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
Asia Pacific held dominant position in the global die casting market in 2020, followed by Europe and North America.
Die Casting Market Report Coverage
||Market Size in 2020:
||US$ 62.3 Bn
|Historical Data for:
||2017 to 2019
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 106.5 Bn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia & New Zealand , South Korea, and Rest of Asia Pacific
- Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
- By Type: Pressure Die Casting (High Pressure Die Casting and Low Pressure Die Casting), Vacuum Die Casting, Squeeze Die Casting, and Others (Semisolid Die Casting)
- By Material: Aluminum, Magnesium, Zinc, and Others
- By Application: Automobile (Body Parts, Engine Parts, Transmission Parts, and Other Application), Heavy Equipment (Construction, Farming, and Mining), Machine Tools, Plant Machinery (Chemical Plants, Petroleum Plants, Thermal Plants, Paper, Textile, and Others), Municipal Castings (Valves and Fittings, Pipes, etc.), and Others (Household Appliances, Art Objects, etc.)
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
- Increasing demand of light weight vehicles in automobile sector
- Rising industrialization in developing economies
- Technological advancement in die casting technology
|Restraints & Challenges:
- Changing requirement of end users
- Lack of well trained and skilled workforce in the die casting industry
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