The Global Aluminum Die Casting market is to grow at a CAGR of 11.89 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need for superior-quality products. The Global Aluminum Die Casting market has also been witnessing the increase in outsourcing of manufacturing activities to the APAC region. However, the need for high initial investment could pose a challenge to the growth of this market.
Since the recent global economic recession, there has been steady growth in the economies of several Asian countries including China and India. This has paved the way for the emergence of several cost-driven manufacturing companies. Several companies based in the Americas and the EMEA region are increasingly outsourcing their manufacturing and production work to low-cost manufacturing companies in developing countries across the APAC region.
In addition, several global companies have started setting up their manufacturing plants in these countries to take advantage of the availability of low-cost skilled personnel and abundant raw materials. Further, because of the threat of natural calamities such as earthquakes and tsunamis in Japan, several production facilities are being shifted from Japan to other countries in Asia, such as India, China, and Singapore. Thus, it is expected that there will be an increase in investment by both domestic and international vendors to increase their market presence in the APAC region and hence their profitability.
The increasing need for superior-quality products is one of the major factors driving the growth of the Global Aluminum Die Casting market. Aluminum die casting is very cost effective and offers increased ease toward development of products with complex shapes and specifications. It also allows dimensional stability in complex shapes and thin surfaces, which ensures the development of high-precision products. Further, aluminum is a very lightweight non-ferrous metal which has high corrosion resistance as well as high thermal and electricity-conducting capabilities. Thus, the effective adoption of aluminum die casting enables the development of superior-quality products with increased dimensional accuracy, (with desired geometry) enabling the products to compete in the international market.
The key vendors dominating this market space are Alcoa Inc., Ryobi Ltd., Gibbs Die Casting Corp., and Dynacast Inc. The other vendors mentioned in the report are Alcast Co., Alcoa Howmet Castings, Bodine Aluminum Inc., Consolidated Metco Inc., Contech US LLC., Honsel GmbH and Co. KG, Intermet Corp., Kaiser Aluminum Corp., Leggett & Platt Inc., Los Angeles Die Casting Co., Rio Tinto Alcan Inc., and Shanghai Cosmopolitan Automobile Accessory Co. Ltd.
For more information on the Industrial market, please click here: Global aluminium die casting market
For more information on the Industrial market, please click here: Industrial Reports
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.