Metal Foundry Products Market Research Report Information by Technology (Sand Casting, Gravity Die Casting, Continuous Casting, and Other Casting (Include Investment, and Centrifugal)), by Product Mix (Ferrous, Non-Ferrous), by Application (Backing Plates, Brake Caliper and Carriers, Brake Disks, Camshaft and Balancing Shafts, Commercial Vehicle Calipers, Differential Case, Pumps, Industrial Hydraulic Housing, Lanchester Balancing System, Wheel Flange, Glass Bottle Mould, Crank Case, Compressor Parts, Agricultural Machine Parts Earthwork Ma

Global Metal Foundry Products Market Overview

Metal Foundry Products Market Size was valued at USD 2,31,095 Million in 2022. The Metal Foundry Products Market industry is projected to grow from USD 2,42,800 Million in 2023 to USD 3,70,613 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.81% during the forecast period (2023 - 2032). The Metal Foundry Products Market refers to the global or regional marketplace where various metal products are manufactured, processed, and supplied through foundry processes. Foundries are industrial facilities that specialize in melting and casting metals into specific shapes and forms, often through processes such as sand casting, investment casting, die casting, and more. These processes involve melting metals such as iron, steel, aluminum, copper, and other alloys, and then pouring the molten metal into molds to create intricate and customize parts, components, or finished products. The growth of the global economy is driving the demand for metal foundry products. As economies grow, there is an increase in investment in infrastructure, construction, and manufacturing, which all require metal foundry products. The automotive and aerospace industries are increasingly demanding lightweight metal castings to improve fuel efficiency and performance. This is driving the growth of the metal foundry products market. Government policies, such as subsidies and tax breaks, can also impact the growth of the metal foundry products market.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Metal Foundry Products Market Trends

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  Increasing demand of metal casted products with increasing electric car demand.

  
  

The increasing demand for electric cars is driving the demand for metal casted products. Metal casted products is used in a variety of components in electric cars, including Battery casings: Metal casted products is used to make the battery casings in electric cars. The battery casings need to be corrosion-resistant and strong, and stainless-steel meets both requirements. Power electronics: Metal casted products is also used to make the power electronics in electric cars. Power electronics need to be able to withstand high voltages and currents, and metal casted products are good conductors of electricity. Automotive Exhaust systems: Metal cast products are also used to make the exhaust systems in electric cars. The exhaust systems need to be able to withstand high temperatures and corrosive emissions, and metal casted products is a good choice for this application. Structural components: Metal casted products is also used to make some of the structural components in electric cars, such as the frame and the suspension. Metal casted products is a strong and durable material, and it is also corrosion-resistant, making it a good choice for these applications. Electric car market is growing rapidly in all regions. However, China is the clear leader, with a growth rate of 42%. The United States is also growing rapidly, with a growth rate of 35%. Europe and Japan are growing at a slower pace, but they are still expected to see significant growth in the coming years. South Korea and India are also growing rapidly, and they are expected to become major markets for electric cars in the coming years. These require metal casted products casting products and therefore will push the demand further for metal casted products casting.

Increasing demand in agriculture sector

• There is an increasing demand for metal casted products in the agriculture sector. This is due to a number of factors, including:


• The need for durable and long-lasting products that can withstand the harsh conditions of agricultural use.


• The need for precision-made products that can meet the specific requirements of agricultural machinery and equipment.


• The need for cost-effective products that can help farmers to improve their productivity.


• The increasing adoption of new technologies in agriculture, such as precision farming, which requires the use of metal casted products.


• Some of the specific metal casted products that are in demand in the agriculture sector include:
  
  
  
  • Engine components: Metal casted engine components, such as cylinder heads, pistons, and crankshafts, are used in agricultural machinery and equipment. These components need to be strong and durable to withstand the high temperatures and pressures generated by the engines.
  
  
  • Machinery parts: Metal casted machinery parts, such as gears, bearings, and shafts, are used in a variety of agricultural machinery and equipment. These parts need to be strong, precise, and wear-resistant to ensure the smooth operation of the machinery.
  
  
  • Tools and implements: Metal casted tools and implements, such as plows, harrows, and cultivators, are used for a variety of agricultural tasks. These tools need to be strong, durable, and easy to use to help farmers to work more efficiently.
  
  
  • Structures: Metal casted structures, such as grain bins and silos, are used to store agricultural products. These structures need to be strong, weather-resistant, and cost-effective to meet the needs of farmers.
  
  
  
  

The demand for metal casted products in the agriculture sector is expected to continue to grow in the coming years. This is due to the increasing demand for food production, the need for more efficient and sustainable agricultural practices, and the adoption of new technologies in agriculture.

Metal Foundry Products Market Segment Insights:

Global Metal Foundry Products Technology Insights

Based on Technology, the Metal Foundry Products Market is segmented into: Sand Casting, Gravity Die Casting, Continuous Casting, and Other Casting (Include Investment, and Centrifugal). The Sand-Casting technology segment is expected to dominate the Metal Foundry Products Market during the forecast period. Sand casting is a versatile process that can be used to make a variety of shapes and sizes of castings. It is also a relatively inexpensive process, which makes it a good choice for mass production. Sand casting is used to make a wide variety of metal parts, including Engine blocks and cylinder heads, Pumps and valves, Machinery components, Tools and dies, Structural castings, Architectural castings, Toys, and other consumer products. Advantages of sand casting: It is a versatile process that can be used to make a variety of shapes and sizes of castings, It is a relatively inexpensive process, It is a good choice for mass production, It can be used to cast metals with high melting temperatures, It is a good choice for casting complex shapes.

Figure 1: Metal Foundry Products Market, by Technology, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Metal Foundry Products Product Mix Insights

Based on Product Mix, the Metal Foundry Products Market is segmented into: Ferrous, Non-Ferrous. The Ferrous Product Mix segment is expected to dominate the Metal Foundry Products Market during the forecast period. Ferrous metals are those that contain iron. They are the most common type of metal used in metal foundry products. Some of the most common ferrous metals used in metal foundry products include Steel: Steel is an alloy of iron and carbon. It is the most versatile and widely used metal in the world. Steel is used in a wide variety of applications, including construction, automotive, machinery, and appliances. Cast iron: Cast iron is an alloy of iron and carbon with a high carbon content. It is known for its strength and durability. Cast iron is used in a variety of applications, including pipes, valves, and engine blocks. Wrought iron: Wrought iron is an alloy of iron with a low carbon content. It is known for its toughness and flexibility. Wrought iron is used in a variety of applications, including railings, gates, and furniture.

Figure 2: Metal Foundry Products Market, by Product Mix, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Metal Foundry Products Application Insights

Based on Application, the Metal Foundry Products Market is segmented into: Backing Plates, Brake Caliper and Carriers, Brake Disks, Camshaft and Balancing Shafts, Commercial Vehicle Calipers, Differential Case, Pumps, Industrial Hydraulic Housing, Lanchester Balancing System, Wheel Flange, Glass Bottle Mould, Crank Case, Compressor Parts, Agricultural Machine Parts Earthwork Machine Parts, Crusher & Grinder Parts, Tooling and Grinding Products, Other Applications. The Tooling and Grinding Products application segment is expected to dominate the Metal Foundry Products Market during the forecast period. Metal foundries are involved in producing various tooling and grinding products that are essential for a wide range of industries. The growth of the metal tooling and grinding products market is being driven by the increasing demand for metalworking tools and grinding products in various industries, such as automotive, aerospace, and manufacturing. The rising demand for precision machines and the need to improve the efficiency of manufacturing processes are also driving the growth of the market. The automotive industry is the largest end-user of metal tooling and grinding products. The increasing demand for automobiles is driving the growth of the automotive industry, which in turn is driving the demand for metal tooling and grinding products.

Figure 3: Metal Foundry Products Market, by Application, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Metal Foundry Products End-use Insights

By End-Use, the Metal Foundry Products Market is segmented into: Automotive, Construction, Industrial, Agriculture, Water Treatment, Aerospace and Defense, Mining, Packaging, Other End-Use. The Automotive end-use segment is expected to dominate the Metal Foundry Products Market during the forecast period. Metal foundry products play a crucial role in the automotive sector, serving diverse end-use applications. From engine blocks and cylinder heads to transmission components and suspension parts, foundry products ensure structural integrity and performance. Engine blocks, crafted from cast iron or aluminum, provide the foundation for power delivery. Cylinder heads, often aluminum castings, house valves and contribute to efficient combustion. Transmission housings, differential cases, and axle components endure heavy loads, demanding robust casting materials. Additionally, suspension components like control arms and knuckles optimize handling and ride comfort.

Figure 4: Metal Foundry Products Market, by End-use, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Metal Foundry Products Regional Insights

The Metal Foundry Products Market, based on region, has been divided into North America, Europe, Asia Pacific, and LAMEA. North America consists of US, Canada and Mexico. Europe consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific consists of China, India, Japan, Sout Korea, and Rest of Asia-Pacific. LAMEA consists of the Middle East, Latin America, and Africa. Asia-Pacific accounted for the largest market share in 2022 and is expected to register the highest CAGR during the forecast period. This is due to several factors, including: The growing economies of China, India, and South Korea are driving demand for metal foundry products in these countries. The presence of many small and medium-sized foundries in the region is also contributing to the growth of the market. The region is a major exporter of metal foundry products to other parts of the world. In addition, the increasing adoption of advanced technologies in the metal foundry industry is also helping to drive growth in the market in Asia-Pacific region.

North America held the second largest share in the market for Metal Foundry Products and is anticipated to ascend at a revenue based CAGR over the forecast period. The demand for metal foundry products in North America is expected to be met by a combination of increased production and imports. The production of metal foundry products in North America is expected to grow in the coming years, but it is not expected to keep pace with the demand. This means that imports will also play a role in meeting the demand for metal foundry products in North America. The following are some of the major trends that are expected to shape the metal foundry industry in North America in the coming years: The increasing use of automation: Automation is being used in a number of metal foundry processes, such as molding, casting, and finishing. This is leading to increased productivity and efficiency in the metal foundry industry. The increasing use of recycled materials: The use of recycled materials is being promoted by government policies and by the metal foundry industry itself. This is due to the environmental benefits of using recycled materials and the cost savings that can be achieved. The development of new technologies: new technologies are being developed to improve the quality and performance of metal foundry products. These technologies include additive manufacturing, 3D printing, and virtual reality.

The increasing self-reliance programs by European countries, focus towards increasing production locally, and usage of recycling metals are some of the factors driving the market for metal foundry products in the coming years. Increasing self-reliance programs by European countries: The European Union has been working towards increasing its self-reliance in critical industries, such as the automotive and aerospace industries. This has led to increased demand for metal foundry products, as these industries require many metal castings. Focus towards increasing production locally: Many European countries are also focusing on increasing production locally, in order to reduce their reliance on imports. This is also driving the demand for metal foundry products, as local production requires metal castings to be made locally. Usage of recycling metals: The European Union is also promoting the usage of recycled metals. This is because recycled metals are more sustainable than virgin metals. The increased use of recycled metals is also driving the demand for metal foundry products. In addition to these factors, the growth of the construction industry, the rising demand for electric vehicles, and the increasing use of metal castings in 3D printing are also driving the market for metal foundry products in the coming years in Europe.

The demand for metal foundry products in Latin America, Middle East and Africa (LAMEA) is driven by a number of factors, including Growing infrastructure sector: The infrastructure sector in LAMEA is growing rapidly, with investments being made in roads, bridges, railways, and other projects. This is driving demand for metal foundry products, such as steel beams and pipes. Expanding automotive industry: The automotive industry in LAMEA is also expanding, with new plants being built and existing plants being expanded. This is driving demand for metal foundry products, such as engine blocks and cylinder heads. Increasing demand for consumer goods: The demand for consumer goods in LAMEA is also increasing, as the middle class grows, and people have more disposable income. This is driving demand for metal foundry products, such as appliances and furniture. Low labor costs: The labor costs in LAMEA are lower than in other parts of the world, which makes it an attractive destination for metal foundry investment. Government support: Governments in LAMEA are providing support to the metal foundry sector, such as tax breaks and subsidies. This is helping to drive investment and growth in the sector.

Figure 5: Metal Foundry Products Market Size By Region 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Metal Foundry Products Key Market Players & Competitive Insights

Many competitors are operating in the highly competitive global market for metal foundry products. These firms are well-established in the market and provide a variety of goods and services. They continually spend money on R&D to create new items and enhance their current offerings. Leading companies are making significant R&D investments to create new goods and enhance their products. This is crucial to fulfill the rising demand for intricate and high-performance metal castings. They are acquiring smaller competitors to diversify their product offering and tap into new markets. This tactic is frequently used in the metal foundry sector since it enables larger players to access new technology and knowledge. Leading players collaborate with other businesses to pool resources and knowledge. This tactic is frequently used in the metal foundry sector since it enables businesses to pool their resources and create new goods and services more quickly. Moreover, they are increasing their manufacturing capacity to keep up with the rising demand for metal foundry products. By making purchases of additional facilities and tools, this is accomplished. The top competitors in the global market for metal foundry goods use these tactics to keep a competitive edge and expand their businesses.

OMCO INTERNATIONAL, Toyota Industries Corporation, Bakgiyam Engineering (P) Ltd, Nelcast Limited, Morgan Advanced Materials, Asbury Carbons, Viet Nam Cast Iron, Gulf Metal Foundry, Castwis, CALMET, and many more, are the key players in the Metal Foundry Products Market.

Key Companies in the Metal Foundry Products Market include.

• OMCO INTERNATIONAL


• Toyota Industries Corporation


• Bakgiyam Engineering (P) Ltd


• Nelcast Limited


• Morgan Advanced Materials


• Asbury


• Viet Nam Cast Iron


• Gulf Metal Foundry


• Castwis


• CALMET

Metal Foundry Products Market Industry Developments

• In 2022, Morgan Advanced Materials receives the Silver EcoVadis Medal for sustainability after exceeding expectations. The medal is given in appreciation for a composite score reflecting advancements made in the four ESG pillars (environment, labor & human rights, ethics, and sustainable procurement). Morgan now ranks in the top 25 percent of all the businesses that EcoVadis evaluated.


• In 2021: Orlando, Florida-based Garmor Inc. was acquired by Asbury Carbons, Inc., a leading global processor of carbon and graphite materials. Edge-functionalized graphene is produced commercially by Garmor, an advanced materials company, using a patented, environmentally friendly process that involves attaching chemical moieties to the edge of graphene sheets to impart solubility, film-forming ability, and electrocatalytic activity without changing the physical chemistry of the graphene.


• In 2020: The establishment of a Greenfield Project for the production of iron casting at Pedapariya in Andhra Pradesh was previously announced by NELCAST Ltd. The company has finished the project's Phase II, and commercial production has begun. Commercial manufacturing has begun following the successful conclusion of the initial testing runs. Phase II of the project has a 42000 MT annual capacity.

Metal Foundry Products Market Segmentation

Global Metal Foundry Products Applications Outlook (USD Million, 2019-2032)

• Backing Plates


• Brake Caliper And Carriers


• Brake Disks


• Brake Disks (Or Disc)


• Camshaft And Balancing Shafts


• Commercial Vehicle Caliper


• Differential


• Pumps


• Industrial Hydraulic Housing


• Lanchester Balancing System


• Wheel Flanges


• Glass Bottle Mold


• Crank Case


• Compressor Part


• Agricultural Machine Part


• Earth Work Machine Part


• Crushers And Grinders


• Tooling And Grinding


• Other Applications

• Construction


• Industrial


• Agriculture


• Water Treatment


• Aerospace And Defense


• Mining


• Packaging


• Other End Use

• Sand Casting


• Gravity Die Casting


• Continuous Casting


• Other Casting

Global Metal Foundry Products Product Mix Outlook (USD Million, 2019-2032)

• Ferrous


• Non-Ferrous

Metal Foundry Products Market Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada and Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • Italy
  
  
  • France
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• LAMEA
  
  
  
  • Middle East
  
  
  • Latin America
  
  
  • Africa