Metal Casting Market: Trends, Competition, and Industry Size Forecasts

The process of metal casting involves pouring molten metal into a hollow container with a desired geometrical shape, which then solidifies to form a part. Reliable and effective metal casting materials, including gray iron, ductile iron, aluminum, steel, copper, and zinc, are available.

Metal casting is cost-effective for producing medium to large quantities of castings and can create objects with complex shapes. Cast metal products play a vital role in the human life and economy, as they are present in 90% of manufactured goods and equipment, ranging from home appliances to critical components for aircraft and automobiles.

Metal casting technology offers several advantages, including improved energy efficiency, reduced production costs, enhanced environmental quality, and innovative new cast products. It is extensively used in pipes and fittings, mining and oilfield machinery, internal combustion engines, railroads, valves, and farm equipment.

Moreover, metal casting foundries rely on metal recycling to obtain raw materials, which significantly reduces scrap metal. The ongoing research in the field of metal casting is leading to innovations and improvements in the casting process, such as the development of lost foam casting and computer-based visualization tools for die casters.

These advanced casting technologies enable foundry researchers to produce defect-free castings and explore the detailed phenomena associated with new casting process parameters. Furthermore, the deteriorating environmental conditions have prompted manufacturers to develop simulation-based castings to reduce wastage and operational costs.

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Global Metal Casting Market is projected to grow at a CAGR during 2023-2027. The major factors contributing to the growth of the market are growing vehicle production, increasing trend for light weight vehicles and growing stringency in emission & fuel efficiency regulations. However, low vehicle sales due to COVID-19 can hamper the growth of the metal casting market in 2021.

Based on vehicle type, the market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. In 2020, the passenger cars segment dominated the metal casting market due to increasing sales & production of passenger cars and growing average content in passenger cars.

In terms of regional analysis, APAC region dominated the metal casting market in 2020 due to increasing vehicle sales, growing presence of OEMs’, domestic as well as international, in the region.

Some of the major players operating in metal casting Market are?Mino Industrial, Aisin Automotive Casting, Dynacast, Endurance, Nemak, Ryobi Limited, GF Automotive, Ahresty Corporation, Rheinmetall Automotive, Gibbs Die Casting. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

Objective of the Study:

• To analyse and forecast the market size of Metal Casting, in terms of value and volume.
• To classify and forecast Global Metal Casting based on vehicle type, electric vehicle type, material type, application, and regional distribution.
• To identify drivers and challenges for Global Metal Casting.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global Metal Casting.
• To conduct the pricing analysis for Metal Casting.
• To identify and analyse the profile of leading players involved in the manufacturing of Global Metal Casting.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturers across the globe.

TechSci Research calculated the market size of Global?Metal Casting using?a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

• Original Equipment Manufacturers
• Automotive casting components manufacturers
• ?Automotive casting materials manufacturers
• Raw Material Suppliers
• Traders, Distributors, and Suppliers
• Industry associations and experts
• Research organizations and consulting companies.
• Research Institutes
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

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