Metal Casting Market to Reach $141.64 Billion by 2030, Driven by Industrial Demand and Technological Advancements

The global Metal Casting Market Size is poised for significant growth, projected to expand from $42.16 billion in 2023 to $141.64 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 18.9% . This surge is fueled by increasing demand across automotive, construction, and industrial sectors, coupled with advancements in casting technologies enhancing efficiency and precision.

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Competitive Landscape and Regional Demand

The market is characterized by the presence of key players such as ArcelorMittal SA, POSCO Holdings Inc., Alcoa Corp, and Ryobi Ltd, who are investing in research and development to innovate and meet the evolving demands of end-use industries . Asia-Pacific dominates the market, accounting for approximately 55.4% of the global revenue in 2022, attributed to the availability of skilled labor and a robust manufacturing base .

Growth and Consolidation in the United States
The United States metal casting market is experiencing steady growth, driven by demand in automotive and industrial machinery sectors. In 2022, the U.S. market was valued at $38.2 billion, with projections indicating continued expansion . Companies like Alcoa Corp and Arconic Inc. are focusing on mergers and acquisitions to enhance their product portfolios and expand their market presence.

Trends and Opportunities in Asia-Pacific
Asia-Pacific remains the largest and fastest-growing region in the metal casting market. China and India are leading producers, with production volumes of 49,400 kilotons and 12,055.1 kilotons respectively in 2023 . The region's growth is supported by increasing demand in construction and automotive industries, along with favorable government policies encouraging manufacturing.

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Updation and Opportunities in the Middle East and Africa
The Middle East and Africa metal casting market is projected to grow at a CAGR of 3.8% from 2022 to 2030, reaching $10.32 billion by 2030 . This growth is fueled by advancements in casting technologies and increased investments in infrastructure and aerospace sectors. Countries like the UAE and Saudi Arabia are investing heavily in airport expansions and industrial developments, creating opportunities for metal casting applications.

Trends and Growth in Europe
Europe's metal casting market is anticipated to grow at a CAGR of 4.9% from 2024 to 2030 . The region hosts approximately 4,500 metal casting firms, predominantly small enterprises. The strong automotive industry in countries like Germany, France, and Italy drives demand for aluminum-based casting solutions. Companies such as Thyssenkrupp AG and Rheinmetall Automotive AG are key players in this market.

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Market Segmentation: In-Depth Analysis:

by Process

Gravity Casting
High-Pressure Die Casting (HPDC)
Low-Pressure Die Casting (LPDC)
Sand Casting

by Material Type

Aluminium
Cast iron
Magnesium
Zinc
Others

The market is divided into many segments based on the kind of material, including aluminum, 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 industry is anticipated to come from emerging economies, especially in the oil & gas, construction, and automotive industries. It is probable that investors will continue to prioritize completed casting items.

by Vehicle Type

BEV
HEV
PHEV

by Application

Automotive & transportation
Industrial
Building & construction
Others

The market is divided into many 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 production has been steadily increasing, if slowly, during the past few years. 2023 saw a 2.5% growth in global automobile production, according to the International Organization of Motor Vehicle Manufacturers. For automakers and market suppliers, using aluminum to reduce weight will remain a crucial component.

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Market Key Players : In-Depth Analysis:

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. Bühler AG

Note:

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