#US & Europe Automotive Aluminum Alloy Wheel Market

[pearlsmith25]

Magnesium Metal Market Strategies: Key Players' Approach to Sustain Competitive Edge

The magnesium metal market is a thriving sector within the global metal industry. Magnesium, a lightweight and versatile metal, has gained significant traction in various industries due to its exceptional properties. The market encompasses the production, distribution, and consumption of magnesium metal in various forms, including ingots, sheets, rods, and powders. It finds applications in industries such as automotive, aerospace, electronics, construction, and healthcare.

Key Factors Driving the Market:

Lightweight and High Strength: Magnesium metal is known for its exceptional strength-to-weight ratio. It is approximately 75% lighter than steel and 33% lighter than aluminum. This makes it an attractive choice for industries seeking lightweight materials for improved fuel efficiency, enhanced performance, and increased load-bearing capacity.

Growing Automotive Industry: The automotive sector is a significant consumer of magnesium metal. With increasing regulations aimed at reducing vehicle emissions and improving fuel efficiency, automakers are increasingly incorporating magnesium components in vehicles. Applications include engine blocks, transmission cases, steering wheels, and structural parts.

Aerospace and Defense Applications: The aerospace industry utilizes magnesium metal due to its lightweight properties and high strength. It is used in aircraft components, such as engine parts, landing gear, and interior structures. Additionally, the defense sector employs magnesium in missile and artillery systems, protective gear, and military vehicles.

Electronics and Electrical Industry: Magnesium is extensively used in the electronics and electrical industry for various applications. It is used in laptops, smartphones, tablets, and other electronic devices as a lightweight alternative to traditional materials. Magnesium alloys are also employed in electrical connectors, power tools, and battery casings.

Construction Industry Demand: The construction industry has witnessed an increasing demand for magnesium-based materials. Magnesium alloys are used in structural elements, architectural components, and lightweight panels. The material's durability, fire resistance, and corrosion resistance make it a popular choice for construction projects.

Healthcare Sector Applications: Magnesium finds applications in the healthcare industry, particularly in medical devices and implants. Its biocompatibility and lightweight properties make it suitable for orthopedic implants, dental fixtures, and surgical tools. Additionally, magnesium-based alloys are used in cardiovascular stents and bone fixation devices.

Regional Analysis:

The magnesium metal market exhibits a global presence, with major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Asia Pacific: The Asia Pacific region dominates the magnesium metal market due to its thriving automotive, aerospace, and electronics industries. Countries such as China, Japan, South Korea, and India are major producers and consumers of magnesium.

North America: The North American market is driven by the strong presence of the automotive and aerospace sectors. The United States is a significant contributor to the regional market, with a focus on lightweight materials for automotive applications.

Europe: Europe has a well-established automotive industry, driving the demand for magnesium in the region. Countries like Germany, France, and the United Kingdom are key players in the European magnesium metal market.

Latin America: The Latin American market showcases potential growth opportunities, primarily driven by the automotive and construction sectors. Brazil and Mexico are major contributors to the regional market.

Middle East and Africa: The Middle East and Africa region exhibit a growing demand for magnesium metal due to the construction and automotive sectors. Saudi Arabia, UAE, and South Africa are key markets in the region.

Key Market Players:

Prominent companies operating in the magnesium metal market include:

US Magnesium LLC Dead Sea Magnesium Ltd. Magontec Limited RIMA Group Norsk Hydro ASA POSCO Solikamsk Magnesium Works Taiyuan Tongxiang Magnesium Co. Ltd. Wenxi YinGuang Magnesium Industry (Group) Co., Ltd. Shanxi Wenxi Hongfu Magnesium Co., Ltd.

These companies engage in activities such as production expansion, strategic partnerships, product innovation, and market collaborations to strengthen their market position and cater to the growing demand for magnesium metal.

Conclusion:

The magnesium metal market continues to grow significantly due to its lightweight, high-strength properties, and diverse applications across industries. With increasing emphasis on fuel efficiency, lightweight materials, and sustainable solutions, the demand for magnesium metal is expected to remain robust in the coming years. Continual research and development efforts by market players and technological advancements will further drive the growth of the magnesium metal market globally.

[poojaj]

Drive high CAGR by Global Aluminum Alloy Wheels Market

The aluminum alloy wheels market refers to the global industry involved in the production, distribution, and sales of wheels made from aluminum alloy materials. Aluminum alloy wheels are popular in the automotive industry due to their lightweight, durability, and aesthetic appeal. They are used in a wide range of vehicles, including passenger cars, commercial vehicles, and motorcycles.

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Here are some key points about the aluminum alloy wheels market:

Market Growth: The market for aluminum alloy wheels has been growing steadily over the years. This growth can be attributed to factors such as increasing vehicle production, rising demand for lightweight materials, and the preference for alloy wheels over traditional steel wheels.

Lightweight and Performance: Aluminum alloy wheels are lighter than steel wheels, which helps in improving fuel efficiency and overall vehicle performance. These wheels also offer better heat dissipation, reducing the risk of brake failure.

Aesthetic Appeal: Aluminum alloy wheels are available in a variety of designs, finishes, and sizes, allowing vehicle owners to customize the appearance of their vehicles. This aesthetic appeal has been a significant driving factor for the market, especially among enthusiasts and consumers looking for a more stylish look.

OEM and Aftermarket: The aluminum alloy wheels market consists of original equipment manufacturers (OEMs) that supply wheels directly to vehicle manufacturers and the aftermarket sector, where consumers can purchase wheels separately and replace their existing wheels. The aftermarket segment has witnessed significant growth due to the increasing demand for customization options.

Regional Market: The aluminum alloy wheels market is globally distributed, with major players operating in North America, Europe, Asia Pacific, and other regions. The market’s growth is influenced by factors such as economic conditions, automotive production, and consumer preferences in each region.

Competitive Landscape: The market is highly competitive, with several key players competing for market share. These companies invest in research and development activities to improve wheel performance, develop new designs, and enhance manufacturing processes. Some notable companies in the aluminum alloy wheels market include Superior Industries International Inc., CITIC Dicastal Co., Ltd., Enkei Corporation, and Ronal Group, among others.

Sustainability: With growing environmental concerns, there is an increasing focus on sustainability in the aluminum alloy wheels market. Manufacturers are exploring ways to reduce the environmental impact of wheel production, including the use of recycled materials and adopting more energy-efficient manufacturing processes.

Overall, the aluminum alloy wheels market is driven by factors such as lightweight construction, aesthetic appeal, and the increasing demand for customization options. As the automotive industry continues to evolve, the market is expected to witness further growth and technological advancements.

[severepeanutperfection]

Automotive Wheel Market : Key Players, Growth, Analysis, by 2026

The Automotive Wheel Market is a growing industry as the use of vehicles continues to increase worldwide. The market is driven by factors such as the increasing demand for vehicles, rising disposable income, and advancements in technology.

The market is segmented by vehicle type, material, and geography. By vehicle type, the market is divided into passenger cars, light commercial vehicles, and heavy commercial vehicles. By material, the market is divided into steel, aluminum, and alloy. Geographically, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Asia Pacific is the largest market for automotive wheels due to the high demand for vehicles in countries such as China and India. The region is also home to several major automotive manufacturers, which drives the demand for automotive wheels. North America and Europe are also significant markets for automotive wheels.

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The major players in the automotive wheel market include ALCAR Group, American Racing, BBS Kraftfahrzeugtechnik, Borbet, Enkei, and Rial. These companies are focusing on developing new products, expanding their product portfolios, and increasing their global presence to gain a larger share of the market.

In conclusion, the Automotive Wheel Market is a growing industry with increasing demand for vehicles and rising disposable income. The market is segmented by vehicle type, material, and geography, with Asia Pacific being the largest market. The major players in the market are focusing on product development and global expansion to gain a larger share of the market.

[sudeepkedar]

Europe Automotive Casting Market To Witness Lucrative Growth Through 2027

Europe Automotive Casting Market To Hit USD 28 Bn By 2027. Europe automotive casting market size is set to grow at an appreciable rate because of the rising need among automakers to reduce the overall weight of vehicles. Some of the most reputed automotive companies have their manufacturing plants in Europe and automobile manufacturers use lighter materials for casting processes to produce high-quality components.

The focus of governments across Europe is increasing towards reducing the overall emissions of automobiles in a bid to create a cleaner and safer environment. These rules and regulations set by the regional authorities have prompted automobile producers to look for and invent innovative ways to improve the efficiency of vehicles with regards to fuel consumption. According to a report by the Office of Energy Efficiency & Renewable Energy (EERE), using lightweight materials like magnesium alloys, aluminum, high-strength steel, and carbon fiber for different components can reduce the vehicle’s body and chassis weight by almost 50%. This automatically allows the engines to run efficiently and consume lesser fuel.

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 As the demand for energy efficient vehicles is growing, the need to have lighter components is seeing an upward trend. The regional automotive casting market share from aluminum segment was valued at more than $11.5 billion in 2020. Some of the great features of aluminum are that it is lightweight, makes production highly efficient, is quite ecofriendly and cost-effective at the same time. It reduces the weight of the vehicle to a large extent, resulting in higher fuel efficiency.

Among the various processes used for producing automotive castings, the die casting method will gain significant momentum through 2027. It is a process that involves heating the desired metal up to its melting point and pouring it in different molds. As soon as the molten metal hardens, the mold is peeled off and the required auto part is ready to be installed in vehicles. Some of the reputed automotive casting companies in Europe are Bell Foundry, Zetwerk, Gibbs Die Casting, Dynacast, Zollern GmbH, Impro, and Endurance Technologies, among a few others.

The die casting process is quite an easy one and is highly cost-effective as compared to other methods. The parts manufactured with the help of this procedure are durable and possess high dimensional accuracy. It reduces the number of production processes involved in the making of automobile components, thereby saving time and raw materials required.

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Automotive castings are used for making different auto parts. But the engine application is predicted to capture nearly 40% share of Europe automotive castings market by 2027. Since engines are quite complex in their design and functioning, there are many elements that will make use of casting methods. Aluminum is used in die casting process to produce different parts of an engine and make it highly functional, efficient, and lightweight.

European auto manufacturers will use zinc metal to produce the external parts of a vehicle like sunroof windshield wipers and chassis. Zinc has some incredible features like it offers great tensile strength which makes it twice as strong as aluminum. Castings made with this metal have high thermal and electric conductivity and are resistant to corrosion, making it suitable for vehicles that have to endure extreme weather conditions.

Automotive castings use different kinds of metals apart from aluminum and zinc like steel, iron, and many others. While the die casting process is popular among auto manufacturers in Europe, they use other processes as well like sand and investment casting methods. The other applications of automotive casting procedure are transmission, suspension, brakes, wheels, and a few others. Automobiles like passenger cars, light and heavy commercial vehicles are the major end-users of automotive castings.

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[siyoute]

Industrial aluminum profiles

Contribution of the automotive industry to green environmental protection

As a lightweight metal material with more practical application potential and value, Environmentally friendly industrial aluminum alloy is increasingly used in automobiles. According to data, the weight of automobiles decreases by 10% for each increase in weight. %, the fuel consumption can be reduced by 6% to 8%, and the emissions can be reduced by 5% to 6%.

Applications in other industries

At present, Europe, the United States, and Japan all use the aluminization rate as an important indicator of vehicle light weighting, while domestic research and application are still in their infancy. Environmentally friendly industrial aluminum stents are easily soluble in dilute sulfuric acid, nitric acid, hydrochloric acid, sodium hydroxide and potassium hydroxide solutions, but insoluble in water.

Relative density 2.70. Melting point 660 ℃. Boiling point 2327 ℃. The content of Environmentally friendly industrial aluminum in the earth's crust is second only to oxygen and silicon, ranking third, and it is the most abundant metal element in the earth's crust. the development of the three important industries of aviation, construction and automobiles requires the material properties to have the unique properties of aluminum and its alloys, which greatly facilitates the production and application of this new metal High Quality - Corrosion Resistant Aluminum Alloy Sheet.

The application is very wide. the all-High Quality - Corrosion Resistant Aluminum Alloy Sheet body of the automobile High Quality - Corrosion Resistant Aluminum Alloy Sheet car is more than 40% lighter than the original steel product, and the weight reduction of the automobile aluminum alloy wheel can reach about 50%. The demand for lightweight automobiles makes the development of aluminum alloys face a broader space.

According to experts' predictions, it is economically desirable that the aluminization rate of automobile materials reaches more than 60%. Based on this, it is speculated that the aluminization limit of future automobiles can reach 30% to 50% or more. The development and application of new automotive aluminum materials are concentrated in three aspects:

One is the development and application of full aluminization of the body and frame and the development and application of large aluminum alloy profiles.

Second, the full aluminization of the anti-shock block and the rigid structure of the door.

Third, the full aluminization of the rotating parts. However, from the domestic and foreign products exhibited at the exhibition in recent years, it can be seen that the research and application of aluminum light weighting is also accelerating. It will also help to save energy and reduce consumption.

Recycling, low carbon and environmental protection

The 3003 aluminum plate processing industry is facing industrial upgrading and transformation. In recent years, the aluminum industry has continued to innovate new products, technologies and equipment. The application prospects of aluminum materials in emerging industries and transportation fields are also becoming wider and wider. Meicheng Industrial Aluminum " Green aluminum, recycling", the aluminum processing industry has gradually entered a new era of improving the inherent quality of products and enriching the variety of products from the extensive and low value-added development stage.

In order to promote the consumption of aluminum for automobiles, many aluminum-related organizations have been established, and the application of aluminum for automobiles has been written into relevant policies and regulations. The Japan Aluminum Association has also set up a committee on recyclable aluminum sheet for automobiles. With the acceleration of the lightweight process of the world's automobiles and the increasingly fierce international competition in the automobile market.\

It is an inevitable trend for domestic automobiles to reach the level of similar foreign automobiles. In the future, the amount of recyclable aluminum sheet alloy will increase with the increase in the output of various types of automobiles, which will surely provide a broad market for my country's recyclable aluminum sheet industry and bring development opportunities.

How to process

Generally, it is based on the industry guide price (aluminum ingot price) + processing fee! Processing fee is divided into: rough material price. Oxidizing material price, electrophoretic material price, spray coating price, processing cost and the manufacturer's local production cost, surface treatment requirements are linked, including freight and packaging costs! Except for the special custom-made basic industrial aluminum profiles, one 6 meters, cut into you The size to be used, for example, to use 1 meter, that 1 meter is the cutting size.

Generally speaking, 1 series pure aluminum has better corrosion resistance, 5 series performs well, followed by 3 series and 6 series, 2 series and 7 series are poor. The selection principle of corrosion resistance should be determined according to its application. High-strength alloys are used in corrosive environments, and various anti-corrosion composite materials must be used. Many customers are very concerned when purchasing aluminum, and the hardness is directly related to the chemical composition of the alloy.

The strength of the aluminum profile is an important factor that must be considered in product design. When it is an aluminum alloy component as a component, an appropriate alloy should be selected according to the pressure it is subjected to. Pure aluminum has lower strength, while 2-series and 7-series heat-treated alloys have higher degrees, and there is a certain lower relationship between hardness and strength.

About SIYOUTE

Wuxi Siyoute is a collection of production and foreign trade sales in one of the export rights of the factory, the company was founded in 2011, sales at home and abroad, the company mainly to produce aluminum products, such as aluminum coil, aluminum plate, aluminum tube. We are committed to giving customers high quality and goods and excellent service attitude. Among aluminum products of SIYOUTE, 5005 aluminum plate, 1100 aluminum plate, 1060 aluminum plate, etc. are all hot products. If you are looking for a aluminum products company, we trust we could be your ultimate station.Welcome to our website for purchase, click here and you will see the contact information of SIYOUTE.

[shinynerdlover]

Foundry Binders Market Opportunities And Emerging Trends 2020 - 2030

Foundry Binders Market: Introduction

The global foundry binders market was valued at US$ 3.3 Bn in 2019 and is anticipated to expand at a CAGR of ~4% during the forecast period. Based on product type, the organic segment held a prominent share of the global foundry binders market in 2019, as organic binders have high thermal stability and are cost effective. The segment is anticipated to dominate the foundry binders market in the near future.

In terms of industry structure, the jobbing segment accounted for a major share of the global foundry binders market in 2019. A key advantage of the jobbing process is that it leads to product variety, as resources can be allocated to a variety of projects at the same time. Based on application, the ferrous metals segment constituted a significant share of the global foundry binders market in 2019. This can be ascribed to high demand for ferrous cast products in automotive and construction industries.

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Competition Landscape of Foundry Binders Market

The global foundry binders market is highly fragmented with the presence of a large number of players operating at local, regional, and international levels. Key players operating in the global foundry binders market include ASK Chemicals, Vesuvius, HÜTTENES-ALBERTUS Chemische Werke GmbH, Imerys, United Erie, Mancuso Chemicals Limited, Eurotek Foundry Products Ltd, Kao Corporation, RPMinerals, John Winter, IVP Limited, and REFCOTEC.

Prominent Drivers of Foundry Binders Market

The increase in demand for better fuel efficiency and the enactment of stringent pollution emission regulations are estimated to boost the trend of production of automotive components by using lightweight materials over the next few years. In the past, automotive components were primarily made of iron and steel; however, of late, they are being replaced by aluminum. Aluminum possesses comparable strength and durability, and is lightweight. The use of lightweight materials reduces the overall weight of a vehicle, thereby improving its fuel efficiency.

Aluminum has been used in automobiles since more than two decades. It is primarily employed in engines, power train castings, wheels, cast parts, and extrusions. Introduction of new aluminum alloys and advanced production and welding techniques is expected to significantly increase the use of aluminum sheets in high-selling automobiles. However, the demand for aluminum is anticipated to be significantly higher in electric vehicles.

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The global demand for light vehicles is projected to rise over the next few years. According to the European Automobile Manufacturers’ Association, lightweight vehicle production is estimated to reach 108 million units by 2022. This is likely to boost the foundry industry and the foundry binders market during the forecast period.

Asia Pacific to Lead Foundry Binders Market

Asia Pacific dominated the global foundry binders market in 2019. It has emerged as a highly lucrative region in terms of industrial as well as urban development over the past few decades, due to significant rise in urbanization and industrialization in the region. Thus, the demand for cast products is high. This is likely to propel the foundry binders market in Asia Pacific in the near future.

China was a major country in the Asia Pacific foundry binders market in 2019. This can be ascribed to the expansion of the automotive industry in the country. China is also one of the leading producers of foundry binders in the world.

In terms of market share, Europe follows Asia Pacific in the global foundry binders market. Germany is expected to dominate the foundry binders market in Europe during the forecast period, due to the presence of a high number of automobile manufacturers in the country. Thus, the foundry binders market in Europe is likely to expand significantly during the forecast period.

The foundry binders market in North America, Latina America, and Middle East & Africa is projected to expand at a steady CAGR in the near future. Growth of the automobile industry and governmental initiatives to develop infrastructure are estimated to drive the foundry binders market in these regions in the near future.

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Major Developments in Foundry Binders Market

In May 2019, Vesuvius announced that it showcased 14 new product and equipment technologies at GIFA 2019, a highly important trade fair in the world for the foundry industry, held in June 2019 in Düsseldorf, Germany. Moreover, in January 2017, Imerys acquired Damolin, a Denmark-based company that manufactures mineral-based solutions. Damolin has more than 30 years’ of experience in the manufacture of mineral reserves of moler, a highly absorbing and lightweight mineral.

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[blueweave8]

Automotive Turbocharger Market Growth, Opportunity 2022-2028

A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global automotive turbocharger market was worth USD 11.9 billion in 2021. According to the study, the market is estimated to grow at a CAGR of 10.2% during the forecast period, i.e., 2022-2028, thereby reaching revenue figures of around USD 23.5 billion by 2028. The global automotive turbocharger market is experiencing high growth due to the growing demand for lightweight engines and the increasing production of passenger and heavy vehicles. In addition, governments in various countries are enforcing strict regulations regarding the emissions from fuel vehicles, which is likely to drive market growth over the forecast period. However, the increasing penetration of electric vehicles may act as a huge restraining factor for market growth.

Rising Demand for Diesel Engine is Propelling the Global Automotive Turbocharger Market Forward

Based on fuel types, the global automotive turbocharger market is segmented into diesel, gasoline, and alternate fuel/CNG. The diesel fuel segment accounts for the largest market share and is also projected to witness the highest CAGR during the forecast period. Turbocharged diesel fuel engines register higher efficiency and power output which drives the segment’s growth. Additionally, the use of diesel fuel in heavy vehicles such as trucks, and the addition of turbochargers in these vehicles, significantly increase gas mileage as well as reduce emissions and noise, which are contributing factors to its market growth.

Increasing Demand for Passenger Vehicles Driving the Global Automotive Turbocharger Market

Based on vehicle types, the global automotive turbocharger market is segmented into passenger cars, light commercial vehicles, trucks, and buses. Among these, the passenger cars segment accounted for the largest market share in 2021 because of the increasing demand for passenger cars worldwide. Statista estimates that passenger cars market unit sales will reach 71,466.16K by 2026. Increased disposable income, growing ownership of passenger cars, a flourishing cab industry and increasing passenger car production are boosting demand for passenger cars which is driving this segment's growth.

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Global Automotive Turbocharger Market - By Material Type

Based on material types, the global automotive turbocharger market is segmented into cast iron, aluminum, and others. The aluminum segment accounts for the largest market share as aluminum alloys are the most commonly used material for manufacturing automotive turbochargers due to their relatively high strength-to-weight ratio and the low compressor wheel inertia. Furthermore, turbochargers made of aluminum metal are also able to withstand high temperatures, especially in gasoline applications, which acts as a contributing factor to its market growth.

Global Automotive Turbocharger Market - Regional Insights

Geographically, the global automotive turbocharger market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, the Asia-Pacific region dominates the automotive turbocharger market. However, Europe also holds a substantial market share due to the presence of leading automobile companies, such as Porsche, Mercedes-Benz, BMW, Audi, Volkswagen, etc. Moreover, the increasing production of vehicles in Europe is also driving the growth of automotive charger market in this region. Similarly, North America is projected to have significant growth over the forecast period due to the widespread adoption of automotive turbochargers resulting from strict government regulations to reduce vehicle emissions.

Impact of COVID-19 on the Global Automotive Turbocharger Market

The automotive industry was among one of the worst affected markets due to the COVID-19 pandemic. This is because the production of both automobiles and their components, including turbochargers, were temporarily restricted due to the lockdown imposed by the countries to curb the spread of the virus. Asa result, the demand for turbochargers declined significantly during the COVID-19 period, incurring huge losses to the market.  Despite the regional lockdowns being lifted in different regions, the automotive turbocharger market is likely to grow slowly in the forecast period due to limited automotive production worldwide owing to the shortage of semiconductors during the pandemic.

Global Automotive Turbocharger Market - Competitive Landscape

The leading players in the global automotive turbocharger market are BorgWarner Inc., IHI Turbo America, Continental AG, Precision Turbo and Engine, Cummins Turbo Technologies, Mitsubishi Heavy Industries Ltd, Delphi Technologies, Magnum Performance Turbos, Honeywell International Inc., Turbo Dynamics Ltd., Rotomaster International, Bosch Mahle, ABB, Weifang Fuyuan Turbocharger Co Ltd, Hunan Tyen Machinery, Ningbo Motor Industrial Co., Ltd., Kompressorenbau Bannewitz GmbH, CIMOS d.d., Marelli Corporation, and other prominent players.

The global automotive turbocharger market is highly competitive and consolidated due to the presence of multinational players offering advanced quality turbochargers. The companies often launch new products with higher efficiency and improvements to gain a competitive edge. They are also focusing on distribution channels and resorting to online sales channels to target untapped markets and geographical locations. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

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[sharvaricmi]

Magnesium Metal Market Statistics, Global Analysis, Demand, Revenue and Trend Analysis Research Report by 2027

Metals such as magnesium are among the lightest metals which can be used for structural uses. Silvery white in color, this metal can be extracted from seawater or brine. The production of aluminum is a major application for magnesium metal, where it can improve physical properties and processability. These compounds are mostly used in the production of lighter components and in the desulphurization of iron and steel. As well as being a reduction agent, it is also used in the manufacture of hafnium, titanium, uranium, and zirconium.

When compared to marketplaces in other regions, the Asia Pacific Magnesium Metal Market is predicted to account for the largest market share in terms of revenue. This can be linked to the region's growing use of magnesium metal in end-use sectors such as automotive and electronics. Due to factors such as rising demand for magnesium metal in the manufacture of automotive wheels, transmission cases, and engine blocks, the market in North America contributes the second-highest revenue share contribution to the global magnesium metal market, followed by markets in Europe, Latin America, and the Middle East and Africa.

Particular regulatory agencies mandate the use of magnesium metal and its alloys in certain applications such as automotive and aerospace, which is predicted to stifle the market growth of magnesium metal. Major companies are restricting the use of magnesium metal due to rigorous laws and restrictions, which is projected to stifle market growth. 

Read more @ https://cmiaspireblog.blogspot.com/2021/12/global-magnesium-metal-market-analysis.html

[lucyj2223]

Steering Wheel Armature Market Report 2020 By Key Players, Types, Applications, Countries, Size, Forecast By 2026 (Based On 2020 COVID-19 Worldwide Spread)

The report on Global Steering Wheel Armature Market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the Global Steering Wheel Armature Market over the period of 2021 to 2027. Furthermore, the report is a collective presentation of primary & secondary research findings.

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The steering wheel armature is defined as the component of automotive vehicle that gives the structural foundation for all steering wheel mountings such as airbags, driver controls, etc. Magnesium alloy, aluminum alloy are used for manufacturing of steering wheel armature due to the durability and cost effective manufacturing.

The Global Steering Wheel Armature Market is segmented into material type such as Magnesium or Magnesium Alloy, Steel or Steel Alloy, Carbon fiber, and others, by number of spokes such as One, Two, Three, Four, and Six. Further, market is segmented into application such as Passenger Car, and Commercial Car.

Also, the Global Steering Wheel Armature Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Nihon Plast Co., Ltd., Lunt Manufacturing, Getac Technology Corporation, Tianjin Liuhe Magnesium Product Co., Ltd., Shanghai Fangle Auto Parts Co. Ltd, Magpulse Technologies Pvt. Ltd., Summit Steering Wheel Co., Ltd., STARION CO., LTD, ROS INDUSTRIE SRL, etc.

Market Taxonomy

By Material Type

·        Magnesium or Magnesium Alloy

·        Steel or Steel Alloy

·        Carbon fiber

·        Others

By Number of Spokes

·        One

·        Two

·        Three

·        Four

·        Six

By Application

·        Passenger Car

·        Commercial Car

By Region

·        North America

·        Latin America

·        Europe

·        Asia Pacific

·        Middle East & Africa

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Global Automotive Metal Wheel Market by Player, Region, Type, Application and Sales Channel 2021-2030

This report studies the Automotive Metal Wheel market, covering market size for segment by type (Steel Wheel, Aluminium Alloy Wheel, etc.), by application (Passenger Car, Commercial Vehicle, etc.), by sales channel (Direct Channel, Distribution Channel), by player (Iochpe-Maxion, CITIC Dicastal, Borbet, CMW, Superior Industries, etc.) and by region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).

This report provides detailed historical analysis of global market for Automotive Metal Wheel from 2015-2020, and provides extensive market forecasts from 2021-2030 by region/country and subsectors. It covers the sales/revenue/value, gross margin, historical growth and future perspectives in the Automotive Metal Wheel market.

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Moreover, the impact of COVID-19 is also concerned. Since outbreak in December 2019, the COVID-19 virus has spread to all around the world and caused huge losses of lives and economy, and the global manufacturing, tourism and financial markets have been hit hard, while the online market/industry increase. Fortunately, with the development of vaccine and other effort by global governments and organizations, the negative impact of COVID-19 is expected to subside and the global economy is expected to recover.

This research covers COVID-19 impacts on the upstream, midstream and downstream industries. Moreover, this research provides an in-depth market evaluation by highlighting information on various aspects covering market dynamics like drivers, barriers, opportunities, threats, and industry news & trends. In the end, this report also provides in-depth analysis and professional advices on how to face the post COIVD-19 period.

The research methodology used to estimate and forecast this market begins by capturing the revenues of the key players and their shares in the market. Various secondary sources such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, have been used to identify and collect information useful for this extensive commercial study of the market. Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

Leading players of Automotive Metal Wheel including:

Iochpe-Maxion

CITIC Dicastal

Borbet

CMW

Superior Industries

Topy Group

Accuride

Alcoa

Ronal Wheels

Wanfeng Auto

Lizhong Group

Jingu Group

DFW

Uniwheel Group

ALCAR

Zhejiang Jinfei

Enkei Wheels

Zhongnan Aluminum Wheels

YHI

Yueling Wheels

Guangdong Dcenti Auto-Parts

Market split by Type, can be divided into:

Steel Wheel

Aluminium Alloy Wheel

Market split by Application, can be divided into:

Passenger Car

Commercial Vehicle

Market split by Sales Channel, can be divided into:

Direct Channel

Distribution Channel

Market segment by Region/Country including:

North America (United States, Canada and Mexico)

Europe (Germany, UK, France, Italy, Russia and Spain etc.)

Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)

South America (Brazil, Argentina and Colombia etc.)

Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)

If you have any special requirements, please let us know and we can provide you the customized report as you want.

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Table of content

Table of Contents Chapter 1 Automotive Metal Wheel Market Overview 1.1 Automotive Metal Wheel Definition 1.2 Global Automotive Metal Wheel Market Size Status and Outlook (2015-2030) 1.3 Global Automotive Metal Wheel Market Size Comparison by Region (2015-2030) 1.4 Global Automotive Metal Wheel Market Size Comparison by Type (2015-2030) 1.5 Global Automotive Metal Wheel Market Size Comparison by Application (2015-2030) 1.6 Global Automotive Metal Wheel Market Size Comparison by Sales Channel (2015-2030) 1.7 Automotive Metal Wheel Market Dynamics (COVID-19 Impacts) 1.7.1 Market Drivers/Opportunities 1.7.2 Market Challenges/Risks 1.7.3 Market News (Mergers/Acquisitions/Expansion) 1.7.4 COVID-19 Impacts on Current Market 1.7.5 Post-Strategies of COVID-19 Outbreak Chapter 2 Automotive Metal Wheel Market Segment Analysis by Player 2.1 Global Automotive Metal Wheel Sales and Market Share by Player (2018-2020) 2.2 Global Automotive Metal Wheel Revenue and Market Share by Player (2018-2020) 2.3 Global Automotive Metal Wheel Average Price by Player (2018-2020) 2.4 Players Competition Situation & Trends 2.5 Conclusion of Segment by Player Chapter 3 Automotive Metal Wheel Market Segment Analysis by Type 3.1 Global Automotive Metal Wheel Market by Type 3.1.1 Steel Wheel 3.1.2 Aluminium Alloy Wheel 3.2 Global Automotive Metal Wheel Sales and Market Share

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Asia-Pacific Aluminum casting market is growing at a CAGR of 9.0%in the forecast period of 2020 to 2027|Major Competitors Alcoa Corporation, Endurance Technologies Limited, Ryobi Limited, DyCast Specialties Corporation, Consolidated Metco, Inc., Alcast Technologies

Aluminum casting market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 9.0% in the forecast period of 2020 to 2027 and expected to reach USD 67,727.88 million by 2027. Growing investment in automobile industry adopts the utilization of aluminum casting products are the factors for the market growth. Asia-Pacific region is dominating due to increasing in the production of aluminum products and it is the reason why the casting process is very much dominating in China as the country is leading the highest production of aluminum

Casting is the process through which raw aluminum is converted into the products by heating and pouring. The process permits the producer to manufacture parts at a higher and faster rate as compared to any other alloy materials. With the help of casting process the products which are formed has become corrosion resistant, versatile and can be used for wide range of applications. Rise in the number of lightweight vehicles is accelerating the consumption of aluminum casting products which drives the market growth globally.

Global Aluminum Casting Market By Process (Expendable Mold Casting and Non-Expendable Mold Casting), By Source (Primary (Fresh Aluminium) and Secondary (Recycled Aluminium), By Application (Intake Manifolds, Oil Pan Housings, Structural Parts, Chassis Parts, Cylinder Heads, Engine Blocks, Transmissions, Wheels & Brakes, Heat Transfers and Others), By End-User (Automotive, Building And Construction, Industrial, Household Appliances, Aerospace, Electronic And Electrical, Engineering Tools and Others), Country (U.S., Canada and Mexico, Germany, U.K., France, Italy, Switzerland, Spain, Russia, Belgium, Netherlands, Turkey and Rest of Europe, China, Japan, South Korea, India, Singapore, Australia, Thailand, Malaysia, Indonesia, Philippines and rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel and Rest of Middle East and Africa) – Industry Trends and Forecast to 2027This aluminum casting market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

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Aluminum Casting Market, By Process:

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Growth in the Automobile industry:

Asia-Pacific aluminum casting market also provides you with detailed market analysis for every country growth in installed base of different kind of products for aluminum casting market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the aluminum casting market. The data is available for historic period 2010 to 2018.

Asia-Pacific Aluminum Casting Market Scope and Market Size:

Asia-Pacific aluminum casting market is segmented of the basis process, source, application and end-user. The growth among segments helps you analyses niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets. On the basis of process, the market is segmented into expendable mold casting and non-expendable mold casting. In Asia-Pacific, the non-expendable mold casting segment is increasing in the China because the maximum car parts which are produced such as engine blocks or structural parts have been manufactured majorly through the high pressure die casting process.

On the basis of source, the market is segmented into primary (fresh aluminum) and secondary (recycled aluminum). In Asia-Pacific, the country like the China have low rates of recycling because of the inadequate initiatives by government to support recycling process in these countries and that is the reason why the region is focusing towards the fresh aluminum to manufacture the products. On the basis of application, the market is segmented into intake manifolds, oil pan housings, structural parts, chassis parts, cylinder heads, engine blocks, transmissions, wheels & brakes, heat transfers and others. Due to the increased demand of automobiles in the local market the demand of wheels and brakes has been growing which further augmented the demand of aluminum casting products in the region. On the basis of end-user, the market is segmented into automotive, building and construction, industrial, household appliances, aerospace, electronics and electrical, engineering tools and others. In Asia-Pacific, the demand of vehicles has been increased in the countries like the China and India. The companies like Ford motor company have started mass production techniques which has boosted the demand of automobile sector in the region.

Key Market Competitors:

The major players covered in the report are Alcoa Corporation, Endurance Technologies Limited, Ryobi Limited, DyCast Specialties Corporation, Consolidated Metco, Inc., Alcast Technologies, Ningbo Beilun Create Mould Machine Co., Ltd, Leggett & Platt, Incorporated, Martinrea Honsel Germany GmbH, Gibbs, Dynacast, Reliance Foundry Co. Ltd., Toyota Industries Corporation, LA Aluminum, TPi Arcade, Drahtwerk Elisental W. Erdmann GmbH & Co., Wagstaff Inc., Ningbo Innovaw Mechanical CO.,LTD., Modern Aluminum Castings CO., INC. and Pacific Die Casting Corp. among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

MAJOR TOC OF THE REPORT:

Chapter One: Asia-Pacific Aluminum Casting Market Overview

Chapter Two: Manufacturers Profiles

Chapter Three: Asia-Pacific Aluminum Casting Market Competition, by Players

Chapter Four: Asia-Pacific Aluminum Casting Market Size by Regions

Chapter Five: Asia-Pacific Aluminum Casting Market Revenue by Countries

Chapter Six: Asia-Pacific Aluminum Casting Market Revenue by Type

Chapter Seven: Asia-Pacific Aluminum Casting Market Revenue by Application

Chapter Eight: Asia-Pacific Aluminum Casting Market Revenue by Industries

Chapter Nine: Asia-Pacific Aluminum Casting Market Revenue by Deployment Model

Chapter Ten: Asia-Pacific Aluminum Casting Market Revenue by End User

Get Table of Content on Request @ https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-aluminum-casting-market

Reasons for Buying this Asia-Pacific Aluminum Casting Market Report:

Laser Capture Asia-Pacific Aluminum Casting Market, report aids in understanding the crucial product segments and their perspective.

Initial graphics and exemplified that a SWOT evaluation of large sections supplied from the Laser Capture Asia-Pacific Aluminum Casting Market industry.

Even the Laser Capture Asia-Pacific Aluminum Casting Market economy provides pin line evaluation of changing competition dynamics and retains you facing opponents.

This report provides a more rapid standpoint on various driving facets or controlling Medical Robotic System promote advantage.

This worldwide Locomotive report provides a pinpoint test for shifting dynamics that are competitive.

The key questions answered in this report:

What will be the Market Size and Growth Rate in the forecast year?

What is the Key Factors driving Laser Capture Asia-Pacific Aluminum Casting Market?    

What are the Risks and Challenges in front of the market?

Who are the Key Vendors in Asia-Pacific Aluminum Casting Market?  

What are the Trending Factors influencing the market shares?

What is the Key Outcomes of Porter’s five forces model?

Which are the Global Opportunities for expanding the Asia-Pacific Aluminum Casting Market?

Access Full Report @ https://www.databridgemarketresearch.com/reports/asia-pacific-aluminum-casting-market  

Browse Related Report:

Middle East and Africa Aluminum Casting Market

Europe Aluminum Casting Market

North America Aluminum Casting Market

About Us:

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market

Contact:

Data Bridge Market Research

Tel: +1-888-387-2818

Email: Sopan.gedam@databridgemarketresearch.com  

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Global Automotive Wheels Aftermarket Competitive Analysis with Growth Forecast Till 2025

The report “Automotive Wheels Aftermarket by Aftermarket (New Wheel Replacement & Refurbished Wheel Fitment), Vehicle (PC, CV), Coating (Liquid, Powdered), Material, Rim Size (13-15 Inch, 16-18 Inch, 19-21 Inch, Above 21 Inch), and Region – Global Forecast to 2025″ Global automotive wheels aftermarket is projected to grow at a CAGR of 3.53% from USD 3.5 billion in 2018 to reach USD 4.5 billion by 2025. The growth of the automotive wheels aftermarket is influenced by factors such as accident rates, changing consumer preferences for stylish wheels, and the growing number of automobile enthusiasts in Europe and North America.

Passenger Cars: Increased passenger car sales and better vehicle handling is expected to drive the automotive wheels aftermarket

The passenger cars segment is the largest of all segments of the automotive wheels aftermarket and is expected to witness significant growth during the forecast period. The growing trend of engine downsizing and vehicle weight reduction without compromising vehicle performance has accentuated the need for wheels made of advanced materials. Passenger cars are now using lightweight alloy wheels that improve the performance of the vehicle. Also, the use of lightweight wheels has resulted in improved vehicle dynamics and performance compared to conventional wheels.

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Alloy: Improves the appearance of the wheels

Alloy is expected to be the fastest market for global automotive wheels aftermarket. The growth is due to factors such as corrosion resistance, durability, high tensile strength, density, ductility, and malleability. The two major or commonly used components in the making of alloy wheels are aluminum and magnesium.  Aluminum is a lightweight material and is ductile, durable, and corrosion-resistant. Cars manufactured using aluminum are lightweight, fuel efficient, and emission efficient.

Asia Pacific: China is expected to lead the Asia Pacific market  

The Asia Pacific region is estimated to be the fastest growing market. The region comprises some of the fastest developing economies of the world such as China and India. The Asia Pacific region is home to key suppliers of automotive wheels such as Enkei (Japan) and Zhejiang Wanfeng Auto Wheel (China). Factors such as the availability of cheap labor and favorable government policies help undertake mass production of automotive components in Asia Pacific, which results in lower prices. In addition, high investments by major OEMs in advanced technologies are providing growth opportunities for the aftermarket wheels manufacturers in this region.

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Key Market Players:

The major aftermarket wheels players are RONAL Group (Switzerland), BORBET Gmbh (Germany), Enkei Corporation (Japan), Carlstar (US), and Maxion Wheels (US).

Key questions addressed in the report

Where     will vehicle sales take the industry in the long term?

Will     the industry cope with the challenge of high standards of automotive     wheels?

How do     government regulations impact the automotive wheels aftermarket?

What     are the upcoming trends in the aftermarket? What impact do they make     post-2020?

What     are the key strategies adopted by top players to increase their revenue?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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Automotive Alloy Wheel Market 2021 | Synopsis and Highlights, Key Findings, Major Companies Analysis and Forecast to 2023

Market Synopsis:

Alloy wheels for automotive are made from different types of materials such as aluminum, nickel, or a magnesium material. The casting and forging method is used for manufacturing alloy wheels. On the other hand, forged wheels are lighter and stronger, but also cost more than cast alloy wheels. Alloy wheels provide greater strength, better heat conduction, and cosmetic appearance as compared to steel wheels. Hence, consumers prefer alloy wheels for external styling of vehicles and good riding quality.

The survey conducted by Market Research Future (MRFR) has suggested that the global automotive alloy wheel market is likely to register a 5% cagr during the forecast period. Factors attributing to the ascension of the global automotive alloy wheel market include the snowballing demand for vehicles in Europe as well as Asia Pacific and the mounting growth of the automotive industry. Further, a rise in the vehicle customization and upscaling disposable income is likely to accelerate the growth of the global automotive alloy wheels market.

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Market Segmentation

The global automotive alloy wheel market is segmented by finishing type, wheel type, vehicle type, sales channel, and region. Based on finishing type, the global automotive alloy wheel market is segmented into polished alloy wheel and two-toned alloy wheel. The two toned alloy wheel segment is estimated to upscale at a fast pace over the forecast period. This can be owed to the growing demand for SUVs.

Based on wheel type, the global automotive alloy wheel market is segmented into compact size, mid size, and full size. The compact-size segment is likely to project growth at a substantial rate over the forecast period due to a mounting demand for lightweight wheels which are stronger.

Based on vehicle type, the global automotive alloy wheel market is segmented into passenger cars and commercial vehicles. The passenger car segment is likely to account for a  dominant share of the market owing to the growing demand for the same in both, developing as well as developed countries.

Based on sales channel, the global automotive alloy wheel market is segmented into OEM and aftermarket. The OEM segment is projected to be the dictator of the automotive alloy wheel market over the assessment period. This can be owed to the presence of various OEMs in the developed regions, and the presence of a larger consumer base in these regions. Furthermore, OEMs are more inclined towards the expansion of automotive wheel manufacturing facilities in developing nations such as China, India, Mexico, and Brazil.

 Browse Report @ https://www.marketresearchfuture.com/reports/automotive-alloy-wheel-market-3931

 Detailed Regional Analysis

The global automotive alloy wheel market is segmented into the regions of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. Asia Pacific is estimated to hold the most prominent share of the global automotive alloy wheel market during the assessment period. This can be accredited to the growing production and sales of passenger cars and commercial vehicles, especially in the developing nations such as China, Japan, Thailand, and Indonesia. North America and Europe are likely to undertake second largest and third largest shares of the global automotive alloy wheel market over the forecast period. Growth in North America is attributed to the increased preference for external styling and customization of wheels. Further, upscaling use of alloy wheels in vans, pickup trucks, and utility vehicles from the US and Canada is also fostering the growth of the regional automotive alloy wheel market.

Key Players

Some prominent players in the global automotive alloy wheel market include Euromax Wheel (US), MHT Luxury Wheels (US), Status Wheels, Inc. (US), Wheel Pros, LLC (US), Fuel Off-Road Wheels (US), SOTA Offroad (US), Enkei Wheels India Ltd (India), Ronal AG (Switzerland), Uniwheels (Switzerland), and BBS Kraftfahrzeugtechnik AG (Germany).

 Key Questions Addressed by the Report

What was the historic market size     (2020)?

Which segmentation (Product/     Capacity) is driving market?

What will be the growth rate by     2023?

How are the key players in this     market?

What are the strategies adopted by     key players?

TABLE OF CONTENTS

 1 EXECUTIVE SUMMARY

 2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

 About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact Company Name: Market Research Future Contact Person: Abhishek Sawant Email: Send Email Phone: +1 646 845 9312 Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar City: Pune State: Maharashtra Country: India Website: https://www.marketresearchfuture.com

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Metal Forging Market Trend, Industry Restraints, Segmentation, Emerging Economies and Key Players

Market Synopsis: According to the MRFR analysis, Metal Forging Market was valued at more than USD 75.5 Billion in 2018 and is expected to reach over USD 118 Billion by the end of 2025 at a CAGR of 6.6%.

Metal forging is a metalworking process, wherein a metal is deformed in a controlled manner by using compressive forces to form a specific shape product. It is widely used to manufacture complex structured components for the automotive, aerospace & defense, power, and oil & gas industries.

The prominent factors driving the growth of the global market are increasing demand for both passenger and commercial vehicles, growing commercial aircraft production, and increasing demand for metal forged parts in the nuclear power industry.

Global Metal Forging Market Trend was valued at over USD 75.5 Billion in 2018 and is projected to register a CAGR of above 6% during the forecast period, 2019–2025.

By Raw Material

Steel: The steel segment was the     dominant raw material segment in 2018 with a market share of over 70%.     This is mainly attributed to its strength, availability, a higher degree     of reliability and tolerance capabilities, and use of specialized alloy     types such as stainless steel and carbon steel. It is widely used for the     production of forged components for the automotive, oil & gas,     aerospace, agriculture machinery, and other general industries. This is     mainly attributed to high strength and durability, dense, non-porous aspect     of forged steel parts, close tolerances, increased product efficiency, and     low cost offered by steel forgings. Additionally, steel forge parts are     free from gas voids, pockets, or cooling defects, thus avoiding load     failure.

This segment is further segmented into carbon steel, alloy steel, and stainless steel.

Aluminum: This segment is expected to     register healthy growth during the forecast period owing to the increasing     demand for light-weight materials in the automotive and aerospace     industries, wherein performance and safety are critical as well     light-weight metal is desired to increase the energy efficiency. Moreover,     aluminum offers a resistance to corrosion, maximum impact strength,     superior internal integrity, and elimination of internal voids. Pistons,     gears and wheel spindles in high performance automobiles and aircraft are     the major applications of forged aluminum. The major developments in the     aluminum forging segment have been witnessed in recent years. For     instance, in August 2018, Bharat Forge Ltd announced     to invest USD 55 million to start an aluminum forging     operation in Tennessee, US, which is expected to commence in the second     half of 2020.

Magnesium: Magnesium offers excellent     mechanical strength and stiffness, high strength-to-weight ratio, damping     qualities, and high dent and impact resistance. Owing to these     characteristics, magnesium and its alloys are ideal for forging     lightweight, durable parts for a wide variety of structural and     nonstructural applications varying from aerospace, power tools, and     industrial machinery to commercial and military aircraft.

Nickel-Based     Alloys: Nickel-based     alloys are ideal materials for parts and components used for pumps, piping     systems, valves, process equipment, as well as turbines and assemblies in     the marine, oil and gas, chemical processing, aerospace and defense     industries. This is mainly attributed to the high resistance to heat,     corrosion, and acid coupled with excellent wearability offered by these     alloys.

Titanium: Titanium metal has the highest     strength to density ratio of any metallic elements. It provides excellent     durability and resistance to corrosion which is why it is used in     applications requiring high operating temperature, high strength,     lightweight, and high corrosion resistance.

Others: The other segment includes     copper, iron, and brass.

 By Type

Closed-die     Forging: Closed-die     forging, also known as impression-die forging, is the most popular metal     forging process, with the segment accounting for a share of over 65% of     the market in 2018. This is mainly attributed to the compatibility of all     metals with the process; closed-die forged metal components require less     machining; allows to produce near net shapes; and supports high production     runs.

Open-die     Forging: Open-die     forging, the other widely used forging process, offers several benefits     such as better fatigue resistance, less material waste, reduced chance of     voids, valuable cost savings, owing to which is commonly used for steel     and steel alloys forging.

Ring     Rolling: Ring     rolling is widely used for producing forged metal parts for the nuclear,     general industrial, and pharmaceutical industries. This process can be     used to manufacture metal parts of various heights, diameters, weights,     and varied shapes, making it a versatile process. Additionally, it is one     of the most cost-effective forging processes.

Others: This segment covers the     upset forging and precision forging.

 By End-Use Industry

Automotive: The automotive industry has     been the major consumer for metal forging and this trend is expected to     continue in the near future. The segment held a market share of over 50% in     2018, owing to the widespread use of metal forging in the automotive     industry coupled with the surging demand for passenger cars in the     emerging economies. The components include engine components, transmission     components, steering, front axle, and rear axle. Additionally, the     increasing use of forged-aluminum parts in the automobiles to meet the     lightweight and high strength requirements is likely to favor the growth     of the segment during the assessment period.

Aerospace     & Defense: Aerospace     & defense is expected to register the highest CAGR during the review     period. This is mainly attributed to the rising demand for commercial     aircraft, thus speeding up the production rates. According to the Airbus     data, the commercial aircraft order backlog is at its peak and is expected     to produce over 20,000 aircraft globally over the next     decade. Metal forged parts offer high strength-to-weight ratio and     structural reliability, thus favoring the performance, range, and payload     capabilities in the aerospace industry. Metal forgings are widely used in     jets and piston-engine planes, engine mounts, helicopters, military     aircraft, and spacecraft. Furthermore, with the geopolitical tensions     continuing to increase, the demand for military equipment is expected to     be on the uptick, thus boosting demand for metal forgings during the     forecast period.

Power: The power segment is also     expected to register significant growth during the review period on     account of the increasing dependence on nuclear power reactors to generate     electricity. In 2018, nuclear power plants supplied 2,563 TWh of     electricity, up from 2,503 TWh in 2017. Metal forgings are     widely used in the manufacturing of pressure vessels, generator rotors,     valve bodies, turbine blades and rotors, and fittings for power generation     equipment. The clear need for increasing the energy capacity around the     world to meet the growing demand for electricity is further expected to     propel the market growth in the years to follow.

Oil     & Gas: Metal forged     products are used in a wide range of applications ranging from onshore to     offshore, midstream, subsea, and downstream.

Others: The other segment includes     medical, sports, and mining.

 By Region

North     America: Market     growth is driven by the well-established automotive industry

Europe: Germany is the largest     contributor to the regional market growth owing to the growing nuclear     power industry.

Asia-Pacific: The largest and     fastest-growing regional market for metal forging.

Latin     America: A     small but growing automotive industry is likely to fuel the demand for     metal forging in the coming years.

Middle     East & Africa: High     growth potential of the automotive manufacturing hub in Egypt, UAE, and     Saudi Arabia, may propel the regional market growth during the forecast     period.

 Regional Analysis

North     America: The     regional market has a well-established automotive industry and is the     leading region in the aerospace & defense market. The widespread     presence of manufacturing hub and increasing demand for aluminum and     nickel-based forgings in the automotive and defense industry is likely to     propel the growth of the regional market in the coming years.

Europe: The automotive industry in     Europe is projected to witness healthy growth during the forecast period.     Additionally, the dependence of the region on electricity generation from     power plants is expected to boost demand for metal forging in the     manufacturing of power generation equipment.

Asia-Pacific: The market in Asia-Pacific for     metal forging held the largest market share, of more than 50% in     2018 and is projected to retain its dominance during the forecast period.     This is primarily due to the high demand for the product in the automotive     and aerospace industries. The contributors to the robust growth of the     regional market are China, India, and South Korea.

Latin     America: The     automotive industry in the regional market is relatively small, yet     rapidly expanding, which is expected to boost the demand for metal forging     during the review period.

Middle     East & Africa: In 2018,     the market for metal forging in the region accounted for a relatively     smaller market share. However, the high potential of the automotive     manufacturing sector in the region and the ease of availability of raw     materials (metals) for forging, is projected to propel the market growth     in the coming years.

 KEY PLAYERS

Arconic (US)

China First Heavy Industries     (China)

ATI (US)

Bharat Forge (India)

JAPAN CASTING & FORGING CORP.     (Japan)

LARSEN & TOUBRO LIMITED     (India)

Brück GmbH (Germany)

Forgiatura Marcora (Italy)

NIPPON STEEL CORPORATION (Japan)

North American Forgemasters (US)

OMZ-Special Steels LLC (Russia)

PILSEN STEEL s.r.o. (Czech     Republic)

JIANGYIN HENGRUN HEAVY INDUSTRIES     CO., LTD (China)

Bharat Heavy Electricals Limited     (India)

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