What is the global market size of Die Casting Market?

Global Die Casting Market size was valued at USD 114.06 billion in 2021 and is poised to grow from USD 120 billion in 2022 to USD 180 billion by 2030, growing at a CAGR of 5.2% during the forecast period (2023-2030).

Die Casting Market Size, Share, Growth Analysis, By Application(Automotive, Electrical and Electronics, Industrial, and Other), By Process(Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, and Other Processes), By Raw material(Aluminum, Magnesium, and Zinc), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20I2200 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 92 | Figures: 73

Die Casting Market News

In August 2022, Wencan Group Co., Ltd. Introduced that it intends to build a production base of aluminum die-solid parts for New Energy Vehicles (NEVs) in Lu'an Economic and Technological Development Zone, Anhui Province.

In April 2021, Aludyne completed the acquisition of Shiloh Industries' CastLight division, which specializes in the production of aluminum die-casting components. This acquisition enhances Aludyne's role as a provider of light-weight solutions.

In March 2021, Rheinmetall AG secured a settlement worth over one hundred million euros to deliver engine blocks to a distinguished German automaker. Series manufacturing is slated to begin in 2023, with the settlement extending beyond 2030.

In February 2021, Endurance Technologies announced the commencement of business production at its newly established facility in Kancheepuram, Tamil Nadu, India. This facility is devoted to the production of aluminum die-casting components and the integration of disc brake additives for each -wheelers and four-wheelers.

Die Casting Market Report Snapshots

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Die Casting Market size was valued at USD 90 billion in 2022 and is poised to grow from USD 94.68 billion in 2023 to USD 142.03 billion by 2031, growing at a CAGR of 5.2% during the forecast period (2024-2031).

The competitive landscape of the die casting market is marked by numerous companies vying for market share. These agencies frequently pay attention to product innovation, quality enhancement, and fee-effective solutions to gain an aggressive edge. Collaboration with different enterprise stakeholders, which include providers and distributors, is also a commonplace approach to increase marketplace reach and enhance delivery chain efficiency. Additionally, companies in this sector keep a keen eye on evolving industry regulations and customer preferences to adapt swiftly and maintain their competitiveness. As a result, the die casting market remains dynamic and responsive to changing market dynamics. 'Leggett & Platt (US)', 'Consolidated Metco (US)', 'GF Casting Solutions (Germany)', 'Ryobi Die Casting (US)', 'Martinrea Honsel (Germany)', 'Shiloh Industries (US)', 'Guangdong Yizumi (China)', 'Endurance Technologies Ltd. (India)', 'Pace Industries (US)', 'Dynacast International (US)', 'Arconic (US)', 'Alcoa Inc. (US)', 'Gibbs Die Casting (US)', 'Bodine Aluminum (US)', 'Hitachi Metals Ltd. (Japan)', 'Sigma Electric Manufacturing Corp. (US)', 'Empire DieCast (US)'

Technological advancements, such as the development of high-performance alloys and automation in die casting processes, are a major driver of the die casting market. These innovations enhance product quality, reduce production costs, and increase efficiency, thereby boosting market growth.

Increased Emphasis on Sustainability :Manufacturers are adopting green materials and strategies to lessen environmental influences. Additionally, there is a growing cognizance of recycling and strength-green production strategies to align with international sustainability desires and meet client needs for greener products. This fashion is reshaping the die casting landscape and riding innovation in environmentally accountable practices.

Asia-Pacific is poised to exhibit robust growth throughout the forecast period. This dominance can be attributed to the escalating demand for die casting across multiple sectors, including industry, automotive, and the expanding spectrum of applications such as telecommunications and wind energy in the region. These factors collectively propel the market's upward trajectory in Asia-Pacific.

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