Global Aluminum Casting Market 2018-2022 | Increasing Use of Lightweight Materials in Various End-user Industries to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Dec 26, 2018--The global aluminum casting market is expected to post a CAGR of close to 6% during the period 2018-2022, according to the latest market research report by .
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Technavio has released a new market research report on the global aluminum casting market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the global aluminum casting market is the stringent regulations for environmental protection. Several countries across the world are forming stringent regulations regarding climate protection and carbon dioxide emissions. Members of United Nations Framework Convention on Climate Change reached a landmark agreement on 12 December 2015 known as The Paris Agreement, to fight climate change and to start actions and investments needed for a sustainable low carbon future. These stringent regulations are expected to boost the growth of the global aluminum casting market during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing use of lightweight materials in various end-user industries as one of the key emerging trends in the global aluminum casting market:
Global aluminum casting market: Increasing use of lightweight materials in various end-user industries
Aluminum is fast becoming the material of choice for many manufacturers looking to meet the challenging weight reduction goals without compromising on the strength requirements. Industries such as aerospace and automotive industries are specifically focusing on using lightweight materials on the aircraft and vehicles. Aluminum is gaining importance in the automobile industry as it has low specific gravity that assists in reducing the average weight of the automobiles. Hence, the increasing use of lightweight materials in various industries is expected to fuel the growth of the market.
“Apart from the stringent regulations for environmental protection, factors such as the growing use of aluminum casting in electric vehicles, and the increase in construction activities are expected to fuel the growth of the global aluminum casting market during the forecast period,” says a senior analyst at Technavio for research on metals and minerals.
Global aluminum casting market: Segmentation analysis
This market research report segments the global aluminum casting market by application (automotive, heavy machinery and industrial, aerospace and defense, and construction), by process (die casting, and permanent mold casting) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share of close to 58%, followed by the Americas and EMEA respectively. The APAC region will continue to dominate the market with the highest incremental growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 12/26/2018 04:13 AM/DISC: 12/26/2018 04:13 AM