Automotive Part Die Casting Market to Register a CAGR of 7.0% During Forecast Period, 2019–2026

Wed, 09 October 2019 2:52

Weight reduction has emerged as an important aspect in the automotive sector since it not only results in reduced tailpipe emission but also enhances fuel efficiency. Automotive manufacturers are thus developing new models with lighter parts. The use of light die casted components in automobiles can translate to a considerable increase in fuel efficiency and enhancements in other functional aspects of the vehicle. For instance, in 2015, Ford trimmed up to 700 pounds from the F-150 by switching to an aluminum alloy body.

Automotive Industry to Fuel Growth of Pressure Die Casting Segment

At present, the automotive industry is one of the most important drivers of innovation in any economy. A survey conducted on the German foundry industry, one of the leading foundry industries in Europe, found that three-quarters of the pressure die-castings produced by it are sold to the automobile industry. Low-pressure die casting is particularly popular for the mass production of luxury class cars.

Upsurge in Demand for Aluminium Die Casting Due to Cost Reduction Pressures

Key body assemblies such as floor rails, shock towers, and pillars are being manufactured using high-pressure non-ferrous castings. OEMs are demanding aluminum die casting for auto parts since it enables the production of several thousand parts per annum at a relatively low cost. A few of the automotive OEMs using die casting in body assemblies include General Motors, Ford SUVs and F-150 trucks, Volkswagen, and Mercedes.

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Initiatives Towards Regional Production of Automotive Die Casting to Foster Market Growth

The rising production of automobiles and auto components and the emergence of electric vehicles are transforming Asia-Pacific’s die casting industry and its business prospects. China is the largest market for automotive die-cast parts worldwide, and with more than 28 million cars sold in 2018, it is also the world’s largest automobile market. Further, the ‘Made in China’ strategy is expected to bolster the growth of the regional die casting market. Under the strategy, new energy vehicles, new materials, and lightweight vehicles are listed in the top ten areas of focus.

Elimination of Import Tariffs to Offer Untapped Opportunities

Latin America is likely to witness a healthy growth rate in the automotive part die casting market, with regional governments eliminating import tariffs for vehicles. For instance, in 2017, the government of Colombia eliminated import tariffs for electric vehicles; the capping stands at 1,500 electric vehicles as of 2019 and will increase to 3,000 electric vehicles by 2023. Thus, the South American market for automotive die casting represents significant untapped opportunities.

Recent Developments

  • In December 2018, ConMet opened a new facility in China to enter the China market
  • In 2018, Endurance Technologies Limited acquired an Italian aluminum die-casting firm, Fonpresmetal Gap SpA through its Italian subsidiary, Endurance Overseas S.r.L. with an aim to increase its overall automotive aluminum casting capacity
  • In January 2018, Dynacast International Inc. and its operating divisions, Signicast and OptiMIM, merged with a newly formed entity, Form Technologies
  • In December 2016, Dynacast International Inc. acquired Taurus ’80 – a precision zinc die casting company

Key Players

Some of the prominent players in the global automotive part die casting market are Consolidated Metco, Inc, Texas Die Casting, Rockman Industries Limited, Endurance Technologies Limited, Alcast Technologies, Alcoa Corporation, Dynacast, and Ryobi Die Casting.

Segmentation

By Type

  • Pressure Die Casting
  • Vacuum Die Casting
  • Squeeze Die Casting
  • Semi-Solid Die Casting

By Application

  • Body Assemblies
  • Engine Parts
  • Transmission Parts

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Vietnam
  • Indonesia
  • Malaysia
  • Singapore
  • Rest of Asia-Pacific

LATAM

  • Brazil
  • Argentina
  • Columbia
  • Rest of LATAM

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • Bahrain
  • UAE
  • Rest of Middle East

Africa

  • Nigeria
  • Tanzania
  • South Africa
  • Ghana
  • Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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