Die Casting Market Size & Growth Analysis to 2030

The global die casting market size is expected to register a significant CAGR of over 6% during the forecast period from 2021 to 2027. The stringent policies of the government with regard to the increasing focus on reducing automobile emissions and increasing fuel efficiency is expected to drive the lightweight auto parts which is a major factor to drive the market growth. Furthermore, the growing industrialization and the increasing transportation sector are expected to provide new opportunities in the market. Moreover, the increasing adoption of automation in the die casting industry to improve productivity and durability is projected to propel the market over the forecast period.

Market Drivers:

Growing demand from the automotive industry: The automotive industry is a significant consumer of die-cast components. The increasing production of vehicles, coupled with the demand for lightweight and fuel-efficient vehicles, drives the demand for die-cast parts. Die casting provides high dimensional accuracy, excellent surface finish, and the ability to produce complex shapes, making it a preferred manufacturing process for automotive components.

Industrial growth and infrastructure development: The expansion of industries such as construction, aerospace, electrical and electronics, and consumer goods drives the demand for die-cast products. Die casting is used in various applications within these industries, including structural components, housing and enclosures, connectors, and electrical fittings. The growth of these industries and infrastructure development projects contributes to the expansion of the die casting market.

Cost-effectiveness and efficiency: Die casting offers cost-effective production of complex metal components in large volumes. The high production rates, minimal material waste, and reduced secondary operations make die casting an efficient manufacturing process. Companies benefit from the cost savings achieved through die casting, which drives its adoption in various industries.

Advancements in die casting technology: Technological advancements have led to the development of advanced die casting processes, equipment, and materials. High-pressure die casting (HPDC), vacuum die casting, and squeeze casting are some of the advanced techniques that provide improved product quality, reduced porosity, and enhanced mechanical properties. The continuous advancements in die casting technology drive the market by offering enhanced capabilities and expanded application possibilities.

Growing demand for lightweight materials: The need for lightweight materials in industries such as automotive, aerospace, and consumer electronics drives the demand for die-cast components. Die casting enables the production of lightweight parts with high strength-to-weight ratios using materials like aluminum, magnesium, and zinc alloys. The demand for lightweight materials to achieve fuel efficiency, reduce emissions, and improve performance contributes to the growth of the die casting market.

Environmental considerations: Die casting is a relatively environmentally friendly manufacturing process compared to other metal shaping methods. It generates less waste, has lower energy consumption, and allows for the recycling of scrap material. The increasing emphasis on sustainability and environmental regulations promotes the use of die casting as a greener alternative, driving market growth.

Growing market for consumer electronics: The consumer electronics industry, including smartphones, tablets, laptops, and other electronic devices, relies on die-cast components for their production. Die casting provides the required precision, durability, and aesthetic appeal for these products. With the constant demand for new and advanced electronic devices, the market for die-cast components in the consumer electronics industry continues to grow.

Global manufacturing and outsourcing trends: The globalization of manufacturing processes and the outsourcing of production to low-cost regions have contributed to the growth of the die casting market. Companies seek cost-effective manufacturing solutions, and die casting offers a competitive advantage due to its efficiency, scalability, and capability to meet high-volume production requirements.

Market Outlook:

Market Insights:

The global die casting market is bifurcated into process, application, and geography. On the basis of process, the market is further segmented into pressure die casting, vacuum die casting, squeeze die casting, and others. The pressure die casting segment is accounted to hold a significant market share. it is estimated that around one-third percent of auto parts are made of aluminum alloys, which is a prominent factor to contributed the segment growth. the increasing focus of manufacturers to provide lightweight vehicles is anticipated to drive the segment growth over the forecast period.

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The die casting comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The die casting market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Process:

• Pressure Die Casting
• Vacuum Die Casting
• Squeeze Die Casting
• Others

By Application:

• Automotive
• Electrical and Electronics
• Industrial Applications
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the Asia Pacific dominated the global die casting market in 2020 and expected to maintain its dominance over the forecast period. The region is estimated to hold the largest revenue share of around half of the market by 2027. The growing automobile industry in emerging economies such as India and China is a prominent factor to drive the market growth in the region.  Furthermore, the increasing demand from the industrial sector and the growing applications in telecommunication and windmills are anticipated to drive the market growth in the Asia Pacific.

Competition Assessment:

Some of the prominent market players operating in the global die casting market are Nemak, Ryobi Die Casting, Rheinmetall AG, Form Technologies Inc., and Shiloh Industries. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Nemak
• Ryobi Die Casting
• Rheinmetall AG
• Form Technologies Inc.
• Shiloh Industries
• Georg Fischer Automotive
• Koch Enterprises
• Bocar Group
• Engtek Group
• Endurance Technologies

Key Questions Answered by Die Casting Market Report

• Global die casting market forecasts from 2021-2027
• Regional die casting market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Die casting submarket forecasts from 2021-2027 cover the market by process, application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the die casting market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level die casting markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the die casting market