Metal Casting Market By Process (Sand Casting, Investment Casting, Die Casting, Gravity Casting, Others), By End-use Industry (Automotive, Heavy Machinery and Equipment, Defense, Electrical and Electronics, Building and Construction, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global metal casting market was valued at $129.5 billion in 2021, and is projected to reach $226.8 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031. Metal casting is the process of making objects by pouring molten metal into an empty shaped space. The metal then cools and hardens into the form given to it by this shaped mold. Metal casting is used in various end-use sectors including automotive, electrical and electronics, building and construction, heavy machinery and equipment, aerospace, and others.
Factors such as increasing disposable income, technological upgrades, and spurring rise in original equipment manufacturers (OEMs) have led the automotive sector to witness a significant growth. Metal castings are widely used in automotive sector for producing various automotive parts of different shapes. For instance, metal die castings are used in producing alloy wheels, body frames, pistons, engine blocks, valve covers, carburetors, fan clutches, and others. Furthermore, increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India, have led the building & construction sector to witness significant growth where metal casting process is widely employed for designing and production of both interior and exterior metallic structures, window frames, and others. These factors are anticipated to fuel the growth of the metal casting market during the forecast period
However, casting involves several processes such as melting of metal, transferring the molten metal to mold cavity, and solidification of molten metal. These processes require a relatively large amount of heat energy. Furthermore, the overall process consists of different sophisticated equipment that are fabricated to work at high temperature application. These factors make metal casting an expensive process, which in turn may restrain manufacturers with less investment potential to enter into metal casting market.
On the contrary, rapid technological advancements coupled with the emergence of artificial intelligence (AI), internet of things (IoT) and machine learning (ML) technologies have surged the demand for various consumer electronic devices. Metal casting solutions are widely used in electronics sector for producing three-dimensional parts. Furthermore, key electronic manufacturers such as Samsung, LG, Apple, and others, are using metal casting owing to its advantages such as quick yield of complexes, preciseness, and production of rigid cast parts with smooth surfaces that do not need intense secondary machining. These factors have surged the popularity of metal castings in the growing electronics sector; thus, creating remunerative opportunities for the market.
The metal castings market is segmented into process, end-use industry, and region. On the basis of process, the market is categorized into sand casting, investment casting, die casting, gravity casting, and others. By end-use industry, it is classified into automotive, heavy machinery and equipment, defense, electrical and electronics, building and construction and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global metal casting market profiles leading players that include Ahresty Corporation, Aisin World Corp. of America, Dawang Steel Casting Foundry, Dynacast International, Endurance Technologies Limited, Georg Fischer Ltd, GIBBS, Gujarat Precision Cast Pvt. Ltd., MINO Industry USA, Inc, NEMAK, Omnidex Group, Rheinmetall Ag, RFQLINE, INC, RYOBI DIE CASTING, and Sujan Industries. The global metal casting market report provides in-depth competitive analysis as well as profiles of these major players
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the metal casting market analysis from 2021 to 2031 to identify the prevailing metal casting market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the metal casting market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global metal casting market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End-use Industry
Automotive
Heavy Machinery and Equipment
Defense
Electrical and Electronics
Building and Construction
Others
By Process
Sand Casting
Investment Casting
Die Casting
Gravity Casting
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest Of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
Nemak
Dynacast International
ahresty corporation
Rheinmetall Ag
Ryobi Die Casting (USA), Inc.
Georg Fischer Ltd.
Aisin World Corp. of America
Endurance Technologies Limited
MINO Industry USA, Inc
GIBBS
Gujarat Precision Cast Pvt. Ltd.
Omnidex Group
Dawang Steel Casting Foundry
RFQLINE, INC
Sujan Industries
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