Aluminum Castings Market Driving Factors, Industry Analysis, Investment Feasibility and Trends, Outlook -2023

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Aluminum Castings Market Research Report -
Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Aluminum Castings Market Research Report-
Forecast to 2023
Aluminum Castings Market - Overview
Aluminum is among the most commonly used
non-ferrous metals and has an immense range of
applications in transportation, packaging, and a
number of other consumer goods. The metal has low
density, is easy to work with and is highly
durable as well as corrosion resistant. Casting
is used to form shapes and various other designs
for the manufacturing of a number of items. The
Global Aluminum Castings Market is poised to
witness market appreciation at a CAGR of 7.56
during the review period ranging from 2017 to
2023. Market Research Futures latest report
covers important ground in reference to the
Global Aluminum Castings Market and has recorded
a revenue of USD 59.6 Bn in 2016. At the
above-mentioned growth rate, the market is on
track to generate a revenue of USD 92.8 Bn by the
end of 2023. Aluminum has several key uses in
automobile parts as well as in consumer
appliances. Aluminum casting products are used
most commonly in the production of pistons,
engine parts and several other important parts in
automobiles. The automotive sector is growing at
a rapid pace due to urbanization and the increase
in disposable income has gone a long way in
supporting the astounding growth of the
automotive industry. Several small consumer
appliances also make intensive use of Aluminum
Castings. Urbanization has been found to be
responsible for the growing demand for consumer
appliances, which is likely to impact the
Aluminum Castings Market in a positive manner.
Aluminum is also an important structural metal
which has extensive uses in building
construction activities. Demand for aluminum
castings in the construction sector is likely to
grow due to similar reasons as increased demand
for aluminum in automotive applications.
Additionally, due to its low density, aluminum is
a lightweight metal which is witnessing increased
preference in the production of military-grade
weapons systems. Increasing investments from the
military toward the development of the same is
expected to be a significant driver of the
market. Restraints of the market include the
adoption of magnesium alloys to substitute
aluminum alloys. Magnesium has been observed to
have a lower density than aluminum and has
displayed higher strength in various similar
applications.
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Aluminum Castings Market Research Report-
Forecast to 2023
Segmental Analysis
Division of the market into its various vital
parts has been performed in the segmental
analysis of the report on the basis of Process,
End-use Industry, and Region. Processes used in
Aluminum Casting has been segmented into die
casting, sand casting, and permanent mold
casting. Due to its durable and cost-effective
nature, die casting is the most significant
segment under process and possesses the largest
market share. Additionally, die casting is ideal
for a large volume of production. End-use
Industries where Aluminum Casting is used include
building construction, transportation,
industrial, and others. The transportation
segment captured the largest share of the market,
while the building construction segment is
projected to witness the highest CAGR during the
forecast period. Browse Detailed TOC,
Description, and Companies Mentioned in Report _at_
https//www.marketresearchfuture.com/reports/alumi
num-castings-market-6719

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Aluminum Castings Market Research Report-
Forecast to 2023
Regional Outlook
The North American Aluminum Castings Market has
been observed to have captured the largest share
of the market. North America is a largely
well-developed region with several economically
strong countries such as U.S and Canada where
there are comparatively high disposable incomes.
Moreover, most consumers prefer private vehicles
over the use of public transport, and as such,
there is a high demand for automobiles in the
region. Moreover, the highly urban region also
has a high demand and sales of consumer
appliances making the region especially
significant in the Global Aluminum Castings
Market. However, the Asia Pacific is expected to
cover significant ground in terms of capturing
market share, as it is growing at the highest
CAGR. The region has several important emerging
economies that have successfully established
themselves as a manufacturing hub for automotive
and consumer appliances. Countries such as India,
China, South Korea, and Japan are among the key
country-level markets where increasing economic
growth, combined with rapid urbanization,
industrialization and a rise in disposable income
is expected to boost demand for consumer
electronics, automotive vehicles, and
construction activities.
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Aluminum Castings Market Research Report-
Forecast to 2023
Major Players in this Research

• Aluminum Castings Market Prominent Players
• Alcast Technologies Ltd. (Canada)
• Alcoa Corporation (USA)
• Aluminum Corporation of China Limited (China)
• Arconic Inc. (USA)
• Dynacast Charlotte (USA)
• Endurance Technologies (India)
• Gibbs Die Casting Corp (USA)
• Kaiser Aluminum (USA)
• Martinrea Honsel (Germany)
• Nemak S.A.B. de C.V. (Mexico)
• Rio Tinto (UK)
• Rockman Industries Ltd. (India) and Ryobi Limited
  (Japan)

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