Aluminum Casting Market Set to Reach $100.5 Billion by 2026 with Impressive at 7.4% CAGR
The global aluminum casting market size is estimated at USD 70.4 billion in 2021 and is projected to reach USD 100.5 billion by 2026, at a CAGR of 7.4%, between 2021 and 2026. Aluminum casting is a type of metalworking process that involves pouring liquid metal into a mold or form. Aluminum casting is a variation of this that uses only aluminum and aluminum alloys as the liquid metal that is poured into the mold. Aluminum castings are used to make complex and detailed parts very efficiently. Traditionally, aluminum casting was achieved using a process called green sand casting. This involved the use of wet sand in the creation of casting molds. As a method, it was efficient and cost-effective, but not without its drawbacks. The die casting method of aluminum casting is ideal when large numbers of simple or complex castings are required. This casting process results in an aluminum casting with smoother surfaces and good dimensional accuracy. This means that less fettling and finishing is required.
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The key players in the aluminum casting market are Alcoa Corporation (US), Ryobi Limited (Japan), Aluminum Corporation of China Limited (China), Rio Tinto (UK), United Company RUSAL (Russia), and others. The aluminum casting market report analyzes the key growth strategies adopted by the leading market players, between 2017 and 2021, which include expansions, mergers & acquisition, new product developments/launch, and collaborations.
Alcoa Corporation is a leading manufacturer and supplier of bauxite, alumina, and aluminum products. The company functions through three business segments, namely, Engineered Products and Solutions (EPS), Global Rolled Products (GRP), and primary metals. The company serves markets such as aerospace, automotive, building & construction, commercial transportation, consumer electronics, defense, industrial products & services, medical, oil & gas, and packaging. It is also engaged in mining of bauxite and refining of alumina. It also produces value-added products made of titanium, nickel, and aluminum. The company manufactures and supplies a wide variety of aluminum casting products worldwide, such as aluminum billets, foundry ingots, rolling slabs, rods, and powder.
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Ryobi Limited is a company engaged in the manufacturing and sale of die casting products, power tools, architectural products, and printing equipment. The Printing Equipment offers multi-functional offset printing presses that produce catalogs, posters, magazines, packaging and other high-quality graphic printed material speedily and to high precision levels. The Housing Equipment segment provides hardware to make homes and offices safe and comfortable, including door closers that shut doors quietly and securely every time, and air-conditioning controllers that ensure comfortable room temperatures are maintained in hotels and other facilities. The die casting segment manufactures and sells die-casting products and aluminum molds for the automobile industry. Owing to the technological expertise and experience accumulated over many years, Ryobi uses its collective strength and corporate agility to supply high-quality die casting products mainly to the automobile industry. It offers over 2,500 types of die-cast products, including cylinder blocks, transmission cases and subframes, used in over 300 types of vehicles.
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