Automotive Metal Die Casting Market Size to Reach USD 46,167.5 Million

Posted by freemexy on August 1st, 2019

The market for Automotive Metal Die Casing can expect to reach the valuation of USD 46,167.5 million by 2023, says Market Research Future (MRFR). The market is set to display a CAGR of 8.75% during the forecast period (2016-2023).aluminum die casting manufacturer

Metals dies are produced from a metal that has a melting point much higher compared to a molten metal being cast. After solidification of the molten metal at a quick rate, it takes the required shape inside the mold cavity. Die casting finds widespread use in manufacturing of multiple automotive components including crank cases, disc brakes, engine mounting, shock absorbers, cylinder heads, and others.

Automotive Metal Die Casting process is quick, reliable, as well as cost-effective and is used for producing large volumes of metal components, which are net-shaped with high dimensional stability and tolerance. The two primary types of pressure die casting are high-pressure die casting and low-pressure die casting. Among these, the high-pressure die casting process is comparatively superior based on its excellent dimensional tolerance, in addition to being economical for both larger and smaller volume production. Furthermore, it is vital aspect in the production of the main housing, compressor housing, clutch housing, transmission cover, front lever, filter head and master cylinders.
Having said that, fluctuations in the prices of raw materials could have a debilitating effect on the market growth. Yet, the increasing demand for Automotive Metal Die Casting for the production of battery casings in electric vehicles is deemed to present multitude of growth opportunities for the industry participants in the ensuing years.

Endurance Overseas Srl. (Italy) has made an acquisition of the complete equity stake in Fonpresmetal Gap SpA (Fonpresmetal). The latter is an aluminum die casting vendor in Italy. Following the acquisition, the Fonpresmetal’s name is now Endurance Castings SpA. As of now, the Endurance Group has nine manufacturing plants, with six of them located in Italy and other three based in Germany.

The Automotive Metal Die Casting Market is amassing huge gains with the rise in strict environmental regulations implemented by the Environmental Protection Agency (EPA). These agencies are making efforts to curb the CO2 emissions and also enhance technical workforce. These factors are bound to mold the market size favorably in the ensuing years.