Aluminum Die Casting Market size is expected to reach USD 111.99 billion by 2030
Aluminum Die Casting Industry Overview The global aluminum die casting market size was valued at USD 69.36 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030. Increasing usage of aluminum in various applications, such as transportation and telecommunication, is expected to boost market growth during the forecast period. A rising preference for high strength and lightweight castings is a prominent driving factor. Manufacturers are required to comply with the regulations, to enhance fuel efficiency and reduce harmful emissions, in the transportation industry. This is possible by the incorporation of lightweight materials in production of the vehicles. The U.S. is a prominent producer and consumer of aluminum die casting. The upward growth trajectory of the U.S. market was severely impacted in 2020 as the product demand reduced drastically on account of the emergence of the COVID-19 pandemic, which led to a downfall ...