Product Code: GVR-3-68038-298-3
Metal Casting Market Growth & Trends:
The global metal casting market size is expected to reach USD 210.40 billion by 2030, accelerating at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. Expansion of the construction sector due to infrastructure requirement and housing needs is one of the key drivers for market growth.
An increase in urbanization trend in China and India is a key factor triggering the growth of housing and infrastructure industries. Incentives and funding for first-time home buyers are triggering the growth of building & construction industry. Governments across various countries are offering incentives and funding to meet the housing needs of growing population.
For instance, the Canadian government offers a 5% incentive on the purchase of an existing house for first-time buyers. Similarly, in Germany, under the federal government initiative, around USD 13,400 is granted to first-time buyers under certain criteria. India and China are also recording an increase in industrial output, which is in turn favoring the demand for metal casting. Asia Pacific accounted for the highest volume share of 64.1% in 2018 in the market for metal casting.
Aluminum casting segment is projected to grow at the highest CAGR of 8.7% over the forecast period. As per a report by The Aluminum Association, total aluminum content in vehicles is projected to reach 256 kg per vehicle by 2025, globally. Strict regulations such as Euro 6c emission standards in the European Union are contributing to the growth of the market. It has become necessary for automakers to reduce the weight of vehicles using lightweight materials such as aluminum and magnesium.
Steel segment is anticipated to grow at a moderate CAGR on account of demand from automotive components. As per the World Steel Association, around 900 kg of steel is required per vehicle. Around 34% of steel is used in doors, panels, closures, and body structure parts. The growing usage of advanced high strength steel (AHSS) is projected to create new opportunities for metal casting vendors as it reduces the weight of a vehicle and also enhances fuel efficiency and safety. Many research institutes and private organizations are working on new grades of AHSS. These grades have capabilities to reduce the vehicle weight by 25% to 39% and help achieve 3 to 4.5 tons of greenhouse gas savings over the life cycle of a vehicle.
Metal casting industry faces various challenges including underutilization of capacity, optimization of resources, high energy consumption, stringent norms, and overall effectiveness. Metal casting manufacturers are likely to focus on industrial internet of things (IIoT) over the coming years as IIoT has the potential to control and monitor the temperature of foundries, machinery downtime tracking, and enhance resource management.
Metal Casting Market Report Highlights:
- The aluminum segment accounted for the largest revenue share of 38.3% in 2022. The major portion of the demand in this segment is projected to come from emerging markets, especially from the automotive, construction, and oil & gas sectors.
- The automotive segment held the largest revenue share of 59.5% in 2022. The global automotive production has been observing gradual yet encouraging growth in global automotive production over recent years.
- Asia Pacific dominated the market and accounted for the largest revenue share of 55.4% in 2022. Asia Pacific is characterized by the presence of skilled labor at low cost, which makes it the most lucrative region for manufacturers to set up production facilities.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Material
- 1.1.2. Application
- 1.1.3. Regional scope
- 1.1.4. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Material outlook
- 2.2.2. Application outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Metal Casting Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Value Chain Analysis
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market driver analysis
- 3.5.2. Market restraint analysis
- 3.5.3. Industry opportunities & challenges
- 3.6. Metal Casting Market Analysis Tools
- 3.6.1. Industry Analysis - Porter's
- 3.6.1.1. Supplier power
- 3.6.1.2. Buyer power
- 3.6.1.3. Substitution threat
- 3.6.1.4. Threat of new entrant
- 3.6.1.5. Competitive rivalry
- 3.6.2. PESTEL Analysis
- 3.6.2.1. Political landscape
- 3.6.2.2. Technological landscape
- 3.6.2.3. Economic landscape
- 3.6.2.4. Social landscape
- 3.6.2.5. Environmental landscape
- 3.6.2.6. Legal landscape
Chapter 4. Supplier Portfolio Analysis
- 4.1. List of Suppliers
- 4.2. Kraljic Matrix
- 4.3. Sourcing Best Practices
- 4.4. Negotiation Strategies
Chapter 5. Metal Casting: Material Estimates & Trend Analysis
- 5.1. Metal Casting Market: Key Takeaways
- 5.2. Metal Casting Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. Iron
- 5.3.1. Iron market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
- 5.4. Steel
- 5.4.1. Steel market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
- 5.5. Aluminum
- 5.5.1. Aluminum market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
- 5.6. Others
- 5.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
Chapter 6. Metal Casting: Application Estimates & Trend Analysis
- 6.1. Metal Casting Market: Key Takeaways
- 6.2. Metal Casting Market: Movement & Market Share Analysis, 2022 & 2030
- 6.3. Automotive & Transportation
- 6.3.1. Automotive & transportation market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
- 6.4. Industrial
- 6.4.1. Industrial market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
- 6.5. Building & Construction
- 6.5.1. Building & construction market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
- 6.6. Others
- 6.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
Chapter 7. Metal Casting Market: Regional Estimates & Trend Analysis
- 7.1. Regional Outlook
- 7.2. Metal Casting Market by Region: Key Takeaway
- 7.3. North America
- 7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.3.2. U.S.
- 7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.3.3. Canada
- 7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.3.4. Mexico
- 7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.4. Europe
- 7.4.1. Germany
- 7.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.4.2. UK
- 7.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.4.3. France
- 7.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.4.4. Italy
- 7.4.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.4.5. Spain
- 7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.4.6. Russia
- 7.4.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5. Asia Pacific
- 7.5.1. Japan
- 7.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5.2. China
- 7.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5.3. India
- 7.5.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5.4. Australia
- 7.5.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5.5. South Korea
- 7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5.6. Thailand
- 7.5.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5.7. Indonesia
- 7.5.7.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.5.8. Malaysia
- 7.5.8.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.6. Central & South America
- 7.6.1. Brazil
- 7.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.7. MEA
- 7.7.1. Saudi Arabia
- 7.7.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.7.2. South Africa
- 7.7.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.7.3. UAE
- 7.7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
- 7.7.4. Nigeria
- 7.7.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Kilotons)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Market Participant Categorization
- 8.2.1. POSCO
- 8.2.1.1. Company overview
- 8.2.1.2. Financial performance
- 8.2.1.3. Product benchmarking
- 8.2.1.4. Strategic initiatives
- 8.2.2. Dynacast
- 8.2.2.1. Company overview
- 8.2.2.2. Financial performance
- 8.2.2.3. Product benchmarking
- 8.2.2.4. Strategic initiatives
- 8.2.3. Arconic
- 8.2.3.1. Company overview
- 8.2.3.2. Financial performance
- 8.2.3.3. Product benchmarking
- 8.2.3.4. Strategic initiatives
- 8.2.4. Ryobi Limited
- 8.2.4.1. Company overview
- 8.2.4.2. Financial performance
- 8.2.4.3. Product benchmarking
- 8.2.4.4. Strategic initiatives
- 8.2.5. Endurance Technologies Limited
- 8.2.5.1. Company overview
- 8.2.5.2. Financial performance
- 8.2.5.3. Product benchmarking
- 8.2.5.4. Strategic initiatives
- 8.2.6. Alcast Technologies
- 8.2.6.1. Company overview
- 8.2.6.2. Financial performance
- 8.2.6.3. Product benchmarking
- 8.2.6.4. Strategic initiatives
- 8.2.7. UNI Abex
- 8.2.7.1. Company overview
- 8.2.7.2. Financial performance
- 8.2.7.3. Product benchmarking
- 8.2.7.4. Strategic initiatives
- 8.2.8. MES, Inc.
- 8.2.8.1. Company overview
- 8.2.8.2. Financial performance
- 8.2.8.3. Product benchmarking
- 8.2.8.4. Strategic initiatives
- 8.2.9. CALMET
- 8.2.9.1. Company overview
- 8.2.9.2. Financial performance
- 8.2.9.3. Product benchmarking
- 8.2.9.4. Strategic initiatives
- 8.2.10. Hitachi, Ltd.
- 8.2.10.1. Company overview
- 8.2.10.2. Financial performance
- 8.2.10.3. Product benchmarking
- 8.2.10.4. Strategic initiatives