The Europe Aluminum die casting market size is expected to reach a valuation of USD 9.05 billion by 2030, growing at a CAGR of 4.28% during the forecast period (2022–2030). Aluminium can be formed in a variety of ways, but Aluminum die casting is one of the most prevalent possibilities that designers think about using.
Many automotive, industrial, and telecommunications products are made using Aluminum die casting. Additionally, it is frequently utilised in the production of components for electrical, hydraulic, and lighting systems.
The production of intricate aluminium components is made possible using a metal-forming technique known as Aluminum die casting. After being heated to extremely high temperatures, ingots of aluminium alloy are melted down completely.
A large amount of pressure is applied before injecting liquid aluminium into the cavity of a steel die, which is also referred to as a mould. The cast aluminium component is revealed when the two sides of the die are separated after the liquid aluminium has cooled and hardened. The die is composed of two halves.
The aluminium product that you get as a result of this technique is very accurately shaped, has a smooth surface, and frequently requires very little or no machining at all. Because steel dies are used in Aluminum die casting, the process may be repeated several times using the same mould before it begins to deteriorate. As a result, Aluminum die casting is excellent for the manufacturing of aluminium components in large quantities.
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Aluminium is portrayed as a key material for the transition to a more sustainable world by the aluminium industry, with the European Aluminium Association, an industry group, saying in a 2018 video, "The future of mobility is electric... Aluminium is the metal that is enabling this green electric future."
Aluminium is a very recyclable metal that is also relatively light in weight. The fact that the automobile industry is making significant efforts to cut greenhouse gas emissions and improve fuel economy is highly encouraging for the sector.
Aluminium that has been recycled can save up to 95 percent of the energy that would have been used to produce new aluminium goods from bauxite ore. In addition to this, it fosters the growth of a circular economy by including recyclable materials into the manufacturing process, thereby generating environmentally responsible corporate practises.
The increasing use of low-density aluminium alloys in aircraft fuselages is regarded as a major market driver for the aluminium casting market. The replacement of iron and steel in automobiles with aluminium to reduce CO2 emissions and vehicle bodyweight could increase overall sales and demand in the aluminium casting market and is regarded as a major opportunity for the market.
Increasing demand of commercial vehicle segment in Europe
The increased preference for pickup trucks and small vans over heavy-duty trucks and railways for logistics is the underlying factor driving the growth of the European light commercial vehicle market. During the forecast period, demand for lightweight vehicle components for use in light commercial vehicles is expected to skyrocket.
The majority of farms in Italy are organic and family run. These family-owned businesses rent commercial vehicles to transport their produce to nearby retail outlets, thereby propelling the market. Furthermore, with new regulations requiring LCVs to stay within the specified weight limit, OEMs must focus on producing LCVs made of lighter materials. The region's rapidly expanding e-commerce market is also driving up demand for commercial vehicles to transport goods to other countries.
The presence of competitive products in the market, such as magnesium and titanium, amongst others, tends to reduce the demand for aluminium and aluminium casting, which is a major market restraint for the aluminium casting industry.
The high cost of tooling and setting up aluminium casting operations is a big issue to the market because it prevents new companies from entering the market and might be regarded a significant barrier to entry.
The Europe Aluminum die casting market has been segmented by process and end use.
The Europe Aluminum die casting market has been divided into pressure die casting and others based on the process. The market is expected to be dominated by the pressure die casting process segment.
Pressure die casting has many advantages, including improved quality, long service life, high reliability due to homogeneity of mass-produced components, quick manufacturing, low die casting tooling maintenance, versatile design, and minimal assembly. As a result of the benefits, its widespread adoption in the sector is expected to drive the market over the forecast period.
Transportation, industrial, building & construction, telecommunication, consumer durables, energy, and others are the segments of the Europe Aluminum die casting market on the basis of end use. Moreover, the market is expected to be dominated by the transportation segment.
Because Aluminum die castings are lightweight and have good corrosion resistance, mechanical properties, and dimensional stability, their use in light and robust vehicles is growing. The adoption of lightweight vehicles is expected to fuel the rise of aluminium components in the transportation industry in the coming years, such as steering knuckles, crash management systems, closures, and structural die cast parts.
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The European automotive industry is widely regarded as the most technologically advanced and innovative in the world. Due to economic and political pressures, reducing fuel consumption and CO2 emissions has become a major priority for automobile manufacturers, and reducing vehicle weight through better design and construction appeared to be the most advantageous solution. Solutions based on the extensive use of nonferrous metals as modified or new alloys are being developed specifically to meet the needs of the automotive industry.
Germany, Italy, and Russia are expected to be the top three countries. Other important European markets include the Czech Republic and Poland.