The aluminum casting market is expected to observe robust expansion by 2027 primarily owing to prominent product utilization in the automotive sector.

Aluminum casting refers to a method of fabricating high-quality and high-tolerance parts by pouring molten aluminum into an accurately designed and precision engineered mold, die, or form. It is considered an efficient technique for producing intricate, complex, and detailed parts that fit the specifications of the original design, thereby supporting product uptake across diverse sectors. Notably, the lightweight nature of the material results in improved fuel efficiency, which has been favorable for industry adoption in the automotive industry.

Moreover, key industry players have been focusing on product development to fortify their market presence, which has positively influenced the global business landscape. For instance, in July 2021, Tesla, the electric vehicle (EV) giant, announced its plans to commence limited production of its Model Y crossover by the end of the year at its new plant near Berlin.

The company has redesigned its Model Y for production facilities in Texas and Gruenheide to incorporate new aluminum casting for the car’s rear body structure, including crash rails. Tesla is also working on integrating Idra’s Giga Press for die casting large parts of its EVs.

For comprehensive assessment, the aluminum casting market has been categorized on the basis of process, application, and region. In terms of process, the market has further been bifurcated into sand casting, die casting, and others.

The aluminum casting market from the others process segment is estimated to register significant revenue growth, delivering a CAGR of more than 7.2% through the analysis period. Other aluminum casting processes include permanent mold casting and investment casting, among others.

From the application perspective, the aluminum casting market has been divided into transportation, industrial tools & equipment, building and construction, and others. The others application segment is projected to see substantial growth at around 6.4% CAGR over the study timeline. Other applications of aluminum casting include medical devices, cookware, and firearms, among others.

In the regional landscape, LATAM accounts for over 7.5% of the aluminum casting market in terms of revenue and is anticipated to garner a sizable valuation by the end of the review period. Gradual economic recovery of the Brazilian and Mexican economies, coupled with growth consolidation in other countries, such as Argentina, Chile, Peru, and Colombia, is likely to fuel regional market growth over the forthcoming years.

Meanwhile, the MEA aluminum casting market is speculated to expand at a CAGR of around 7% through the forecast period to reach a notable revenue by the end of 2027. The growing automotive industry in the Middle East & Africa, along with increasing investment in the domestic building & construction industry, is slated to stimulate regional market expansion in the coming years.