Market Trends of Latin America Automotive Parts Zinc Die Casting Industry
This section covers the major market trends shaping the Latin America Automotive Parts Zinc Die Casting Market according to our research experts:
Rising Demand for Vacuum Die Casting and Enactment of Stringent Emission Regulations
Globally, countries have formulated stringent emission norms to cater to the cause of reducing global warming. Efforts are being made by governments worldwide, to minimize the negative effects of global warming and reduce the carbon footprint. Latin America is one of the major exporters to Europe and North America
The European Union introduced the Euro VI norms in 2014, according to which, nitrogen oxide emissions must be below 0.4g/KWh and particulate emissions must be below 0.01g/KWh. Japan is in the process of introducing new emission norms that are based on the Euro VI norms.
A number of countries are implementing emission standards, OEMs worldwide are expected to explore new technologies that help in reducing emission in automobiles. The freight companies and fleet owners are extensively moving toward technologies, which are expected to reduce the average emission rate.
Earlier, pressure die casting was the majorly employed production process. However, the vacuum die casting process has been gaining popularity over the past couple of years, due to its better welding characteristics, higher mechanical strength, and lower gas porosity.
Mexico - Leading the Market Growth
The Latin America automotive parts zinc die casting market is dominated by Mexio. With the growth in vehicle light-weight and broader energy-saving trends, as well as the expanding industrial and manufacturing sectors, the automotive parts zinc die casting market has grown substantially in the Latin America region. Mexico is consolidating its position, with strong domestic and external demand for high-quality zinc die-cast components at lower prices. The aforementioned factors are driving the market for automotive parts zinc die casting in the Latin America region
The European automotive industry is technically the most advanced and innovative industry, globally. Due to the economic crisis and political pressures, the reduction of fuel consumption and CO2 emission has become a major agenda for automobile manufacturers in the region. This has been achieved through a reduction in the weight of the automobile, as well as better design and constructions, which seems to be the most favorable solution at present. Non-ferrous castings in Europe registered an average performance of 20 metric ton per employee, with a range of up to 58 metric ton. Moreover, over 80% of the castings produced in Europe are delivered within the European region.
