Tempered aluminum is known as cast aluminum. It is lightweight and is able to withstand high operating temperatures. The ability to cast complex shapes with low machining need is the major advantage of casting. Aluminum is preferred over steel and iron due to its superior mechanical properties. However, the high price of aluminum makes it necessary to mix it with magnesium, iron, and copper. The corrosion resistant properties of aluminum make it extremely useful to make cans and vessels, which can be used to store food & beverages.
One of the major driving factors for aluminum casting market growth is the lightweight property of aluminum that contributes toward major cost savings in the automobile and aerospace industries. It is also used in construction, industrial, electrical, kitchenware, and many other sectors. A major challenge hindering market growth is the high cost of aluminum coupled with the cyclic rise and ebb of the automotive industry.
Aluminum Casting Market Taxonomy
On the basis of casting process, the aluminum casting market is classified into:
On the basis of end-use industry, the aluminum casting market is classified into:
Die casting process is used for high volume production of aluminum. Great finish can be obtained by this process, hence requiring minimum machining. Aluminum molded in permanent mold casting is stronger than sand and die casting processes. Whereas, sand casting is economic for small quantities.
The automobile and aerospace industries are the largest end users. Aluminum’s lightweight and high strength properties make it a prime commodity in these industries.
Aluminum Casting Market Outlook
Aluminum Corporation of China Limited (CHALCO) agreed to buy 40% shares in Chinalco Shangai in 2017. This acquisition further consolidates its position in the region. It is the third largest alumina producer in the world.
Some of the major players in the aluminum casting market are Alcoa Corporation, Aluminum Corporation of China Limited, Ryobi Limited, United Company Rusal, Arconic Inc., China Hongqiao Group Limited, Gibbs Die Casting Corp, Rio Tinto, Dynacast Charlotte, and Nemak S.A.B. de C.V. among others.
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