Global Die Casting Industry: Key Statistics and Insights in 2024-2032
Summary:
- The global die casting market size reached USD 66.1 Billion in 2023.
- The market is expected to reach USD 108.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.44% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest die casting market share.
- Pressure die casting accounts for the majority of the market share in the process segment, as pressure die casting can handle a wide range of alloys, including aluminum and magnesium.
- Aluminum holds the largest share in the die casting industry.
- Automobile remains a dominant segment in the market, as die casting enables the production of complex, high-quality parts, such as engine blocks, transmission cases, and structural components, at a lower cost.
- The thriving automotive industry is a primary driver of the die casting market.
- The increasing demand for electric vehicles (EVs) is reshaping the die casting market.
Industry Trends and Drivers:
- Growth in the automotive industry:
With stringent regulations on fuel efficiency and emissions, automakers are increasingly focused on reducing vehicle weight to improve fuel economy. Die casting, especially using lightweight metals like aluminum and magnesium, enables the production of strong yet lightweight components. These materials are essential for reducing the overall weight of vehicles, leading to better fuel efficiency and lower emissions. The automotive industry demands high-volume production of components with consistent quality. Die casting offers the advantage of producing large quantities of intricate parts with high dimensional accuracy and surface finish. This capability makes it ideal for automotive manufacturing, where components like engine blocks, transmission cases, and structural parts need to be produced in bulk.
- Demand for electric vehicles (EVs):
EV manufacturers prioritize lightweight materials to enhance battery efficiency and extend vehicle range. Since die casting, particularly with aluminum and magnesium alloys, allows for the production of lightweight yet strong components, it is crucial for reducing the overall weight of EVs. Lighter vehicles consume less power, improving range and energy efficiency, which is a top concern in EV design. Die casting is extensively used in manufacturing battery enclosures, motor housings, and electric drive components for EVs. These parts need to be lightweight yet durable to house the sensitive electronic components securely. Aluminum die-cast parts, for instance, provide excellent heat dissipation, ensuring that batteries and motors maintain optimal operating temperatures.
- Technological advancements:
High-pressure die casting allows for the production of complex and highly detailed components with exceptional dimensional accuracy. It is especially beneficial for industries like automotive and aerospace, where intricate designs and lightweight components are critical. HPDC processes can produce parts with thin walls and minimal porosity, which helps in weight reduction and improves mechanical properties. The integration of automation and robotics in die casting facilities has revolutionized the industry. Automated systems can handle repetitive tasks such as mold preparation, casting, and finishing, resulting in faster production cycles, improved safety, and reduced human error. Automation also enhances consistency in part quality and allows manufacturers to achieve high levels of precision.
Request for a sample copy of this report: https://www.imarcgroup.com/die-casting-market/requestsample
Die Casting Market Report Segmentation:
Breakup By Process:
- Pressure Die Casting
- Vacuum Die Casting
- Squeeze Die Casting
- Others
Pressure die casting represents the largest segment because it enables high-speed production of complex, high-precision components with superior surface finish, making it ideal for mass manufacturing in industries like automotive and electronics.
Breakup By Raw Material:
- Aluminum
- Magnesium
- Zinc
Aluminum accounts for the majority of the market share due to its lightweight, corrosion-resistant properties and excellent strength-to-weight ratio, which are crucial for automotive and aerospace applications.
Breakup By Application:
- Automobile
- Body Parts
- Engine Parts
- Transmission Parts
- Others
- Heavy Equipment
- Construction
- Farming
- Mining
- Machine Tools
- Plant Machinery
- Chemical Plants
- Petroleum Plants
- Thermal Plants
- Paper
- Textile
- Others
- Municipal Castings
- Valves and Fittings
- Pipes
- Others
Automobile exhibits a clear dominance in the market as the demand for lightweight, durable components in vehicles to improve fuel efficiency and reduce emissions drives extensive use of die casting in automotive manufacturing.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position in the die casting market owing to the rapid growth of automotive and industrial sectors, particularly in China and India, along with increased manufacturing activities and foreign investments.
Top Die Casting Market Leaders:
The die casting market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- Dynacast International Inc. (Form Technologies Inc.)
- Endurance Technologies Limited
- Georg Fischer Ltd.
- Gibbs Die Casting Corp. (Koch Enterprises Inc.)
- Nemak S.A.B. de C.V.
- Pace Industries (Leggett & Platt)
- Rheinmetall AG
- Rockman Industries
- Ryobi Die Casting (USA) Inc. (Ryobi Limited)
- Sandhar Technologies Limited
- Shiloh Industries Inc.
- Sundaram - Clayton Limited.
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
Comments
0 comment