Global Metal Castings Market

Market Scope:

The global Metal Castings market is projected to grow significantly, registering a CAGR of 5.1% during the forecast period (2024 – 2032).

Metal castings refer to objects or components formed through the process of casting, which involves pouring molten metal into a mold and allowing it to solidify to obtain a desired shape. The casting process can take various forms, including sand casting, investment casting, die casting, and more. Metal castings are utilized in a wide range of industries to produce complex and intricately shaped parts that may be challenging or cost-prohibitive to manufacture using other methods. These castings can be made from various metals and alloys, each chosen for its specific properties, such as strength, durability, heat resistance, or corrosion resistance. Metal castings are extensively used in automotive manufacturing for components like engine blocks, transmission cases, and suspension parts. Precision metal castings are crucial for aircraft engine parts, landing gear components, and structural elements in the aerospace and defense sectors. Metal castings find applications in construction for items like manhole covers, pipe fittings, and structural supports. Castings are used in the energy sector for turbine components, pump casings, and other parts critical to power generation. Various industrial machinery and equipment utilize metal castings for components such as housings, brackets, and gears.
Market Overview:
Driver: Increasing demand for aerospace and defense applications is driving the market growth.

Metal castings are used in the aerospace and defense industries for manufacturing components like aircraft engine parts, landing gear components, and structural elements. Innovations and advancements in these sectors impact the demand for precision metal castings. Metal castings are commonly used to manufacture turbine blades in aircraft engines. The casting process allows for the production of blades with complex shapes and precise aerodynamic profiles, contributing to engine efficiency. Certain parts of aircraft engine housings, such as casings and shrouds, are often produced through metal casting. The ability to create intricate designs and ensure material strength is crucial in these components. Metal castings are utilized in the production of landing gear components, including housings and brackets. The casting process allows for the creation of durable and high-strength components capable of withstanding the stresses of landing and takeoff. Parts of aircraft landing gear wheels, such as hubs and rims, may also be manufactured using metal casting techniques to meet specific design and performance requirements.

Opportunities: Growing demand for automotive sector is anticipated for the market growth in the upcoming years

The automotive industry is a major consumer of metal castings, utilizing them in components like engine blocks, cylinder heads, transmission cases, and various other parts. The demand for metal castings is closely tied to the production and innovation within the automotive sector. Engine blocks are commonly made using cast iron or aluminum. Metal casting processes, such as sand casting or die casting, are employed to create these large and intricate components that form the foundation of the engine. Cylinder heads, which cover the top of the engine cylinders, are also often produced through casting. They play a crucial role in sealing the combustion chamber and housing various engine components. The transmission case, which houses the gears and other transmission components, is often manufactured using metal casting processes. The durability and precision required for these components make metal casting an ideal manufacturing method. Various suspension components, including control arms, knuckles, and brackets, are often produced through metal casting. These components require strength and reliability, making metal casting an appropriate manufacturing method.
Covid Impact:
The metal castings industry, like many manufacturing sectors, experienced disruptions in supply chains due to lockdowns, travel restrictions, and closures of production facilities. Interruptions in the supply chain affected the availability of raw materials, casting molds, and other essential components. Certain sectors that heavily rely on metal castings, such as automotive and aerospace, saw a decline in demand during the initial phases of the pandemic. Shutdowns of manufacturing plants, reduced consumer spending, and a slowdown in construction activities contributed to a temporary decrease in demand for metal castings. Construction projects, which are major consumers of metal castings, faced delays or cancellations due to the pandemic. The uncertainty surrounding the economy led to a cautious approach in initiating new construction and infrastructure projects, affecting the demand for metal cast components. Many metal casting foundries and manufacturing facilities faced operational challenges, including workforce shortages, social distancing requirements, and health and safety concerns. Some facilities had to temporarily shut down or operate at reduced capacity, impacting production volumes. The global economic slowdown resulting from the pandemic had ripple effects on industries worldwide. Reduced economic activity, disrupted trade, and financial uncertainties affected the overall demand for goods and, consequently, the demand for metal castings. Changes in consumer behavior, such as a shift towards online shopping and remote work, influenced the demand for certain products. Industries associated with these changes experienced shifts in demand for specific metal casting applications. The pandemic prompted companies to reassess their operations and focus on resilience and efficiency. Some metal casting facilities explored technological advancements, automation, and digital solutions to enhance operational efficiency and adapt to the evolving business landscape.
Segmentation Analysis:
Iron segment is anticipated to grow significantly during the forecast period

The growth in the Iron segment suggests an increased demand for iron-based products. Iron castings, which are produced by pouring molten iron into molds, are used in a wide range of applications, including construction, automotive, machinery, and infrastructure. The higher demand for iron products may result in a parallel increase in the demand for iron castings. Iron castings find extensive use in construction and infrastructure projects for components such as manhole covers, drainage grates, pipe fittings, and structural elements. The growth in the Iron segment can be indicative of increased construction activities, driving the demand for iron castings in these applications.

The Building & Construction segment is anticipated to grow significantly during the forecast period

Metal castings are utilized in the construction of various architectural components, such as decorative elements, ornamental fixtures, and structural elements. The growth in the Building & Construction segment may lead to an increased demand for aesthetically pleasing and durable metal castings for architectural purposes. Metal castings play a vital role in the construction of structural components, building hardware, and infrastructure elements. This includes items like pipe fittings, valve bodies, hinges, brackets, and other components that contribute to the overall stability and functionality of buildings. The growth in construction activities can drive the demand for these cast metal products. The construction of new infrastructure projects, such as bridges, roads, tunnels, and utility installations, often requires a variety of metal castings. These cast components are used in critical applications like manhole covers, drainage systems, and support structures. The growth in the Building & Construction segment can lead to increased demand for metal castings in these infrastructure projects.
Regional Analysis:
The Asia Pacific region is set to witness significant growth during the forecast period.

The Asia Pacific region, particularly countries like China, India, and Southeast Asian nations, is undergoing rapid industrialization and infrastructure development. As construction projects, manufacturing facilities, and infrastructure projects expand, there is an increased demand for metal castings used in various applications, including construction, machinery, and transportation. The automotive industry is a significant consumer of metal castings, utilizing them for engine components, transmission parts, chassis components, and more. The Asia Pacific region is a major hub for automotive manufacturing, and the growth of this sector contributes to the increased demand for metal castings. The Asia Pacific region is home to diverse manufacturing activities across industries such as aerospace, energy, electronics, and consumer goods. Metal castings find applications in numerous manufacturing processes, driving the demand for cast metal products. With a rising population and urbanization, there is a continuous demand for construction materials and components. Metal castings are used in the construction sector for items like pipes, fittings, and structural components. The ongoing construction boom in the region contributes to the growth of the metal casting industry. Large-scale infrastructure projects, including the development of smart cities and megacities, create a substantial demand for metal castings. These projects require a variety of metal components, from intricate decorative elements to robust structural parts.
Competitive Analysis:
The global Metal Castings market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

POSCO

• In November 2023, POSCO announced that two of its steel plants, located in Pohang and Gwangyang, have achieved certification for their commendable contributions towards fostering a sustainable future for the steel industry. This remarkable accomplishment underscores the plants' steadfast commitment and effective management in promoting environmental, social, and corporate governance (ESG) objectives.

Dynacast

Arconic

Ryobi Limited

Endurance Technologies Limited

• Endurance Technologies Limited successfully acquired the Italian car parts company Grimeca Srl in June 2020. Endurance declared in a filing with the stock exchange that it has acquired a 100% ownership position in Grimeca for 2.25 million Euros, or roughly $2.45 million USD.

Alcast Technologies

UNI Abex

MES, Inc.

CALMET

Hitachi, Ltd.
Scope of the Report
By Material

• Iron
• Steel
• Aluminum
• Other Materials

By Application

• Automotive & Transportation
• Industrial
• Building & Construction
• Others

By Region

• North America (the United States & Canada)
• Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
• Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, and Latin America)

Key reason to purchase this report

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Metal Castings market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Metal Castings submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.