Metal Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Metal Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global metal casting market size reached US$ 151.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 236.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

Metal casting is a process in which molten metal is poured into a hollow container of desired geometrical shape to form a solidified part. There are many reliable and effective metal casting materials such as, gray iron, ductile iron, aluminum, steel, copper and zinc. Metal casting can produce objects with complex shapes and is cheaper compared to other manufacturing processes for medium to large quantities of castings produced. Cast metal products are an integral part of the human life and economy as they are found in 90% of the manufactured goods and equipment, ranging from home appliances and surgical equipment to critical components for aircraft and automobiles.

Metal casting technology offers numerous advantages; it aids in improving energy efficiency, lowering production costs, enhancing environmental quality, and creating innovative new cast products. Due to these advantages, it is used in pipes and fittings, mining and oilfield machinery, internal combustion engines, railroads, valves and farm equipment, which depend heavily on casting to create uniform products. Further, metal casting foundries rely on metal recycling as a cost-efficient source of raw material, which significantly reduces scrap metal. Besides this, the ongoing research in the field of metal casting ensures innovations and improvements in the casting process, including the development in lost foam casting and computer-based visualization tools for die casters to create alternative means for molding. These advanced casting technologies allow foundry researchers to produce defect-free castings and help them to explore detailed phenomena associated with the new casting process parameters. Moreover, the deteriorating environmental conditions have prompted manufacturers to formulate simulation-based castings to reduce wastage and operational costs.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global metal casting market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on process, material type, end use, components, vehicle type, electric & hybrid type, and application.

Breakup by Process:

Sand Casting
Gravity Casting
High-Pressure Die Casting (HPDC)
Low-Pressure Die Casting (LPDC)
Others

Breakup by Material Type:

Cast Iron
Aluminum
Steel
Zinc
Magnesium
Others


Breakup by End Use:

Automotive and Transportation
Equipment and Machine
Building and Construction
Aerospace and Military
Others

Automotive and Transportation Market: Breakup by Components:

Alloy Wheel
Clutch Casing
Cylinder Head
Cross Car Beam
Crank Case
Battery Housing
Others

Automotive and Transportation Market: Breakup by Vehicle Type:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

Automotive and Transportation Market: Breakup by Electric and Hybrid Type:

Hybrid Electric Vehicles (HEV)
Battery Electric Vehicles (BEV)
Plug-In Hybrid Electric Vehicles (PHEV)

Automotive and Transportation Market: Breakup by Application:

Body Assemblies
Engine Parts
Transmission Parts
Others

Breakup by Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Nemak Sab De CV (Alfa, Sab De CV), GF Casting Solutions AG (Georg Fischer Ltd), Dynacast Ltd, Ryobi Limited, Rheinmetall Automotive AG, Endurance Technologies Limited, Ahresty Corporation, Gibbs (Koch Enterprises Inc.), Aisin Automotive Casting, LLC (Aisin Seiki Co., Ltd.), MINO Industry USA, Inc, Thyssenkrupp AG and Shibaura Machine Co., Ltd., etc.

This report provides a deep insight into the global metal casting market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the metal casting market in any manner.

Key Questions Answered in This Report
1. What was the size of the global metal casting market in 2022?
2. What is the expected growth rate of the global metal casting market during 2023-2028?
3. What are the key factors driving the global metal casting market?
4. What has been the impact of COVID-19 on the global metal casting market?
5. What is the breakup of the global metal casting market based on the process?
6. What is the breakup of the global metal casting market based on the material type?
7. What is the breakup of the global metal casting market based on the end use?
8. What are the key regions in the global metal casting market?
9. Who are the key companies/players in the global metal casting market?