In 2022, the die casting market in the world was valued at US$ 62.0 billion. the market is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2028, reaching US$ 86.9 billion.
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"The Global Die Casting Market 2018-2028 (USD Billion)")
Die casting is a method of production that is used to build geometrically complex metal components. This method makes use of reusable molds that are referred to as dies. The molten metal is then pushed into dies in the machine, where it is cast. The process is characterized by forcing a molten metal or alloy into the cavity of a mold while applying a significant amount of pressure. Die castings can be made from various metals, including lead, zinc, magnesium, aluminum, copper, and alloys based on the tin.
Covid-19 Impact
Before the onset of COVID-19, the demand for finished products was being fueled by the widespread adoption of lightweight, high-strength castings, which was notably prevalent in the automotive industry. Because of the different compliance criteria for fuel economy established by the instructions of the regulatory authorities in both the United States and Europe, the manufacturers who operate in the automotive sector were concentrating on producing such goods. The COVID-19 pandemic, on the other hand, has had a detrimental effect on the automotive industry by leading to a decrease in vehicle sales. An analysis conducted by MRFR found that vehicle manufacturers favor aluminum over iron or steel when it comes to the production of parts. On the other hand, the market's growth has been severely hindered by the fact that the manufacture of auto parts has been halted since manufacturing sites have been shut down.
Asia Pacific will dominate the Global Die Casting Market
Due to factors such as the increasing demand for automobiles and the presence of a strong manufacturing base in developing nations such as India and China, the Asia-Pacific region held the highest share of the worldwide die-casting market. In addition to this, the expanding use of aluminum die casting across a variety of applications will also assist this area is continuing to draw high revenues for this market over the projection period. In addition, the expanding use of die casting in fields such as windmill applications and the telecommunications industry will make it easier for this region to maintain its position at the forefront of the market in the years to come.
The Automobile Segment will see a stable growth rate in the period of interest
It is anticipated that the vehicle sector will maintain its leading position in the global die-casting market during the duration of the projection. Polymers and other non-ferrous materials were responsible for more than 30 percent of all materials used in automotive manufacturing by the year 2020. Today, around 30–40 percent of the components that make up a vehicle are made out of aluminum alloys. These alloys are mostly produced through a process known as high-pressure die casting.
The Pressure Die Casting Segment will dominate the Global Die Casting Market
The technology of pressure die casting is continually advancing in order to keep up with the latest trends in the industry. This, in turn, is driving the development of innovative die lubricant technologies and their subsequent introduction into the die-casting market. Casters are able to make castings of greater quality and complexity at higher die temperatures thanks to these new technologies, which also reduce the amount of time that machines need to be shut down for maintenance. This results in higher productivity in die casting factories.
The value of the die-casting market was estimated to be USD 61.12 billion in 2022, and it is anticipated that it will reach USD 86.3 billion in 2029, registering a CAGR of 5.92% throughout the time of forecasting (2022 - 2029).
The market for die casting is expanding as a result of the rising demand for automobiles that are high-performance, fuel-efficient, and have low emissions. A rise in the number of businesses that manufacture machinery and an uptick in the amount of money invested in the construction industry both contribute to an increase in the demand for die-casting machines.
In addition, over the past few years, a variety of enhancements have been made to conventional high-pressure die-casting processes. It is anticipated that during the period in question, these facets will likely give market participants with appealing growth potential.
The actions that have been made by the Environmental Protection Agency (EPA), such as increasing the standard for miles per gallon and establishing severe standards for lower emission, have had a good influence, and they have helped to facilitate the expansion of the industry. The establishment of these norms and regulations facilitates the increased utilization of lightweight materials, which in turn benefits die-cast materials. These norms were strengthened with the assistance of the Occupational Safety and Health Administration (OSHA), which has its own regulations regarding the reduction of pollution and the development of the die-casting industry, both of which contributed to the expansion of the global die-casting market.
Die cast components are formed from a single mold and are not connected or welded together; as a result, they have a high level of inherent strength and dimensional stability. In addition to that, they are sturdy, resistant to heat, and long-lasting. As a result, they are gaining popularity, and the continuously growing demand for them will ultimately work to the advantage of the market in the long term.
Some of the most important companies competing in the global die casting market include Leggett & Platt, Consolidated Metco, GF Casting Solution, Ryobi die casting, Martinrea Honsel Germany, Shiloh Industries, Guangdong Yizumi, Endurance Technologies Ltd., Pace Industries, Dynacast International, Arconic, Alcoa Inc., Gibbs Die Casting, Bodine Aluminum, Hitachi Metals Ltd., Sigma Electric Manufacturing Corp., Empire Die Cast
Recent Development
- In January 2018, a Form Technologies brand called Dynacast announced that they had acquired particular zinc casting activities from Taurus '80 in Italy.
- These companies are experts in the forming technologies of non-ferrous metal casting, and they are LMCS's merger partners.
Die Casting Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | US$ 86.9 billion |
| Growth Rate | CAGR of 5.9 % during 2023-2028 |
| Segment Covered | Type, End-User, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Leggett & Platt, Consolidated Metco, GF Casting Solution, Ryobi die casting, Martinrea Honsel Germany, Shiloh Industries, Guangdong Yizumi, Endurance Technologies Ltd., Pace Industries, Dynacast International, Arconic, Alcoa Inc., Gibbs Die Casting, Bodine Aluminum, Hitachi Metals Ltd., Sigma Electric Manufacturing Corp., Empire Die Cast |
Key segments in ‘Global Die Casting Market’
By Type, (USD Million)
- Vacuum Die Casting
- Pressure Die Casting
- Squeeze Die Casting
By End-User, (USD Million)
- Commercialization
- Residentials
By Application, (USD Million)
- Plant Machinery
- Automobiles
- Heavy Equipment
- Machine Tools
- Others
By region, (USD Million)
- North America
- United States of America
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- the Netherlands
- Poland
- Russia
- The United Kingdom
- Rest of Europe
- Asia-Pacific
- China
- India
- Indonesia
- South Korea
- Rest of Asia-Pacific
- South America
- Argentina
- Brazil
- Peru
- Uruguay
- Rest of South America
Frequently Asked Questions (FAQ) :
The market value of die casting market in 2028 was US$ 86.9 billion.
The die casting market is growing at a CAGR of 5.9% over the forecast period.
The application of the die casting market Plant Machinery, Automobiles, Heavy Equipment, Machine Tools and other.