Metal Casting Market Research Report Information By Material Type (Cast Iron, Aluminum, Stainless Steel, Zinc, Magnesium), By Process (Sand Casting, Die Casting, Shell Mold Casting, Gravity Casting, Vacuum Casting), By End-Use Industry (Automotive & Transportation, Building & Construction, Mining, Equipment & Machine, Consumer Goods), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030.
ID: MRFR/CnM/6642-CR | 100 Pages | Author: Priya Nagrale | April 2022
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Global Metal Casting Market Overview
Metal Casting Market size was valued at USD 345.5 billion in 2022. The metal casting industry is projected to grow from USD 372.44 Billion in 2023 to USD 584.49 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2022 - 2030). The automobile industry's rising demand for aluminum and the expansion of the main end-use industries are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Metal Casting Market Trends
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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.
Metal Casting Market Segment Insights
Metal Casting Material Type Insights
The Metal Casting market segmentation, based on Materialtype, Cast Iron, Aluminum, Stainless Steel, Zinc, Magnesium. The cast iron industry contributed the most to total income. Cast iron, which is used in lost foam casting or sand casting, is a mixture of carbon, silicon, manganese, and other impurities, including phosphorus and sulphur. Due to its lower melting point, castability, good fluidity, machinability, deformation resistance, wear resistance, and other properties, cast iron is also used in machines, pipes, industry parts for automobiles, gearbox cases, and cylinder heads, these are the major contributions in respect to the Metal Casting market revenue.
Figure 1: Metal Casting Market, by Material type, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
June 2022: NanoAL, Nikkei MC Aluminium Co., Ltd., and Mitsubishi Corporation RtM Japan Ltd. commenced a partnership for the commercialization and development of innovative die-casting aluminium alloys to target various emerging applications, such as electronics and automotive.
Metal Casting Process Insights
The Metal Casting market segmentation, based on Process, includes Sand Casting, Die Casting, Shell Mold Casting, Gravity Casting, Vacuum Casting. In terms of revenue share in 2021, sand casting ranked first. The casting method reduces the cost of tools and allows for the recycling of scrap while allowing varying sizes of metal components to construct complicated designs. Sand casting is also used in the manufacturing of air compressor pistons, impellers, blowers, bearings, cams, engine oil pans, gears, valves, screw nuts, and mining machine parts. These applications are likely to support the segment's expected revenue growth. Throughout the projection period, the die casting segment is anticipated to experience moderate revenue growth. The vacuum casting market is anticipated to grow at a moderate rate in terms of revenue during the projected period. This casting process is widely employed in the automotive industry. Some limited batches of useful pieces are produced using this casting technique. Hence, rising development in these segments positively impacts the market growth.
Metal Casting End-Use Industry Insights
The Metal Casting market data has been bifurcated by End-Use Industry into Automotive & Transportation, Building & Construction, Mining, Equipment & Machine, Consumer Goods. In 2021, the automotive and transportation category had the biggest revenue share. The largest market for metal casting parts is the worldwide automotive sector. For the production of various small parts in buses, cars, trucks, and other vehicles, there is an increasing demand for lightweight die castings in the automotive industry. Furthermore, complicated, lightweight, and high tensile structural components are needed for the aircraft sector. Die casting with aluminium and magnesium stimulates the production of lightweight, fuel-efficient aircraft. Many applications and rapid automotive industry expansion are anticipated to fuel this segment's revenue growth.
Metal Casting Regional Insights
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 2022 (%) 
Source: Secondary Research, Primary Research, MRFR 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.
Metal Casting Key Market Players & Competitive Insights
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.
Key Companies in the Metal Casting Market includes
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Dynacast
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ArcelorMittal
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POSCO
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Metal Casting Industry Developments
October 2020: The Northern Endurance Partnership (NEP), which will be operated by bp, has been founded by Equinor, National Grid, Shell, and Total. Its goal is to build offshore carbon dioxide (CO2) transport and storage infrastructure in the UK North Sea.
February 2021: Clearlake announces the formation of Newfold Digital and completes the acquisition of Endurance International Group and strategic investment transactions with Web.com and affiliates of Siris.
Metal Casting Market Segmentation
Metal Casting Material Type Outlook
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Cast Iron
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Aluminum
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Stainless Steel
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Zinc
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Magnesium
Metal Casting Process Outlook
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Sand Casting
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Die Casting
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Shell Mold Casting
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Gravity Casting
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Vacuum Casting
Metal Casting End-Use Industry Outlook
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Automotive & Transportation
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Building & Construction
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Mining
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Equipment & Machine
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Consumer Goods
Metal Casting Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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Report Scope:
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 345.5billion |
| Market Size 2023 | USD 372.44 billion |
| Market Size 2030 | USD 584.49 billion |
| Compound Annual Growth Rate (CAGR) | 7.80% (2022-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material Type, Process, End-Use Industry and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Alcast Technologies, Dynacast, ArcelorMittal, POSCO, Reliance Foundry Co. Ltd |
| Key Market Opportunities | Increasing demand for aluminum in the automotive industry |
| Key Market Dynamics | Metal casting foundries rely on metal recycling as a cost-efficient source of raw material, which significantly reduces scrap metal. Technological developments in the automotive field are propelling the demand for automotive products. |
Frequently Asked Questions (FAQ) :
The Metal Casting market size was valued at USD 345.5 Billion in 2022.
The market is projected to grow at a CAGR of 7.80 % during the forecast period, 2022-2030.
Asia-Pacific had the largest share in the market
The key players in the market are Alcast Technologies, Dynacast, ArcelorMittal, POSCO, Reliance Foundry Co. Ltd
The cast iron segment dominated the market in 2022.
The automotive and transportation segment had the largest share in the market.
Key Questions Answered
- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
- ✅Recommendations
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