Metal Casting Market Size to grow by USD 12.15 billion between 2024-2028
According to a research report “ Metal Casting Market” by End-user (Automotive, Industrial machinery, Aerospace and defense, Others) Material (Aluminum, Cast iron, Magnesium, Zinc, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 12.15 billion, at a CAGR of 6.22% during the forecast period. In the metal casting industry, the implementation of Automatic or Assisted Defect Recognition (ADR) systems in X-ray applications has become increasingly prevalent. The ongoing advancements in X-ray technology, including upgraded tubes and software equipped with enhanced algorithms, have fueled the demand for this technology in production processes. Inline ADR systems, which make Accept or Reject decisions based on quality engineer-defined parameters, are a staple in manufacturing. These systems ensure reliable and consistent performance, documenting results independently and without human intervention. Digital radiography technology, widely adopted across various end-user markets, offers significant opportunities for software tool development within the metal casting sector..
Browse market data tables, figures, and in-depth TOC on “Metal Casting Market” by End-user (Automotive, Industrial machinery, Aerospace and defense, Others) Material (Aluminum, Cast iron, Magnesium, Zinc, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the Automotive segment is projected to dominate the market size in 2024
The automotive sector presents significant growth prospects for the global metal casting market. Casting processes are instrumental in manufacturing lightweight, agile, and cost-effective automotive components. Zinc and aluminum are the preferred metals for casting applications in the automotive industry, owing to their strength-to-weight ratio and ease of use. Ferrous and non-ferrous metals, along with their alloys, are extensively utilized in casting engine blocks, brakes, and other automotive components. Notable casting techniques for automotive components include zinc die casting and aluminum die casting. The expanding automotive industry, fueled by factors such as low-interest rates and affordable fuel prices, is anticipated to witness a surge in vehicle production during the forecast period, thereby driving the demand for metal casting solutions.
By Material, Aluminum segment is expected to hold the largest market size for the year 2024
The aluminum segment holds a pivotal role in the global metal casting market, given its extensive utilization across various industries due to its desirable properties. Notably, in the automotive sector, aluminum is a preferred material for metal casting processes, including die casting and sand casting, owing to its high strength-to-weight ratio, corrosion resistance, excellent thermal conductivity, and good machinability. These advantages make aluminum an indispensable component in automotive manufacturing.
APAC is forecasted to hold the largest market size by region in 2024
The Asia-Pacific region is anticipated to remain the global leader in manufacturing, driven by investments in advanced technologies and sustainable practices. To enhance productivity and reduce environmental footprints, manufacturers are adopting automation and clean technologies. The integration of Industry 4.0, which digitizes the manufacturing value chain, is a significant trend in Asia. The chemical manufacturing sector in the region is outperforming the global average, delivering impressive returns on investment. The robust growth of the manufacturing sector is underpinned by domestic demand for goods and continuous enhancements in regional manufacturing facilities.
The Metal Casting Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Metal Casting Market is witnessing significant growth due to the increasing demand for strong and lightweight parts in various industries. Cost-effectiveness is a key factor driving the market, as metal casting offers an economical solution for producing large, complex parts with high strength-to-weight ratios. Waste minimization is another advantage, as metal casting processes like sand casting and die casting allow for the use of recyclable materials, such as aluminum and Gray iron metal. Rapid prototyping and flexible designing are also driving the market, with 3D printing and 3D metal shaping enabling the creation of intricate designs for applications in industries like automotive and construction. Lightweight vehicles, in particular, are a growing market for metal casting, with regulations pushing for reduced emissions and increased fuel efficiency. Materials used in metal casting include sand, plastic, metal, silicone, and recycled materials. Common metal casting processes include sand molding, die casting, and 3D printing. Applications range from lamp poles and cut-out molds to complex aluminum and cast iron components. The market is expected to continue growing, with advancements in technology leading to further improvements in cost-effectiveness, waste minimization, and design flexibility.
Market Research Overview
The Metal Casting Market encompasses a wide range of industries and applications, including stainless steel, electrical sheets, wire rod, screw nuts, valves, gears, engine oil pans, cams, bearings, blowers, and more. Stainless steel is a popular choice due to its wear resistance and high melting point. Other materials used in metal casting include sulphur, phosphorus, manganese, silicon, and carbon. Several casting techniques are used in the market, such as Sand Casting, Vacuum Casting, Gravity Casting, Shell Mold Casting, Die Casting, and Die Metal Casting. These techniques cater to various industries like mining sectors, healthcare, railroad, aerospace, oil & gas, and automotive. Parts like cylinder heads, gearbox cases, pipes, machines, train wheels, bus pedals, lamp poles, and 3D metal shapes are commonly produced using these techniques. Lightweight materials like aluminum and recyclable ones are increasingly being used for cost-effectiveness and waste minimization. Advancements in technology have led to rapid prototyping, flexible designing, and 3D printing in metal casting. Regulations play a crucial role in the market, with stringent norms for industries like automotive and aerospace. Grey iron metal and cast iron are also used extensively in various applications due to their properties. Overall, the Metal Casting Market is a dynamic and evolving industry that caters to diverse needs and applications.
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