Europe Aluminum Die Casting Market Size Is Poised To Reach USD 21.69 Billion By 2030


 San Francisco, 17 Sep 2024: The Report Europe Aluminum Die Casting Market Size, Share & Trends Analysis Report By Production Process (Pressure Die Casting), By Application (Transportation, Building & Construction), By Country, And Segment Forecasts, 2024 - 2030

The Europe aluminum die casting market size was estimated at USD 15.43 billion in 2023 and is expected to grow at a CAGR of 5.1% from 2024 to 2030. Growing investments towards the development of the automotive sector coupled with stringent regulations for low emissions are boosting the demand for aluminum die castings in Europe. According to ACEA, the EU car market rose by ~14% in April 2024, on a m-o-m basis, with significant growth in registrations witnessed in Spain, Germany, France, and Italy. The car registrations in the EU reached almost 3.7 million units in 2024, registering a 6.6% increase as of April. These statistics indicate a growth in demand for cars in Europe, which is anticipated to augment vehicle production in the region in the coming months.

 

Access Research Report of Europe Aluminum Die Casting Market @ https://www.grandviewresearch.com/industry-analysis/europe-aluminum-die-casting-market-report

Drivers, Opportunities & Restraints

Aluminum is a sustainable material due to its contribution to carbon dioxide (CO2) reduction. It prevents around 70 million tons of unwanted CO2 from mixing into the air. In vehicles, using 100 kg of aluminum can help save 46 liters of fuel per year. As a result, companies are investing in R&D to push the penetration of aluminum in car bodies. The growing penetration of aluminum in vehicle manufacturing is anticipated to act as a major growth driver and opportunity for the market to flourish.

For instance, Alumobility and Hyundai Motor Europe Technical Centre partnered and conducted a theoretical conversion of the Genesis GV70 electric SUV's steel-intensive body to full aluminum. These results were published in a new study and presented at a conference in October 2023 in Germany. The study resulted in achieving a weight reduction by over 110 kg. The 275 kg aluminum body comprised 64% sheet and the remaining was extrusion and casting.

A key challenge that obstructs market growth is the Russia-Ukraine War. This conflict has already disrupted raw material costs in the past two years. Further, as of February 2024, the EU faces pressure to impose a ban on Russian imports, as 9% of the region’s aluminum imports come from Russia. The ban is proposed as part of an expected sanctions package marking two years since Ukraine's invasion. If the ban comes into effect, European and U.S. buyers will have to compete for aluminum from the Middle East, causing a price surge.

Price Trends for Aluminum

On the downstream supply side, due to U.S. Section 232 (anti-dumping duty) on certain aluminum products, import tariffs on China are expected to increase by the end of 2024. From a demand perspective, tariffs on EVs, which is the impact of the rollback of incentives by several European governments for the purchase of EVs, are also likely to increase aluminum prices in the coming quarters. Hence, in 2024, the bullish run on aluminum prices are expected, albeit at a gradual pace for the remaining quarters.

Key Europe Aluminum Die Casting Companies:

  • Alucast Ltd
  • Consolidated Metco, Inc.
  • Druckguss Westfalen GmbH & Co.KG
  • FAIST Group
  • GF Casting Solutions
  • Haworth Castings
  • Lupton & Place Ltd.
  • Martinrea Honsel
  • Metalpres Donati Spa
  • Wolf Industries GmbH

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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