This industry research report identifies Alcoa, Dynacast, Hitachi Metals, Minerals Technologies, and Precision Castparts as the key vendors in the global non-ferrous castings market. A comprehensive analysis of this market is also presented by metal type (aluminum, copper, zinc, magnesium, and others), by application (automobiles, electrical and construction, industrial machinery, and others), and by geography (APAC, Europe, North America, and ROW).
Overview of the global non-ferrous castings market
Research analysis on the global non-ferrous castings market identifies that the increase in simulation -based castings will be one of the major factors that will have a positive impact on the growth of the market. The research analysts predict that this market will grow at a CAGR of 6% by 2021. Simulation-based casting technology is widely used in metal casting industries and foundries. It is a virtual software that gives a simulated casting process, such as mold filling, cooling, and solidification, with respect to direction and time. Based on the needs of end-users, non-ferrous casting manufacturers adopt many advanced technologies such as simulation-based casting technology. The requirement for casting, with precise dimensions, size, and weight, compels non-ferrous metal casting manufacturers to use simulation-based castings. These prototypes also assist in lowering the operating costs and decreasing wastage. Such advantages will drive the utilization of simulation-based casting, which in turn, will trigger the demand for non-ferrous castings in major end-user segments, such as the automotive industry.
In terms of geographic regions, APAC will be the major revenue contributor to the non-ferrous castings market throughout the forecast period. The increased utilization of non-ferrous castings in the major end-user industries, such as electrical and construction and industrial machinery and the significant economic growth of major countries, will drive the growth of the market in this region. Additionally, the rising demand for motor vehicles that has boosted the demand for casting components from automobile manufacturers, will also fuel the market’s growth prospects in this region.
Competitive landscape and key vendors
The non-ferrous castings market consists of major vendors and these vendors have a wide presence in APAC. Key vendors in this market have their production facilities in developing countries and in the US. The competitive environment in the market will increase over the next five years, with the rise in extension of product applications in terms of innovation in technology. M&A activities and joint ventures due to the increase in demand from automobile and industrial machinery will also intensify the market’s competitive environment.
Segmentation by metal type and analysis of the non-ferrous castings market
Aluminum
Copper
Zinc
Magnesium
During 2016, the aluminum metal type segment accounted for the major shares of the non-ferrous castings market. Factors such as the rising demand from the automotive industry and the demand for aluminum to manufacture parts for small appliances, will contribute to the growth of this industry segment in the coming years.
Segmentation by application and analysis of the non-ferrous castings market
Automobiles
Electrical and construction
Industrial machinery
According to this market research report, the automobiles segment will hold the maximum share of the non-ferrous castings market until 2021. Non-ferrous casting products are widely used in the automotive industry due to their lightweight, cost, and easy to manufacture techniques. The installation of new capacities and the expansion of the existing automobile industries will add to the growth of the market in the coming years.
Overview of the global non-ferrous castings market
Research analysis on the global non-ferrous castings market identifies that the increase in simulation -based castings will be one of the major factors that will have a positive impact on the growth of the market. The research analysts predict that this market will grow at a CAGR of 6% by 2021. Simulation-based casting technology is widely used in metal casting industries and foundries. It is a virtual software that gives a simulated casting process, such as mold filling, cooling, and solidification, with respect to direction and time. Based on the needs of end-users, non-ferrous casting manufacturers adopt many advanced technologies such as simulation-based casting technology. The requirement for casting, with precise dimensions, size, and weight, compels non-ferrous metal casting manufacturers to use simulation-based castings. These prototypes also assist in lowering the operating costs and decreasing wastage. Such advantages will drive the utilization of simulation-based casting, which in turn, will trigger the demand for non-ferrous castings in major end-user segments, such as the automotive industry.
In terms of geographic regions, APAC will be the major revenue contributor to the non-ferrous castings market throughout the forecast period. The increased utilization of non-ferrous castings in the major end-user industries, such as electrical and construction and industrial machinery and the significant economic growth of major countries, will drive the growth of the market in this region. Additionally, the rising demand for motor vehicles that has boosted the demand for casting components from automobile manufacturers, will also fuel the market’s growth prospects in this region.
Competitive landscape and key vendors
The non-ferrous castings market consists of major vendors and these vendors have a wide presence in APAC. Key vendors in this market have their production facilities in developing countries and in the US. The competitive environment in the market will increase over the next five years, with the rise in extension of product applications in terms of innovation in technology. M&A activities and joint ventures due to the increase in demand from automobile and industrial machinery will also intensify the market’s competitive environment.
Segmentation by metal type and analysis of the non-ferrous castings market
Aluminum
Copper
Zinc
Magnesium
During 2016, the aluminum metal type segment accounted for the major shares of the non-ferrous castings market. Factors such as the rising demand from the automotive industry and the demand for aluminum to manufacture parts for small appliances, will contribute to the growth of this industry segment in the coming years.
Segmentation by application and analysis of the non-ferrous castings market
Automobiles
Electrical and construction
Industrial machinery
According to this market research report, the automobiles segment will hold the maximum share of the non-ferrous castings market until 2021. Non-ferrous casting products are widely used in the automotive industry due to their lightweight, cost, and easy to manufacture techniques. The installation of new capacities and the expansion of the existing automobile industries will add to the growth of the market in the coming years.