North America Aluminum Casting Market, By Process (Expendable Mold Casting and Non-Expendable Mold Casting), Source (Primary (Fresh Aluminum) and Secondary (Recycled Aluminum), Application (Intake Manifolds, Oil Pan Housings, Structural Parts, Chassis Parts, Cylinder Heads, Engine Blocks, Transmissions, Wheels and Brakes, Heat Transfers and Others), End-User (Automotive, Building and Construction, Industrial, Household Appliances, Aerospace, Electronic and Electrical, Engineering Tools and Others) Country (U.S., Canada, Mexico), Market Trends and Forecast To 2028.
Market Analysis and Insights: North America Aluminum Casting Market
North America aluminum casting market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 7.7% in the forecast period of 2021 to 2028 and is expected to reach USD 24,403.19 million by 2028.
The aluminum casting provides several advantages to the manufacturers as well for the end consumers. The process allows the producers to produce parts faster and higher than any other alloy material. The products which are formed through the casting process are corrosion-resistant, versatile, and can be used for different purposes. Further, it also allows the manufacturers to manufacture various types of products through these aluminum parts.
The lightweight materials accelerate a lighter object in less energy than the heavier one and further help increase the efficiency of the vehicle. With lightweight materials, automobiles can control the emission level and provide a safe and integrated electronic system without increasing the vehicle's weight. Further, it also helps in keeping an all-electric range of plug-in vehicles constant. Thus, we can say that aluminum usage has been increased very rapidly in the automotive industry due to its high tensile strength and lightweight feature. So the casting of aluminum gets increased, which boosts the market in the future.
The growing demand for aluminum cast tools in agriculture due to their advantages, such as lower cost and lightweight, is considered a major market driver for the aluminum cast market. The volatility in aluminum and its raw material prices could be considered as a major market restraint. The replacement of iron and steel with aluminum in automobiles to reduce CO2 emission and bodyweight of the vehicle could scale up the overall sales and demand of the aluminum casting market and is considered a major opportunity for the market. The chemical and mechanical processes involved in aluminum casting produce several toxic by-products and consume excessive energy, which acts as a challenge for the market.
This aluminum casting market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
North America Aluminum Casting Market Scope and Market Size
North America aluminum casting market is segmented based on process, source, application, and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of process, the market is segmented into expendable mold casting and non-expendable mold casting. In 2021, the non-expendable mold casting segment is expected to dominate the North America market as large numbers of car parts such as engine blocks or structural parts have been manufactured majorly through the high-pressure die casting process.
- On the basis of source, the market is segmented into primary (fresh aluminum) and secondary (recycled aluminum). In 2021, primary (fresh aluminum) is expected to dominate the North American market as countries like the U.S. have low recycling rates due to limited government initiatives to support the recycling process in these countries. That is the reason why the region is focusing on fresh aluminum to manufacture the products.
- On the basis of application, the market is segmented into intake manifolds, oil pan housings, structural parts, chassis parts, cylinder heads, engine blocks, transmissions, wheels & brakes, heat transfers, and others. In 2021, wheels and brakes are expected to dominate the market as in North America; regulators have started considering the “wells to wheels” approach to measure the social impact of automobiles across the cycle of the product life rather than focusing only on the automobiles. Thus the demand for wheels and brakes has been increasing in the North American market.
- On the basis of end-user, the market is segmented into automotive, building and construction, industrial, household appliances, aerospace, electronics and electrical, engineering tools, and others. In 2021, automotive is expected to dominate the North American market as the demand for vehicles had increased in countries like the U.S. and Canada. The companies like Ford have started mass production techniques, which has boosted the demand for the automobile sector in the region.
North America Aluminum Casting Market Country Level Analysis
North America aluminum casting market is segmented based on process, source, application, and end-user.
The countries covered in the Aluminum Casting market report are U.S., Canada, and Mexico. The U.S. is dominating the North America Aluminum Casting market due to the rise in usage of aluminum in making lightweight vehicles and electric vehicles in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growth in the North America Aluminum Casting industry
North America aluminum casting market also provides detailed market analysis for every country's growth in the installed base of different kinds of products for the market, the impact of technology using lifeline curves and changes in infant formula regulatory scenarios, and their impact on the Aluminum Casting market. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Aluminum Casting Market Share Analysis
North America Aluminum Casting market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the focus of the North America Aluminum Casting market.
The major players covered in the report are Alcoa Corporation, Ryobi Limited, DyCast Specialties Corporation, Consolidated Metco, Inc., Alcast Technologies, Pyrotek, GIBBS, Dynacast, Reliance Foundry Co. Ltd., TOYOTA INDUSTRIES CORPORATION, LA ALUMINUM, TPi Arcade, Wagstaff Inc., Modern Aluminum Castings Co., Inc. and Pacific Die Casting Corp., among other players domestic and regional. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In April 2021, TOYOTA INDUSTRIES CORPORATION and Siemens cooperated to develop artificial intelligence (AI) to predict product abnormalities in aluminum die casting, a key process in automotive air conditioning compressor production. This development will enable the company to adopt digitalization and automation solutions
- In April 2019, Wagstaff Inc., started expanding its Spokane Valley-based aluminum castings equipment manufacturing site by adding a 55,900-square-foot new building. With this development company is enhancing its reach in the domestic and global market
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