Aluminum castings are hollow shapes created for the sole purpose of the manufacture of components in any customized shape. Applications in end-use industries such as fabrication and automotive can beckon its use highly. The global aluminum castings market report by Market Research Future (MRFR) highlights pertinent points in the form of drivers, challenges, and trends in conjunction with predictions for the period of 2017 to 2023 (forecast period).
Martinrea Honsel, Kaiser Aluminum, Rockman Industries Ltd., Gibbs Die Casting Corp, Endurance Technologies, Ryobi Limited, Nemak S.A.B. de C.V., Rio Tinto, Arconic Inc., Alcoa Corporation, Alcast Technologies Ltd., Aluminum Corporation of China Limited, and Dynacast Charlotte are major players of the global aluminum castings market.
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The global aluminum castings market report is segmented by end-user industry and process.
End-user industries covered in the report are transportation, building construction, industrial, and others. The transportation segment held the lion’s share of the global aluminum castings market in 2017. Heavy demand for aircraft and vehicles can bolster the growth of the segment. Popularity of sports vehicles made possible by events, rallies, and races will spur the demand for the production of sports vehicles and in turn the aluminum castings market demand. On the other side, the building construction segment is deemed to exhibit the highest CAGR during the forecast period.
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Geographically, the global aluminum castings market covers Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East Africa (MEA).
North America held the dominant position in the global aluminum castings market in 2017 due to the production of utility and sports vehicles. Environmental regulations by governments have led to automotive manufacturers scrambling to develop lightweight components to adhere to policies. Passenger cars are required to reach a fuel economy target of 54.5 miles per gallon by 2026 to curb the emission levels of greenhouse gases.
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