UK Automotive Parts Magnesium Die Casting Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 34.67 Million |
| Market Size (2029) | USD 58.10 Million |
| CAGR (2024 - 2029) | 8.98 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UK Automotive Parts Magnesium Die Casting Market Analysis
The UK Automotive Parts Magnesium Die Casting Market size is estimated at USD 34.67 million in 2024, and is expected to reach USD 58.10 million by 2029, growing at a CAGR of 8.98% during the forecast period (2024-2029).
- The COVID-19 pandemic negatively impacted the market studied as initial lockdowns and travel restrictions resulted in low demand for car rental services. However, post-pandemic, with ease of restrictions, the demand is expected to restore back during the forecast period.
- Manufacturing operations were significantly affected by the COVID-19 pandemic, and the market experienced a slowdown as a result of supply chain disruptions and global trade restrictions. However, the market studied is anticipated to experience steady growth during the forecast period as global economic activity resumes.
- Owing to the high demand for automobiles in the region, the United Kingdom is one of the largest markets for automobiles in the world. The presence of leading automobile manufacturers, as well as component manufacturers, is driving growth in the region. However, because of the ongoing trade war between the United States and China, the economy is expected to be heading toward a recession, and automobile sales are expected to witness a downfall for a couple of years until the end of trade tensions.
- The increase in the adoption of lightweight ferrous materials to reduce the weight of the automobile, majorly driven by the stringent policies imposed by CAFÉ standards to cut emissions and increase the fuel efficiency of the vehicle, is driving growth in the market.
- Rules imposed by OSHA and NADCA policies to improve the technical workforce are expected to improve production standards in the die-casting industry and will boost the UK Automotive Parts Magnesium Die Casting Market in the coming year.
UK Automotive Parts Magnesium Die Casting Market Trends
Stringent Emission Norms Result In The Demand For Lightweight Vehicles With Better Fuel Efficiency
- The automotive industries in major economies across the United Kingdom have initiated major decarbonization drives and programs to reduce vehicular emissions significantly. This leads to large-scale adoption of electric vehicles, hybrid vehicles, and other new energy vehicles in developed regions. Significant investments in electric vehicle infrastructure development can be observed in developing countries like India. The factors above lead to the growing adoption of lightweight materials, such as magnesium, by the automotive industry.
- The European Union has set the carbon footprint limit for new vehicles at 95 g/km from 2021. However, European automakers have been slow in adopting new rules, and the carbon footprint for many new automotive models is higher than the specified limit.
- In November 2022, the commission presented a Euro 7 standards proposal to reduce air pollution from new motor vehicles sold in the EU to meet the European green deal's zero-pollution ambition while keeping vehicles affordable for consumers and promoting Europe's competitiveness.
- The stated factors provide a significant opportunity for vehicle manufacturers to adopt lightweight materials such as magnesium to attain the specified emission goals. The European Union is also contemplating the Euro 7 standards to achieve climate targets of 2030.
Growth In United Kingdom Industrial Sector
- The UK industrial sector witnessed a rebound post-Covid-19 pandemic due to steady improvement in factory output and a resurgence in gas and oil production.
- Companies such as Kemlows, Norfran Ltd, Daften, MRT Castings, Carlton Die Castings, and Dynacast are slowly expanding their product range in order to strengthen their market share in the region. The demand for fuel efficiency and the government's emission standards are driving the UK magnesium die-casting market's growth.
- The total number of metal casting plants in the United Kingdom was nearly 380, of which nearly 200 were non-ferrous casting plants. With the increasing demand for luxury automobiles, light metal castings, especially high-pressure die-casted parts, are anticipated to gain prominence in the region.
- Among one-third of foundries, i.E., 70% of them observed their die-casting machines' capacity utilization at less than 70%, while the remaining observed capacity utilization at over 90%.
- During the COVID-19 pandemic, the foundry industry in the country saw overall positive growth owing to the increasing infrastructure projects, like high-speed rail. Additionally, the demand for lightweight auto parts from the automotive industry is likely to drive the foundry industry to invest and adopt more advanced die-casting machinery (CNC machines) in the parts manufacturing process.
UK Automotive Parts Magnesium Die Casting Industry Overview
The United Kingdom market for automotive parts magnesium die casting is highly Fragmented. Meridian Light Weight Technologies, Pace Industries, Shiloh Industries, Inc., Georg Fischer AG, Gibbs Die Casting (Koch Enterprises), and Dynacast are some of the major players in the global automotive parts magnesium die casting market.
UK Automotive Parts Magnesium Die Casting Market Leaders
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Gibbs Die Casting
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Pace Industries
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Shiloh Industries
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George Fischer
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Meridian Lightweight Technologies
*Disclaimer: Major Players sorted in no particular order
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UK Automotive Parts Magnesium Die Casting Market News
- February 2023: Pace Industries LLC, a provider of aluminum, zinc, and magnesium die casting, announced it will expand manufacturing operations at its facility in Jackson, Tenn. The USD 2.8 million project is expected to create 49 jobs.
- May 2022: GF Casting Solutions, a division of GF, Schaffhausen, and the Bocar Group, signed an agreement to offer specialized products and services worldwide. The collaboration helped to develop and invest in new technologies and services to support customers in North America, Europe, and Asia.
UK Automotive Parts Magnesium Die Casting Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increasing Vehicle Production
4.1.2 Advantages Of Magnesium Die Casting
4.2 Market Restraints
4.2.1 Limited Design Flexibility
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles
6.2.1 Brabant Alucast
6.2.2 Chicago White Metal Casting Inc.
6.2.3 China Precision Diecasting
6.2.4 Continental Casting LLC
6.2.5 George Fischer Ltd.
6.2.6 Gibbs Die Casting Group
6.2.7 Kinetic Die Casting
6.2.8 Magic Precision Inc.
6.2.9 Meridian Lightweight Technologies
6.2.10 MK Group Of Companies
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Electric Vehicle (EV) Market Growth
7.2 The Adoption Of Advanced Manufacturing Technologies, Such As Robotics, Automation, And Simulation Software, Can Enhance The Efficiency And Quality Of Magnesium Die Casting Processes
UK Automotive Parts Magnesium Die Casting Industry Segmentation
Magnesium die casting is a manufacturing process that involves the injection of molten magnesium into a custom-designed mold under high pressure. It is a popular method for producing intricate and complex-shaped components with high dimensional accuracy and surface finish. The process utilizes the unique properties of magnesium, such as its lightweight, high strength-to-weight ratio, good heat dissipation, and excellent corrosion resistance.
The UK automotive parts magnesium die casting market is segmented by production process and application type. By production process, the market is segmented into pressure die casting, vacuum die casting, squeeze die casting, and semi-solid die casting. By application type, the market is segmented into engine parts, transmission components, body parts, and other application types.
The report offers market sizes and forecast in value (USD) for all the above segments
UK Automotive Parts Magnesium Die Casting Market Research FAQs
How big is the UK Automotive Parts Magnesium Die Casting Market?
The UK Automotive Parts Magnesium Die Casting Market size is expected to reach USD 34.67 million in 2024 and grow at a CAGR of 8.98% to reach USD 58.10 million by 2029.
What is the current UK Automotive Parts Magnesium Die Casting Market size?
In 2024, the UK Automotive Parts Magnesium Die Casting Market size is expected to reach USD 34.67 million.
Who are the key players in UK Automotive Parts Magnesium Die Casting Market?
Gibbs Die Casting, Pace Industries, Shiloh Industries, George Fischer and Meridian Lightweight Technologies are the major companies operating in the UK Automotive Parts Magnesium Die Casting Market.
What years does this UK Automotive Parts Magnesium Die Casting Market cover, and what was the market size in 2023?
In 2023, the UK Automotive Parts Magnesium Die Casting Market size was estimated at USD 31.56 million. The report covers the UK Automotive Parts Magnesium Die Casting Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the UK Automotive Parts Magnesium Die Casting Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
UK Automotive Parts Magnesium Die Casting Industry Report
Statistics for the 2024 UK Automotive Parts Magnesium Die Casting market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. UK Automotive Parts Magnesium Die Casting analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
