According to the latest report by IMARC Group, titled “Metal Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the . Looking forward, IMARC Group expects the global metal casting market to grow at a CAGR of 7.60% during 2021-2026. Metal casting refers to the process in which metal parts of desired shapes are formed by pouring high-temperature molten metal into a mold made up of sand, metal or ceramic. Once the liquid metal solidifies, it is then removed from the mold to yield the cast metal product. This process is widely utilized for the production of complex shapes at a relatively affordable price point. Some of the most commonly used metal casting materials include zinc, iron, steel, magnesium, copper and aluminum. Cast metal products find various applications across numerous industry verticals, including mining, aerospace, construction, defense and automotive.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Metal Casting Market Trends:
The market is primarily driven by the significant growth across the end use industries. On account of inflating disposable income levels and improving living standards, there has been an increasing demand for vehicles across the globe, especially in developing economies. Since steel cast is extremely durable and flexible while offering improved weldability at high temperatures, the increasing adoption rates of lightweight automotive materials has bolstered the demand for steel casting. Moreover, metal casting is widely utilized by the construction industry on account of its recyclability. Rapid urbanization and population growth, along with the expansion of residential, commercial and industrial sectors, have provided a boost to construction activities on the global level. Furthermore, technological advancements in the production process, along with extensive research and development (R&D) activities undertaken by several market players are also contributing to the market growth. For instance, the helium-assisted sand casting of aluminum alloys is gaining widespread preference as the process produces castings that have relatively improved tensile as well as yield strength with no significant increase in the overall cost. Stringent regulations mandating the use of energy-efficient materials in the automotive industry and the advent of simulation-based castings are some of the other factors providing a thrust to the market.
Explore Full Report with TOC & List of Figure:
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- NEMAK SAB de CV
- GF Casting Solutions AG
- Dynacast Ltd.
- Ryobi Limited
- Rheinmetall Automotive AG
- Endurance Technologies Limited
- Ahresty Corporation
- Gibbs (Koch Enterprises Inc.)
- Aisin Automotive Casting, LLC
- MINO Industry USA, Inc.
- Thyssenkrupp AG
- Toshiba Machine Co., Ltd
Breakup by Process:
- Gravity Casting
- High-Pressure Die Casting (HPDC)
- Low-Pressure Die Casting (LPDC)
- Sand Casting
Breakup by Material Type:
- Aluminum
- Cast Iron
- Magnesium
- Zinc
- Others
Breakup by Components:
- Alloy Wheel
- Battery Housing
- Clutch Casing
- Cross Car Beam
- Crank Case
- Cylinder Head
- Others
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Breakup by Electric and Hybrid Type:
- Hybrid Electric Vehicles (HEV)
- Plug-In Hybrid Electric Vehicles (PHEV)
- Battery Electric Vehicles (BEV)
Breakup by Application:
- Body Assemblies
- Engine Parts
- Transmission Parts
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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