Transparency Market Research in its new report titled, “Die Casting Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the die casting market. The TMR report states that the rising adoption of automation across the aluminum die casting industry which leads to the productivity and improves durability of the cast which requires the minimum finishing. The market for die casting is showing lucrative growth opportunities in transportation and industrial sectors. This growth is attributable to the demand for the vehicles which lowers the fuel consumption and likely to boost adoption of the die casting for improving performance of the vehicles. This is a key factor boosting growth of the global die casting market during the forecast period i.e, 2018-2026.
According to the report, growing automobile industry coupled with growing demand for light weight parts of the automotive are propelling growth of the global die casting market. Additionally, the Environmental Protection Agency (EPA) is increasingly taking initiatives such as imposing stringent regulations and raising the miles per gallons standard for reduction of emission. These norms and regulation mandates the usage of lightweight material and in turn the die casted material. Additionally, these norms are supported by the Occupational Safety and Health Administration (OSHA) as the organization has its own rules to develop die casting industry and reduce pollution are fuelling growth of the global die casting market.
On the basis of geographical perspective, the global die casting market is segmented into North America, Latin America, Europe, APEJ (Asia Pacific excluding Japan), MEA (Middle East & Africa) and Japan. Asia Pacific is dominating the global market for die casting and expected to remain dominant over the forecast period. This growth is attributable to the presence of stringent regulations across numerous countries in order to reduce the emission of greenhouse gases (GHG) mainly from automotive and power generation. Some of the key players operating in the global die casting market are profiled in this report to give a better competitive analysis of the market and these include Empire Die Casting Company, Alcoa Inc., Dynacast, Gibbs Die Casting, Alcast, and Hitachi Metals. In order to fit in to stringent government regulations, the companies are increasingly investing in to the research and development activities which is further expected to drive the die casting market during the forecast period.
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