Automotive Parts Magnesium Die Casting Market - Growth, Trends, and Forecast (2019 - 2024)

The global automotive parts magnesium die casting market has been segmented on the basis of production process type (pressure die casting, vacuum die casting, squeeze die casting, and semi-solid die casting), application type (body assemblies, engine parts, transmission parts, and others), and geography.

Market Snapshot

Market Summary - Automotive Parts Magnesium Die Casting
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

North America

Largest Market:

North America

Key Players:

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Market Overview

  • The global automotive parts magnesium die casting market is expected to register a CAGR of 8.47% during the forecast period, 2019-2024. The application of magnesium in the automotive industry started in the early 19th century. It is employed in vehicles, for weight reduction, with 10% more effective results as compared to aluminum.
  • Some of the major factors driving the growth of the market are the increasing installation of magnesium die cast components in passenger and luxury car segments, a rising establishment of new magnesium molding machinery, increasing automation in the die casting industry (resulting in rise in productivity), and high demand from the automotive industry, drawing attention of the automotive manufacturers toward highly durable die casting parts.
  • Using magnesium in automotive parts provides certain benefits, for instance, automotive parts made from magnesium are 75% lighter than steel, 33% lighter than aluminum, possess high-impact resistance, high strength to weight ratio, are 100% recyclable, and have an abundant material supply, with excellent dimensional stability. Automakers are utilizing magnesium for designing and manufacturing a wide range of products, such as instrument panel frames, steering wheels, seat frames, gearbox, airbag housings, brackets, front-end carriers, engine blocks, and structural components.

Scope of the Report

The automotive parts magnesium die casting market report covers the growing adoption of magnesium parts in the automotive sector, and the technological advancements. The global automotive parts magnesium die casting market has been segmented on the basis of production process type, application type, and geography.

By Production Process Type
Pressure Die Casting
Vacuum Die Casting
Squeeze Die Casting
Semi-solid Die Casting
By Application Type
Body Assemblies
Engine Parts
Transmission Parts
Other Application Types
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Egypt
United Arab Emirates
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Increased Application in Body Assemblies

Key body structure applications, such as floor rails, shock towers, and pillars, are now being manufactured, using high-pressure non-ferrous castings. The use of magnesium in automotive body parts is limited, but it has recently been observed to be expanding.

GM has been employing a single-piece die cast roof frame, since the introduction of C-5 Corvette in 1997. Cadillac XLR roadster's retractable hardtop convertible roof and top frame employ magnesium alloys. SUVs and Ford F-150 trucks are coated with magnesium castings, for the vehicles' radiator support, and Dodge Viper is coated with one-piece magnesium front-of-dash die casting. In Europe, for body panel applications, the German auto giants, Volkswagen and Mercedes, have employed thin-wall magnesium die castings. Thin-wall casing application constitutes the major part of magnesium usage, in the automotive industry. Thin-wall die castings, such as closure inners, can often offset the material cost penalty of magnesium, over steel sheet metal construction, due to part consolidation.

The first magnesium die cast closure to ever meet 55 mph rear crash requirements is used in lift gate inner panel, and the part is found in 2010 Lincoln MKT. The key aspect to manufacturing thin-wall castings, which are approximately less than 2mm, lies in the design of casting, using proper radii, and smooth die-filling of the ribs to stiffen the parts.

Thus, depending on the application and the area of employment, magnesium die casting components are gaining popularity within the body part segment, and their usage is expected to increase during the forecast period.

By Application Type

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North America - Leading the Market

North America is a matured market for die casting, around the world. The maturity of this market, in the region, is mainly due to the large-scale domestic production, government initiatives, and availability of resources.

The new Ford Explorer, which was considered the truck of the year, in North America, uses magnesium seat frames. The strategic use of magnesium parts enabled the Ford Motor Company to deliver quality, fuel efficiency, and reliability, to its customers. Magnesium, being the lightest material, is now becoming a key element for powertrain and body applications in the vehicles produced by leading automakers, such as Ford, Lincoln, and others.

The United States has one of the largest automotive markets, in the world. It is home to over 13 major auto manufacturers. With an average of eight million passenger vehicle production, per annum, and regulations pertaining to the emission standards, automakers are sourcing components for manufacturing lightweight vehicles, by employing alloy and die-cast parts, which, in turn, is driving the market for the overall automotive parts magnesium die casting, in the country.

Within the North American region, the United States is the major market, accounting for over 86.14% of the regional market share. Canada accounted for 13.72% of the market, in 2017. The market is expected to grow considerably, with the presence of global players, such as Meridian Lightweight Technologies.

Regional Chart

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Competitive Landscape

Meridian Light Weight Technologies, Rima, Pace Industries, Shiloh, GF Automotive, Gibbs Die Casting (Koch Enterprises), and Dynacast are the some of the major players in the global automotive parts magnesium die casting market.

The global market for automotive parts magnesium die casting is highly consolidated. Meridian Light Weight Technologies emerged as the single largest supplier of magnesium automotive die cast components, in 2018, followed by Brazil-based Rima. The key players in the market have focused their revenues on R&D, to come up with better production processes and alloys. This strategy will assist in the production of premium quality die cast parts, for the global automotive and industrial sectors. The key players have also expanded their reign, globally, by various mergers, expansions, and acquisitions.

Major Players

  1. Meridian Lightweight Technologies
  2. Georg Fischer AG
  3. Shiloh Industries Inc.
  4. Pace Industries
  5. Gibbs Die Casting Group

* Complete list of players covered available in the table of contents below

Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Current Market Scenario

    2. 4.2 Technology Trends

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Market Drivers

    5. 4.5 Market Restraints

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Production Process Type

      1. 5.1.1 Pressure Die Casting

      2. 5.1.2 Vacuum Die Casting

      3. 5.1.3 Squeeze Die Casting

      4. 5.1.4 Semi-solid Die Casting

    2. 5.2 By Application Type

      1. 5.2.1 Body Assemblies

      2. 5.2.2 Engine Parts

      3. 5.2.3 Transmission Parts

      4. 5.2.4 Other Application Types

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Egypt

        3. 5.3.5.3 United Arab Emirates

        4. 5.3.5.4 Saudi Arabia

        5. 5.3.5.5 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Mergers and Acquisitions

    3. 6.3 Company Profiles

      1. 6.3.1 Brabant Alucast

      2. 6.3.2 Chicago White Metal Casting Inc.

      3. 6.3.3 Continental Casting LLC

      4. 6.3.4 Georg Fischer Limited

      5. 6.3.5 Gibbs Die Casting Group

      6. 6.3.6 Magic Precision Inc.

      7. 6.3.7 Meridian Lightweight Technologies

      8. 6.3.8 Morimura Bros.

      9. 6.3.9 Tadir-Gan Group

      10. 6.3.10 Pace Industries

      11. 6.3.11 Shiloh Industries

      12. 6.3.12 Sundaram-Clayton Ltd

      13. 6.3.13 Twin City Die Casting Company

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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