France Automotive Parts Zinc Die Casting Market - Growth, Trends, and Forecast (2018 - 2023)
The increasing demand for light weight vehicles, in an attempt to reduce CO₂ emissions, is identified as one of the primary drivers for the growth of this market. European Commission has targeted to reduce the vehicle emissions to an average fleet emission of 175g CO2/km by 2017 and 147g CO2/km by 2020 for the light vehicle segment. Manufacturers were mandated to meet the emission targets of 175g CO2/km in 70% of the commercial vehicle fleet in 2014 and were expected to do so in 75% of their LCVs in 2015, 80% in 2016, and 100% of their fleet by 2017. As a result, major OEMs shifted their focus on manufacturing lightweight automobiles. In addition, the demand for sturdy, corrosion-resistant, and stable automotive components has driven the demand for aluminum, magnesium, and zinc die cast components.
The introduction of simulation-based castings is one of the key trends that will drive the growth of the die casting market, across the world, in the forthcoming years. The simulation-based casting process is used to produce components that are cost-effective, have high-precision, and are reliable. This casting process involves various benefits, one of which is that it ensures an easy and accurate fault detection. Simulation-based manufacturing results in reduced wastage and operational costs. Additionally, they can also predict defects and their location easily, and more precisely than the conventional method.
Zinc has become one of the major metals utilized in the automotive industry. Strength, ductility, and weight management in an automobile are made easy, by employing zinc die castings. The price of zinc raw material is expected to escalate over the next few years, which could be attributed to supply shortage caused due to the closure of one of the world’s largest zinc. Until the zinc industry puts up new mines in operation, a period of zinc shortage will exist, which will escalate the price of zinc raw material dramatically. This, in turn will result in the slow growth of the zinc parts die casting market.Major players: CASTWEL AUTOPARTS PVT LTD., DYNACAST, ENDURANCE GROUP, GIBBS DIE CASTING GROUP, KINETIC DIE CASTING COMPANY, MINO INDUSTRY USA, INC, amongst others.
Key Developments in the Market
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