The global aluminum casting market held a market value of USD 61.3 billion in 2021 and is expected to grow at a CAGR of 6.8% from 2022 to 2030. The market volume is estimated to account around 30,025.3 MT in 2021.
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The aluminum casting market is growing extensively owing to the rising applications in the aerospace, defense, construction, as well as automotive industries. The rising electric vehicles and lightweight military equipment contributes significantly towards the growth rate of the aluminum casting industry. On the other hand, the high capital investment is restraining the market.
Based on region, the global aluminum casting market has been segmented into North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. The North American market for aluminum casting is projected to hold an opportunity of USD 7.85 billion during 2022 to 2030. Moreover, the Asia Pacific industry for aluminum casting is likely to hold the highest growth rate of 7.5% over the forecast period.
The global aluminum casting market is segmented based on product, methods, and industry applications. Based on application, the electrical and electronics application segment is likely to cross the mark of USD 10 billion revenue by 2028.
The major players operating in the global aluminum casting market include Alcast Technologies Ltd., Arkema SA, Arrmaz, BASF Corporation, Dupont De Nemours Inc., Dynacast Deutschland GmbH, Honeywell International Inc., Huntsman Corporation, Ingevity Corporation, Kao Corporation, Kraton Corporation, MartinreaHonsel Germany GmbH, Nouryon, Sasol Limited, and among others. The top four players in the market held near about 25% market share.
Recent Developments by Market Players in the Global Aluminum Casting Market
Market Segmentation
By Product
By Methods
By Industry Application
By Region Segment of the Global Aluminum Casting Market is sub-segmented into:
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