Global Automotive Metal Die Casting Market Research Report Forecast to 2023

SKU ID : MRF- 13667829

Publishing Date : 01-Jun-2019

No. of pages : 196

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  • Die casting is a metal casting process in which molten metal is forced into the mold cavity under high pressure to manufacture geometrically complex metal parts. The molten metal in the mold solidifies to form the desired-shaped component inside the mold cavity. Various metals, including aluminum, zinc, and magnesium, are used to manufacture these parts/components, wherein aluminum is the most widely used metal. These metals offer versatility, resistance to corrosion and moisture, high strength-to-weight ratio, lightweight. Die casting is used to manufacture various automobile components such as engine mounting, crankcase, cylinder head, shock absorbers, disc brakes, and others.
    According to analysis, the global automotive metal die casting market is expected to be valued at USD 46,167.5 million by the end of 2023, registering a healthy CAGR of 8.75%.
    The prominent factors driving the growth of the market are stringent environmental protection agency (EPA) regulations to curb CO2 emissions and growing demand for lightweight metals to reduce the overall weight of vehicles. Various initiatives by the North American Die Casting Association (NADCA) in automotive die casting companies is further expected to boost the global market growth. Besides, the widespread use of aluminum in the manufacturing of various automotive die cast components such as engine and powertrain castings and wheels, shock towers, doors, back trunk, and bumpers, is expected to boost the global market growth.
    Furthermore, the growing demand for metal die casting components in electric vehicles owing to their lightweight and improved battery performance for a longer run coupled with the robust growth of the electric vehicles market is expected to propel the growth of the global market in the years to follow.
    The global market has been segmented on the basis of metal, process type, and application. On the basis of metal, the global automotive metal die casting market has been categorized into aluminum, zinc, magnesium, and others. Among these, the aluminum segment accounted for the largest market share of above 67%, by value in 2017. The primary factors driving demand for aluminum are its low cost, recyclable nature, surface finishing options, and superior dimensional stability. The zinc is expected to be the fastest-growing segment with a CAGR of over 9% during the assessment period. This is attributed to its excellent aesthetic appeal, high strength, and superior performance.
    Based on process type, the global automotive metal die casting market has been divided into high-pressure die casting (HPDC), gravity die casting (GDC), low-pressure die casting (LPDC), and others. The HPDC process is the widely used die cast automotive components manufacturing process owing to its ability to produce high volumes of large light alloy parts at great speeds. Additionally, this process allows manufacturing components with superior surface finish, excellent uniformity, high precision, and optimum mechanical properties.
    By application, the global automotive metal die casting market has been sub-segmented into four applications, namely structural components, engine parts, transmission components, and others. Among these, the structural components segment held the largest market share of over 40%, by value, in 2017. This is mainly attributed to the increasing use of metal die casting in the manufacturing of structural components, such as shock towers, in automobiles.
    However, the high production and maintenance costs associated with die casting and fluctuations in the prices of the major metals used (aluminum and zinc) are likely to refrain the market growth during the forecast period.

    FIGURE 1 Global Automotive Metal Die Casting Market, by Application, 2017 (%)

    Source: Analysis
    Regional Analysis
    The global automotive metal die casting market has been studied across five key regions, including Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. The market in Asia-Pacific held the largest market share of more than half of the global market in 2017 and is projected to register the highest CAGR of over 9% during the review period. This is mainly attributed to the robust growth of the automotive industry in the developing economies of China, India, and Thailand, which is fueling the demand for automotive metal die cast components. Additionally, the rising concerns over the CO2 emissions and need to optimize fuel efficiency of automobiles are expected to boost demand for lightweight components and hence boost demand for automobile die casting in the region. Furthermore, the shift of production bases by the leading automobile OEM manufacturers into the region, primarily to China and India, is further expected to propel growth in the coming years.
    The North American market is estimated to reach USD 7,030 million by the end of 2023, wherein the key market driving factor is stringent regulations about CO2 emissions. The growing adoption of automotive metal die casting in the manufacturing of lightweight components used in premium automobiles.
    The Middle East & African market is estimated to register strong growth, registering a CAGR of over 8% to reach a market value of approximately USD 1,800 million by the end of 2023. This is primarily attributed to the growing emphasis by local governments in the region over the development of the transportation network and increasing incentives for OEMs to manufacture, assemble and, procure automotive components locally.

    Segmentation
    The global market has been classified by metal, process type, application, and region.
    By metal, the global market has been classified into aluminum, zinc, magnesium, and others.
    On the basis of process type, the global market has been categorized into gravity die casting, high-pressure die casting, low-pressure die casting, and others.
    Based on application, the global market has been divided into structural components, engine parts, transmission components, and others.
    The global automotive metal die casting market, by region, has been studied with respect to Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa.
    Key Players
    The key players operating in the global automotive metal die casting market are Dynacast (US), Endurance Technologies Limited (India), Nemak (Mexico), Rockman Industries Ltd (India), Sandhar (India), GF Casting Solutions AG (Switzerland), Buhler AG (Switzerland), Ryobi Limited (Japan), Shiloh Industries, Inc (US), Martinrea International, Inc (Canada), Tadir-Gan Group (Israel), Gibbs (US), PHB Corp. (US), and Eco die casting Co., Ltd (China), and Minda Corporation Limited (India), among others.
    Geographic Analysis
    The report offers a brief country-level analysis for the various regional markets, including:
    • North America
    o US
    o Canada
    • Europe
    o Germany
    o France
    o Russia
    o UK
    o Spain
    o Italy
    o Poland
    o Rest of Europe
    • Asia-Pacific
    o China
    o India
    o Japan
    o South Korea
    o Thailand
    o Rest of Asia-Pacific
    • Latin America
    o Brazil
    o Mexico
    o Argentina
    o Rest of Latin America
    • Middle East & Africa
    o GCC
    o Egypt
    o Turkey
    o South Africa
    o Rest of the Middle East & Africa

    Key Findings
    • In terms of value, the global automotive metal die casting market is projected to reach USD 46 billion by the end of 2023, registering a CAGR of over 8% during the forecast period, 2018—2023.
    • By metal, the aluminum segment held the largest market share in 2017 and is projected to reach USD 31 billion by the end of 2023 at a CAGR of over 8%
    • Based on process type, the high pressure die casting segment dominated the global market with approximately half of the market share in 2017 and is projected to reach USD 24 billion by the end of 2023.
    • On the basis of application, the structural components accounted for a market share of over 40% in 2017 and is estimated to reach USD 19 billion by the end of 2023.


    Intended Audience
    • Automotive metal die casting manufacturers
    • Traders and distributors of automotive metal die casting components/products
    • Potential investors
    • Raw material suppliers
    • Government, associations, and industrial bodies
    • End users
    DC–Description
    • die casting
    • aluminum die casting
    • zinc die cast
    • sand casting
    • structural components
    • electric vehicles