Latin America Aluminum Casting Market Size & Outlook
Latin America aluminum casting market, 2017-2030 (US$M)
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Latin America aluminum casting market highlights
- The Latin America aluminum casting market generated a revenue of USD 5,865.7 million in 2022.
- The market is expected to grow at a CAGR of 3.9% from 2023 to 2030.
- In terms of segment, die casting was the largest revenue generating process in 2022.
- Die Casting is the most lucrative process segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 5,865.7 million |
| Market revenue in 2030 | USD 7,964.1 million |
| Growth rate | 3.9% (CAGR from 2022 to 2030) |
| Largest segment | Die casting |
| Fastest growing segment | Die Casting |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Die Casting, Permanent Mold Casting, Other Processes |
| Key market players worldwide | Alcoa Corp, Ramaco Resources Inc Class A, Bravo Mining Corp, Redwire Corp, Georg Fischer AG, Dynatrace Inc Ordinary Shares, Gibb River Diamonds Ltd, Ryobi Ltd, Martinrea International Inc, Toyota Industries Corp, Aluminum Corp of China Ltd Class H |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.4% of the global aluminum casting market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 70,778.8 million by 2030.
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Aluminum Casting Market Scope
Aluminum Casting Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America aluminum casting market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aluminum casting market will help companies and investors design strategic landscapes.
Die casting was the largest segment with a revenue share of 65.89% in 2022. Horizon Databook has segmented the Latin America aluminum casting market based on die casting, permanent mold casting, other processes covering the revenue growth of each sub-segment from 2017 to 2030.
Central & South America is anticipated to witness least CAGR compared to other regions of the global aluminum casting market. The growth in the region was impacted in 2020, with emergence of the COVID-19 pandemic. The GDP of Central & South America contracted by around 8% in 2020. Supply chain disruptions and declining investments owing to coronavirus outbreak are the major factors that are likely to contribute to the economic decline of the region
Brazil and Argentina are expected to be the worst-hit nations in the region. With government initiatives towards economy recovery, the impact of the COVID-19 pandemic is expected to deteriorate, which is anticipated to augment demand for aluminum casting over the coming years. Foreign Direct Investments is also likely to benefit market growth in the region.
For instance, investments by Chinese automotive manufacturer, BYD Auto Industry Co., Ltd., and Japanese automotive player, Toyota, to set up a manufacturing facility in Central & South America are expected to boost the automotive production, thereby, propelling need for aluminum casting.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America aluminum casting market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America aluminum casting market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America aluminum casting market size, by country, 2017-2030 (US$M)
Latin America Aluminum Casting Market Outlook Share, 2022 & 2030 (US$M)
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