Metal Casting Market to reach USD 141.64 Bn at a CAGR of 18.9 percent by 2030 – Says Maximize Market Research
Maximize Market Research, a leading Mining and Metal business consultancy and research firm has published a report on the “Metal Casting Market”. The total market opportunity for Metal Casting Market was USD 42.16 Bn in 2023 and is expected to grow at a CAGR of 18.9 percent through the forecast period, reaching USD 141.64 Bn by 2030. As per the Maximize Market Research report, the global Metal Casting Market is expected to be dominated by the Asia-Pacific region to grow at a significant growth rate over the forecast period.
Metal Casting Market Scope and Research Methodology
Market Size in 2023: USD 42.16 Bn
Market Size in 2030: USD 141.64 Bn
CAGR: 18.9 percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 225
No. of Tables: 136
No. of Charts and Figures: 195
Segment Covered: By Process, Material Type, Vehicle Type and Application
Regional Scope: North America, Europe, Asia Pacific, and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
The Metal Casting Market report conducts a thorough examination of market dynamics and the competitive landscape. Employing a meticulous bottom-up approach, the report provides an accurate estimation of market size and explores global and regional drivers, challenges, and opportunities driven by technological advancements. Regional analysis investigates market leadership, penetration, and demographic influences on the Semiconductor industry, while segmentation by product and distribution channel offers insights into target consumers, manufacturers, and effective advertising strategies.
In the competitive analysis section, a matrix showcases market leaders and new entrants, offering company overviews with key takeaways on revenue, financial health, technology, recent developments, and strategic initiatives such as mergers, acquisitions, alliances, and marketing tactics. Data collection involved both primary and secondary research methods, incorporating a blend of qualitative and quantitative analysis techniques. Primary research validated findings from secondary research, with tools like SWOT, PESTLE, and Porter’s Five Forces aiding in understanding factors shaping market growth. This investor’s guide equips clients with insights for informed investment and marketing decisions.
Metal Casting Market Overview
Metal casting is a manufacturing process that involves pouring molten metal into a hollow mold with a predetermined shape to create solidified parts. Materials commonly used in metal casting include grey iron, ductile iron, aluminum, steel, copper, and zinc, all known for their reliability and effectiveness. This method is particularly suitable for producing medium to large quantities of castings with intricate geometries at a lower cost compared to other production techniques. Cast metal components play a crucial role in various industries, constituting 90 percent of manufactured goods and equipment. From household appliances and medical devices to critical components in the aerospace and automotive sectors, cast metal items are integral to modern life and the economy.
Metal Casting Market Dynamics
Metal casting is a versatile process that involves pouring molten metal into a predefined mold to create a shaped component. Among the materials commonly used in metal casting are grey cast iron, ductile iron, aluminum, steel, copper, and zinc, known for their reliability and utility. This method is particularly cost-effective for producing medium to large quantities of castings with intricate geometries. Cast metal products find extensive use across various sectors, constituting a staggering XX percent of manufactured goods and equipment, ranging from household appliances to critical components in aerospace and automotive industries, thus playing an indispensable role in both daily life and the economy.
Cast iron, composed of silicon, carbon, manganese, sulfur, and phosphorus, boasts a diverse range of applications, including pans, pots, cutlery, engines, pipelines, and automobiles, driving the growth of the cast iron market. The demand for grey iron metal, especially in sectors such as housing, engine blocks, cylinder heads, and enclosures, is expected to surge owing to its desirable properties such as stiffness, thermal conductivity, and wear resistance.
Metal Casting Market Regional Insight
In 2023, Asia Pacific emerged as the dominant region in the metal casting market, commanding a significant volume share. China, a key player both in production and consumption, led the region with a total output of 49,400 kilotons. Meanwhile, India contributed to the market with a production volume of 12,055.1 kilotons in the same year. The robust demand for metal casting products in sectors like construction and automotive across these countries is propelled by factors such as population growth and rising income levels. Looking ahead, the European metal casting market is projected to witness moderate growth from 2024 to 2030, with a forecasted revenue CAGR of 4.9 percent. The region’s growth is primarily driven by the demand for finished goods in key countries like Germany and France. Notably, Europe hosts approximately 4,500 metal casting companies, with a majority comprising small-scale operations employing fewer than 50 individuals.
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Metal Casting Market Segmentation
By Process:
- Gravity Casting
- High-Pressure Die Casting (HPDC)
- Low-Pressure Die Casting (LPDC)
- Sand Casting
By Material Type:
- Aluminium
- Cast iron
- Magnesium
- Zinc
- Others
By Vehicle Type:
- BEV
- HEV
- PHEV
By Application:
- Automotive & transportation
- Industrial
- Building & construction
- Others
Based on Application, the market is sub-segmented into Automotive & transportation, Industrial, building and Construction and Others. In 2023, the automotive & transportation, segment is expected to grow at a CAGR of XX percent from forecast period. Since the last few years, global car manufacturing has been on a sluggish but steady upward trend. Global automotive output increased by XX percent in 2023, according to the International Organization of Motor Vehicle Manufacturers. The usage of aluminium for weight reduction will continue to be a significant element for automakers and market vendors.
Metal Casting Manufacturers include:
- Nemak
- Rheinmetall Automotive
- Ryobi Limited
- Dynacast
- Mino Industrial
- Aisin Automotive Casting
- Gibbs Die Casting
- FORCEBEYOND
- Reliance Foundry Co. Ltd
- Gulf Metal Foundry
- Georg Fischer Ltd
- Marimex – M. Ivanov
- ArcelorMittal SA,
- Bühler AG
- Fundição Regali Brasil
- Ahresty Corporation
- Endurance
- Tycon Alloy Industries (HongKong)
- TOYOTA INDUSTRIES CORPORATION
- NINGBO INNOVAW MECHANICAL CO., LTD
- Pyrotek
- Saanvi Founders
- National Metal Manufacturing and Casting Company
- Arabian FORASOL Foundation LLC
- Industrias Ascheri & Cia.
Key questions answered in the Metal Casting Market are:
- What is Metal Casting?
- What is the current growth rate of the Metal Casting Market?
- Who are the key players in the Metal Casting Market?
- What are the factors affecting growth in the Metal Casting Market?
- Who held the largest market share in Metal Casting Market?
- What is the demand pattern for the Metal Casting Market?
- What are the key trends in Metal Casting?
- What are the strategies used by competitors in the Metal Casting Market?
- What are the growth prospects in developing countries for the Metal Casting Market?
- Which segment is expected to witness the fastest growth and why in the Metal Casting Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Process, Material Type, Vehicle Type, Application and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Mining and Metal research firm, has also published the following reports:
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Metal Strips Market: Global Semiconductor Components Market size was valued at USD 212.75 Bn in 2023 and is expected to reach USD 285.54 Bn by 2030, at a CAGR of 4.29 percent over the forecast period. The Metal Strips market is witnessing a significant surge, driven by the increasing number of infrastructure development projects on a global scale. This trend is driven by significant investments by governments and private sectors in constructing and upgrading various infrastructure assets such as buildings, bridges, roads, railways, airports, and utilities.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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