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Metal Casting Industry Revenue and Value Chain 2020-2027
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Market Research Future (MRFR) believes that the metal casting market can procure a decent CAGR of 7.55% between 2022 and 2030
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Metal Casting Industry

Market Scope

Market Research Future (MRFR) believes that the metal casting market can procure a decent CAGR of 7.55% between 2022 and 2030. Moreover, the market size will reach USD 352.65 Billion by 2030-end.

Significant Drivers and Key Restraints

Building and construction sector has emerged as one of the top end-users for a variety of casting products. Surging focus on infrastructure upgradations and considerable spending with regard to the same has been favorable for the construction sector worldwide. Government bodies across different nations invest in numerous infrastructure projects such as water supply, transportation, energy networks and telecommunications, which has fostered the demand for metal casting. Metal casting is witnessing robust demand on account of its lightweight characteristics as well as aesthetic appeal, with the highest preference for aluminum casting noted within the construction industry. Finished products are significantly deployed in construction machinery and equipment, curtain walling, heavy vehicles, windows, roofing, and door handles.

The metal casting industry also stands to profit from the accelerated demand for different metals such as aluminum and magnesium in prominent end-use industries like aerospace defense and consumer goods. Aluminum is increasingly being used in the automotive sector in line with the heightened need for lightweight and fuel-efficient vehicles that help reduce carbon emissions.  As a result, the metal casting industry is bound to experience strong growth over the following years.

Segmental Analysis 

The metal casting industry can be categorized with respect to material type, process, and end-use industry.

In terms of material type, the key segments are Aluminum, cast Iron, Zinc, Magnesium and Stainless Steel. The cast iron segment, with the highest share of more than 60% in 2018, has taken the lead and will project a growth rate of 6.70% between 2022 and 2030.

The processes mentioned in the report include vacuum casting, die casting, sand casting, gravity casting, shell mold casting, and others. Sand casting happens to the most extensively utilized metal casting process since it involves lower cost and facilitates production of a variety of automobile components including impellers, engine blocks, support beams, manifolds, machine tool bases, cylinder heads, valves, and pump housings.

Depending on end-use industry, the major segments can be consumer goods, building construction, automotive transportation, equipment machine, mining, and others. The biggest share in the global market is occupied by the automotive transportation segment.

Regional Outlook

Metal casting industry has been geographically categorized as Asia Pacific or APAC, Europe, the Americas, MEA or the Middle East and Africa.

As of 201, the Asia Pacific market is in the lead and the region has continued to maintain its lead ever since. In 201, the APAC market captured the highest share of 58.68% and had touched around a whopping USD 134.35 billion. Not only this, but the regional market should also procure the highest CAGR of 8.33% in the years to come, on account of the rapidly expanding automotive industry across India, Indonesia, China, and Thailand. But the highest gainer in the region has been China since the country is one of the top producers of automobiles in the world. Largest production is witnessed for luxury automobiles and electric vehicles in the country. The growing population coupled with the increasing income levels of the mass will bolster the demand for metal casting machines across multiple end-use sectors such as construction, automotive, and many more.

Europe is the second market leader, as environmental standards as well as emission targets implemented by regulatory authorities like the European Union (EU) to restrain carbon emissions have led to manufacturing of lightweight vehicles. This factor boosts the need for aluminum cast components among automakers to mark their adherence to these strict guidelines. Also, heightened demand for finished items in France and Germany will also give a substantial push to the metal casting industry in the years ahead.

The US Department of Energy encourages using lightweight casting materials like aluminum and magnesium alloy that help lower down the vehicle’s weight up to 40%. As a result, to cater to the strict fuel efficiency and emission targets laid down by the US Environmental Protection Agency, the automotive industry is increasingly opting for lightweight materials such as Zn, Mg, Al, others. Moreover, escalating vehicle production, combined with the amplified demand for premium segment automobiles as well as the lack of alternative production processes, will also enhance the market size. OEMs in the region are constantly focused on producing electric as well as hybrid vehicles that extensively use lightweight materials and can contribute majorly to the growth of the metal casting industry in the region.

Top Vendors

Reliance Foundry Co. Ltd (Canada), Georg Fischer Ltd (Switzerland), Dynacast (US), Precision Castparts Corp (US), Endurance Technologies Limited (India), Ryobi Limited (Japan), Alcast Technologies (Canada), Ahresty Wilmington Corporation (US), FORCEBEYOND (US), GIBBS (US), are some of the top vendors in the global market for metal casting.

Latest News

February 2021

Allison Transmission, after acquiring Walker Die Casting, has now invested substantially in the latter, in order to facilitate infrastructure developments, more capabilities as well as extensive range of solutions with the addition of close to 800,000 ft2 of production space. These capacity expansions will also include seven more machining centers with a 1,600-ton die cast machine, 1,800-ton die cast machine as well as complete turnkey automation.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future®

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New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US) 

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

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