ALUMINUM CASTING MARKET ANALYSIS

Regional Analysis

Asia Pacific is the largest market for aluminum casting. This is due to the presence of some of the largest aluminum producing countries in this region. China, Australia, UAE, and India make up four of the top five aluminum producing countries in the world. The burgeoning automobile sector and proximity to the source have boosted the aluminum casting industry. Furthermore, there is currently a dearth of technical expertise in the aviation sector, but robust technological innovations in China is expected to boost the aviation market as well. For instance, in May 2017, China launched its first homemade jet known as C919
Europe and North America are the next largest markets due to the presence of lucrative automobile industry and major airline manufacturing companies such as Airbus, Boeing, Cessna, and Bombardier in these regions. Raw material aluminum is mainly imported from Asia Pacific and engineered as per needs on site
Latin America aluminum market has shrunken in recent years due to the slowdown of the economy in the region. Moreover, rising power costs has forced companies to invest elsewhere. According to the International Aluminum Institute (IAI), the regional production rate has halved from 2.70 million tons a year in 2008 to 1.33 million tons in 2015
In the Middle East, the UAE and Bahrain are the major aluminum mining countries. The largest aluminum producer in the Middle East region, Emirates Global Aluminum plans to list the company on the local stock exchange in order to raise funds. The company is valued at US$ 15 billion and seeks further investments to reduce the dependency of the kingdom on hydrocarbon revenue
Africa is a nascent market for aluminum with lower production as compared to other regions. The largest producer in the region is Guinea. Consumption in the region is low and most of the manufactured aluminum is exported