Press release
Stable Economic Growth Fuels Expansion In The Foundries Market: A Significant Driver Propelling The Foundries Market In 2025
Foundries
How Big Is the Foundries Market Size Expected to Be by 2034?
Over the past few years, the foundries market has witnessed substantial growth. It is projected to expand from $190.81 billion in 2024 to $201.64 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The notable growth during the historic period is largely due to factors such as the demand in the automotive and aerospace industries, the development of construction and infrastructure, consumer goods manufacturing, the needs of the energy sector, and the globalization of supply chains.
Expectations are that the foundries market's size will grow consistently in the coming years, reaching an estimated $238.17 billion in 2029 with a 4.2% compound annual growth rate (CAGR). Contributing factors to this projected growth within the forecast period may include the switch to electric vehicles (evs), renewable energy infrastructure projects, developments in material science, tighter environmental regulations, and the offering of customization and prototyping services. Furthermore, major predicted trends for this period include the application of digital twin technology, advancements in casting methodologies, advanced casting technologies, the digitization and intelligence of foundries, as well as a heightened demand for lighter materials.
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What Are the Emerging Segments Within the Foundries Market?
The foundries market covered in this report is segmented -
1) By Type: Ferrous Metal Foundries, Nonferrous Metal Foundries
2) By Foundry Type: Pure Play Foundry, Integrated Device Manufacturers
3) By Application: Automobile, Pipes and Fittings, Agricultural Machinery, Electrical Equipment, Machine Tools, Other Applications
Subsegments:
1) By Ferrous Metal Foundries: Gray Iron Foundries, Ductile Iron Foundries, Cast Iron Foundries, Steel Foundries
2) By Nonferrous Metal Foundries: Aluminum Foundries, Copper Foundries, Zinc Foundries, Magnesium Foundries, Other Nonferrous Foundries
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What Long-Term Drivers Are Shaping Foundries Market Trends?
Many developed and developing countries are projected to have steady economic growth, thereby stimulating the expansion of the foundries' market. For example, the World Bank reports that China's gross domestic product (GDP) increased to $17.94 trillion in 2022, up from $17.82 trillion the previous year. In addition, India's GDP saw a rise of 8% - 8.5% in 2022-2023 and 9.2% in 2021-2022. Anticipated stable growth is also expected in developed economies during the projection period. Furthermore, the growth rate for emerging markets in the forecasted period is predicted to slightly surpass that of developed markets. This consistent economic growth is likely to boost investments in end-user markets, which in turn will propel the foundries market throughout the forecast period.
Who Are the Top Competitors in Key Foundries Market Segments?
Major companies operating in the foundries market include General Foundries Inc., Waupaca Foundry Inc., Neenah Foundry Company, Gibbs Die Casting Corporation, Precision Castparts Corp., Hitachi Metals Ltd., DONGGUAN ALFA METAL WORKSHOP CO. LTD, Ryobi Limited, Grede Foundries Inc., Georg Fischer Ltd., Alcoa Corporation, Reliance Foundry Co. Ltd., Brukar Inc., John Winter & Co Ltd, Cifunsa Foundry, MetalTek International, Bharat Forge Ltd., Walbro LLC, Wescast Industries Inc., Nemak S.A.B. de C.V., Consolidated Metco Inc., Howmet Aerospace Inc., Cadillac Casting Inc., Harrison Steel Castings Company, Zollern GmbH & Co. KG, Brembo S.p.A., Eck Industries Inc., Hubbardton Forge
What Are the Latest Developing Trends in the Foundries Market?
During the projection period, the worldwide foundries market growth was hindered by price fluctuations in steel, nonferrous metals, and other metals. The Fabricator, a leading US industry publication for metal forming and fabricating, issued a report in May 2023 stating that despite a sharp price increase in Q1 2023, 65% of those surveyed anticipate prices will stabilize in July, August, or thereafter. This price instability made it challenging for firms to establish consistent contracts for raw material purchases, consequently impeding the expansion of the foundries market.
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Which Regions Are Becoming Hubs for Foundries Market Innovation?
Asia-Pacific was the largest region in the foundries market in 2024. Western Europe was the second-largest region in the foundries market. The regions covered in the foundries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Foundries Market?
2. What is the CAGR expected in the Foundries Market?
3. What Are the Key Innovations Transforming the Foundries Industry?
4. Which Region Is Leading the Foundries Market?
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Summary:
The Foundries Market from The Business Research Company, offers a sales Strategies, growth analysis, size, segmentation, geographies, forecast and much more.
Foundries Market Characteristics:
The Foundries market consists of sales of lime and gypsum products by entities (organizations, sole traders and partnerships) manufacturing lime from calcitic limestone or other calcareous materials, such as coral, chalk and shells and manufacturing gypsum products such as wallboard, plaster, plasterboard, molding, ornamental moldings, statuary, and architectural…
