hebei in China is offering a pace setter scheme for the industries which impose stricter norms to limit pollution than necessary emission standards, consume low levels of coal and water, and implement green supply chain system.

As per the International Aluminum Institute, aluminum die castings for sub-frames and body parts are projected to grow from 1.1 kg per vehicle in 2015 to 6.5 kg per vehicle in 2020. While aluminum castings for steering knuckles are anticipated to increase from 5.4 kg per vehicle in 2015 to 7.4 kg per vehicle in 2020. Thus, the increase of aluminum content in vehicles to remain a key driving factor for the market.