Aluminum Casting Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026 Tempered aluminum is known as cast aluminum. It is lightweight and is able to withstand high operating temperatures. The ability to cast complex shapes with low machining need is the major advantage of casting. Aluminum is preferred over steel and iron due to its superior mechanical properties. However, the high price of aluminum makes it necessary to mix it with magnesium, iron, and copper. The corrosion resistant properties of aluminum make it extremely useful to make cans and vessels, which can be used to store food & beverages. Request For Sample Copy of this Research Report :https://www.coherentmarketinsights.com/insight/request-sample/680 One of the major driving factors for aluminum casting market growth is the lightweight property of aluminum that contributes toward major cost savings in the automobile and aerospace industries. It is also used in construction, industrial, electrical, kitchenware, and many other sectors. A major challenge hindering market growth is the high cost of aluminum coupled with the cyclic rise and ebb of the automotive industry Die casting process is used for high volume production of aluminum. Great finish can be obtained by this process, hence requiring minimum machining. Aluminum molded in permanent mold casting is stronger than sand and die casting processes. Whereas, sand casting is economic for small quantities. The automobile and aerospace industries are the largest end users. Aluminum’s lightweight and high strength properties make it a prime commodity in these industries. Aluminum Casting Market Outlook Asia Pacific is the largest market for aluminum casting. This is due to the presence of some of the largest aluminum producing countries in this region. China, Australia, UAE, and India make up four of the top five aluminum producing countries in the world. The burgeoning automobile sector and proximity to the source have boosted the aluminum casting industry. Furthermore, there is currently a dearth of technical expertise in the aviation sector, but robust technological innovations in China is expected to boost the aviation market as well. For instance, in May 2017, China launched its first homemade jet known as C919 Europe and North America are the next largest markets due to the presence of lucrative automobile industry and major airline manufacturing companies such as Airbus, Boeing, Cessna, and Bombardier in these regions. Raw material aluminum is mainly imported from Asia Pacific and engineered as per needs on sit Latin America aluminum market has shrunken in recent years due to the slowdown of the economy in the region. Moreover, rising power costs has forced companies to invest elsewhere. According to the International Aluminum Institute (IAI), the regional production rate has halved from 2.70 million tons a year in 2008 to 1.33 million tons in 2015 In the Middle East, the UAE and Bahrain are the major aluminum mining countries. The largest aluminum producer in the Middle East region, Emirates Global Aluminum plans to list the company on the local stock exchange in order to raise funds. The company is valued at US$ 15 billion and seeks further investments to reduce the dependency of the kingdom on hydrocarbon revenue Africa is a nascent market for aluminum with lower production as compared to other regions. The largest producer in the region is Guinea. Consumption in the region is low and most of the manufactured aluminum is exported Aluminum Corporation of China Limited (CHALCO) agreed to buy 40% shares in Chinalco Shangai in 2017. This acquisition further consolidates its position in the region. It is the third largest alumina producer in the world. Some of the major players in the aluminum casting market are Alcoa Corporation, Aluminum Corporation of China Limited, Ryobi Limited, United Company Rusal, Arconic Inc., China Hongqiao Group Limited, Gibbs Die Casting Corp, Rio Tinto, Dynacast Charlotte, and Nemak S.A.B. de C.V. among others. For More Information:https://tinyurl.com/y53h7h4s About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: [email protected]
Aluminum Casting Market report categorizes global market on the basis of casting process, and end-user industries - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
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