Die casting is a manufacturing method that uses reusable molds called dies to create geometrically complicated metal components. The metal, which is usually a non-ferrous alloy like aluminum or zinc, is melted in a furnace and then pumped into dies in a die casting machine. The technique is defined by pushing molten alloy or metal into a mold cavity under high pressure. Metals such as lead, zinc, magnesium, aluminum, copper, and tin-based alloys are used to make die castings.
The die casting market is growing due to an increase in demand for fuel-efficient, high-performance, and low-emission cars. Die casting machine demand is further boosted by an increase in machinery manufacturing sectors and an increase in building industry investments. The market's growth is likely to be restricted by raw material price volatility. In addition, there has been a number of improvements in the traditional high-pressure die casting techniques in the recent years. During the projected period, such aspects are likely to provide attractive growth prospects for market participants.
High pressure die casting (HPDC) technology is rapidly evolving to meet new market trends. This in turn is pushing the introduction of new die lubricant technologies into the die casting market. These new technologies provide higher productivity in die casting plants through their ability to help casters produce high-quality and complex castings at high die temperatures while reducing machine downtime.
China holds largest market share in automobile die casting industry. In early 2020 due to covid-19, the global economy and environmental laws had a significant impact on Chinese automobile exports. Recent regulatory changes throughout the world have had little to no influence on the rate of sales growth in 2019.
The Indian government has introduced 100% foreign direct investment (FDI) in the car and auto component sectors. As a result, several international firms have begun to construct facilities in the country to manufacture automobiles for both the domestic and worldwide markets. In India, the die casting industry is at a crossroad. Many companies have expressed interest in investing in the Indian market for electric vehicles as die casting are mainly used in automobile sector to make lightweight vehicles. Such growing opportunities in the automobile industry are expected to boost the market growth of global die casting market.
Global Die Casting Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 outbreaks and related shutdowns have impacted the die casting industry in numerous nations. In the first half of 2020, the pandemic's detrimental effects could be seen in the global industrial sector. As a result, the market's growth was limited by the reduction in production rates due to the pandemic-related interruptions in the first few months of 2020. After limitations were relaxed, the market regained its lost momentum by the end of 2020.
Asia Pacific held dominant position in the global die casting market in 2020
Statistics:
Asia Pacific held dominant position in the global die casting market in 2020, followed by Europe and North America.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2020: | US$ 62.3 Bn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 7.2% | 2028 Value Projection: | US$ 106.5 Bn |
| Geographies covered: |
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| Companies covered: |
Alcast Technologies, Arconic, Consolidated Metco, Inc., Dynacast International Inc., Gibbs Die Casting, Ryobi die casting Inc., Bodine Aluminum, Martinrea Honsel Germany GmbH, Leggett & Platt, Endurance Technologies Ltd., Empire Die Casting Company, Alcoa Inc., Hitachi Metals Ltd, Nemak S.A.B. de C.V., GF Casting Solution AG, Shiloh Industries Inc., Rheinmetall Automotive AG, Sigma Electric Manufacturing Corp., Pace Industries, and Guangdong Yizumi |
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Figure 1: Global Die Casting Market Share (%), By Region, 2020
Asia Pacific is expected to account for the largest market share during the forecast period, owing to the presence of major key players such as Dynacast International Inc., Endurance Technologies Ltd., Hitachi Metals, Guangdong Yizumi, and many others in the region.
Automobile segment is expected to drive the market growth during the forecast period
Among application, the automobile segment is expected to hold dominant position in the global die casting market during the forecast period. As of 2020, polymers and non-ferrous materials accounted for more than 30% of all materials used in automobiles. Aluminum alloys, which are mainly created utilizing the high pressure die casting technique, now make approximately 30-40% of the car components in a vehicle.
Figure 2: Global Die Casting Market Value (US$ Bn) Analysis and Forecast, 2017 - 2028
The global die casting market was valued at US$ 62.3 Bn in 2020 and is expected to reach US$ 106.5 Bn by 2028 at a CAGR of 7.2% between 2021 and 2028.
Major players operating in the global die casting market include Alcast Technologies, Arconic, Consolidated Metco, Inc., Dynacast International Inc., Gibbs Die Casting, Ryobi Die Casting Inc., Bodine Aluminum, Martinrea Honsel Germany GmbH, Leggett & Platt, Endurance Technologies Ltd., Empire Die Casting Company, Alcoa Inc., Hitachi Metals Ltd, Nemak S.A.B. de C.V., GF Casting Solution AG, Shiloh Industries Inc., Rheinmetall Automotive AG, Sigma Electric Manufacturing Corp., Pace Industries, and Guangdong Yizumi
Die casting is a manufacturing process that involves pouring molten metal into steel molds. Molds, also known as tools or dies, are made of steel and are custom-made for each job. Die casting enables each component to be made with precision and consistency. Die casting alloys that are most often used include aluminum, zinc, and magnesium. Die casting has a number of benefits over other manufacturing techniques, which can result in considerable cost reductions, both in terms of the part price and the entire cost of production. When you cast a component, you may make complicated net forms with minimal draught angles such as exterior threads and intricate interior features to reduce secondary operations. Hot-chamber die casting is an excellent choice for alloys metal pots, cylinders, and plungers. It is used for zinc, certain magnesium alloys, and other low-melting alloys. Cold-chamber die casting is suitable for metals with high melting points including aluminum.
The method of die casting is mostly used in automobile industry. Zinc die casting parts for the automobile industry is known as hot chamber die casting. Zinc is heated until it melts, then it is pressed into a mold in the shape of the required automobile part. The metal is taken out from the mold when it is cooled and solidified. Non-ferrous materials with high fluidity and low fusion temperature such as zinc, alloys such as copper, aluminum, brass, magnesium, and tin-based alloys are commonly made using the die casting method. Approximately 50% of gears/wheels are made up of zinc-based alloys that are manufactured by the die casting process.
Market Dynamics
The increased demand for aluminum castings in the electrical and electronics sector along with the increasing penetration of die casting parts in the automobile industry is driving the global die casting market. High precision and digital machines are increasingly being utilized to increase the quality and durability of aluminum castings for industrial, automotive, and electronic applications, as casting technology improvements has boosted global die casting market growth. Furthermore, the expanding construction equipment industry as well as widespread energy conservation practices in developing regions like APAC and Latin America has had a major impact on the aluminum casting market's exponential expansion. Moreover, growing industrialization, especially in India and China has increased demand for aluminum castings in different sectors such as telecommunications, energy, and industrial components. The demand for lightweight, non-ferrous metals in the automobile sector has been accelerated by the fast adoption of strict government rules aimed at reducing automobile emissions and boosting fuel economy. The die casting industry is growing due to the implementation of strict emission standards by various nations and regions governments. Reduced vehicle weight is an essential step in lowering emissions, which leads equipment manufacturers to choose lightweight materials for automotive components such as magnesium and carbon fiber reinforced plastic. The market investigated is growing due to increased investments in innovation and automation sector. For instance in 2020, the Indian Institute of Technology (IIT), Madras, the US Army Research Laboratory, and the University of North Texas had discovered a unique magnesium alloy that could be used in the automobile sector to replace aluminum and steel alloys and improve vehicle fuel economy.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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