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.

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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

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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

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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.