What is Global Automotive Cast Aluminum Market?
The Global Automotive Cast Aluminum Market is a vast and dynamic sector that plays a crucial role in the automotive industry. This market revolves around the production and distribution of cast aluminum parts used in the manufacturing of vehicles. Cast aluminum is a material that is highly valued in the automotive industry due to its lightweight properties and high heat resistance. These characteristics make it an ideal material for various automotive components, contributing to the overall performance and efficiency of vehicles. The market's value was estimated at US$ 48070 million in 2023, and it is projected to grow steadily, reaching an estimated value of US$ 57260 million by 2030. This growth is driven by the increasing demand for lightweight materials in the automotive industry, as well as the ongoing advancements in casting technologies.
Aluminum Alloy 319, Aluminum Alloy 383, Aluminum Alloy 356/356P, Others in the Global Automotive Cast Aluminum Market:
The Global Automotive Cast Aluminum Market is segmented into several categories based on the type of aluminum alloy used. These include Aluminum Alloy 319, Aluminum Alloy 383, Aluminum Alloy 356/356P, and others. Aluminum Alloy 319 is the most widely used type, accounting for nearly 60% of the market share. This alloy is known for its excellent casting and machining properties, making it a popular choice for various automotive applications. On the other hand, Aluminum Alloy 383 and 356/356P are also used extensively, especially in high-stress applications due to their superior strength and durability. Other types of aluminum alloys are also used, depending on the specific requirements of the automotive components being manufactured.
Powertrain, Vehicle Structures, E-Mobility Components, Others in the Global Automotive Cast Aluminum Market:
The Global Automotive Cast Aluminum Market caters to various areas within the automotive industry. These include Powertrain, Vehicle Structures, E-Mobility Components, and others. In the Powertrain sector, cast aluminum is used in the manufacturing of engine blocks, cylinder heads, and other critical components. Its lightweight properties contribute to improved fuel efficiency and reduced emissions. In Vehicle Structures, cast aluminum is used in the production of body panels, chassis, and other structural components, providing strength and durability while reducing the overall weight of the vehicle. In the E-Mobility Components sector, cast aluminum is used in the production of electric motor housings and battery enclosures, contributing to the overall performance and efficiency of electric vehicles. Other applications of cast aluminum in the automotive industry include brake components, suspension parts, and various interior and exterior fittings.
Global Automotive Cast Aluminum Market Outlook:
Looking at the market outlook for the Global Automotive Cast Aluminum Market, it's clear that this sector is set for steady growth. In 2023, the market was valued at a substantial US$ 48070 million. Fast forward to 2030, and it's expected to reach an impressive US$ 57260 million. This represents a Compound Annual Growth Rate (CAGR) of 2.5% during the forecast period from 2024 to 2030. The Aluminum Alloy 319 category is leading the way, holding a commanding 60% share of the market. This dominance is a testament to the alloy's superior casting and machining properties, which make it a preferred choice for a wide range of automotive applications.
| Report Metric | Details |
| Report Name | Automotive Cast Aluminum Market |
| Accounted market size in 2023 | US$ 48070 million |
| Forecasted market size in 2030 | US$ 57260 million |
| CAGR | 2.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Nemak, Ryobi, Ahresty, Georg Fischer, Guangdong Hongtu, IKD, Wencan, Paisheng Technology, Xusheng |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
