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2016-2020 global aluminum casting market compound annual growth of 5.82%

 Last Update: 2022-11-29
 Source: Internet
 Author: User

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2016-2020 global aluminum casting market compound annual growth of 5.
82%

Research and Markets, a foreign market research institution, recently released a report that from 2016 to 2020, the annual compound growth rate of the global aluminum casting market reached 5.
82%, and the growth of demand in the automotive industry is the main reason
for promoting the stable development of the aluminum casting market.

Aluminum castings

Compared to other materials, such as steel, aluminum materials are lightweight, making them the ideal casting material
for the automotive industry.
Moreover, the aluminum casting process produces less
fuel consumption and emissions than other metal materials.

However, the report also pointed out that the increase in electricity costs will promote the increase in the cost of aluminum castings, which will have a certain impact
on the profitability of downstream industries and manufacturers.
In addition, the instability of aluminum material prices also brings a lot of challenges
to the aluminum casting industry.

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