Metal Casting Market Overview, Manufacturing Cost Structure Analysis, Growth Opportunities & Restraints to 2024

14/nov/2019 09:36:20 Tejas Amale Contatta l'autore

Market Research Future Published a Research Study on Metal Casting Market Research Report, Size, Share and Industry Analysis - Forecast to 2024

Metal Casting Market: Highlights

The Global Metal Casting Market is projected to be valued at USD 352.65 Billion by the end of 2024 and exhibit a healthy CAGR of 7.55% during the forecast period.

The growth of the global metal casting market is primarily driven by the high demand for automobile components such as sensor and airbag housings wheels, engine components, heads, blocks, and hoods. The increasing automobile production in the developing economies on account of increased spending coupled with rising per capita disposable income of consumers is driving the growth of the automotive industry, which is likely to fuel the demand for metal casting. Additionally, increasing environmental regulations and emission targets set by the regulatory authorities such as the European Union (EU) and US Environmental Protection Agency (EPA) to curb carbon emissions have resulted in increase in the production of lightweight, hybrid, and electric vehicles, which has fueled the demand for aluminum cast components at a significant rate.

The building & construction industry is the other major consumer for metal cast products, wherein steel and aluminum are primarily used in the manufacturing of various building parts. Steel, being a versatile, and durable metal, finds applications in ceilings, roofing, heating & cooling equipment, cladding, stairs for buildings, and rebar, plates, railway tracks, and underground pipelines. With the increase in residential and non-residential construction activities, the demand for metals such as steel and aluminum is likely to increase in the construction industry.

However, growing preference for alternative metal working process, e.g., extrusion process, is expected to be the key factor hampering the growth of the global market during the review period.

Get a Free Sample Report Now@ https://www.marketresearchfuture.com/sample_request/8114

Key Players

MRFR recognizes the following companies as the key players in the global metal casting market—Georg Fischer Ltd (Switzerland), Endurance Technologies Limited (India), Dynacast (US), Ryobi Limited (Japan), GIBBS (US), Precision Castparts Corp (US),  Alcast Technologies (Canada), Ahresty Wilmington Corporation (US), Reliance Foundry Co. Ltd (Canada), and FORCEBEYOND (US), among others.

Key Findings of the Study

  • Global metal casting market is projected to reach over 149,079.0 kilotons by 2024 with a CAGR of over 6.5% during the forecast period of 2019–2024.
  • Asia-Pacific accounted for the largest market share owing to the increasing demand for sand casting and die-casting in the automotive and building & construction industries.
  • The cast iron segment dominated the market with a share of 72% of the global market in 2018 and is expected to be valued at over USD 202.7 billion by the end of 2024
  • The sand casting segment held the largest market share of around 54% in 2018 and is estimated to reach approximately USD 352.6 billion by the end of 2024.
  • The automotive & transportation industry is estimated to be the dominant end-use industry segment in the global metal casting market during the forecast period.

Segment Analysis

The global Metal Casting Market has been segmented on the basis of material type, process, end-use industry, and region.

On the basis of material type, market segmentation, accounting for a share of over 60% of the market in 2018 and projected to register at CAGR of 6.70% during the review period. Cast iron is being used in various applications including engine blocks, gas burners, manifolds, housings, enclosures, railroad brake shoes, automobile door hinges, hydraulic components, sprockets, connecting rods, and farm & construction machinery. The most common use is the growth of the segment.

By process, the market has been divided into sand casting, die casting, casting mold casting, gravity casting, vacuum casting, and others. Sand casting is the most widely used metal casting process, such as engine blocks, impellers, manifolds, support beams, cylinder heads, machine tool bases, pump housings, and valves.

Browse Key Industry insights spread across 253 pages with 346 market data tables & 25 figures and charts from the Report,  “Metal Casting Market: Information by Material Type (Cast Iron, Aluminum, Stainless Steel, Zinc and Magnesium), Process (Sand Casting, Die Casting, Shell Mold Casting, Gravity Casting and Vacuum Casting), End-Use Industry (Automotive & Transportation, Building & Construction, Mining, Equipment & Machine and Consumer Goods) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast till 2024 ”  in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/metal-casting-market-8114

Based on end-use industry, the global market has been segmented into automotive & transportation, building & construction, mining, equipment & machine, consumer goods, and others. The automotive & transportation industry has the largest share of the market, in which various complex-shaped and manufactured components are using metal casting. A wide range of automobile components including structural components (front end carriers, body frames, door frames, seat frames, and tank frames), engine parts (cylinder heads, engine brackets, engine blocks), and transmission components (shafts, housings , chassis, and carriers) are manufactured using metal casting. The automotive & transportation segment is further segmented into gearbox, wheels, engine blocks, cylinder head, exhaust manifold, seat frame, and others. The largest share in the cylinder head segment2018 .

blog comments powered by Disqus
Comunicati.net è un servizio offerto da Factotum Srl