Aluminum Casting Market Volume Forecast and Value Chain Analysis 2018-2026

by Pratiksha M on Jul 11, 2019 Business and Finance 48 Views
image

The demand within the global aluminium castings market has been rising on account of advancements in the automotive industry, finds Transparency Market Research (TMR). The global market for aluminium castings hosts a large number of companies that have earned a name for themselves on the global front. The strategic efforts of the leading vendors in the global market for aluminium castings have helped them in fortifying their roots across the world. It is expected that the leading players in the global market for aluminium castings would continually introduce new business hacks and marketing strategies in order to further expand consumer base. Furthermore, the presence of a huge chunk of small vendors makes the global market for aluminium castings extremely fragmented.

View exclusive Global strategic Business report

The small market players in the global market for aluminium castings are projected to follow the footsteps of the established firms in order to reap profits. The growth of these small and local players could be obstructed by the iconic brand image of the leading vendors. Most of the consumers in the global market for aluminium castings are associated with the industrial sector where quality and durability are the most important standpoints. Hence, the small market players are expected to concentrate on elevating their quality standards in order to earn the trust of the end-users.

A report added by Transparency Market Research (TMR) predicts that the global aluminium castings market would expand at a sluggish CAGR of 5.2% over the period between 2017 and 2025. The global market for aluminium castings had a net value of US$ 25.23 bn in 2016 and is expected to reach a value of US$40.14 bn by the end of 2025. On the basis of application, the demand for aluminium castings has been the highest across the automotive sector. The geographical segmentation of the global aluminium casting market shows that the market in North America has matured at a rapid pace.

Automotive Sector to Boost Market Demand

The demand for high-end cars with strong and resistant bodies has necessitated the use of effective aluminium castings in the automotive sector. Furthermore, the light weight of these castings helps manufacturers during the process of production which has also popularised aluminium casting across the world. Hence, it is safe to prognosticate that advancements in the worldwide automotive sector would also give an impetus to the growth of the global market for aluminium castings.

Apart from the automotive sector, aluminium castings are also used in other industries such as constructions, iron and steel, and metallurgy. This factor has also played a major role in the growth of the global market for aluminium castings in recent times.

Herculean Production Process Could Hamper Growth

Despite the utility of aluminium castings in multiple industries, the process of casting is time-consuming and labour-intensive which often slows down supply. This factor could act as a minor hindrance for the growth of the global market for aluminium castings over the coming years. However, the unavailability of a viable substitute and the low cost of aluminium castings is expected to keep enhancing the prospects of market growth in the years to come.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website:  http://www.transparencymarketresearch.com
Research Blog: http://www.europlat.org/

Reviews

Guest

Overall Rating:

Author

PratikshaM

Pratiksha M

Boost Your SEO

Newsletters

Newsline

Prize Winner

Apr 6, 2016 by Administrator

As you know, if you didn't - you do now, each month we will select a random author to win a prize, it may be for  best content, most views, most earnings but it will certainly be random once all the enties get put into the hat. The lucky winner will win a $50 prize... Continue reading →