Metal Casting Market

Growing manufacturing segment to boost market growth

By using cut-out moulds and metal casting, any desired 3D metal shape can be created for the production of goods for many industries. It's used to make lamp poles, bus pedals, and other things in addition to train wheels and vehicle parts. China, India, and the United States are the top metal casting suppliers. Casting is a typical essential step in the manufacturing of many goods. Casting of various parts is used in the production of over 90% of all durable goods.

A few additional industries, including as defence, agriculture, oil & gas, aerospace, railroad, healthcare, and transportation, in addition to the automotive, construction, and mining sectors, have a wide range of applications for metal casting in the production of various parts.

Further, several conventional methods of die metal casting will be replaced by growing additive manufacturing, often known as 3D printing. As comparison to investments in die metal casting, 3D printing produces results that are more powerful and lifelike. Any form of silicone, composite material, metal, plastic, and sand may now be printed using technology in power-based additive manufacturing. It provides manufacturers with the ability for flexible designing, rapid prototyping, waste minimization, lightweight and strong parts, easy access, and cost-effectiveness, which is restricting demand for metal casting.

Therefore, increasing demand from manufacturing industries has enhanced the metal casting market CAGR across the globe in the recent years.

HoweverTechnological advancements, disruptions, changing consumer preferences, and rapid growth in disposable income are expected to drive market revenue growth of the Metal Casting market revenue.Notably, it was announced by POSCO in November 2022 that two of its steel plants in Pohang and Gwangyang were certified for their laudable role in promoting sustainable development in the steel industry. This is a great testament to the unyielding efforts of these facilities, which are well-managed to achieve environmental, social and governance goals.

GF Casting Solutions of GF, based in Schaffhausen, Switzerland, signed an agreement with Bocar Group located in Mexico City, Mexico, in May 2022 to develop and invest in new technologies and services for customers on their way to sustainable mobility in North America as well as in Europe and Asia.

The aerospace sector is increasingly relying on the Global Metal Casting Market Industry for high-performance components. Aircraft manufacturers require lightweight yet strong materials for parts such as engine casings and structural components. As air travel continues to grow, the demand for new aircraft and maintenance of existing fleets is driving the need for advanced casting solutions. The industry is adapting to meet these requirements by developing specialized alloys and casting techniques that enhance performance and reduce weight. This trend is expected to contribute to the overall growth of the metal casting market, reflecting its critical role in supporting the aerospace industry's advancements.

The automotive sector plays a pivotal role in driving the Global Metal Casting Market Industry. With the increasing production of vehicles, the demand for cast components such as engine blocks, transmission cases, and wheels is on the rise. In 2024, the market is valued at approximately 149.8 USD Billion, reflecting the automotive industry's significant contribution. As manufacturers seek lightweight and durable materials to enhance fuel efficiency and performance, the metal casting industry is poised to benefit. This trend is expected to continue, with projections indicating a market growth to 240.8 USD Billion by 2035, suggesting a robust CAGR of 4.41% from 2025 to 2035.

Infrastructure development is a significant driver of the Global Metal Casting Market Industry, particularly in emerging economies. Governments worldwide are investing heavily in infrastructure projects, including bridges, roads, and buildings, which require substantial amounts of cast metal components. This trend is particularly evident in regions such as Asia-Pacific, where rapid urbanization is occurring. The demand for durable and high-strength materials in construction applications is propelling the metal casting market forward. As infrastructure projects continue to expand, the industry is expected to witness sustained growth, contributing to the overall market value.

The shift towards renewable energy sources is influencing the Global Metal Casting Market Industry. Wind turbines, solar panels, and other renewable energy technologies require various cast metal components for their construction and operation. As countries commit to reducing carbon emissions and increasing the share of renewables in their energy mix, the demand for these components is likely to rise. This trend not only supports environmental sustainability but also presents opportunities for metal casting manufacturers to diversify their product offerings and cater to the evolving energy landscape.

Technological innovations are transforming the Global Metal Casting Market Industry, enhancing efficiency and product quality. Advanced techniques such as 3D printing and automated casting processes are being adopted to reduce waste and improve precision. These advancements enable manufacturers to produce complex geometries that were previously unattainable. For instance, the integration of artificial intelligence in quality control processes is streamlining operations and minimizing defects. As these technologies become more prevalent, they are likely to attract investments and drive growth within the industry, further solidifying its position in the global market landscape.

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Metal Casting Market accounted for USD 145.23 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. It held 45.80% of the entire market. Asia Pacific is the most advantageous region for manufacturers to set up production facilities since it is characterised by the presence of skilled workers at a low cost.

Moreover, China Metal Casting market held the largest market share, and the India Metal Casting market was the fastest growing market in the Asia-Pacific region

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: METAL CASTING MARKET SHARE BY REGION 2023 (%) 

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Metal Casting market accounts for the second-largest market share. The demand for commercial vehicles is rising throughout Europe as a result of the expanding industrial sector and the expansion of business operations in logistics. This in turn serves as one of the important drivers of market expansion. Further, the Germany Metal Casting market held the largest market share, and the UK Metal Casting market was the fastest growing market in the European region.

Throughout the projected period, the North American Metal Casting Market is anticipated to have stable revenue growth. Heavy machinery used in agriculture and construction as well as automobiles, trucks, engines, and railroad cars are all processed using metal casting, which is a crucial element of the process. Further, the US Metal Casting market held the largest market share, and the Canada Metal Casting market was the fastest growing market in the region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the metal casting market to grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Metal Casting industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Metal Casting industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Metal Casting industry has provided with outcomes with some of the most significant benefits. The Metal Casting market major player such as Alcast Technologies, Dynacast, ArcelorMittal, POSCO, and Reliance Foundry Co. Ltd are working to expand the market demand by investing in research and development activities.

Dynacast, An international producer of precisely manufactured metal components is Dynacast, a Form Technologies Company. They provide reliable solutions for a variety of industries, such as automotive, consumer electronics, and healthcare, by utilising their own die cast processes. Zinc, aluminium, and magnesium are used in the production of high-precision die cast parts by Dynacast. If we talk about the size of those parts, let's say from hand size down to nearly nothing. We definitely have some components that are very, very difficult to see.

Also, POSCO, originally known as Pohang Iron and Steel Company Ltd., is one of the top steel manufacturers in the world. Over 26 million tonnes of hot- and cold-rolled steel products, including coil, plate, wire rod, electrical sheets, and stainless steel, are produced by the firm each year. The shipbuilding, automobile, and home appliance industries in Korea use around 72% of the steel produced by POSCO; the remaining 26% is exported to about 60 other nations. Also, POSCO runs a large number of international joint ventures and subsidiaries.

Since then, the company has concentrated on developing alliances with other steel producers, expanded its selection of steel products with added value, and withdrawn from joint ventures and non-performing enterprises. POSCO is also rapidly expanding in China.

Endurance Technologies Limited completed the acquisition of Italian auto parts manufacturer Grimeca Srl on June 30, 2020. In a filing made with the stock exchange Endurance disclosed that it acquired the remaining interest equaling upto100% shareholding valued at approximately USD $2.45 million or its equivalence of Euro €2.25million.

Kutes is a popular metal casting firm based out of Turkey that will undergo an energy efficiency makeover funded by Türkiye Sinai Kalkinma Bankasi (TSKB) and the European Bank for Reconstruction and Development (EBRD). TSKB has provided Kutes with a loan worth €15.4m to build two solar power plants located at Kirklareli and Edirne, amounting to 26 MW under the EBRD Risk Sharing Framework (RSF). In this groundbreaking move, EBRD takes only half credit risk from TSKB, signaling its commitment towards environment-friendly programs within the metals industries’ business in Turkey.