Global Die Casting Market - Growth, Trends, and Forecast (2018 - 2023)
Increase in Automation in the Die Casting Industry has seen a Surge in Productivity
The die casting market has attracted the automotive industry, which is looking highly durable die cast parts. Industrial machinery and piping manufacturers are increasingly employing die-casting since the past few years. Aerospace, as well as defense industries are also increasingly using die-cast parts. The most preferred casting process is pressure die-casting, which has shown a significant amount of growth, while vacuum die-casting is expected to grow at a high CAGR in the next five years.
The technical workforce in the die-casting industry has greatly improved, which has led an overall improvement in the production quality. Associations, such as the NADCA are working to bring die casting training and facilities to universities to create a skilled workforce owing to the automation of die casting processes. In the automotive industry, agencies, such as the Environmental Protection Agency has demanded the lowering of emissions from vehicles, which can only be possible through light-weight vehicles. This is has helped boost production in the die-casting sector.
Asia-Pacific is the largest market for die-casting and globally accounted for over 58% share in 2017. Further growth is imminent in the Asia-Pacific magnesium alloy die casting market for many new start-up companies because of an increasing tendency of end-users towards lower production costs. Established companies are posing a great challenge in terms of technological, reliability and quality issues, which is leading to many smaller companies being merged or acquired by established companies.
Key Industry Players
Some of the key players in the market are: ENDURANCE GROUP, NEMAK, PACE INDUSTRIES, RYOBI DIE-CASTING, ZEN S.A., amongst others.
Reasons to Purchase this Report:
Current and future Global die casting market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Detailed study of the segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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