The latest report by IMARC Group, titled “Metal Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global metal casting market reached a value of US$ 139 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 221.3 Billion by 2027, exhibiting a CAGR of 7.8% during 2022-2027.
Metal casting represents the manufacturing process in which molten metal is poured into a hollow container of the desired geometrical shape to form a solidified structure. Metal Casting aids in producing complex and large-size parts for several industrial applications at a relatively affordable price point. Some reliable and effective metal casting materials include aluminum, steel, copper, gray iron, ductile iron, zinc, etc. In addition to this, metal casting offers various benefits, such as reducing production costs, enhancing environmental quality, improving energy efficiency, creating innovative new cast products, etc. Consequently, it finds wide-ranging applications across numerous industries, including aerospace, construction, transportation, etc.
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Global Metal Casting Market Trends:
The inflating need for lightweight automotive materials is primarily driving the metal casting market. Additionally, the growing product utilization as a cost-efficient source of raw materials in mining and oilfield machinery, pipes and fittings, internal combustion (IC) engines, valves, railroads, farm equipment, etc., is further stimulating the market growth. Apart from this, the implementation of stringent regulations by government bodies across countries that mandate the adoption of energy-efficient materials in the automotive industry is also augmenting the global market.
Moreover, the increasing investments in R&D activities to develop computer-based visualization and lost foam casting tools to create alternative means for molding are acting as significant growth-inducing factors. Besides this, the introduction of simulation-based product variants by leading manufacturers to minimize operational costs and wastage is anticipated to fuel the metal casting market over the forecasted period.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- NEMAK SAB de CV
- GF Casting Solutions AG
- Dynacast Ltd.
- Ryobi Limited
- Rheinmetall Automotive AG
- Endurance Technologies Limited
- Ahresty Corporation
- Gibbs (Koch Enterprises Inc.)
- Aisin Automotive Casting, LLC
- MINO Industry USA, Inc.
- Thyssenkrupp AG
- Toshiba Machine Co., Ltd
Key Market Segmentation Breakup by:
- Gravity Casting
- High-Pressure Die Casting (HPDC)
- Low-Pressure Die Casting (LPDC)
- Sand Casting
- Cast Iron
- Alloy Wheel
- Battery Housing
- Clutch Casing
- Cross Car Beam
- Crank Case
- Cylinder Head
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Electric and Hybrid Type:
- Hybrid Electric Vehicles (HEV)
- Plug-In Hybrid Electric Vehicles (PHEV)
- Battery Electric Vehicles (BEV)
- Body Assemblies
- Engine Parts
- Transmission Parts
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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