Market Size of Die Casting Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 82.86 Billion |
| Market Size (2029) | USD 112.14 Billion |
| CAGR (2024 - 2029) | 6.24 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Die Casting Market Analysis
The Die Casting Market size is estimated at USD 82.86 billion in 2024, and is expected to reach USD 112.14 billion by 2029, growing at a CAGR of 6.24% during the forecast period (2024-2029).
The COVID-19 outbreak hit the manufacturing industry adversely. The disruptions were caused in the supply chain as several major economies of the world were in lockdown. All the manufacturing units and OEM plants were forced to halt production and operations during this period. With the recovery of economies, the demand returned to the market witnessing huge demand for die-cast parts in the automotive industry as the consumer preference changed to lightweight vehicles. The trend is expected to continue and drive market growth.
Over the medium term, the market studied is largely driven by supply chain complexities in the die-casting industry, expanding automotive market, increasing penetration of die-casting parts in industrial machinery, growing constructional sector, and employing aluminum casts in electrical and electronics. CAFÉ standards and EPA policies to cut down automobile emissions and increase fuel efficiency are driving the automakers to reduce the weight of the automobile by employing lightweight non-ferrous metals. Subsequently, employing die-cast parts as a weight reduction strategy is acting as a major driver for the former market in the automotive segment.
Rising demand for aluminum die-casting parts in the electrical and electronics industry owing to its high thermal conductivity is likely to drive growth during the forecast period. Subsequently, employing die-cast parts as a weight reduction strategy is acting as a major driver for the former market in the automotive segment. However, a crunch in raw material supply, volatility in raw material prices, and environmental regulations on emissions for the metallurgy industries are acting as major barriers to market growth.
The Asia-Pacific region is anticipated to hold the largest market share in the die-casting market due to the rise in demand for automobiles in countries such as China and India and the rise in the use of aluminum die-casting for various applications. North America is also expected to witness significant growth in the aluminum die-casting market due to growing output from the construction and automotive sectors.
Die Casting Industry Segmentation
Die casting is an automated casting process for producing metal parts of a particular shape are produced by pouring molten material into a mold under pressure.
The Die Casting Market is Segmented by Application (Automotive, Electrical and Electronics, Industrial, and Other Applications), Process (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, and Other Processes), Raw Material (Aluminum, Magnesium, and Zinc), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
| By Application | |
| Automotive | |
| Electrical and Electronics | |
| Industrial | |
| Other Applications |
| By Process | |
| Pressure Die Casting | |
| Vacuum Die Casting | |
| Squeeze Die Casting | |
| Other Processes |
| By Raw Material | |
| Aluminum | |
| Maginesium | |
| Zinc |
| Geography | |||||||||||
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Die Casting Market Size Summary
The die casting market is poised for significant growth, driven by the increasing demand for lightweight and high-conductivity components across various industries. The automotive sector, in particular, is a major contributor to this growth, as manufacturers shift towards using aluminum die-cast parts to enhance fuel efficiency and meet stringent emission standards. The recovery from the COVID-19 pandemic has further accelerated demand, with a notable shift in consumer preference towards lightweight vehicles. The market is also experiencing expansion due to the rising penetration of die-casting parts in industrial machinery and the construction sector, as well as the growing use of aluminum casts in the electrical and electronics industries. However, challenges such as raw material supply constraints, price volatility, and environmental regulations pose potential barriers to market expansion.
Regionally, the Asia-Pacific area is expected to dominate the die casting market, fueled by the burgeoning automotive industry in countries like China and India, and the increasing application of aluminum die-casting in various sectors. North America is also anticipated to witness substantial growth, driven by the construction and automotive sectors. The market is characterized by strategic activities such as mergers, acquisitions, and partnerships among key players aiming to enhance their global presence and product offerings. Companies are investing in new production facilities and expanding their technical capabilities to meet the rising demand for aluminum die-casting parts. The ongoing advancements in automotive technologies and the focus on lightweight materials further underscore the market's potential for continued growth during the forecast period.
Die Casting Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Billion)
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2.1 By Application
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2.1.1 Automotive
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2.1.2 Electrical and Electronics
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2.1.3 Industrial
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2.1.4 Other Applications
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2.2 By Process
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2.2.1 Pressure Die Casting
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2.2.2 Vacuum Die Casting
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2.2.3 Squeeze Die Casting
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2.2.4 Other Processes
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2.3 By Raw Material
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2.3.1 Aluminum
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2.3.2 Maginesium
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2.3.3 Zinc
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 France
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2.4.2.3 Germany
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2.4.2.4 Italy
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2.4.2.5 Russia
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 India
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2.4.3.3 Japan
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2.4.3.4 Australia
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2.4.3.5 Thailand
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2.4.3.6 Malaysia
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2.4.3.7 Indonesia
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2.4.3.8 South Korea
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2.4.3.9 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 South Africa
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2.4.5.2 Turkey
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2.4.5.3 Rest of Middle-East and Africa
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Die Casting Market Size FAQs
How big is the Die Casting Market?
The Die Casting Market size is expected to reach USD 82.86 billion in 2024 and grow at a CAGR of 6.24% to reach USD 112.14 billion by 2029.
What is the current Die Casting Market size?
In 2024, the Die Casting Market size is expected to reach USD 82.86 billion.
