Iron Casting Market in North America 2017-2021
About Iron Casting
Iron casting is one of the oldest ferrous metals that consists of carbon, silicon, and small amounts of sulfur, manganese, and phosphorous. The different types of iron castings include gray cast iron, ductile cast iron, and malleable cast iron. Iron castings have high carbon content and are hard, brittle, more fusible, and non-malleable. They are used extensively in different applications, such as automotive, industrial machinery, infrastructure and construction machines, and power and energy.
Technavio’s analysts forecast the iron casting market in North America to grow at a CAGR of 4.07% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the iron casting market in North America for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Iron Casting Market in North America 2017-2021
Technavio recognizes the following companies as the key players in the iron casting market in North America: American Axle & Manufacturing, GIS, Hitachi Metals, and Neenah Foundry, and OSCO INDUSTRIES.
Other Prominent Vendors in the market are: Aarrowcast, ACCURIDE INTERNATIONAL, Badger Foundry, Bremen Castings, Casting Solutions, Decatur Foundry, Deere & Company, Dotson Iron Castings, Elyria Foundry Company and Hodge Foundry, Rochester Metal Products, Teksid, The Quality Castings Company, WARD MANUFACTURING, Weil-McLain, and Wescast.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is modernization in the foundry industry. Foundries are substituting the conventional molding methods with automated molding methods. They include the adoption of mechanized disamatic molding for sand molding, induction furnace for melting, and continuous casting for chemical sand binding. Stringent quality standards and benchmarks are also being practiced extensively.”
According to the report, one driver in the market is growth of the automotive industry. The automotive industry in the region is exhibiting a high growth rate backed by the increased sales of passenger and commercial vehicles. Automobile producers focus on launching new models and cars to be competent in the market. The increasing demand for vehicles in North America is one of the major driving forces behind the growth of the iron casting market in North America. Cast irons are used extensively in the automotive industry to manufacture engine parts, such as bushings, differential shell, car cylinder blocks, suspensions, steering parts like control arm shafts, brake drums, crankshafts, and heavy-duty gears.
Further, the report states that one challenge in the market is increasing demand for aluminum casting. The use of aluminum casting has been witnessing growth as it used as a substitute for iron casting, primarily for ornately detailed decorative elements. There are several features of aluminum, like lightweight, excellent resistance to corrosion, and less brittle than cast iron, which makes it increasingly preferred. Iron casting is very robust and durable when used appropriately and protected from severe exposure. Although it has been found in columns, it has not been found in structural beams because of the fact that it is stronger in compression than in tension.
American Axle & Manufacturing, GIS, Hitachi Metals, and Neenah Foundry, OSCO INDUSTRIES, Aarrowcast, ACCURIDE INTERNATIONAL, Badger Foundry, Bremen Castings, Casting Solutions, Decatur Foundry, Deere & Company, Dotson Iron Castings, Elyria Foundry Company and Hodge Foundry, Rochester Metal Products, Teksid, The Quality Castings Company, WARD MANUFACTURING, Weil-McLain, Wescast