Die Casting Market Size, Share, Opportunities, And Trends By Material (Aluminum, Magnesium, Zink, Others), By Application (Automotive, Electronics And Electric, Aerospace And Defense, Medical, Others), And By Geography - Forecasts From 2023 To 2028

Market Overview:

Die casting is an automated casting technique that produces metal pieces of a certain shape by pressurizing molten material into a predetermined shape. Compared to plastic injection moldings of comparable dimensions, die-cast pieces are more grounded. Withing so many applications, the automotive industry has seen significant growth over the years. Die casting is used in the automotive sector for many different applications. Die casting is the ideal process for producing the numerous metal pieces that are required to be cast into precise shapes for the majority of cars. Aluminium and zinc are the two metals used in casting processes the most frequently. According to the most recent data for 2021, there were 5% more new vehicle registrations in the UK (Source: gov. UK). Rising auto sales and the automotive industry's increased focus on producing lightweight metals are driving up demand for die-casting equipment.

Growth factors:

• Among all segments, aluminium die-casting will have the largest share.

The lightweight alloy aluminum has a high degree of dimensional stability. To produce intricate shapes and designs with a thin wall section, aluminum dies casting is a common production procedure. As a result, they are a widely used metal in numerous industries. Over the years, more and more industrial applications have seen an increase in the need for aluminium high-pressure die-casting parts. In the Asia-Pacific area, where about 37.08 million tons of refined aluminium were produced in 2020, China produced most of this metal (Source: nrcan.gc.ca). Due to the region's expanding aluminium production and consumption, significant advancements are expected to occur in both the Asia-Pacific region and Europe.

• Innovation in the pressure die-casting market will dominate the growth

Pressure die-casting technology is always developing to stay up with the most recent business developments. As a result, new die lubricant technologies are being developed and are being introduced into the die-casting market. For Instance, A team of scientists from the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), India, created a steel alloy powder manufacturing technology in June 2022 that may be used to create effective cooling channels for pressure die casting. This can lengthen the tool's useful life, increase the casted components' quality, and decrease the number of casting-process rejects. Thanks to these new technologies, casting machines can produce castings of higher quality and complexity at higher die temperatures, which also shortens the time that machines need to be shut down for maintenance. As a result, die-casting facilities have increased productivity.

• Consumer electronics rising popularity will fuel growth.

As demand for smartphones, artificial intelligence, and voice recognition technology rises, as do the replacement cycles and falling prices of numerous electronic gadgets, the consumer electronics business is expanding. Die casting is an efficient way to facilitate the manufacturing of large numbers of precise parts, particularly for large solutions in applications that call for distinctive shapes that are in line with the needs of the electronics industry. The industry of die casting experiences a similar response to the expanding demand for electronics. For instance, the best electronics engineering and manufacturing business in India, VVDN Technologies, continued its growth in November 2021 by constructing a new die-casting plant in Manesar, Haryana. Additionally, it has begun the full design, development, and production of "Make in India" tablets for domestic and international OEMs and clients. This facility will enhance the company's ability to produce several types of tablets, laptops, all-in-one PCs, etc.

Key Developments:

• June 2022: The first green castings for Volvo Group's engines were introduced in India. This might result in 210 million tons of yearly CO2 emission reductions throughout Global Foundries, assuming the industry adopts this strategy. Brakes India will manufacture these Green Castings using waste, alloys, and raw materials that are completely devoid of radioactive elements.
• November 2021: The world's toughest die-casting equipment is introduced by Bühler. As the need for bigger, more intricate parts in the automobile industry is rising, Bühler has further expanded its portfolio with the Carat 840 and the Carat 920. The Carat 840 and Carat 920 designs significantly improve the quality of these intricate, thin-walled parts, which call for a highly effective and precise injection unit as well as a uniform locking force application.
• November 2021: Jackson Die Cast, a factory for aluminum high-pressure die casting, has been purchased by Pace Sectors from Metal Technologies of Indiana. Pace Industries is a producer of bespoke die casting, engineering, and production for numerous industries. With the addition of JDC in Jackson, Tennessee, Pace Industries has expanded its already substantial footprint throughout the United States and Mexico. The plant provides key competencies in machining, assembly, and aluminum die cast and trim activities that perfectly complement and broaden the Pace capabilities offering.

COVID-19 Impact:

Manufacturing activities were significantly impacted by the COVID-19 epidemic, and the market experienced a downturn as a result of global trade restrictions and supply chain disruptions. It started as a human health issue and was seen as a serious threat to international trade, the economy, and the financial system. Due to the lockdown brought on by the COVID-19 epidemic, the manufacture of cars and electronics has been halted, which has had a severe effect on the market. However, consistent growth is anticipated during the predicted period thanks to the global recovery of economic activity.

Die Casting Market Scope:

Segmentation:

• By Material
  • Aluminum
  • Magnesium
  • Zink
  • Others
• By Application
  • Automotive
  • Electronics and Electric
  • Aerospace and Defense
  • Medical
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • Isreal
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others