Press release
Metal Casting Market to Grow to USD 221.3 Billion by 2032 at 5.5% CAGR
Metal Casting Market
According to Maximize Market Research, the Global Metal Casting Market was valued at USD 42.16 billion in 2023 and is projected to grow at a CAGR of 18.9% from 2024 to 2030, reaching nearly USD 141.64 billion by 2030. Growth is fueled by expanding demand for lightweight automotive components, construction applications, and industrial machinery, alongside advancements in casting processes and materials.
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Key Highlights
Market Size & Growth: USD 42.16 B (2023) → USD 141.64 B (2030), CAGR 18.9%
Dominant Material: Cast iron held 70.2% share (2023); aluminium segment forecasted to grow at 9.3% CAGR due to lightweight adoption
Applications: Automotive & transportation remains leading, growing at 5.4% CAGR; industrial accounted for 28.4% share in 2023
Regional Insights: Asia-Pacific held 65.2% share in 2023; Europe to expand at ~4.9% CAGR through 2030
Key Players: Nemak, Dynacast, Aisin Automotive Casting, Rheinmetall Automotive, Georg Fischer Ltd., Ryobi Limited, Toyota Industries Corporation, Bühler AG, ArcelorMittal SA, Endurance, and others
Body Content
Market Overview
Metal casting is a critical manufacturing process that produces durable components used across 90% of industrial goods-from automobiles and aerospace to construction and medical devices. The market, valued at USD 42.16 billion in 2023, is set to expand at 18.9% CAGR, reaching USD 141.64 billion by 2030. Key drivers include rising demand for lightweight materials, stricter emission standards, and the shift toward cost-effective mass production methods.
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Segment Insights
By Material: Cast iron continues to dominate (70.2% share, 2023), but aluminium casting is gaining traction, projected to grow at 9.3% CAGR due to demand for fuel-efficient vehicles and recyclable construction materials.
By Application: Automotive & transportation remains the largest segment, expected to grow at 5.4% CAGR, supported by global auto output recovery. Industrial uses, at 28.4% share in 2023, include valves, flanges, jet pipes, and gaskets.
Regional Insights
Asia-Pacific held a commanding 65.2% share in 2023, with China (49,400 kilotons) and India (12,055.1 kilotons) leading production. Europe, home to ~4,500 foundries (70% SMEs), is forecast to grow steadily at 4.9% CAGR, driven by demand in Germany and France.
Competitive Landscape
Key strategies include innovation in casting technologies (HPDC, LPDC, sand casting), expansion in emerging markets, and sustainability initiatives. Global leaders include Nemak, Dynacast, Rheinmetall Automotive, Georg Fischer Ltd., Ryobi Limited, Toyota Industries Corporation, Bühler AG, and others.
Quote
"The surge in demand for lightweight automotive components and recyclable materials is reshaping the global metal casting market. Innovation in aluminium and magnesium casting, along with sustainable practices, will define the industry's growth through 2030," said a Lead Analyst at Maximize Market Research.
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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