Market Size of South Korea Automotive Parts Aluminium Die Casting Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 13.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Automotive Parts Aluminium Die Casting Market Analysis
The South Korea automotive parts aluminium die casting market is expected to register a CAGR of over 13% during the forecasted period (2020 - 2025)
- To meet the emissions regulations and policies OEMs are trying to reduce weight of automobiles by employing lightweight non-ferrous metals. Using aluminium die casting parts has been adapted as the main strategy.
- With the increasing pollution levels around the world, carmakers are looking for lightweight components for reducing fuel consumption and curbing the emission of harmful pollutants into the atmosphere. Aluminium provides weight saving up to 50% compared to the traditional mild steel structure. Aluminium has equal or more superior strength and absorbs twice crash-induced energy. Lowering the vehicle weight will allow downsizing engine, transmission, suspension, and wheels. South Korea has highest per capita consumption of aluminium of 46,7 Kg higher than most of the developed countries because of the growing automotive industry in the country.
- The corrosive property of aluminium ensures optimum life for housings even when exposed to bad weather. In recent times autonomous cars have become increasingly popular. These cars have electromagnetic and electrical components which must be protected, and aluminium die casted housing is promising to provide protection against the external environment. Aluminium is a sustainable and resource-efficient material. It can be recycled; the world average remains 45% (as of May 2020). Aluminium pressure parts are later used in recycling process to form aluminium alloys which have very large applications.
South Korea Automotive Parts Aluminium Die Casting Industry Segmentation
The South Korea Automotive Parts Aluminium Die Casting Market report covers a detailed study on the latest trends and innovations in the market which is segmented by Production Process type (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting and Semi-Solid Die Casting) and Application Type (Body Assembly, Engine Parts, Transmission Parts and Others).
| By Production Process Type | |
| Pressure Die Casting | |
| Vacuum Die Casting | |
| Squeeze Die Casting | |
| Semi-Solid Die Casting |
| By Application Type | |
| Body Assembly | |
| Engine Parts | |
| Transmission Parts | |
| Others |
South Korea Automotive Parts Aluminium Die Casting Market Size Summary
The South Korea automotive parts aluminium die casting market is poised for significant growth, driven by the increasing demand for lightweight materials in the automotive industry. As original equipment manufacturers (OEMs) strive to meet stringent emissions regulations, the adoption of aluminium die casting has become a key strategy due to its ability to reduce vehicle weight without compromising strength. This shift is particularly relevant as aluminium offers substantial weight savings compared to traditional materials like mild steel, while also providing enhanced durability and crash energy absorption. The South Korean automotive sector, with its high per capita aluminium consumption, is leveraging these advantages to produce more efficient vehicles. The country's robust aluminium production and its position as a leading exporter of aluminium die casting parts, particularly to China, further underscore the market's growth potential.
The pressure die casting process is gaining traction in South Korea due to its cost-effectiveness, high accuracy, and ability to produce large volumes of components. This has encouraged significant investments from industry players aiming to expand their operations to meet domestic and international demand. Despite challenges such as the global economic downturn and competition from emerging composite materials, the aluminium die casting market is expected to experience steady growth. The market landscape is characterized by a mix of major players, including Dynacast and Amtek Group, who are actively pursuing global expansion strategies. As technological advancements continue to shape the automotive industry, the demand for aluminium die casting materials is anticipated to rise, driven by the need to reduce vehicle weight and comply with evolving environmental standards.
South Korea Automotive Parts Aluminium Die Casting Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Production Process Type
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2.1.1 Pressure Die Casting
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2.1.2 Vacuum Die Casting
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2.1.3 Squeeze Die Casting
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2.1.4 Semi-Solid Die Casting
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2.2 By Application Type
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2.2.1 Body Assembly
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2.2.2 Engine Parts
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2.2.3 Transmission Parts
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2.2.4 Others
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South Korea Automotive Parts Aluminium Die Casting Market Size FAQs
What is the current South Korea Automotive Parts Aluminium Die Casting Market size?
The South Korea Automotive Parts Aluminium Die Casting Market is projected to register a CAGR of greater than 13% during the forecast period (2024-2029)
Who are the key players in South Korea Automotive Parts Aluminium Die Casting Market?
Dynacast Inc., AMTEK GROUP, Pace Industries, Samkee Automotive and Kemlows Die Casting Products Ltd. are the major companies operating in the South Korea Automotive Parts Aluminium Die Casting Market.
