Aluminum Die Casting Mold Release Agents Market - Regional Analysis
North American Market Insights
North America industry is anticipated to hold largest revenue share of 35% by 2035. The market growth in the region is also expected on account of the increasing adoption of automation and intelligent manufacturing techniques.
The aim of these techniques is to create safer, effective, and harmless products. There are various sectors such as aerospace, automotive, and electronics that require highly accurate die castings due to which advanced manufacturing technologies are introduced in the region. The research and development sector focusing on technological advancements in the country is impacting the demand for aluminum die casting mold release agents that are compatible with these advanced systems.
The aluminum die casting mold release agents industry is growing significantly in the United States due to the growing rate of production and demand for aluminum-related products in different sectors. According to the Aluminum Association, the demand for aluminum in the United States and Canada (shipments by domestic producers along with imports) increased by 4.8% resulted in around USD 27.5 billion in 2022.
In Canada, various automotive manufacturers are using aluminum components and replacing steel components, which is leading to a higher demand for aluminum die casting mold release agents.
APAC Market Insights
The Asia Pacific region will also encounter huge growth for the aluminum die casting mold release agents market by 2035 and will hold the second position owing to population growth and urbanization. According to the United Nations Population Fund, 60% of the world’s population, or around 4.3 billion people live in the Asia Pacific region. Additionally, growing demand for smart cities, various industrial regulations, and global demand for die casting products are driving the growth of the APAC market.
The increasing demand for residential and commercial buildings in China along with the automobile sector is responsible for the market growth of aluminum die casting mold release agents. According to the latest report, the annual construction of commercial properties in China come to around 81.55 million square meters in 2022.
Growing demand for aluminum die casting agents in various sectors such as electronics, and increased production and sales of automotive vehicles in Korea are the reasons behind the development of the market. As per a recent report, there were 438 export and import shipments of die casting aluminum in South Korea, which are exported by 73 exporters to 85 buyers.
