The growing automobile industry, India and China emerging as cost-effective die casting manufacturing hubs, demand from the industrial sector, and increased scope of application in windmills and telecommunications are expected to drive the die casting market at a faster pace in the Asia Pacific region.
With the growth in automotive lighting and energy-saving trends, expanding the industrial and manufacturing sector, the die casting market grew substantially in the Asia-Pacific region. Cheaper labor and low manufacturing costs in India and China further propelled the market growth in these countries. During the past two decades, small privately run factories in this region have become much competitive and professional in producing die-cast components. However, the market in Asia-Pacific for automobile and related products was subjected to imperfect competition, which resulted in too much of everything-too much capacity, too many competitors and too much redundancy and overlap.
Thailand is emerging as a major automobile exporting country, driven by Japanese FDI. Chinese manufacture sector is growing very fast and is poised to make its dent in the international trade arena. India is consolidating its position with strong domestic and external demand for high-quality die-cast components at lower prices. All these factors together are driving the market for die casting parts market in the Asia-Pacific region. More about:Custom OEM Manufacturer Valve Parts Precision Investment Casting