Report Ocean published the latest research report on the Die Casting market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Die Casting market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.
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The global die casting market size was US$ 61.1 billion in 2021. The global die casting market size is forecast to reach US$ 96.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.
Die casting is an automated casting method in which a liquid melt flows into a mold at a fast-filling speed (up to 540 km/h) and under high pressure (150 to 1200 bar). Typically, low-melting-point alloys are employed. Because, unlike sand casting, this casting process is particularly well suited to the series and bulk production of components. There are two types of die casting components: hot-chamber dies casting and cold chamber die casting. Prior to the casting process in both manufacturing techniques, the mold is sprayed with a release agent to guarantee that the subsequently cast item may withdraw easily from the mold.
The COVID-19 pandemic had a negative impact on the global market growth. The government worldwide imposed a lockdown in order to curb the spread of the COVID-19. As a result, a shortage of workforce and raw materials disturbed the supply of die casting components and has negatively influenced the market. Nevertheless, the gradual opening of production facilities and the introduction of vaccines for COVID-19 disease are forecast to recover the die casting market during the forecast period.
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Europe garnered the fastest growth in 2021 and is forecast to have lucrative growth in the market during the forecast period. The rising demand for fuel efficiency and the government’s emission norms drive the die casting market growth. With the growing demand for luxury automobiles, light metal castings, especially aluminum high-pressure die cast parts, fuel the regional market growth. In addition, increasing demand for lightweight auto parts in the automotive industry is likely to drive market growth in the region.
The leading prominent companies profiled in the global die casting market are:
The global die casting market segmentation focuses on Application, Process, Raw Materials, and Region.
Segmentation based on Raw Materials
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What factors are taken into consideration when assessing the key market players?
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