The latest research study “Automotive Parts Magnesium Die Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive parts magnesium die casting market size reached US$ 2.72 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.05 Billion by 2027, exhibiting a growth rate (CAGR) of 6.70% during 2022-2027.
Automotive parts magnesium die casting represents economic mechanized metal processing techniques using magnesium, wherein the melted liquid is pressed into a mold under filling speed and high pressure to manufacture several vehicle components. They can be categorized into various types, such as pressure die casting, vacuum die casting, gravity die casting, squeeze die casting, etc. Automotive parts magnesium die casting methods are mostly employed, owing to the excellent dimensional stability, dampening capacity, and corrosion resistance of magnesium, as compared to carbon, steel, and aluminum alloys. They ensure an adequate strength-to-weight ratio of structural metals, enhance reliability, simplify designs, minimize distortion or casting stress, and reduce the effects of thermal fatigue. Consequently, automotive parts magnesium die casting procedures find extensive applications in the production of engine parts, motor covers, gearboxes, auto forks, connectors, heat sinks, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Automotive Parts Magnesium Die Casting Market Trends and Drivers:
The expanding automotive industry across the globe and the rising need for lightweight passenger and commercial vehicles that facilitate improved fuel mileage without compromising their durability are primarily driving the automotive parts magnesium die casting market. Furthermore, the implementation of stringent green norms by government bodies aimed at mitigating carbon emissions and preventing environmental degradation is also positively influencing the market growth. Additionally, the escalating usage of the industrial Internet of Things (IIoT) by leading players during the magnesium die casting procedure to improve manufacturing efficiency and productivity rate is acting as another significant growth-inducing factor. Apart from this, the growing strategic collaborations among original equipment manufacturers (OEMs) to enhance casting methods and the increasing awareness regarding the advantages of utilizing magnesium over other alloys are expected to propel the automotive parts magnesium die casting market over the forecasted period.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Chicago White Metal Casting Inc., Dynacast International Inc. (Form Technologies Company), Georg Fischer Ltd., Gibbs Die Casting Corporation (Koch Enterprises Inc.), Meridian Lightweight Technologies, Morimura Bros. Inc., Ortal Diecasting Ltd., Pace Industries (Leggett & Platt Incorporated), Ryobi Limited, Sandhar Technologies Limited, Shiloh Industries Inc. and Twin City Die Castings Co.
Automotive Parts Magnesium Die Casting Market Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Production Process:
- Pressure Die Casting
- Vacuum Die Casting
- Gravity Die Casting
- Squeeze Die Casting
Breakup by Application:
- Body Parts
- Engine Parts
- Transmission Parts
- Others
By Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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