North America Automotive Parts Magnesium Die Casting Market - Growth, Trends, Forecast (2017-2022)
The North America automotive parts magnesium die casting market is estimated to touch USD 1,301 million by 2021 from USD 620 million in 2016, growing at a CAGR of over 15.5% during 2017-2022.
Increased automation in the die casting industry spiked the productivity and a parallel demand for the former from the automotive industry is dragging the attention of automotive manufacturers towards highly durable die casting parts. The North American Die Casting Association (NADCA) being the main knowledge repository for the North American Die Casting Industry runs an annual conference where issues of die casting technology including magnesium metallurgy are discussed in detail. The International Magnesium Association (IMA) providing a forum for exchange of magnesium manufacturing, trade and technical information, assisting the growth of the market in the region.
Within North America, U.S is the largest market for automotive parts magnesium die casting market. Chicago White Metal Casting Inc., Continental Casting LLC, Twin City Die Casting Company, Magic Precision Inc., Meridian Lightweight Technologies, Morimura Bros Inc., Ryobi Die Casting Inc., Gibbs Die Casting Group and Georg Fischer Limited are some of the key players in the market. Meridian Products Limited is the world’s largest magnesium die caster.
Finite global resources, optimization of energy consumption and the associated reduction of CO2 emissions have become the priority of every government. And it is the automotive industry that is dragged into the spotlight, when the concept of emission reduction is brought up. Companies such are proto labs came up with their new Magnesium thixomolding, a type of semi-solid metal casting, which is expected to produce complex net-shape parts with thin walls, light weight and minimal porosity, and is considered safer and more environmentally friendly than magnesium die casting as such. Automotive industry has witnessed a dramatic growth over the past couple of years. However, it never restricted itself, pertaining to inviting new innovations. At present, the automotive manufacturers are striving to meet the targets for highly tensile chassis frames and strong automotive parts that are long standing, light weight and cost effective.
Automobile industry is highly dependent on the environmental protection agency regulations, owing to the high emissions by the automotive units. The move by EPA of raising the mile per gallons standards to 35.5 miles per gallon by 2016 and then 54.5 mpg by 2025 actually helped the die casting industry as the auto industry concluded the only way they can get to those mileage standards is by light weighting the vehicles.
The market is segmented based on the production process type, by application type and by geography type. In a nutshell, automobile makers are now focusing on collaborating with the part die casting manufacturers in order to produce fuel-efficient and lightweight automobiles.
Our Report Offerings
This report on North America automotive parts magnesiumdie casting market, analyzes the current market trends in U.S and Canada in detail. This report offers the technical aspects and economic data of the market and its forecast to the next 5 years (2015-2020). It also discusses the latest technologies in the North America automotive magnesiumdie castingalloys and parts that are under development and in research pipeline. This report provides the list of major players in the market and gives an in depth analyst perspective of what makes the products and strategies of these players stand out.
PDF E-mail From Publisher
Multi User License (2-5 Users) Fulfilled by Publisher