NEW
YORK, May 20, 2024 /PRNewswire/ -- The
global metal casting market size is estimated to grow
by USD 12.15 bn from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 6.22% during the forecast period.
For more insights on the forecast market size and
historic data (2018 - 2022) - Download
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Automotive,
Industrial machinery, Aerospace and defense, and Others), Material
(Aluminum, Cast iron, Magnesium, Zinc, and Others), and Geography
(APAC, Europe, North America, South America, and Middle East and
Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
Acast, Alcast Co.,
Alcoa Corp., Benton Foundry Inc., Berkshire Hathaway Inc., Buhler
AG, Dawang Steel Castings Co. Ltd., Decatur Foundry Inc., Endurance
Technologies Ltd., Form Technologies, Hitachi Ltd., Kurt
Manufacturing, Lestercast Ltd., OSCO Industries Inc., Reliance
Foundry Co. Ltd, Ryobi Ltd., Shibaura Machine Co. Ltd., Stahl
Specialty Co., T.H.T. Presses Inc., and Texmo Precision
Castings
|
Key Market Trends Fueling Growth
The metal casting market experiences significant growth due to
advancements in X-ray technology, specifically automatic or
assisted defect recognition systems. These systems, which use
digital radiography technology, contribute to waste minimization,
production of lightweight yet strong parts, and cost-effectiveness.
Applications span various industries, including automotive, where
the demand for recyclable materials and lightweight vehicles drives
aluminum casting. Key materials, such as carbon, silicon,
manganese, phosphorus, and sulphur, are melted and shaped into
components like machines' pipes, gearbox cases, cylinder heads, and
engine oil pans. Casting processes, including Die Casting, Shell
Mold Casting, Gravity Casting, Vacuum Casting, sand casting, and
blowers, benefit from these advancements. Additionally,
wear-resistant parts like bearings, cams, gears, valves, screw
nuts, wire rod, electrical sheets, and stainless steel are
produced, adhering to regulations in various industries.
Regional Analysis
- In the geographic landscape of the APAC region, the metal
casting market maintains its prominence as a global manufacturing
hub, particularly in sectors such as oil & gas, aerospace,
railroad, healthcare, mining, and automotive. The use of advanced
technologies, including die metal casting and 3D printing, is
transforming the industry. Traditional casting methods like sand
mold and die casting continue to dominate, with regulations
ensuring the use of recyclable materials and lightweight vehicles.
Aluminum casting, utilizing cut-out moulds and 3D metal shaping, is
gaining popularity due to its lightweight, strong parts, and
cost-effectiveness. Cast iron and grey iron metal remain essential
in various applications, with wear resistance and melting point
being crucial factors. Key materials like carbon, silicon,
manganese, phosphorus, and sulphur are integral to the casting
process. Flexible designing, rapid prototyping, and waste
minimization are essential for maintaining competitiveness. Metal
casting suppliers cater to diverse industries, producing components
for lamp poles, bus pedals, train wheels, vehicle parts, machines,
pipes, gearbox cases, and cylinder heads.
Research report provides comprehensive data on
Market Segmentation analysis - Buy Report
Segment Overview
This metal casting market report extensively covers market
segmentation by
- End-user
- 1.1 Automotive
- 1.2 Industrial machinery
- 1.3 Aerospace and defense
- 1.4 Others
- Material
- 2.1 Aluminum
- 2.2 Cast iron
- 2.3 Magnesium
- 2.4 Zinc
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Automotive- The global metal casting market
experiences significant growth in the automotive sector, driven by
the production of lightweight, maneuverable, and cost-effective
components. Die casting, including Zinc and Aluminum die casting,
is a prominent method used in automotive manufacturing. Other
casting techniques, such as Shell Mold Casting, Gravity Casting,
Vacuum Casting, and Sand Casting, are also employed in the
production of various automotive parts, including blowers,
bearings, cams, engine oil pans, gears, valves, screw nuts, and
wire rods. Recyclable materials, like aluminum and cast iron (Grey
iron metal), are utilized in the casting process to meet the
increasing demand for sustainable and lightweight vehicle
components. Regulations governing the use of specific metals and
alloys in automotive manufacturing, such as stainless steel,
further expand the market scope. Die casting, 3D metal shaping, and
even 3D printing, are employed in the production of complex
components like lamp poles, bus pedals, train wheels, and various
vehicle parts. The metal casting industry caters to diverse
sectors, including oil & gas, aerospace, railroad, healthcare,
mining, and more, with die metal casting and flexible designing
enabling rapid prototyping and innovation. Silicone and both metal
and plastic materials are also used in casting processes to cater
to the evolving needs of various industries.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Metal Casting Market encompasses various processes,
including die-casting and sand molding, for producing lightweight
vehicles' components using recyclable materials such as aluminum
and grey iron metal. Regulations mandate the use of cut-out moulds
for 3D metal shape fabrication, ensuring flexible designing and
waste minimization. Aluminum casting, a key process, offers strong
parts with cost-effectiveness. Silicone and metal are commonly used
in sand casting for lamp poles manufacturing. Rapid prototyping
through 3D printing enhances innovation, while the use of plastic
and sand in metal casting processes contributes to the industry's
growth. Overall, the Metal Casting Market focuses on producing
lightweight, strong parts with cost-effectiveness and adherence to
regulations.
Market Research Overview
The Metal Casting Market encompasses the production of various
metals through the process of casting. This involves pouring molten
metal into a mold, which is then allowed to solidify and form the
desired shape. The Metal Casting Market is driven by the demand for
metals in various industries, including automotive, construction,
and engineering. The process of metal casting is versatile,
allowing for the production of complex shapes and large quantities.
The use of advanced technologies, such as investment casting and
sand casting, enhances the efficiency and precision of metal
casting. The market for metal casting is expected to grow due to
the increasing demand for metals in various sectors and the
continuous advancements in casting technologies. The Metal Casting
Market offers significant opportunities for growth and
innovation.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Automotive
- Industrial Machinery
- Aerospace And Defense
- Others
- Material
-
- Aluminum
- Cast Iron
- Magnesium
- Zinc
- Others
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio