Metal Casting Market size is set to grow by USD 12.15 bn from 2024-2028, growing adoption of x-ray casting increases efficiency in defect recognition to boost the market growth, Technavio

NEW YORK, May 20, 2024 /PRNewswire/ -- The global metal casting market size is estimated to grow by USD 12.15 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.22% during the forecast period. 

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Key Market Trends Fueling Growth

The metal casting market experiences significant growth due to advancements in X-ray technology, specifically automatic or assisted defect recognition systems. These systems, which use digital radiography technology, contribute to waste minimization, production of lightweight yet strong parts, and cost-effectiveness. Applications span various industries, including automotive, where the demand for recyclable materials and lightweight vehicles drives aluminum casting. Key materials, such as carbon, silicon, manganese, phosphorus, and sulphur, are melted and shaped into components like machines' pipes, gearbox cases, cylinder heads, and engine oil pans. Casting processes, including Die Casting, Shell Mold Casting, Gravity Casting, Vacuum Casting, sand casting, and blowers, benefit from these advancements. Additionally, wear-resistant parts like bearings, cams, gears, valves, screw nuts, wire rod, electrical sheets, and stainless steel are produced, adhering to regulations in various industries.

Regional Analysis

• In the geographic landscape of the APAC region, the metal casting market maintains its prominence as a global manufacturing hub, particularly in sectors such as oil & gas, aerospace, railroad, healthcare, mining, and automotive. The use of advanced technologies, including die metal casting and 3D printing, is transforming the industry. Traditional casting methods like sand mold and die casting continue to dominate, with regulations ensuring the use of recyclable materials and lightweight vehicles. Aluminum casting, utilizing cut-out moulds and 3D metal shaping, is gaining popularity due to its lightweight, strong parts, and cost-effectiveness. Cast iron and grey iron metal remain essential in various applications, with wear resistance and melting point being crucial factors. Key materials like carbon, silicon, manganese, phosphorus, and sulphur are integral to the casting process. Flexible designing, rapid prototyping, and waste minimization are essential for maintaining competitiveness. Metal casting suppliers cater to diverse industries, producing components for lamp poles, bus pedals, train wheels, vehicle parts, machines, pipes, gearbox cases, and cylinder heads.

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Segment Overview 

This metal casting market report extensively covers market segmentation by

1. End-user 
• 1.1 Automotive
• 1.2 Industrial machinery
• 1.3 Aerospace and defense
• 1.4 Others
2. Material 
• 2.1 Aluminum
• 2.2 Cast iron
• 2.3 Magnesium
• 2.4 Zinc
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Automotive- The global metal casting market experiences significant growth in the automotive sector, driven by the production of lightweight, maneuverable, and cost-effective components. Die casting, including Zinc and Aluminum die casting, is a prominent method used in automotive manufacturing. Other casting techniques, such as Shell Mold Casting, Gravity Casting, Vacuum Casting, and Sand Casting, are also employed in the production of various automotive parts, including blowers, bearings, cams, engine oil pans, gears, valves, screw nuts, and wire rods. Recyclable materials, like aluminum and cast iron (Grey iron metal), are utilized in the casting process to meet the increasing demand for sustainable and lightweight vehicle components. Regulations governing the use of specific metals and alloys in automotive manufacturing, such as stainless steel, further expand the market scope. Die casting, 3D metal shaping, and even 3D printing, are employed in the production of complex components like lamp poles, bus pedals, train wheels, and various vehicle parts. The metal casting industry caters to diverse sectors, including oil & gas, aerospace, railroad, healthcare, mining, and more, with die metal casting and flexible designing enabling rapid prototyping and innovation. Silicone and both metal and plastic materials are also used in casting processes to cater to the evolving needs of various industries.

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Research Analysis

The Metal Casting Market encompasses various processes, including die-casting and sand molding, for producing lightweight vehicles' components using recyclable materials such as aluminum and grey iron metal. Regulations mandate the use of cut-out moulds for 3D metal shape fabrication, ensuring flexible designing and waste minimization. Aluminum casting, a key process, offers strong parts with cost-effectiveness. Silicone and metal are commonly used in sand casting for lamp poles manufacturing. Rapid prototyping through 3D printing enhances innovation, while the use of plastic and sand in metal casting processes contributes to the industry's growth. Overall, the Metal Casting Market focuses on producing lightweight, strong parts with cost-effectiveness and adherence to regulations.

Market Research Overview

The Metal Casting Market encompasses the production of various metals through the process of casting. This involves pouring molten metal into a mold, which is then allowed to solidify and form the desired shape. The Metal Casting Market is driven by the demand for metals in various industries, including automotive, construction, and engineering. The process of metal casting is versatile, allowing for the production of complex shapes and large quantities. The use of advanced technologies, such as investment casting and sand casting, enhances the efficiency and precision of metal casting. The market for metal casting is expected to grow due to the increasing demand for metals in various sectors and the continuous advancements in casting technologies. The Metal Casting Market offers significant opportunities for growth and innovation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• 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

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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