The Aluminum Casting Market in India is being driven by Growing use of aluminium casting in automotive industry
The Aluminum Casting Market in India is expected to grow at a CAGR of 11.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 10612.6 million. In the Indian market, aluminum, known for its recyclable properties, holds significant value. The aluminum production process involves extracting and preparing scrap aluminum through advanced techniques such as laser induce breakdown spectroscopy and color sorting, enhancing its quality and market value. Secondary aluminum production, which recycles scrap, offers a 92% energy efficiency advantage over primary aluminum production, making aluminum scrap a lucrative commodity. Despite slightly higher casting prices compared to cast iron, aluminum's energy savings in production result in substantial cost benefits.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.1% |
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Market growth 2025-2029 |
USD 10612.6 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
8.8 |
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Key countries |
India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Aluminum Casting Market in India is witnessing significant growth due to the increasing demand for environmental protection, lightweight materials, and high-performance materials. Secondary aluminum casting, aluminum material innovations, and aluminum alloy development are key trends. Sectors like wind energy generation, die casting, and permanent mold casting are major consumers. Aluminum is an abundant element found in the Earth's crust, extracted from mineral ores through energy-intensive processes like refining and electrolysis, resulting in alumina. Industries like heavy machinery, aerospace, defense, and construction use aluminum for its strength and versatility. Steel industry is also exploring aluminum as a viable alternative due to its lightweight properties.
The Indian aluminum casting market is a significant segment of the global aluminum industry, which encompasses businesses involved in the production of primary and secondary aluminum, as well as the mining and processing of bauxite. Key growth drivers for the global aluminum market include the expanding demand for aluminum in various industries, such as construction, electrical, and transportation. This demand is fueled by population growth, urbanization, and economic expansion. Furthermore, the increasing focus on environmental sustainability and the adoption of lightweight and high-performance materials in various sectors are expected to boost the market for aluminum casting in India. Additionally, advancements in aluminum material innovations and alloy development, particularly in the context of renewable energy generation, are creating new opportunities for market expansion. Technavio projects that the global aluminum market will experience significant growth due to these factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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