Metal Casting Market Size Projected to Reach USD 141.64 Billion by 2030

At the end of 2023, the global Metal Casting Market Size was valued at USD 42.16 billion and is projected to reach USD 141.64 billion by 2030, growing at a CAGR of 18.9% during the forecast period (2023-2030).

Drivers & Opportunities for Market Growth

The metal casting market is primarily driven by the growing need for lightweight and durable materials, especially in automotive, aerospace, and construction end-user industries. Various casting technologies are being developed, coupled land metal casting with additive manufacturing technologies to provide significant growth opportunities to the market. Moreover, the growing EV market and renewable energy infrastructure is likely to increase the demand for certain metal cast components.

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Segmentation Analysis

The Metal Casting Market is classified on the basis of Material Type, Process, Vehicle Type and Application.

By Material Type: Ferrous and non-ferrous metals are both available in the market. Iron and steel ferrous metals can be found in many common products today, owing to their strength and utility. Non-ferrous metals are popularly used such as aluminum, copper, and zinc because they are lightweight and resistant to corrosion.

By Process: This refers to sand casting, die casting, investment casting and so on. High pressure die casting is one of the most widely used processes in the automotive industry for generating complex and lightweight components. Investment casting is widely used for critical precision parts for aerospace and medical applications.

By Vehicle Varieties: This market is advertised by various vehicle types such as passenger cars, commercial vehicles, and electric vehicles. Automotive is one of the largest end-users of metal castings, with an increasing focus on lightweight materials to enhance the fuel efficiency and performance of vehicles.

By Usage: Metal casting is used in automobile, air-crafts, construction, industrial machines, etc. In the automotive industry, cast components are used in engine blocks, transmission housings, and also structural parts. Casting is used in aerospace for turbine blades, structural frames and other vital parts.

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Regional Analysis

United States: With a strong automotive industry and high investments in aerospace and defense sectors, the US market is one of the largest markets for high-performance thermal management materials. Metal functioning market is fueled by the demand for light-weight and high-strength materials in end-use industries.

Germany: Germany has one of the largest metal casting markets in Europe, with a strong base of manufacturing, particularly in automotive and industrial machinery. This aligns with the engineering-focused innovation culture of the country and reinforces demand for advanced casting solutions.

China: The demand for metal castings is boosted by China's fast industrialization and growth of automotive and construction industries Infrastructure development and strengthening manufacturing capabilities observed by the government are also projected to propel market growth.

India: The increasing metal cast components demand in the Automotive industry and the Infra projects in India contribute to the growth of the Metallic Castings Industry. The focus on manufacturing related activities, leads to export-focused growth strategies which ultimately benefits the metal casting market.

Japan: The market in Japan owes its demand to the requirement for high-precision metal castings in the country's automotive and electronics industries. Advancements in technology, coupled with quality standards of the country, drive the metal casting industry.

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Competitor Analysis

Highly Competitive Metal Casting Market with Significant Opportunities for Innovation and Sustainability Notable companies include:

Eisenwerk Brühl GmbH: Manufacturer of quality castings for Automotive and Industrial applications.

BASF SE – Provides innovative materials & solutions for metal casting processes, improving quality, functionality and productivity.

Alcoa Corporationone of the worlds largest aluminium casters serving aerospace, automotive and industrial markets.

Nemak: Specializes in the production of aluminum cast components for the automotive industry, providing lightweight solutions

Georg Fischer AG — Offering metal casting for ductile iron and aluminum for different applications.

Such companies are devoting resources towards R&D to build better casting technologies, refinement of material property and meeting the requirements of automobile, aviation and construction sector.

Conclusion

Future Outlook Of Global Metal Casting Market Future outlook of global metal casting market using market drive and market denotation November 15, 2022 10:38 AM Driver: Proliferating Application In Various Industries With The Rise In Demand In the automotive industry, all types of components, such as engine blocks, gear boxes, and cylinder heads are produced using the metal casting process. Growing demand for lightweight, strong materials along with improvement techniques in castings offers high growth. The demand in most of the industries concentrating on efficiency and performance will be high — the metal casting industry will play a vital role in this space.

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