Metal Casting

Metal Casting

Global Metal Casting Market to Reach US$203.5 Billion by 2030

The global market for Metal Casting estimated at US$146.7 Billion in the year 2023, is expected to reach US$203.5 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2023-2030. Aluminum Casting, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$90.4 Billion by the end of the analysis period. Growth in the Iron Casting segment is estimated at 4.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$39.6 Billion While China is Forecast to Grow at 8.2% CAGR

The Metal Casting market in the U.S. is estimated at US$39.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$44.1 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.4% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

Global Metal Casting Market - Key Trends and Drivers Summarized

Why Is Metal Casting Crucial in Modern Manufacturing?

Metal casting is one of the oldest manufacturing processes, yet it remains a critical method for producing complex metal parts and components across various industries. The process involves pouring molten metal into a mold, where it solidifies into the desired shape. Metal casting is widely used in industries like automotive, aerospace, construction, and heavy machinery because it allows manufacturers to create intricate parts with high precision and strength. Materials commonly used in casting include iron, aluminum, steel, and copper alloys. With advancements in casting technologies, modern metal casting processes have become more efficient, cost-effective, and capable of producing high-quality, complex parts.

What Innovations Are Shaping the Metal Casting Industry?

Innovations in the metal casting industry are focused on improving precision, reducing production costs, and enhancing sustainability. The introduction of computer-aided design (CAD) and simulation tools has significantly improved the accuracy and efficiency of casting processes, allowing manufacturers to optimize designs before production begins. Additive manufacturing, or 3D printing, is also transforming the industry by enabling the creation of intricate molds and cores that would be difficult or impossible to achieve with traditional methods. Additionally, innovations in alloys and metal composites are helping improve the strength and durability of cast parts, while environmentally friendly casting methods, such as the use of biodegradable sand molds, are gaining popularity as manufacturers look to reduce their environmental footprint.

How Do Market Segments Define the Growth of Metal Casting?

The two primary casting processes are sand casting and die casting, with sand casting being the more traditional and widely used method. Die casting, on the other hand, offers higher precision and is commonly used in industries like automotive and aerospace. Materials used in casting include ferrous metals such as iron and steel, and non-ferrous metals like aluminum, magnesium, and copper alloys. In terms of end-user industries, the automotive and heavy machinery sectors account for the largest share of the metal casting market, followed by aerospace, construction, and energy.

What Factors Are Driving the Growth in the Metal Casting Market?

The growth in the metal casting market is driven by several factors, including the increasing demand for lightweight and high-strength components in the automotive and aerospace industries, advancements in casting technologies, and the growth of infrastructure and construction activities. As automakers seek to reduce vehicle weight to improve fuel efficiency, they are turning to metal casting to produce lightweight aluminum and magnesium components. Additionally, innovations in casting materials and processes are enabling manufacturers to meet the rising demand for high-performance parts in industries like aerospace and energy. The expansion of infrastructure projects, particularly in developing regions, is also boosting demand for cast metal products in construction and machinery applications.

Select Competitors (Total 14 Featured) -

• Ahresty Corporation
• Aisin Automotive Casting, LLC
• Alcast Technologies
• Arconic
• CALMET
• Dynacast Ltd
• Endurance Technologies Limited
• GF Casting Solutions AG
• Gibbs (Koch Enterprises Inc.)
• Hitachi Metals
• MES, Inc.
• MINO Industry USA, Inc.
• NEMAK SAB de CV
• POSCO
• Rheinmetall Automotive AG
• Ryobi Ltd.
• Thyssenkrupp AG
• Toshiba Machine Co., Ltd
• Uniabex

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