Metal Casting Market Synopsis

Metal Casting Market Size Was Valued at USD 136.7 Billion in 2023, and is Projected to Reach USD 221.3 Billion by 2032, Growing at a CAGR of 5.5% From 2024-2032.

The process may be defined as the use of a mold to pour molten metal in producing a three dimensional metal object or component. This method includes the creation of a mold with a cavity of a specific geometric shape, and then the molten metal is allowed to cool down to form the desired part. Minerals like cast iron, stainless steel, manganese, aluminum and all other minerals are highly used in metal casting process. The major segments and industries in which it is used are automotive, electrical and electronics, building and construction, heavy machinery and equipment, aerospace, and others.

• The market is growing at a healthy rates catalyzed by the rising car manufacturing and use of lightweight materials, development of technologies, shifting paradigm of using recycled metals, growing construction and infrastructural facilities, and development of defense and military sectors.
• One of the most significant manufacturing processes is metal casting that involves the production of a molded part via the pouring of molten metal into a hollow geometric cooperates. These include gray cast iron used in pumps and manufacture of machine tools, ductile iron for gears, Aluminium which is used in automotive and electrical parts, steel for construction and manufacturing of heavy machinery, copper used in the manufacturing of electrical equipment and Zinc which is used in galvanizing and manufacture of alloys. Metal casting can create intricate shapes and it is economically feasible for a range of more than one and up to thousands of objects. It is used to make every household utensils right from washing machines, fridges to electrical and clinical equipment; the parts of aeroplanes and automobiles; constructions of huge civil structures; machines, motors and generators; vehicles and ships; etc every manufactured product and equipment for 90% contains cast metal products and have therefore become key aspects of human survival and economic life.
• Emerging demand for metal casting goods in automobile industry and aircraft industry are main drivers for this market. Therefore, the increased requirement for lighter, stronger, and more durable parts in connection with enhancements in security standards and fuel efficiency expectations is fueling the growth of the market.
• Technological advancement in investment, die, and sand casting technologies have led to the improvement in the quality, accuracy and speed of the product, thus driving the market growth. Besides, the development of the high technological adoption of computer aided designing or plotting (CAD) and computer aided manufacturing or making (CAM) leading to high precision and less wastage also driving the market growth. In addition to this, technological advancements especially 3D printing that enables the formation of structures in geometry that cannot be achieved through casting methods is expected to fuel the growth of the market. Also, in the field of cast and products related to it, the innovations are taking place in the field of material science which is developing new alloys and new treatments thereby improving the function and performance of cast products is also encouraging growth.

Metal Casting Market Trend Analysis

Growing use of recycled metals

• The growing concern of the environment and the high cost of raw material which has put pressure on industries to use recycled metals for casting has boosted the market. In the same regard, increasing awareness of the need to utilize scrap metals in preserving resources, and curbing carbon footprint of the production process is supplying a boost to this market. In addition, the latest trends pointing to consumers shifting their focus to sustainable products which in turn have been a catalyst for manufacturers to incorporate recycled metals and aluminum to their products is working in the favor of the market. Also, the cost effective nature of recycled products which reduces the cost of using variable raw material, which affected manufacturers positively is boosting the market.

Widespread expansion in construction and infrastructure projects

• The escalating adoption of metal casting in construction and infrastructure industry is many factors that are fuelling the market growth. In support of this, the infrastructure of residential, commercial, and the industrial space as well as the increased demand for components that are produced through metal casting is further fueling the market growth. Besides this, the rise in product usage in the building of structural parts, accesses, and gears that demand more strength and hardness also boosts the market expansion. Also, expanding usage of metal castings for restoration and rehabilitation projects, as well as in repair work for existing structures is supporting the market growth. Besides this, the increasing concern of governments and the private sector towards building bridges, tunnels, and public transport infrastructures and so on with the requirement of superior Metal Casting solutions is accelerating the market growth.

Metal Casting Market Segment Analysis:

• Metal Casting Market Segmented based on Material and Application.

By Material, aluminum segment is expected to dominate the market during the forecast period

• The aluminum segment aluminum segment is likely to have the highest market share for the para-aramid fiber market in the coming years. In this segment, it is expected that a greater part of the demand will arise from emergence markets with the major focus on automotive, construction and oil & gas industries. Matured casting products can continue to become some of the most favored investment points.
• The rise in using lightweight metals such as magnesium and aluminium is expected to generated many prospects for market sellers. Higher regulations for emissions towards the atmosphere and the growing demands for energy intensity are expected to fuel the wheel market for lightweight materials during the forecast period. These materials help in cutting down the use of fuel due to decrease in weight of auto components.

By Application, automotive segment held the largest share in 2023

• In 2023, automotive segment dominated the market with revenue share. The global automotive production has been presenting a slowly yet steadily rising trend in international automotive manufacture in the recent years. By globalizing of the automobile industry, the production of automobiles in the global automobile production increased by 2. 3% while other top car-producer countries accounted for only 3% in 2017 down from 5% recorded by the International Organization of Motor Vehicle Manufacturers. Weight loss through the use of aluminum components will also remain an essential area of concern for both producers and market dealers.
• Within the industrial segment, the label printing system is likely to experience the fastest Compound Annual Growth Rate over the forecast period. Decanters consist of industrial products made with iron & steel materials, including metal valves and gaskets, flanges, airs injection tubes, coal throw pipes, airs injection tubes, collectors, radiation protection tubes, rollers, elbows, and bends. With the increase in the request for export-oriented products, the industrial segment is expected to be propelled by the planetary enlargement of manufacturing industries in China and other emergent countries.

Metal Casting Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Asia Pacific has been identified as the market leader and was growing with the largest revenue share in 2023. We find that the Asia Pacific region is well endowed with a skilled workforce at an affordable price, which is why it is a befitting region for manufacturers to establish production centers. According to the current global production landscape, especially for electronics, there is a gradual shift toward the emerging economies of China and India which is predicted to have a favorable impact on market growth over the forecast period. The growth of the automobile industry in the region indicated by its high pace of development will also contribute to the growth of the market in the future.
• China is seen as a relatively low-cost environment for production processes due to politico-legal factors. It can be concluded that in China, the metal casting market has been experiencing significant growth in the recent past in consideration of the economic advantages presented by the industry. This is a good opportunity for China to benefit from the availability of these hi-tech manufacturing facilities as well as a skilled workforce which are key inputs in this manufacturing.

Active Key Players in the Metal Casting Market

• POSCO
• Dynacast
• Arconic
• Ryobi Limited
• Endurance Technologies Limited
• Alcast Technologies
• UNI Abex
• MES, Inc.
• CALMET
• Hitachi, Ltd.
• Other Key Players

Key Industry Developments in the Metal Casting Market:

• In November 2022, POSCO reported that two steel plants, namely the Pohang steel plant and Gwangyang steel plant, have been certified for their exemplary effort in contributing towards the development of sustainable steel industry. This achievement sheds light on plants’ consistent and efficient performance in maintaining excellent ESG standards.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Metal Casting Market by Material
 4.1 Metal Casting Market Snapshot and Growth Engine
 4.2 Metal Casting Market Overview
 4.3 Iron
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Iron: Geographic Segmentation Analysis
 4.4 Steel
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Steel: Geographic Segmentation Analysis
 4.5 Aluminum
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Aluminum: Geographic Segmentation Analysis
 4.6 Others
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Others: Geographic Segmentation Analysis

Chapter 5: Metal Casting Market by Application
 5.1 Metal Casting Market Snapshot and Growth Engine
 5.2 Metal Casting Market Overview
 5.3 Automotive & Transportation
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Automotive & Transportation: Geographic Segmentation Analysis
 5.4 Industrial
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Industrial: Geographic Segmentation Analysis
 5.5 Building & Construction
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Building & Construction: Geographic Segmentation Analysis
 5.6 Others
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Others: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Metal Casting Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions
  
 6.2 POSCO
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 DYNACAST
 6.4 ARCONIC
 6.5 RYOBI LIMITED
 6.6 ENDURANCE TECHNOLOGIES LIMITED
 6.7 ALCAST TECHNOLOGIES
 6.8 UNI ABEX
 6.9 MES INC
 6.10 CALMET
 6.11 HITACHI LTD
 6.12 OTHER KEY PLAYERS

Chapter 7: Global Metal Casting Market By Region
 7.1 Overview
 7.2. North America Metal Casting Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Material
   7.2.4.1 Iron
   7.2.4.2 Steel
   7.2.4.3 Aluminum
   7.2.4.4 Others
  7.2.5 Historic and Forecasted Market Size By Application
   7.2.5.1 Automotive & Transportation
   7.2.5.2 Industrial
   7.2.5.3 Building & Construction
   7.2.5.4 Others
  7.2.6 Historic and Forecast Market Size by Country
   7.2.6.1 US
   7.2.6.2 Canada
   7.2.6.3 Mexico
 7.3. Eastern Europe Metal Casting Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Material
   7.3.4.1 Iron
   7.3.4.2 Steel
   7.3.4.3 Aluminum
   7.3.4.4 Others
  7.3.5 Historic and Forecasted Market Size By Application
   7.3.5.1 Automotive & Transportation
   7.3.5.2 Industrial
   7.3.5.3 Building & Construction
   7.3.5.4 Others
  7.3.6 Historic and Forecast Market Size by Country
   7.3.6.1 Bulgaria
   7.3.6.2 The Czech Republic
   7.3.6.3 Hungary
   7.3.6.4 Poland
   7.3.6.5 Romania
   7.3.6.6 Rest of Eastern Europe
 7.4. Western Europe Metal Casting Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Material
   7.4.4.1 Iron
   7.4.4.2 Steel
   7.4.4.3 Aluminum
   7.4.4.4 Others
  7.4.5 Historic and Forecasted Market Size By Application
   7.4.5.1 Automotive & Transportation
   7.4.5.2 Industrial
   7.4.5.3 Building & Construction
   7.4.5.4 Others
  7.4.6 Historic and Forecast Market Size by Country
   7.4.6.1 Germany
   7.4.6.2 UK
   7.4.6.3 France
   7.4.6.4 Netherlands
   7.4.6.5 Italy
   7.4.6.6 Russia
   7.4.6.7 Spain
   7.4.6.8 Rest of Western Europe
 7.5. Asia Pacific Metal Casting Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Material
   7.5.4.1 Iron
   7.5.4.2 Steel
   7.5.4.3 Aluminum
   7.5.4.4 Others
  7.5.5 Historic and Forecasted Market Size By Application
   7.5.5.1 Automotive & Transportation
   7.5.5.2 Industrial
   7.5.5.3 Building & Construction
   7.5.5.4 Others
  7.5.6 Historic and Forecast Market Size by Country
   7.5.6.1 China
   7.5.6.2 India
   7.5.6.3 Japan
   7.5.6.4 South Korea
   7.5.6.5 Malaysia
   7.5.6.6 Thailand
   7.5.6.7 Vietnam
   7.5.6.8 The Philippines
   7.5.6.9 Australia
   7.5.6.10 New Zealand
   7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Metal Casting Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Material
   7.6.4.1 Iron
   7.6.4.2 Steel
   7.6.4.3 Aluminum
   7.6.4.4 Others
  7.6.5 Historic and Forecasted Market Size By Application
   7.6.5.1 Automotive & Transportation
   7.6.5.2 Industrial
   7.6.5.3 Building & Construction
   7.6.5.4 Others
  7.6.6 Historic and Forecast Market Size by Country
   7.6.6.1 Turkey
   7.6.6.2 Bahrain
   7.6.6.3 Kuwait
   7.6.6.4 Saudi Arabia
   7.6.6.5 Qatar
   7.6.6.6 UAE
   7.6.6.7 Israel
   7.6.6.8 South Africa
 7.7. South America Metal Casting Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Material
   7.7.4.1 Iron
   7.7.4.2 Steel
   7.7.4.3 Aluminum
   7.7.4.4 Others
  7.7.5 Historic and Forecasted Market Size By Application
   7.7.5.1 Automotive & Transportation
   7.7.5.2 Industrial
   7.7.5.3 Building & Construction
   7.7.5.4 Others
  7.7.6 Historic and Forecast Market Size by Country
   7.7.6.1 Brazil
   7.7.6.2 Argentina
   7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research