Press release
Metal Casting Market to Reach USD 141.64 Bn by 2030 with 18.9% CAGR
Metal Casting Market
The global metal casting market is experiencing substantial expansion, driven by increasing demand across various industries, including automotive, aerospace, and construction. Valued at approximately USD 42.16 billion in 2023, the market is projected to reach nearly USD 141.64 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 18.9% during the forecast period.
๐๐๐ญ๐๐ฅ ๐๐๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
Metal casting involves pouring molten metal into molds to create components with intricate geometries, offering cost-effective solutions for medium to large-scale production. Materials commonly used in metal casting include grey iron, ductile iron, aluminum, steel, copper, and zinc. The versatility and efficiency of metal casting make it indispensable in manufacturing a wide range of products, from household appliances to critical components in the automotive and aerospace sectors.
๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ฆ๐ฆ๐๐๐ข๐๐ญ๐๐ฅ๐ฒ: https://www.maximizemarketresearch.com/request-sample/1613/
๐๐๐ญ๐๐ฅ ๐๐๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐ฅ๐ฅ๐ค๐ง๐ฉ๐ช๐ฃ๐๐ฉ๐๐๐จ ๐๐ฃ ๐๐๐๐ฉ๐ฃ๐๐ข
Vietnam's metal casting market is projected to exhibit a growth rate (CAGR) of 8.90% during 2024-2032. This growth is driven by advancements in casting technologies that improve efficiency, reduce production costs, and enhance the quality of cast metal products.
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐๐ฃ ๐๐๐๐๐ก๐๐ฃ๐
Thailand's metal casting industry is witnessing increased investments aimed at modernizing foundry operations and expanding production capacities. These initiatives are expected to enhance the country's manufacturing capabilities and meet the growing demand for high-quality cast products in the automotive and construction sectors.
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐๐ฃ๐๐จ ๐๐ฃ ๐ ๐๐ฅ๐๐ฃ
Japan continues to be a leader in adopting advanced casting technologies, focusing on precision and efficiency. The integration of automation and robotics in foundries is enhancing production capabilities, catering to the high standards of the automotive and electronics industries.
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐พ๐ค๐ฃ๐จ๐ค๐ก๐๐๐๐ฉ๐๐ค๐ฃ ๐๐ฃ ๐๐ค๐ช๐ฉ๐ ๐๐ค๐ง๐๐
South Korea's metal casting market is experiencing consolidation, with key players engaging in mergers and acquisitions to strengthen their market position. This trend is expected to enhance competitiveness and drive innovation in the industry.
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐ฅ๐๐๐ฉ๐๐ค๐ฃ ๐๐ฃ ๐๐๐ฃ๐๐๐ฅ๐ค๐ง๐
Singapore is focusing on updating its metal casting industry by adopting sustainable practices and advanced technologies. The emphasis on environmental sustainability and efficiency is positioning Singapore as a hub for high-quality metal casting services in the region.
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐ฅ๐ฅ๐ค๐ง๐ฉ๐ช๐ฃ๐๐ฉ๐๐๐จ ๐๐ฃ ๐ฉ๐๐ ๐๐ฃ๐๐ฉ๐๐ ๐๐ฉ๐๐ฉ๐๐จ
The U.S. metal casting market is poised for growth, driven by increasing demand from the automotive and aerospace sectors. Investments in research and development are leading to innovations in casting processes, enhancing product quality and production efficiency.
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐ค๐ฌ๐ฉ๐ ๐๐ฃ ๐พ๐๐๐ฃ๐
China's metal casting market is expanding rapidly, supported by the country's large manufacturing base and demand from various industries. The focus on producing lightweight and high-strength components is driving the adoption of advanced casting technologies.
๐๐๐ฉ๐๐ก ๐พ๐๐จ๐ฉ๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐ง๐๐ฃ๐๐จ ๐๐ฃ ๐๐ช๐ง๐ค๐ฅ๐
Europe's metal casting industry is characterized by a focus on sustainability and technological innovation. The adoption of eco-friendly materials and processes is aligning with stringent environmental regulations, ensuring the industry's growth and compliance.
๐๐จ ๐๐๐๐๐ฌ๐ฌ ๐ฆ๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐ซ๐๐ ๐๐ซ๐๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฏ๐ข๐ฌ๐ข๐ญ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฐ๐๐๐ฉ๐๐ ๐: https://www.maximizemarketresearch.com/request-sample/1613/
๐๐๐ญ๐๐ฅ ๐๐๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ฒ ๐๐ซ๐จ๐๐๐ฌ๐ฌ
Gravity Casting
High-Pressure Die Casting (HPDC)
Low-Pressure Die Casting (LPDC)
Sand Casting
๐๐ฒ ๐๐๐ญ๐๐ซ๐ข๐๐ฅ ๐๐ฒ๐ฉ๐
Aluminium
Cast iron
Magnesium
Zinc
Others
The market is divided into several segments based on the kind of material, including aluminium, cast iron, magnesium, zinc, and others. With 70.2% of the total volume, the iron casting category held the largest market share in 2023. The bulk of demand in this sector is anticipated to come from emerging markets, especially in the oil & gas, construction, and automotive industries. It is probable that investors will continue to prioritise completed casting products. The MMR study states that the production of iron casting increased by 0.11 percent in 2023 compared to 2021.
๐๐ฒ ๐๐๐ก๐ข๐๐ฅ๐ ๐๐ฒ๐ฉ๐
BEV
HEV
PHEV
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Automotive & transportation
Industrial
Building & construction
Others
The market is divided into several segments based on application, including automotive and transportation, industrial, building and construction, and others. The automotive and transportation category is anticipated to expand at a compound annual growth rate (CAGR) of 5.4% in 2023. Global auto manufacturing has been steadily increasing, if slowly, during the past few years. 2023 saw a 2.5% growth in global automotive production, according to the International Organisation of Motor Vehicle Manufacturers. For automakers and market vendors, using aluminium to reduce weight will remain a crucial component.
๐๐จ ๐๐ข๐ง๐ ๐ฆ๐จ๐ซ๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐ฏ๐ข๐ฌ๐ข๐ญ: https://www.maximizemarketresearch.com/request-sample/1613/
๐๐๐ญ๐๐ฅ ๐๐๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
North America
1. Nemak
2. Dynacast
3. Mino Industrial
4. Aisin Automotive Casting
5. Gibbs Die Casting
6. FORCEBEYOND
7. Reliance Foundry Co. Ltd
Europe
8. Rheinmetall Automotive
9. Georg Fischer Ltd
10. Marimex - M. Ivanov
11. ArcelorMittal SA,
12. Bรผhler AG
Asia-Pacific
13. Ryobi Limited
14. Ahresty Corporation
15. Endurance
16. Tycon Alloy Industries (HongKong)
17. TOYOTA INDUSTRIES CORPORATION
18. NINGBO INNOVAW MECHANICAL CO., LTD
19. Pyrotek
Middle East and Africa
20. Gulf Metal Foundry
21. Saanvi Founders
22. National Metal Manufacturing and Casting Company
23. Arabian FORASOL Foundation LLC
South America
24. Fundiรงรฃo Regali Brasil
25. Industrias Ascheri & Cia.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐ญ๐ซ๐๐ง๐๐ข๐ง๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ซ๐จ๐ฆ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐ญ๐ก๐๐ญ ๐๐ซ๐ ๐ฆ๐๐ค๐ข๐ง๐ ๐ฐ๐๐ฏ๐๐ฌ:
Edible Insects Market https://www.maximizemarketresearch.com/market-report/global-edible-insects-market/99518/
Global Carotenoids Market https://www.maximizemarketresearch.com/market-report/global-carotenoids-market/21363/
Global Confectionery Market https://www.maximizemarketresearch.com/market-report/confectionery-market/145910/
Butter Market https://www.maximizemarketresearch.com/market-report/butter-market/148628/
Pasta Market https://www.maximizemarketresearch.com/market-report/pasta-market/125484/
Global Acetylcarnitine Market https://www.maximizemarketresearch.com/market-report/global-acetylcarnitine-market/98314/
Organic Chocolate Market https://www.maximizemarketresearch.com/market-report/organic-chocolate-market/220851/
Organic Cheese Market https://www.maximizemarketresearch.com/market-report/organic-cheese-market/220871/
Organic Baby Food Market https://www.maximizemarketresearch.com/market-report/organic-baby-food-market/221143/
Oryzenin Market https://www.maximizemarketresearch.com/market-report/oryzenin-market/217548/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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