China non-ferrous metal casting market forecast to increase by 8.58% CAGR during 2013 to 2018
Non-ferrous Metal Casting Market in China 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 07:49:04
The steady shift from ferrous metal casting to non-ferrous metal casting is one of the major trends being witnessed in the Non-ferrous Metal Casting market in China. Several organizations across various industries including Automotive, Electrical and Electronics, Construction, and Engineering Machinery have started developing lightweight products in order to improve the quality and reduce the overall weight of their products. For instance, several auto components which are traditionally manufactured using ferrous metal casting materials are being steadily replaced by non-ferrous metal casting materials such as aluminum, zinc, and magnesium. Further, several automotive manufacturers are steadily moving from the deployment of cast iron engine blocks to the deployment of aluminum engine blocks. This is because aluminum-cast engine blocks are sturdier than cast iron die casting products under high horsepower.
One of the major drivers is the increasing adoption of aluminum casting in the Automotive and Construction industries. Several vehicle and machine components such as cylinder heads, transmission housings, crank cases, engine blocks, bearings, suspension and bodywork parts, and wheels are manufactured using aluminum casting.
Further, a major challenge in the market is the lack of effective product differentiation. The market has the presence of several local and international vendors; however, they offer almost identical products and therefore need to develop an edge over their competitors.
The key players operating in the non-ferrous metal casting market in China include Aloca Inc., Beijing Jingtian Precision Investment Casting Co. Ltd., and Precision Castparts Corp.
The non-ferrous metal casting market in China is forecast to grow at a CAGR of 8.58 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing adoption of aluminum casting in the Automotive and Construction industry. The Non-ferrous Metal Casting market in China has also been witnessing the steady shift from ferrous casting to non-ferrous casting. However, the lack of effective product differentiation could pose a challenge to the growth of this market.
Other vendors operating in the market are Cypress Industries, Hebei Yuanda Trade Co., Ltd., and P&A International.
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