In the automotive industry the major concern for the environment is the high fuel consumption and the emissions of greenhouses gases. The International Aluminum Institute, U.K. said that we can save the energy and reduce the greenhouse gas emissions by lowering the weight of the material. In other words, it has been said that the reduction in the weight of the vehicles is the best possible way to increase the demand of the lightweight materials.
The lightweight materials accelerate a lighter object in less energy to as compared to the heavier one and also further help in increase the efficiency of the vehicle. With the use of lightweight materials the automobiles can control the emission level, provide safety and integrated electronic system without increasing the weight of the vehicle. Further, it also helps in keeping all electric range of plug-in vehicles constant.
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Data Bridge Market Research analyses that the North America and MENA Aluminum Casting Market is expected to reach a value of USD 31.36 billion by 2031, from USD 18.66 billion in 2023, growing at a CAGR of 6.9% during the forecast period of 2024 to 2031.
Key Findings of the Study
Growing Usage of Aluminum Metal Owing to Increasing Demand of HVAC System in Commercial Buildings
In commercial buildings there are different kinds of Heating, Ventilation and Air Conditioning systems (HVAC) with multiple units and sprinkler systems. The system completely depends on the usage of the building and the demand of the temperature control. The best HVAC system in commercial buildings is dependent on various factors which include energy efficiency, operation and maintenance capabilities, weather and other factors.
The HVAC categories usually include heat pump, VRF or VRV systems, fan coil & blower coil units and displacement ventilation. The usage of aluminum has been increased very rapidly in the HVAC systems especially in ducts and fittings of the buildings. Aluminum duct is a way of passage which is used to move air throughout a building. Aluminum is used as it offers high strength to weight ratio and the part is also very lightweight in nature which can be expand in large distances without any support.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Process (Non-Expandable Mold Casting and Expandable Mold Casting), Source (Primary (Fresh Aluminum) and Secondary (Recycled Aluminum)), End-User (Automotive, Industrial, Aerospace, Electronic and Electrical, Building and Construction, Household Appliances, Engineering Tools, and Others)
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Countries Covered
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U.S., Canada, Mexico, U.A.E., Saudi Arabia, Egypt, Israel, Bahrain, Qatar, Oman, Kuwait, Algeria, Tunisia, Libya, and Rest of Middle East and North Africa
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Market Players Covered
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Alcoa Corporation (U.S.), Emirates Global Aluminium PJSC (U.A.E.), Pace Industries (U.S.), Consolidated Metco, Inc. (U.S.), Pyrotek (U.S.), Dynacast (U.S), Martinrea Honsel (Germany), TOYOTA INDUSTRIES CORPORATION (Japan), Wagstaff Inc. (U.S.), Ryobi Limited (Japan), TPi Arcade, LLC (U.S.), Arconic (Subsidiary of Apollo) (U.S.), LA ALUMINUM (U.S.), Alcast Technologies Ltd (U.S.), Rheocast Company (U.S.), GIBBS (Germany), Modern Aluminum Castings Co., Inc. (U.S.), Reliance Foundry Co. Ltd. (Canada), Pacific Die Casting Corp. (U.S.), Cast Aluminium Industries (U.A.E.), Vair Aluminum (KSA), Alico Industries Company Limited (U.A.E.), Dammam Central Casting Foundry (Saudi Arabia), Alumisr (Egypt), Sun Metal Group (U.A.E.), OAC (Oman), Capital Middle East LLC (U.A.E.), and Rigid Metal & Wood Industries L.L.C. (U.A.E) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
The North America and MENA aluminum casting market is categorized into three notable segments which are based on process, source, and end-user
- On the basis of process, the North America and MENA aluminum casting market is segmented into non-expendable mold casting, and expendable mold casting
In 2024, the non-expandable mold casting segment is expected to dominate the North America and MENA Aluminum Casting Market
In 2024, the non-expandable mold casting segment is expected to dominate the North America and MENA aluminum casting market with a 76.64% share in North America and 75.99% in MENA due to increased demand of high strength and lightweight materials in automotive industry.
- On the basis of source, the North America and MENA aluminum casting market is segmented into primary (fresh aluminum) and secondary (recycled aluminum). In 2024, the primary (fresh aluminum) segment is expected to dominate the North America and MENA aluminum casting market with 86.28% share in North America and 85.17% in MENA
- On the basis of end-user, the North America and MENA aluminum casting market is segmented into automotive, industrial, aerospace, electronic and electrical, building and construction, household appliances, engineering tools, and others
In 2024, the automotive segment is expected to dominate the North America and MENA Aluminum Casting Market
In 2024, the automotive segment is expected to dominate the North America and MENA aluminum casting market with a 42.18% share in North America and 35.69% in MENA due to the high demand for lightweight and durable materials, coupled with the growing automotive industry's need for efficient production and fuel efficient performance.
Major Players
Data Bridge Market Research analyzes Alcoa Corporation (U.S.), Martinrea Honsel (A Subsidiary of Martinrea International Inc.) (Germany), Emirates Global Aluminium PJSC (U.A.E.), Pace Industries (U.S.), and Dynacast (U.S.) as the major players operating in the North America aluminum casting market.
Data Bridge Market Research analyzes Emirates Global Aluminium PJSC (U.A.E.), Alcoa Corporation (U.S.), Dynacast (U.S.), Vair Aluminum (KSA), and Alico Industries Company Limited (U.A.E.) as the major players operating in the MENA aluminum casting market.
- In March 2024, Wagstaff Inc. announced a CEO transition Kevin Person, the former Chief Executive Officer, retired after 13 years of service. Steve Anderson, who had been Wagstaff Inc. Vice President of Sales and Marketing since 1995, succeeded Person in the role. Person's tenure was marked by significant achievements, including record sales and revenue growth, campus expansion, and navigating global crises. These changes positioned Wagstaff Inc. for continued success and growth under the guidance of capable leaders
- In August 2023, Alcoa Corporation has signed a new nine-year agreement with AGL Energy Limited, securing 300 megawatts of power supply for Portland Aluminium Smelter starting July 1, 2026. This agreement, covering half of the smelter's energy needs, ensures stability for its future operations, benefiting its workforce of over 760 employees and contractors. With a focus on renewable energy, Alcoa aims to further reduce carbon emissions, aligning with its long-term sustainability goals
- In December 2022, Alcoa Corporation restarted 35,000 metric tons per year of curtailed capacity, reaching 95% of its total capacity. The project involved significant refurbishment and created around 30 new permanent roles, contributing to the local area. With energy supplied under a four-year agreement with AGL, this restart enhances the smelter's capabilities and strengthens its operational efficiency
- In September 2022, Alcoa Corporation showcased low-carbon products and innovation at ALUMINIUM 2022, reinforcing its commitment to sustainability and offering cutting-edge solutions to customers across industries. This highlights Alcoa's leadership in sustainable aluminium production and strengthens its market position
- In July 2022, Toyota Industries Corporation expanded its production capacity for electric compressors to meet the growing demand for electrified vehicles worldwide. By doubling the size of its Higashiura Plant and constructing a new machining line for electric compressor components, the company aimed to capitalize on the burgeoning market for electric compressors. This expansion could potentially lead to increased orders and business opportunities for Toyota Industries' aluminum casting division, supporting its growth and market presence in the automotive industry
Regional Analysis
Geographically, the countries covered in the North America and MENA aluminum casting market report are U.S., Canada, Mexico, U.A.E., Saudi Arabia, Egypt, Israel, Bahrain, Qatar, Oman, Kuwait, Algeria, Tunisia, Libya, and rest of Middle East and North Africa.
As per Data Bridge Market Research analysis:
North America is expected to be the dominant and the fastest growing region in the North America and MENA Aluminum Casting Market
North America is expected to be the dominant and the fastest growing region in the aluminum casting market due to advanced technology, robust infrastructure, and high demand from automotive and aerospace sectors.
For more detailed information about North America and MENA aluminum casting market report, click here – https://www.databridgemarketresearch.com/ar/reports/north-america-and-mena-aluminum-casting-market
