Europe Aluminum Casting Market Outlook

europe is currently a major player in the aluminum casting market, and growth for the regional market is expected to be strong in the next decade. in 2018, the market is estimated to value almost 10.5 billion euros and expand at a compound annual growth rate (cagr) of 6.2% through 2032. astonishing advancements in product design capabilities combined with efficient casting techniques are driving the market for aluminum casting in europe. aluminum castings offer superior strength, reliable weight, and attractive aesthetics that appeal to most industries, making them the preferred choice for many applications. the rising vehicle demand, especially in the automotive and aviation sectors, and increased disposable income has boosted the demand for these components. aluminum castings are being extensively used as raw materials in the engine and other related parts, chassis, body parts, and other parts as well. this has driven the demand in recent years and is expected to keep increasing over the forecast period. the rising mechanical industry, especially in the europe, is also driving growth. aluminum castings are used in several applications such as fittings, enclosures, pipes, and heat exchangers in almost all branch of mechanical engineering. the textile and industrial machinery sector is also using aluminum castings at a large scale, driving the market. in addition, expanded foreign direct investment in europe and modernization of equipment is driving the growth of aluminum casting market in this region. in europe, numerous companies are focusing on new-product launches and adopting innovative strategies to make their metal castings more sophisticated. this will continue to fuel the demand for aluminum casting in the coming decade. major trends such as an increased usage of die-casting, growth of machining technologies, and focus on creating lightweight components are further making a positive impact in the market. looking ahead, the demand for aluminum casting is expected to develop further in europe, driven by enhanced production methods and the introduction of advanced technologies. in addition, increased expenditure on research and development, environmental regulations, and increasing product modernization emboldens market growth in europe.