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India’s Automotive Parts Aluminum Die Casting Market, 2019 to 2024 – Gravity Die Casting Expected to Witness the Fastest Growth – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “India’s
Automotive Parts Aluminum Die Casting Market, 2019 to 2024”

report has been added to ResearchAndMarkets.com’s
offering.

The Indian automotive parts aluminum die casting market was valued at
USD 1,691.17 million in 2018, and is expected to project a CAGR of 8.88%
during the forecast period, 2019-2024.

  • India has over 400 die casting companies, making it one of the major
    suppliers of die cast parts in the global market. Of these, over 25
    units produce around 12,000 ton of die cast parts per year. Aided by
    the 1.3 million ton of aluminum production, the Indian automotive
    market consumes over 0.28 million ton of die castings.
  • The die casting market is highly correlative to the automobile
    industry. India’s automobile industry is the fifth largest in the
    world and is expected to become the third largest by 2020. India has a
    low per capita car ownership of 20 vehicles per 1,000 citizens, as
    compared to 800 vehicles per 1,000 citizens in the United States and
    85 per 1,000 citizens in China. Thus, there exists a huge potential in
    the Indian automobile and ancillary industry.
  • Some of the major factors driving the growth of the market are growing
    demand for and sales of cars and commercial vehicles, and enactment of
    stringent emission and fuel economy norms. However, gradual shifting
    focus towards zinc die casting in cars and parts may hinder the growth
    of the market.

Key Market Trends

Latest Trend & Foreign Direct Investment (FDI) is Driving
the Market

The introduction of simulation-based castings is one of the key trends
that will drive the growth of the die casting market in the forthcoming
years. The simulation-based casting process is used to produce
components that are cost-effective, have high-precision, and are
reliable. This casting process involves various benefits, one of which
is that it ensures an easy and accurate fault detection.

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Simulation-based manufacturing results in reduced wastage and
operational costs. Additionally, they can also predict defects and their
location easily, and more precisely than the conventional method.

The Indian government introduced 100% FDI into the automotive and
automotive component sector. As a result, many foreign companies have
started establishing facilities in the country for manufacturing
vehicles for the local and global markets. For instance:

  • Kia Motors is investing approximately USD 1.1 billion in India and
    intends to set up a greenfield car plant to produce 3,000 units a year.
  • One of the biggest automotive manufacturers in the world, BMW is
    planning to manufacture a local version of below-500 CC motorcycle,
    the G310R, in TVS Motor’s Hosur plant in Tamil Nadu
  • One of the biggest Chinese automobile manufacturer, SAIC Motor, is
    planning to invest USD 1 billion by the end of 2018, as well as is
    exploring possibilities for setting up a manufacturing unit in one of
    the three states of Maharashtra, Andhra Pradesh, and Tamil Nadu

Furthermore, many multinational players are trying to invest in the
country due to the increasing demand for electric automotive in the
country. For instance:

  • Suzuki Motor is planning to manufacture electric cars at its factory
    in Gujarat
  • Ola Cabs is expected to introduce a fleet of one million electric cars
    in partnership with an electric vehicle maker and the Government of
    India. As many companies are entering the electric vehicle market, the
    die casting companies need to upgrade there technologies and processes
    to cater to the increasing demand

The Indian automotive market is transforming, and the rising automobile
production and the emergence of electric vehicles are expected to aid
the aluminum die casting market’s growth over the forecast period.

Gravity Die Casting Expected to Witness the Fastest Growth

The India gravity die casting segment registered a value of USD 236.26
million in 2018 and is projected to witness the CAGR of 10.74%, during
the forecast period.

Gravity Die casting is one of the oldest way of die casting. This die
casting process is used for producing accurately dimensioned, sharply
defined, smooth or textured-surface metal parts. The main advantage of
gravity die casting is it’s high speed of production. The reusable die
tooling allows for many hundreds of castings to be produced in a day.
High definition parts reduce machining costs and superior surface finish
reduces finishing costs.

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Indian auto industry is the fourth largest in the world owing to which
international and national auto manufacturers are expanding their
businesses in the country. For Instance:

  • In March 2018, Endurance Group received the letter of intent for
    supply of aluminum high pressure and gravity die casting parts for
    Hero MotoCorp’s requirement for their Halol plant.
  • Spark Minda, Ashok Minda inaugurated its third Die Casting plant at
    Pune, which will be producing Gravity Die Casting & Low-Pressure Die
    Casting with machining for two and four-wheeler products.
  • Mahindra CIE has also entered in the gravity die casting processes

As the established players are entering into the market and existing
companies are expanding their business, these factors are likely to
drive the gravity die casting market in the country over the forecast
period.

Competitive Landscape

The Indian die casting industry is now matured and has started catering
to both domestic and international customers. The availability of
skilled labor and usage of advanced machinery and technology are key
factors for this growth.

Sandhar Group, Rockman Industries, Spark Minda Group, Endurance
Technologies Limited, Rico Auto Industries, Dynacast (Form
Technologies), Rheinmetall Automotive AG and Nemak are the major players
in the Indian automotive parts Aluminum die casting market.

The Indian Automotive Parts Aluminum Die Casting industry is fairly
fragmented with major players such as Rockman Industries, Sandhar Group,
Rico Auto Industries, Spark Minda, Rheinmetall and Nemak accounting to
over 56% of the market.

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Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

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2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

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4.3 Market Restraints

4.4 Industry Attractiveness – Porter’s Five Force Analysis

5 MARKET SEGMENTATION

5.1 Production Process

5.1.1 Pressure Die Casting

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5.1.2 Vacuum Die Casting

5.1.3 Squeeze Die Casting

5.1.4 Gravity Die Casting

5.2 Application Type

5.2.1 Body Parts

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5.2.2 Engine Parts

5.2.3 Transmission Parts

5.2.4 Other Applications

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

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6.2 Mergers & Acquisitions

6.3 Company Profiles

6.3.1 Sandhar Group

6.3.2 Rockman Industries

6.3.3 Sipra Quality Die Casting

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6.3.4 Spark Minda Group

6.3.5 Endurance Technologies Limited

6.3.6 Samvardhana Motherson Auto Component Pvt. Ltd.

6.3.7 Rico Auto Industries

6.3.8 Dynacast – Form Technologies

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6.3.9 Rheinmetall Automotive AG

6.3.10 Nemak

6.3.11 Jaya Hind Industries Ltd.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/pyzv1o

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For
E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call
1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related
Topics: Aluminum,
Automotive
Parts
, Automotive
Materials


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Cannabis

Rodedawg (OTC: RWGI) Launches TikTok Shop to Expand into Global E-Commerce Market

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Billion

Industrial Hemp Market Soars from $6.6 Billion to $25.7 Billion by 2034, Fueled by Sustainable Innovation

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industrial-hemp-market-soars-from-$66-billion-to-$25.7-billion-by-2034,-fueled-by-sustainable-innovation

Industrial Hemp Playing Key Role in Carbon Sequestration and Soil Remediation Aligning with Sustainable Farming Practices

ROCKVILLE, Md., June 12, 2024 /PRNewswire/ — Based on a new research report by Fact.MR, worldwide sales of Industrial Hemp Market are estimated to reach US$ 6.6 billion in 2024. By 2034, this market is anticipated to skyrocket to a staggering US$ 25.7 billion, driven by a steady CAGR of 14.5% from 2024 onward.

Demand for industrial hemp is skyrocketing as more and more industries recognize its versatile and sustainable properties. Once overlooked, this remarkable crop is now being embraced for its myriad uses across various sectors. From textiles and construction materials to biofuels and nutritional supplements, hemp’s applications are seemingly endless.

Environmentally conscious consumers are driving much of this demand, as hemp requires minimal pesticides and herbicides, making it an eco-friendly choice for sustainable farming. Its ability to sequester carbon dioxide and remediate contaminated soil further adds to its appeal. Moreover, hemp’s durability, lightweight nature, and renewable qualities make it an attractive alternative to traditional materials in manufacturing.

Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=3989

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As awareness of hemp’s benefits continues to spread, industries are investing in research and development to unlock its full potential. With its multi-faceted applications and sustainable credentials, industrial hemp is poised to become a cornerstone of the green economy, meeting the growing demand for environmentally responsible products and practices.

Key Takeaways from the Market Study:

  • Based on nature, sales of organic hemp are estimated to reach a valuation of $3.2 billion in 2024.
  • The market in Mexico is evaluated to expand at a CAGR of 13.6% from 2024 to 2034.
  • Revenue from sales of industrial hemp in East Asia is projected to reach $5.9 billion by the end of 2034.
  • The South Korean market is evaluated to reach a valuation of $1.4 billion by the end of 2034.
  • North America is analyzed to hold a global market share of 24.3% by 2034.

“Use of industrial hemp in textiles, medicines, and food, coupled with global sustainability trends, is creating opportunities for suppliers. Governments worldwide are collaborating to boost global hemp distribution,” says a Fact.MR analyst.

Increasing Awareness of Therapeutic Potential of Hemp in Medical Applications

Once relegated to the fringes, industrial hemp is rapidly emerging as a sustainable wonder crop, fueling a wave of cutting-edge innovations across diverse industries. As researchers and entrepreneurs unlock its vast potential, hemp is proving to be a versatile and eco-friendly resource, paving the way for exciting new products and applications.

The automotive industry is also exploring the use of hemp fibers as a reinforcement material for lighter, stronger, and more sustainable car parts. These natural fiber composites could reduce vehicle weight, improving fuel efficiency and reducing emissions.

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In the field of biotechnology, scientists are harnessing the unique properties of hemp to develop innovative products. For instance, researchers are exploring the use of hemp-derived compounds, such as cannabidiol (CBD), for their potential therapeutic applications in various medical conditions.

Japan’s Industrial Hemp Market Poised for Rapid Growth

The industrial hemp market in Japan is projected to grow at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2034, with the country expected to hold a 29.4% market share by the end of the period.

Increased investment in research is crucial for unlocking the full potential of industrial hemp. Research efforts may focus on improving hemp genetics for higher yield and quality, optimizing cultivation practices, and exploring innovative applications such as advanced nanomaterials or pharmaceuticals. This investment fosters innovation and establishes a foundation for the hemp industry’s long-term growth and competitiveness in an ever-evolving market.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=3989

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Expanding Opportunities in the United States Industrial Hemp Market

The industrial hemp market in the United States offers abundant opportunities for stakeholders to broaden their product portfolios. Beyond traditional uses like textiles and oils, there is significant potential for hemp-based products to evolve into biodegradable polymers, eco-friendly packaging, and even biofuels. This diversification, a prominent trend in the industrial hemp market, not only targets emerging markets but also positions hemp as a versatile and sustainable resource with applications across various industries.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the industrial hemp market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on nature (organic, conventional), product type (fiber, seeds), and end use (food & beverages, consumer textiles, personal products, industrial applications, hemp CBD, supplements, other consumer products), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

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Check out More Related Studies Published by Fact.MR Research:

Hemp-Based Products Market is expected to reach $1.8 billion in 2023 and jump to a size of $16.2 billion by 2033.

Cannabis Infused Drinks Market is predicted to race ahead and end up at US$ 8.7 billion by 2032.

Ready-to-use Therapeutic Food Market to surge from $459.9M in 2024 to $800.6M by 2034, driven by 5.7% CAGR, marking substantial growth.

Specialty Fat and Oil Market will hit $85.94 billion by 2034 with a 4.6% Annual Growth Rate.

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Baking Ingredient Market is set to reach $41.48 billion by 2034, Driven by 6.5% Annual Growth Rate.

Infant Milk Formula Market: From Growth Spurts to Baby Boom – Projected Surge to $22.35 Billion by 2034.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. 

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Innocan

Innocan Pharma Announces Successful Preliminary Safety Evaluation of LPT-CBD in Minipigs

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HERZLIYA, Israel and CALGARY, AB, June 11, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce the success and conclusion of a preliminary safety evaluation of Innocan’s single injection and sustained-release LPT-CBD conducted on minipigs. The animals demonstrated excellent drug tolerance and did not exhibit any drug-related adverse events.

 

 

Recognized by the FDA as an excellent model for toxicology, small breeds of miniature domestic pigs known as minipigs share strong similarities with humans in crucial aspects such as drug metabolism, skin structure, genetics, and physiological mechanisms. In this preliminary safety study, minipigs received a single subcutaneous injection of LPT-CBD and were closely monitored for pharmacokinetics and basic safety parameters over one month. Encouragingly, the animals all exhibited good drug tolerance and did not manifest any drug-related adverse reactions.

“We are thrilled with these findings, which further underpin the safety profile of LPT-CBD following a single injection,” commented Dr. Eyal Kalo, the R&D Director of Innocan Pharma. “With each new data point collected for LPT-CBD, we make significant strides in our quest to revolutionize patient care through sustained-release therapy. Our efforts to continuously gather data to fully characterize LPT-CBD are paramount in our journey towards its ultimate approval.”

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Professor Chezy Barenholz the CSO of Innocan Pharma added, “These results are immensely gratifying and hold significant promise as they highlight the characteristics of LPT-CBD in a physiological setting similar to humans.”

The study involved administering three ascending doses of LPT-CBD via subcutaneous injection in minipigs, followed by comprehensive monitoring of pharmacokinetics and safety parameters for 28 days. Throughout the study, the minipigs demonstrated excellent drug tolerance, as evidenced by blood clinical parameters whithin normal range, healthy appetite, and normal behavior. These findings are consistent with prior safety evaluations conducted with LPT-CBD on diverse animal models including goats and dogs, affirming the drug’s favorable tolerability profile following both single and repeated use.

Grant of Restricted Share Units                                                                                                 

The Company has granted an aggregate of 290,000 restricted share units (each, an “RSU“) to consultants. Each RSU entitles the recipient to receive one common share of the Company (a “Common Share“) on vesting. A total of 150,000 RSUs vest on May 30, 2024, and 140,000 RSUs vest on September 30, 2024. The RSUs and the underlying Common Shares are subject to a statutory hold period of four months and one day expiring on October 1, 2024.

Innocan also announces that it granted 2,380,000 stock options to employees and consultants to the Company. These options have a strike price of $0.28, with various vesting periods up to 12 months. All options expire on May 30, 2029.

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About Innocan Pharma:

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

Contact Information:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected] 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Caution Regarding Forward-Looking Information

Certain information set forth in this news release, including, without limitation, the Company’s plans for human trials of its LPT-CBD platform, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import/export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner). The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. A comprehensive discussion of other risks that impact Innocan can be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

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