DUBLIN, September 1, 2020 / PRNewswire / – The “Automotive Parts Magnesium Die Casting Market – Growth, Trends and Forecast (2020-2025)” report was added to ResearchAndMarkets.com offer.
The global automotive parts magnesium die-casting market is expected to register a CAGR of 9.55% during the forecast period.
The studied market is mainly driven by the expanding automotive market, the increasing penetration of magnesium die-cast parts in industrial machinery, the increasing electric mobility and the use of magnesium cast iron for the powertrain and housing parts. automobiles.
The implementation of strict emission standards by several countries and regions is propelling the market growth. Reducing vehicle weight is an important step in reducing emissions and, in turn, pushes original equipment manufacturers to switch to lightweight materials, such as magnesium and carbon fiber reinforced plastic, to manufacture vehicle components.
The growing investment in innovation and automation, etc., is propelling the growth of the studied market. Ongoing research and development is leading to the discovery of new magnesium alloys and efficient manufacturing techniques. For example, the Indian Institute of Technology, Madras, the US Army’s research laboratory and the University of North Texas developed a new magnesium alloy that can replace aluminum and steel alloys in the automotive industry and increase the fuel efficiency of vehicles.
However, market growth may be affected by the high cost of magnesium and associated manufacturing processes and the continued impact of the COVID-19 outbreak.
Key market trends
Increased application of magnesium die casting in body parts
Key body structure applications, such as floor rails, shock towers and pillars, are now manufactured using high pressure non-ferrous castings. The use of magnesium in auto body parts was previously limited, but significant expansion has been observed since 2013. However, GM has been using a one-piece die-cast magnesium roof frame since the introduction of the C-5. Corvette in 1997.
Ford F-150 SUVs and trucks use cast magnesium parts for the radiator support, and a few Dodge vehicle models use a magnesium die-cast part in the front of the magnesium dashboard. The first die-cast magnesium closure to meet the 55 mph rear collision requirements is used in the interior tailgate panel, and the part was used initially in the 2010 Lincoln MKT.
In Europe, for body panel applications, German auto giants Volkswagen and Mercedes used thin-walled magnesium die-castings.
Thin wall die castings, such as closure interiors, can often offset the material cost penalty of magnesium, compared to sheet steel construction, due to part consolidation. Thus, depending on the application and the field of employment, magnesium die-casting components are gaining popularity in the auto body parts segment, and their use is expected to increase during the forecast period.
Asia-Pacific is expected to dominate the market during the forecast period
Large-scale demand, domestic production, government initiatives, and availability of resources are the major drivers for the growth of the Automotive Parts Magnesium Die Casting Market in the market. Asia Pacific Region.
China is one of the main producers of die-cast parts and accounts for over 64.90% of regional production (Asia Pacific) die casting market share. The metal smelting industry in China has more than 26,000 facilities, 8,000 of which manufacture non-ferrous castings. China produces over 49.3 million metric tons of castings. The advanced and efficient automatic die casting machines have supported the demand for metal die casting in the country. Industrial restructuring, upgrading of existing players, development of the latest technology and improvement of production rates have contributed to the growth of the Chinese die-casting market. The Chinese magnesium die-casting market is experiencing strong demand from the automotive industry, which is growing rapidly internationally. This is expected to drive the growth of the Chinese market during the forecast period.
India has the second largest foundry industry in the world. Foundries in India can produce die-casting products that serve a wide range of applications conforming to international standards. The government’s focus on Make in India, the development of the automotive industry and the strict emission standards are boosting the magnesium die-cast auto parts market in the country. Castings consumed by the automotive sector accounted for 35% of the country’s production. India has seen a downward trend in passenger vehicle sales, due to many reasons, such as the economic downturn, rising fuel and insurance costs. However, despite many pressures, such as revised axle standards and the NBFC crisis, overall sales of commercial vehicles rose and posted robust growth of 27.28%. In addition, with the growing focus of central and state government on the use of electric buses as a mode of urban transport, as well as the desire to make transport more sustainable, the demand for electric buses in the country is expected to accelerate, at its height. turn, propel the demand for magnesium die-cast auto parts in the country.
On the other hand, the growth of the automotive industry, the stabilization of the industrial sector, the popularity of consumers for fuel-efficient vehicles and the latest advancements in die-casting techniques are expected to drive the growth of the Japanese die-casting market. magnesium pressure for auto parts. All of these factors are expected to drive the growth of the automotive parts magnesium die-casting market in the Asia Pacific Region.
The global automotive parts magnesium die casting market is highly fragmented with many regional small to medium scale players in developing and developed countries across the globe.
Major recognized players, such as Georg Fischer Automotive, Ryobi Die Casting, Shiloh Industries and Pace Industries, accounted for over 28% of the global market share. Gibbs Die Casting Group, Sandhar Group, Sundaram Clayton Ltd and Meridian Lightweight Technologies Inc, Dynacast (Form Technologies Inc.) are some other key players in the market.
These key players have focused their revenues on R&D to develop better production processes and alloys. This strategy can help in the production of premium die-cast parts for the automotive industry. Key players have also extended their reigns globally through various mergers, expansions, partnerships, joint ventures and acquisitions.
For example, in December 2019, Bharat Forge has announced that it will innovate for its next factory in North America in 2020. It should be ready for production by approximately June 2021. The construction of its factory in Germany has been completed, and soon, Bharat Forge will start trial production. The factory in Nellore, Andhra Pradesh, was due to start commercial production from here December 2019. The first configuration is for the die-casting machine, which can perform both aluminum and magnesium casting on the same machines.
Key topics covered
1.1 Study hypotheses
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market drivers
4.2 Market constraints
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.3.1 Threat of new entrants
4.3.2 Bargaining power of buyers / consumers
4.3.3 Bargaining power of suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Manufacturing process
5.1.1 Die casting
5.1.2 Vacuum casting
5.1.3 Gravity casting
5.1.4 Die casting
5.2.1 Body parts
5.2.2 Engine parts
5.2.3 Transmission parts
5.2.4 Other applications
5.3.1 North America
5.3.3 Asia Pacific
5.3.4 Rest of the world
6 COMPETITIVE LANDSCAPE
6.1 Supplier market share
6.2 Company profiles
6.2.1 Chicago White Metal Casting, Inc.
6.2.2 Sandhar Group
6.2.3 Georg Fischer AG
6.2.4 Gibbs Die Casting Unit
6.2.5 Magic Precision Inc.
6.2.6 Light meridian technologies
6.2.7 MORIMURA BROS. Inc.
6.2.8 Tadir-Gan Group (ORTAL Ltd.)
6.2.9 Rhythm of industries
6.2.10 Shiloh Industries Inc.
6.2.11 Sundaram-Clayton Limited
6.2.12 Twin City Die Castings
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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