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    Asia Pacific Automotive Casting Market Forecast 2027 By Process (Sand Casting, Die Casting, Investment Casting), By Material (Iron, Steel, Aluminum), By Application (Engine, Transmission & Suspension, Brakes & Wheels), By Distribution Channel (OEM, Aftermarket), By Vehicle (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-wheelers), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: June 2021   |   Report ID: GR1883   |   Delivery: PDF  Request Free Sample

    Asia Pacific Automotive Casting Market size exceeded USD 57.99 billion in 2020 and is anticipated to exhibit a CAGR of 6.4% from 2021 to 2027. Strict regulations on pollution and energy efficiency requirements for vehicles will drive the industry growth.

    Asia Pacific Automotive Casting Market

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    In 2020, the Asia Pacific dominated 50% global automotive casting market share owing to large number of automotive manufacturers, accounting for a large part of the global automotive production. Countries in the Asia Pacific region, such as China, India, and Japan, are investing heavily in the development of automotive castings. Government initiatives in this region have formulated measures to fuel the automotive industry demand.

    The COVID-19 pandemic has been a menace to vehicle manufacturers in Asia. The demand for components, such as steel coils and foams, is further threatening the market and the industry's response toward supply chain disruptions is low. The trend among Asian automakers to halt production is spreading and may reduce the demand for metals & petrochemical products in the automotive sector.

    Asia Pacific Market, By Material

    Asia Pacific Automotive Castings Market, By Material

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    The cast iron segment will witness around 6% growth during the forecast timeframe. Cast iron has been widely used since the inception of the automotive industry. Two types of cast iron variants such as ductile iron and grey cast iron are prevalent in the automotive sector. These variants are used to manufacture disc brakes, crankshafts, cylinder heads, and engine blocks owing to their excellent properties such as wear resistance, stiffness, and high thermal conductivity.

    Asia Pacific Market, By Process

    Asia Pacific Automotive Castings Market, By Process

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    The die casting segment accounted for over 60% share in the Asia Pacific automotive casting market in 2020. This process is used to manufacture parts that require the highest dimensional accuracy and surface quality. This process is widely used for smelting non-ferrous metals such as zinc, magnesium, and aluminum. Die casting is used for the mass pass production of automotive parts owing to its high tensile strength.

    Asia Pacific Market, By Application

    The Asia Pacific automotive casting market from engine application will expand at 6.6% CAGR through 2027, attributed to the manufacturing of engine mounts, engine blocks, exhausts manifold, cylinder heads, and turbo chargers. Growing efforts of manufacturers to reduce exhaust gas emissions and fuel consumption will proliferate segment growth.

    Asia Pacific Market, By Vehicle

    The light commercial vehicle segment is poised to observe growth rate of 6% till 2027. The growing population owing to industrialization will create additional resource requirements for freight transportation in the future. With the explosive growth of e-commerce and changes in the supply chain dynamics, the demand for light commercial vehicles is expected to grow steadily. Automakers are heavily investing in R&D, which will continue to boost the segment growth.

    Asia Pacific Market, By Distribution Channel

    In 2020, OEM segment generated over USD 40 billion revenue in the Asia Pacific automotive casting market. The Asia Pacific region continues to perform well and is driven by China whose economic recovery has been driven by weak loans, increased consumer confidence, and new investments in infrastructures. According to the data from IHS Markit, China's car sales increased by 8% year-on-year with focus on high-end brands and electric vehicles. In China, with the continuous acceleration of regulatory requirements, the demand & production of electric vehicles continues to grow in this segment.

    Competitive Industry Landscape

    Some of the key industry players include Ryobi, Dynacast, Bell Foundry, Zollern GmbH, Impro, Zetwerk, Wolf GmbH, and Endurance Technologies.
     


    Frequently Asked Question(FAQ) :

    Why is the Asia Pacific automotive casting market growing?
    The market revenue for automotive casting in Asia Pacific was recorded at nearly USD 57.99 billion in 2020 and will grow CAGR of 6.4% up to 2027 driven by the enforcement of severe regulations on pollution and energy efficiency requirements for vehicles.
    How are cast iron materials contributing to the automotive casting industry share in APAC?
    The regional market share from the cast iron materials segment will see a 6% growth through 2027 with rising adoption in the production of disc brakes, crankshafts, cylinder heads, and engine blocks.
    How are engine applications influencing the Asia Pacific automotive casting segment?
    Engine applications could observe a 6.6% CAGR in the industry through 2027 owing to the increasing emphasis of manufacturers towards reducing exhaust gas emissions and fuel consumption.
    Why is the automotive casting sector growing from light commercial vehicles in Asia Pacific?
    The industry size for automotive casting in the region from light commercial vehicles could hit a growth rate of over 6% up to 2027 due to the expanding population and industrialization in the region.
    How is the automotive casting in APAC market forecast driven across OEMs?
    The market size for automotive casting in APAC from OEM distribution channels reached over USD 40 billion in 2020 and will grow with the rising consumer confidence, and higher investments in infrastructures.

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