South Korea Aluminum Casting Market Size & Outlook
South Korea aluminum casting market, 2017-2030 (US$M)
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South Korea aluminum casting market highlights
- The South Korea aluminum casting market generated a revenue of USD 2,320.0 million in 2022 and is expected to reach USD 3,639.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.8% 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.
Aluminum casting market data book summary
| Market revenue in 2022 | USD 2,320.0 million |
| Market revenue in 2030 | USD 3,639.5 million |
| Growth rate | 5.8% (CAGR from 2022 to 2030) |
| Largest segment | Die casting |
| Fastest growing segment | Die Casting |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 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, South Korea accounted for 2.6% of the global aluminum casting market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China aluminum casting market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,522.3 million by 2030.
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Aluminum Casting Market Scope
Aluminum Casting Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 93.31% in 2022. Horizon Databook has segmented the South Korea aluminum casting market based on die casting, permanent mold casting, other processes covering the revenue growth of each sub-segment from 2017 to 2030.
South Korea is one of the fastest developing economies in the region with a huge manufacturing sector, especially in transportation and consumer durable industries. As of February 2, 2021, the country ranks 86th in the world in terms of coronavirus cases.
Although, country was quite successful in controlling spread of the virus, but the second wave of pandemic resulted in a hike in new cases in December and January 2021, which can impact manufacturing and other such activities in the country. Developments in the EV industry is anticipated to augment demand for aluminum casting in the country over the forecast period.
For instance, according to various South Korean media sources, the Sebang Lithium Battery Co., Ltd. company announced to build a new battery plant in Gwangju, South Korea, with an investment of KRW 115 billion (~USD 103.02 million).
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Our clientele includes a mix of aluminum casting market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea aluminum casting market , including forecasts for subscribers. This country databook contains high-level insights into South Korea aluminum casting market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea aluminum casting market size, by process, 2017-2030 (US$M)
South Korea Aluminum Casting Market Outlook Share, 2022 & 2030 (US$M)
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