As the transportation industry is increasingly shifting its preference to lightweight and lower carbon emissions, the usage of aluminium castings is gaining notable importance for obvious reasons like high strength and infinitely recyclable. One of the distinguishing features of castings from other forms of aluminium is its ability to absorb large volumes of recycled aluminium produced from post-consumer scrap. Castings produced from recycled aluminium are used in mainstream automobile applications such as engines and wheels. Flexibility, fine surface finish, and high quality are some of the other factors that make aluminium castings popular in the automobile sector. It has been found that the average aluminium usage per car has grown significantly over the years and castings are the most widely used form.
In 2021, global aluminium castings usage was estimated at 19.6 million tonnes, with passenger vehicles accounting for nearly 52 per cent of the use. It is important to mention here that the global usage of aluminium castings in 2021 represented 21 per cent of the aggregated use of aluminium. Between 2011 and 2021, the usage of aluminium castings grew at a CAGR of about 4.4 per cent.
Given this significant growth of aluminium castings usage, the AlCircle team has launched a new report on “Future of the Global Aluminium Castings Industry - Market analysis and industry forecast to 2027” to evaluate the upcoming market trend.
This report offers analyses of global aluminium castings demand and usage across end-user sectors and regions. It mentions that the passenger car segment has used 10.4 million tonnes of aluminium castings in 2022 globally, accounting for 52 per cent of the total castings usage. However, by 2027, the paradigm is likely to shift, with passenger cars accounting for 51 per cent of global use. The report also finds that China is the major market of aluminium castings accounting for 37 per cent of the global usage in 2022, which by 2027 is estimated to rise to 38 per cent.
That’s not all. The report offers much other valuable information, which are as follows in a nutshell.
For the detailed Table of Contents, click here
The report “Future of the Global Aluminium Castings Industry - Market analysis and industry forecast to 2027” is now available in both Digital as well as Print format. Both the available options along with their pricing details are as follows:
To get your copy of the report, click here. For any further queries, reach us at booking@alcircle.com
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