About Metal Casting
Metal Casting is majorly involved in the manufacture of durable goods and machinery. Casting is an efficient way to make complex metal shapes. Metal Casting is the process of pouring molten metal into a mold to create a 3D metal part. This is majorly utilized in industries such as automotive, medical, electronics, aerospace, and plant machinery. The advantages offered by metal casting include cost-effectiveness, speed, and product quality, recyclability. Owing to the increase in demand for high-quality and complex industrial products coupled with the unavailability of alternate manufacturing processes, there has been a growing requirement for metal casting. Increasing adoption of electric vehicle that uses lightweight material is also contributing significantly to the utilization of metal casting in industrial processes.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Various large and small industry players participate extensively in metal casting value chain phases. By upgrading their recycling capabilities and environmentally sustainable approaches, major companies are cultivating their position in the market. With the increase in the adoption of automation and environment-friendly initiatives, many companies form strategic partnerships to gain a competitive advantage and market share and to establish a robust market presence. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Metal Casting market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
POSCO (South Korea), Dynacast (United States), Arconic (United States), Ryobi Limited (Japan), Endurance Technologies Limited (India), Alcast Technologies (Canada), UNI Abex (India), Reliance Foundry Co. Ltd. (Canada), CALMET (United States) and MES, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Waupaca Foundry Inc. (United States), Eastern Metal Supply, Inc. (United States), Impro Industries USA, Inc. (United States), MetalTek International (United States), Sigma OEM (United States), Charlotte Pipe & Foundry Co. (United States), Bradken, Inc. (Engineered Products Business) (Australia), EJ Group, Inc. (United States), Precision Castparts Corp. (United States), Xometry, Inc. (United States) and ArcelorMittal (Luxembourg).
Segmentation Overview
AMA Research has segmented the market of Global Metal Casting market by and Region.
On the basis of geography, the market of Metal Casting has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User Industry, the sub-segment i.e. Automotive will boost the Metal Casting market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Type of Metal, the sub-segment i.e. Cast Iron will boost the Metal Casting market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Method, the sub-segment i.e. Sand Casting will boost the Metal Casting market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The emergence of Novel Casting Techniques that Reduce Expenses
Market Growth Drivers:
Encouraging Government Initiatives Boosting Utilization of Aluminium Casting in the Automotive Industry and Increasing Preference for Electric Vehicles
Challenges:
Inability to Cope With Technological Transition
Restraints:
High-Cost Investment for Metal Casting and Establishment of Manufacturing Facility and Rising Additive Manufacturing and Supply Chain Disruptions
Opportunities:
Wide Scale Adoption of Electric Transportation
Market Leaders and their expansionary development strategies
On 3rd October 2022, Winsert acquired Alloy Cast Products, Inc., an investment casting and machining specialist. The acquisition enhanced the company’s metal forming capabilities, in addition to increasing the offering of additional products to existing and prospective customers. Winslet’s extensive alloy portfolio consists of wear-resistant, corrosion-resistant, and high-temperature alloys designed for several applications within the internal power generation, combustion engines, emissions controls, aerospace, and industrial valves.
On 3rd June 2022, The Defense Logistics Agency signed a contract with Concurrent Technologies Corporation for USD 15 million to enhance the practicality of producing old-fashioned critical castings through 3D printed sand-casting mold technology. The project will further help in developing the science and technology of 3D-printed sand-casting molds
Key Target Audience
Automotive Component Manufacturers and Suppliers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.