Market Research Future
will be publishing a cooked research report on “Global Automotive Metal
Die Casting Industry” that contains the information from 2016 to 2023. The
global Automotive Metal Die Casting Industry is expected to exhibit a
CAGR of 8.75% during the forecast period 2016–2023.
Market Research Future
(MRFR) recognizes the following companies as the key players in the global Automotive Metal Die
Casting Industry: Endurance Technologies Limited (India), Rockman
Industries Ltd (India), Nemak (Mexico), Sandhar (India), Martinrea
International, Inc (Canada), Dynacast (US), Buhler AG (Switzerland), Ryobi
Limited (Japan), Shiloh Industries, Inc (US), GF Casting Solutions AG
(Switzerland), Minda Corporation Limited (India), Tadir-Gan Group (Israel), PHB
Corp. (US), Gibbs (US), and Eco die casting Co., Ltd (China), among others.
Market Highlights
The Automotive Metal Die
Casting Industry is projected to be valued at USD 46,167.5 million by the end of 2023 and projected to register a CAGR of 8.75% during
the forecast period. Die casting is a
process that is characterized by forcing molten metal into the mold cavity
under high pressure.
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Metals dies are
manufactured from a metal with a melting point higher than the molten metal to
be cast. The molten metal solidifies instantly to form a desired shaped
component inside the mold cavity. Die casting is used to manufacture various
automotive components such as engine mounting, crank cases, cylinder heads,
shock absorbers, disc brakes, and others. Metal dies and casting equipment
represent large capital costs, which limit the process to high-volume production.
Aluminum is the
preferable metal than zinc and magnesium on account of its relatively
lightweight, versatility, low cost, high dimensional stability, and
recyclability. It is used in the manufacturing of die cast components such as
engine and powertrain castings and wheels, back trunk, doors, shock towers,
cross members, bumpers, and body extrusions of cars.
Pressure die casting
process is reliable, quick, and cost-effective for production of large volume
metal components that are net-shaped with high tolerance and dimensional
stability. There are two types of pressure die casting, namely high-pressure
die casting and low-pressure die casting. Out of which, the former process is
relatively better owing to excellent dimensional tolerance and is economical
for both smaller and larger volume production. It is used in the production of
the compressor housing, main housing, transmission cover, clutch housing,
master cylinders, front lever, and filter head.
However, the only
bottleneck in the growth trajectory of the global Automotive Metal Die Casting
Industry is the high production and maintenance costs associated with the
process. Moreover, fluctuating raw material prices is further expected to
hamper global market growth. Nevertheless, the growing demand for automotive
metal die casting in the production of battery casings in electric vehicles is
likely to create immense growth opportunities for the market players.
Segment analysis
The global Automotive
Metal Die Casting Industry has been segmented based on metal, process type,
application, and region. On the basis of metal, the global market has been
classified into aluminum, zinc, magnesium, and others. Among these, the
aluminum segment held the largest market share of 67.63% in 2017 and is
estimated to reach USD 31,447.5 million by 2023. This is attributed to relatively low cost, durability, light weight,
recyclability, surface finishing options, and corrosion resistance properties.
Zinc is projected to be the fastest-growing segment with a robust CAGR of 8.70%
owing to excellent finishing capabilities, aesthetic features, superior
strength, durability, rigidity, and economical castability.
Based on process type,
the global market has been categorized into high-pressure die casting, gravity
die casting, low-pressure die casting, and others. Among these, the high-pressure
die casting segment dominated the market with a market share of 50.07% in 2017
and is projected to register the highest CAGR of 9.53% in the following years.
This is attributed to its excellent surface finishing capabilities, high
production efficiency, better mechanical properties, excellent dimensional
tolerance, and is economical both for smaller and larger volume production.
Also, it is possible to manufacture very small wall thickness and complex
products with intricate designs.
By application, the
global market has been divided into structural components, engine parts,
transmission components, and others. Among these, the structural components
segment accounted for the largest market share of 40.14% in 2017 and is
estimated to reach USD 19,846.0 million during the forecast period. These
components can replace multiple individual components, which, in turn, helps to
reduce the overall weight of the vehicle.
Regional Analysis
The global Automotive Metal Die Casting Industry is studied with respect to five key regions,
namely Asia-Pacific, Europe, North America, Latin America, and the Middle East
& Africa. As per MRFR analysis, the Asia-Pacific market accounted for the
largest market share of 51.27% in 2017 and is likely to be the
fastest-growing market with a robust CAGR of 9.48% by 2023.
The market in Europe was the second-largest and is projected to be valued
at USD 4,147.6 million by the end of 2023. The North American
market held a substantial market share of 15.5% in 2017.
Key Findings of the
Study:
- Global
Automotive Metal Die Casting Industry is projected to reach over 7,259.1 kilotons by
2023 with a healthy CAGR of 9.45% during the assessment
period of 2018–2023
- The
Asia-Pacific market accounted for the largest market share due to the
robust growth of the automotive industry in the economies such as India,
Thailand, South Korea, and China
- The
aluminum metal segment dominated the global market growth with
67.63% market share in 2017 and is expected to be valued at USD
31,447.5 million by the end of 2023
- The
high-pressure die casting process type segment dominated the market with a
market share of 50.07% in 2017 and is estimated to grow
at a notable CAGR of 53% during the
review period
- The
structural components application segment held the largest market share
of 40.14% in 2017 and is estimated to register a healthy CAGR
of 9.93% during the forecast period.
- Some
of the leading players operating in the Automotive Metal Die Casting
Industry are Endurance Technologies Limited (India), Nemak (Mexico),
Dynacast (US), Rockman Industries Ltd (India), Buhler AG (Switzerland), among
others.
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