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Die casting is a manufacturing process that uses reusable molds, known as die, to produce geometrically complicated metal components. The metal, which is generally a nonferrous alloy such as zinc or aluminum, is liquefied in a furnace and then forced into dies in a die-casting machine. This technique is defined by pressing a metal or molten alloy into a mold cavity under high pressure. Metals such as zinc, lead, copper, aluminum, magnesium, and tin alloys are used to produce die casting.
The usage of die casting in numerous industrial applications and services and the growth of these industrial sectors boost the market growth of the global die casting. The rising consumer electronics sector is a result of the growing demand for artificial intelligence, voice recognition technology, and smartphones, and the replacement cycles and dropping prices of various electronic devices is expected to drive the growth of the market.
Due to the outbreak of the COVID-19 pandemic in 2020 and the strict government regulations imposed on many developed and developing countries have disrupted the supply chain. Restrictions on people’s movements led to a significant delays in arrival of raw materials, disrupted cash flow, and increased number of absentees among manufacturing workers. These factors have affected the automotive, industrial end-use industries, as well as a number of their suppliers. In 2021 after the relaxation of the restrictions the end-use industries gradually began to recover. This has also aid the die casting markets is expected to continue during the forecast period.
The report will cover the following key insights:
The automotive segment is expected to witness significant growth during the forecast period due to increased demand for die casting from the automotive industry. The usage of die casting for manufacturing for the automotive industry, including the production of blocks, valve blocks, cylinder heads, and wheels. Such factors make the use of die casting in the automotive sector expected to fuel the demand for die casting, which is likely to drive the growth of the die casting market.
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Asia Pacific is expected to hold the largest market share in the die casting market and dominates the market growth during the forecast period. The growing demand of die casting from the industrial sector, automotive industry and increased range of application in telecommunications and windmills is anticipated to boost the growth of the market in the Asia-Pacific region.
Moreover, the Asia-Pacific region is expected to witness major developments due to the growing production and consumption of aluminum in the region. The rising demand for aluminum die castings in numerous industrial applications as the process produces lightweight parts and offers high flexibility for complex shapes
By Raw Material
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