Report Details:
15 Companies Covered
234 Pages
Market Research Future (MRFR) has published a cooked research report on the “Cast Iron Market” that contains the information from 2019 to 2035.
The Cast Iron market is estimated to register a CAGR of 5.655% during the forecast period of 2025 to 2035.
MRFR recognizes the following companies as the key players in the Cast Iron Market— JS Auto Cast, American Cast Iron Pipe Company, Govind Steel Company Limited, Jianzhi, Electrosteel Castings Limited, GF Piping Systems, McWane, Kubota Corporation, Teksid, Charlotte Pipe and Foundry and others.
Cast Iron Market Highlights
The Cast Iron Market is accounted for to register a CAGR of 5.655% during the forecast period and is estimated to reach USD 1,79,287.95 million by 2035.
The unprecedented expansion in renewable energy represents a transformative opportunity for the Cast Iron Market, driven by the massive infrastructure requirements of wind and solar installations worldwide. Global renewable energy capacity grew by a record-breaking 15.1% in 2024 to reach 4,448 gigawatts (GW) Renewable energy capacity surged around the world in 2024, with wind and solar leading this surge. This explosive growth translates directly into increased demand for cast iron components, which are essential structural elements in renewable energy systems, particularly wind turbines where iron or cast iron comprises 5-17% of total turbine mass according to the National Renewable Energy Laboratory.
The wind power sector specifically presents substantial opportunities for cast iron manufacturers, with the wind turbine casting market experiencing robust growth trajectories. This growth is underpinned by the fundamental role cast iron plays in critical wind turbine components, including hubs, nacelle frames, and gearbox housings, where its excellent strength-to-weight ratio and fatigue resistance make it indispensable for equipment designed to operate continuously for over 20 years.
Recent developments underscore the sector's evolution and growing sophistication. By the end of 2024, the US Energy Information Administration expects wind capacity to rise to 153.8 GW, up by 6.5 GW from a year earlier, while innovative solutions are emerging to enhance cast iron applications. A new welding method has been developed, enabling the repair and subsequent assembly of large cast iron components in wind turbines, developed through the WeldCast innovation project involving Siemens Gamesa Renewable Energy, demonstrating the industry's commitment to maximizing the utility and longevity of cast iron components.
Segment Analysis
The Cast Iron Market has been segmented based on Application, Product Type, Manufacturing Process, Grade and Region.
The Cast Iron Market segmentation, based on Application has been segmented into Automotive, Construction, Industrial Machinery, Plumbing and Heating and Others. Among these, the Automotive Cast Iron is projected to dominate the Cast Iron Market revenue through the projected period. Based on Product Type, the Cast Iron Market is segmented into Casting, Pipes, Fitting and Others. Among these, the Casting segment is projected to dominate the market revenue through the period.
The Cast Iron Market segmentation, based on Manufacturing Process has been segmented into Sand Casting, Permanent Mold Casting, Centrifugal Casting, Investment Casting and Others. Among these, the Sand Casting segment is projected to dominate the Cast Iron Market revenue through the projected period. Based on Grade, the Cast Iron Market is segmented into Gray Iron, Ductile Iron, Malleable Iron, White Iron and Others, Among which, the Gray Iron is projected to dominate the market revenue through the period.
Region Analysis
By Region, the Cast Iron market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific Cast Iron market holds considerable market share and is also forecasted to hold the largest share during the forecast period. Asia Pacific has a strong industrial database and widespread adoption across various sectors.
Key Findings of the Study
- The Cast Iron Market is expected to reach 1,79,287.95 million by 2035, at a CAGR of 5.655% during the forecast period.
- Asia Pacific accounted for the fastest-growing market.
- Based on Application, the Automotive segment was attributed to holding the largest market in 2024.
- Based on Product Type, the Casting segment was attributed to holding the largest market in 2024.
- Based on Manufacturing Process, the Sand Casting segment was attributed to holding the largest market in 2024.
- Based on Grade, the Gray Iron segment was attributed to holding the largest market in 2024.
- JS Auto Cast, American Cast Iron Pipe Company, Govind Steel Company Limited, Jianzhi, Electrosteel Castings Limited, GF Piping Systems, McWane, Kubota Corporation, Teksid, Charlotte Pipe and Foundry and others are the key market players.