South Korea Aluminum Die Casting Market Size & Outlook
South Korea aluminum die casting market, 2017-2030 (US$M)
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South Korea aluminum die casting market highlights
- The South Korea aluminum die casting market generated a revenue of USD 2,164.8 million in 2022 and is expected to reach USD 3,441.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6% from 2023 to 2030.
- In terms of segment, pressure die casting was the largest revenue generating process in 2022.
- Pressure Die Casting is the most lucrative process segment registering the fastest growth during the forecast period.
Aluminum die casting market data book summary
| Market revenue in 2022 | USD 2,164.8 million |
| Market revenue in 2030 | USD 3,441.4 million |
| Growth rate | 6% (CAGR from 2022 to 2030) |
| Largest segment | Pressure die casting |
| Fastest growing segment | Pressure Die Casting |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pressure Die Casting |
| Key market players worldwide | Aluminum Corp of China Ltd Class H, Amsted Industries, Confluent Inc Class A, Georg Fischer AG, Martinrea International Inc, Madison Industries, Ryobi Ltd |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.0% of the global aluminum die 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 die 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 1,938.1 million by 2030.
Pressure die casting was the largest segment with a revenue share of 78.78% in 2022. Horizon Databook has segmented the South Korea aluminum die casting market based on pressure die casting covering the revenue growth of each sub-segment from 2017 to 2030.
South Korea is a lucrative market for aluminum die castings as the nation is expanding its manufacturing sector. Telecommunication is anticipated to register the fastest growth rate over the forecast period, owing to increasing investments in the industry.
Mobile operators in the country are boosting their infrastructure, which is further anticipated to benefit market growth. For instance, in July 2020, SK Telecom, KT, and LG Uplus decided to invest a sum of KRW 25.7 trillion (~USD 22 billion) by 2022 to accelerate 5G infrastructure across the country.
The country is witnessing investments in various other sectors such as semiconductors, biotechnology, batteries, and energy. For instance, in May 2021, the South Korean government announced plans to build a 6GW floating offshore wind farm by 2030.
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Aluminum Die Casting Market Scope
Aluminum Die Casting Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea aluminum die casting market size, by process, 2017-2030 (US$M)
South Korea Aluminum Die Casting Market Outlook Share, 2022 & 2030 (US$M)
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