NEW YORK, May 14, 2021 /PRNewswire/ The global aluminum casting market by process (die casting, permanent mold casting, and others), application (automotive, heavy machinery and industrial, aerospace and defense, construction, and others), and geography (APAC, Europe, North America, MEA, and South America) has been added to Technavio s offering. The global aluminum casting market is expected to grow by 5,944.80 thousand MT, at a CAGR of over 6% during 2021-2025.
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The imposition of lockdowns and other restrictions by governments worldwide in 2020 severely impacted the growth of several industries such as automotive and defense. Also, most aluminum cast manufacturers were compelled to temporarily halt their production activities, which created disruptions in the supply chain. However, the resumption of manufacturing activities in Q4 2020 and the removal of lockdowns and restrictions are likely to enhance the market growth in 2021.
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The industrial casting market in the US is poised to grow by $ 3.87 bn during 2021-2025, progressing at a CAGR of over 5% during the forecast period.
The market is driven by the growing demand from the automotive industry and increased demand for iron casting from the renewable energy sector.
The report on industrial casting market in the US provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current us market scenario, latest trends and drivers, and the overall market environment. The industrial casting market in US analysis includes product segment and end-user segment.
The Industrial Casting Market is expected to grow by $ 3 87 bn during 2021-2025, progressing at a CAGR of over 5% during the forecast period padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.