North America and MENA Aluminum Casting Market, By 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) - Industry Trends and Forecast to 2031.
North America and MENA Aluminum Casting Market Analysis and Size
Increased demand of high strength and lightweight materials in automotive industry, followed by growing usage of aluminum metal owing to increasing demand of HVAC system in commercial buildings, and rise in usage of aluminum components in consumer electronics are continues to rise, the demand for aluminum casting is expected to increase, driving further growth in the market. While availability of better aluminum production process than casting and volatility in aluminum and its raw material prices are restraining the market.
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.
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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, Wagstaff Inc, Alcast Technologies Ltd, GIBBS, Form Technologies, LA ALUMINUM, Pyrotek, Aluminium Casting (UK) Ltd , OMAN ALUMINIUM CAST, TOYOTA INDUSTRIES CORPORATION, PACIFIC DIE CASTING CORP, Consolidated Metco, Inc, MODERN ALUMINUM CASTINGS CO., INC., Vair Aluminum, Reliance Foundry Co. Ltd., TPi Arcade, LLC, Pace Industries, Arconic (Aquired by Apollo Funds), Rheocast Company, Alumisr, Cast Aluminium Industries, Alico Industries Company Limited, Emirates Global Aluminium PJSC, Capital Middle East LLC., Martinrea Honsel, Rigid Metal & Wood Industries L.L.C., Sun Metal Group, and Dammam Central Casting Foundry among others
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Market Definition
Aluminum casting is a manufacturing process where molten aluminum is poured into a mold cavity to create intricate shapes and components with high precision and structural integrity. These castings serve a wide range of applications, from engine components and structural parts in automobiles to housings and enclosures in electronic devices. The process involves both ferrous and non-ferrous foundries specializing in aluminum casting such as sand casting, die casting, and investment casting.
North America and MENA Aluminum Casting Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Increased Demand of High Strength and Lightweight Materials in Automotive Industry
In the automotive industry the major concern for the environment is the high fuel consumption and the emissions of greenhouses gases. 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. Thus we can say that the usage of aluminum has been increased very rapidly in the automotive industry due to its properties of high tensile strength and its lightweight feature.
- 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. Aluminum is also used as an insulation material in heat exchange systems for the automotive and heat exchangers, Thus in the HVAC system of commercial buildings the usage of aluminium is been growing which impacts the casting market to grow and expand in future.
Opportunities
- Bottom Pour Techniques for Casting of Aluminum to Prevent Oxides Formation in Molds
Sand casting is one of the most traditional processes which have been used for the casting of aluminium alloys. It uses binder systems to grip both artificial collections and minerals so that the metals can be poured into molds which are manufactured from these materials. After that, the mold needs to be removed by breaking it and it cannot be re-used. The sand castings are poured in gravity through ladle pouring. Therefore the manufacturers have the alternative methods such as the bottom pure technique through which the casting can be done and the technique can also be very helpful in manufacturing castings such as cylinder heads and engine blocks. Therefore bottom pour technique is considered to be one of the best casting process as compared to conventional processes and it should be a good opportunity for the manufacturers as well to implement this technique and produced the efficient result as compared to the results which were producing from the conventional processes. Further it will provide the opportunity for the aluminium casting market as it will make the casting process very easy and produce the good quality of final product.
- Indulgence towards Precised and Surface Finished Aluminum Products through Investment Casting
It has to be witnessed that the investment casting is gaining momentum in the casting industry. Die casting is the lower cost process as compared to the investment casting but the finish and precision of the product which investment casting provides is not good as compared to any other process. It is the reason why the manufacturers are looking to shift towards the investment casting process rather than die casting process. Thus we can conclude that investment casting is considered to be the preferable casting process in spite of its high initial cost and the time which is included in this process and further it can be act as a good opportunity for the aluminum casting to grow and expand.
Restraints/Challenges
- Availability of Better Aluminum Production Process than Casting
The aluminium is considered to be one of the most versatile metal with a wide range of manufacturing methods. The different methods of aluminium are casting, forging and extrusion. Extrusion is the process, through which aluminium billets are compulsory passes through a die which rose in a preferred cross section whereas casting is the process in which molten aluminium is poured into a mold and then permit to solidify. Apart from any other metal forming process, extrusion creates different kinds of mechanical properties which may be required in the final stage of the product which is getting produced. It produces elongated grain structure which increases the strength of the raw materials. Further, the extrusion process provides lower tooling costs and high volume projects. Thus, we can say aluminum casting is not the only process and there are much better alternatives which can produce aluminum at a very low and can also provide equal or better strength to the finished product and therefore it restricts the aluminum casting market to grow and expand.
- Increasing Competition from Alternative Materials
Aluminium casting has long been favored for its lightweight properties, corrosion resistance, and versatility across various industries. However, the market is now witnessing a shift towards alternative materials such as magnesium alloy and other substitutes. The emergence of magnesium alloy limits the growth trajectory of aluminium casting by increasing competition from alternative materials. In conclusion, the increasing adoption of alternative materials poses a significant threat to the market share traditionally held by aluminum casting, especially in industries prioritizing light weighting and performance. This intensifying competition exerts pressure on aluminum casting manufacturers to innovate and differentiate their products to sustain competitiveness in the market. Ultimately, the restraint posed by increasing competition from alternative materials looms large over the growth prospects of the aluminum casting market.
Recent Developments
- 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
North America and MENA Aluminum Casting Market Scope
The North America and MENA aluminum casting market is segmented into three notable segments which are based on the process, source, and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Process
- Non-Expandable Mold Casting
- Expandable Mold Casting
On the basis of process, the market is segmented into non-expandable mold casting and expandable mold casting.
Source
- Primary (Fresh Aluminum)
- Secondary (Recycled Aluminum)
On the basis of source, the market is segmented into primary (fresh aluminum) and secondary (recycled aluminum).
End-User
- Automotive
- Industrial
- Aerospace
- Electronic and Electrical
- Building and Constructions
- Household Appliances
- Engineering Tools
- Others
On the basis of end-user, the market is segmented into automotive, industrial, aerospace, electronic and electrical, building and construction, household appliances, engineering tools, and others.
North America and MENA Aluminum Casting Market Analysis/Insights
The North America and MENA aluminum casting market is analyzed and market size insights and trends are provided by country, process, source, and end-user as referenced above.
The countries covered in the 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.
North America dominates the aluminum casting market due to advanced technology, robust infrastructure, and high demand from automotive and aerospace sectors. The U.S. is expected to dominate the North America aluminum casting market due to rise in usage of aluminum components in consumer electronics. The U.A.E is expected to dominate the Middle East and North Africa aluminum casting market due to technological advancement in aluminum casting in the country.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America and MENA Aluminum Casting Market Share Analysis
North America and MENA aluminum casting market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to North America and MENA aluminum casting market.
Some of the major players operating in the North America and MENA aluminum casting market are Alcoa Corporation, Martinrea Honsel (A Subsidiary of Martinrea International Inc.), Emirates Global Aluminium PJSC, Pace Industries, Dynacast, Vair Aluminum, and Alico Industries Company Limited among others.
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