The automotive die-casting market will reach USD 18.54 billion
According to the report in “Die Casting Market - Segmented by Production Process, Application, Raw Material, and Geography - Growth, Trends, and Forecast (2019 - 2024)”, 2017 has seen the die-casting world market reach a value of 62.87 billion dollars.
8.31 billion dollars of this represent the die-casting value reached by the automotive market.
Forecasts estimate an increase of up to 93.87 billion dollars by 2023, with a 6.93% CAGR for the period 2018-2023, confirming a positive trend for the sector.
For the automotive sector, forecasts predict 18.54 billion dollars before 2026 and a 9.3% CAGR.
So let’s take a better look at this data and the analysis.
The Automotive Die-Casting Market: the roles of OSHA and NADCA
Forecasts and vision for the future contained in the report are deemed even more credible since the application of OSHA regulations (Occupational Safety and Health Administration), the agency in charge of health and safety in the workplace (active in the USA and in Europe) and NADCA (North American Die Casting Association).
This should bring improvement in the employees’ working conditions, and generally-speaking a step forward for the die-casting industry.
The ever-increasing requirements for technological skills, growth in automotive abilities and consequently greater demand for a highly-skilled labour force, are all factors which favour development in the sector, both now and in the future.
In order to achieve this however, better training for all players in the sector is vital, and that is why NADCA is collaborating with several colleges to create a shared system.
Die-casting and the new regulations regarding vehicle emissions
As we all know, the automotive industry depends to a great degree on european and international National Agency regulations which manage the environment - for example the EPA in the United States.
New automotive standards regarding CO2 emissions to be reached by 2025 have, effectively, driven the die-casting the industry, insofar as the automotive industry has determined that the only way to reach the necessary standards is to reduce the weight of vehicles.
This will probably stimulate the automotive industry, as a direct consequence.
Die-casting: not just for the automotive sector
The increase in automation has generated a growth in productivity in the die-casting sector, which is becoming increasingly attractive to the automotive industry.
The automotive industry is indeed, in search of highly durable parts, but they are not alone.
The aerospace industry and the defence sector show increasing needs for these kinds of processes.
The use of die-cast injections into industrial machinery and pipes has been increasing for a couple of years. But also the use of more resistant aluminium components in the agricultural and medicinal sectors has shown considerable growth.
Asian leadership in the die-casting sector
The Asian-Pacific zone is the largest market for die-casting, and on a world scale represented more than 58% in 2017.
That is followed by (in this order) Europe, North America, South America, the Middle East and Africa.