Global Die Casting Market Size will Reach $72114.23 Million in 2023

Global Die Casting Market Overview

According to Global Market Monitor, the global die casting market size will reach $72114.23 million in 2023 with a CAGR of 3.48% from 2023 to 2038. The automotive industry is the largest downstream application in the casting industry, and its development has a great impact on the casting industry.

The Die Casting is the Foundation of Manufacturing.

The foundry industry is an important and indispensable basic of the equipment manufacturing industry. Castings are mainly used as blank parts of the machine, and some precision castings can also be directly used as parts of the machine. The upstream industries of die casting are steel, coke, and other industries, and the downstream applications are relatively extensive, including energy plates such as wind water nuclear power, general machinery plates such as injection molding machines, and marine engineering plates such as rail transit.Die casting has become a preferred option for the machinery industry. Through innovation in products and technology, the usability of the die-casting industry is increasing, which is further limiting the metal wastage and rejection rate.

China Die Casting Market Status

With the launch of the “Made in China 2025” strategy, the manufacturing industry in the country is stepping into a new period of development, and the Foundry Institution of Chinese Mechanical Engineering Society (FICMES) is convinced that the die casting sector is fully participating in this “crucial period of transformation and upgrading”. The “Made in China 2025” programmer defines ten priority industries such as energy saving, new energy vehicles (NEVs), aerospace and railway equipment as well as numerical control machine tools and robotics. All these ten key industries need workpieces made by die casting.

China Casting Association data showed that driven by the downstream industry, China\'s total casting production reached 54.05 million tons in 2021 with an increase of 4.04%, maintaining a growth trend. In 2022, due to the increasing downward pressure on the national economy, casting production declined to a certain extent, and the total output was 51.7 million tons. Casting products are widely used in automobiles, internal combustion engines, mining and metallurgy, construction machinery, and other manufacturing industries as the core parts. According to the data of the China Foundry Association, by application, the automotive field has been the largest downstream application field of China\'s casting industry, accounting for around 30% up and down with a market share of 28.53% in 2022, followed by cast pipe and pipe fittings and mining machinery, accounting for market shares of 16.05% and 10.06%.

Die Casting Production in China
Production in 2021	54.05million tons
Production in 2022	51.7 million tons
China Die CastingIndustry Application Structure in 2022
Automotive	28.53%
Cast Pipe and Fittings	16.05%
Internal Combustion Engines and Agricultural Machinery	9.96%
Construction Machinery	9.28%
Mining Heavy Machine	10.06%
Machine Tool	4.74%
Power Generation Equipment and Electricity	4.16%
Rail Traffic	4.06%
Boats	0.68%
Others	12.48%