Global Metal Casting Market to Reach US$ 314.9 Billion by 2032, Stimulated by Rising Infrastructure Projects Worldwide

September 18, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Metal Casting Market Report by Process (Sand Casting, Gravity Casting, High-Pressure Die Casting (HPDC), Low-Pressure Die Casting (LPDC), and Others), Material Type (Cast Iron, Aluminum, Steel, Zinc, Magnesium, and Others), End Use (Automotive and Transportation, Equipment and Machine, Building and Construction, Aerospace and Military, and Others), Components (Alloy Wheel, Clutch Casing, Cylinder Head, Cross Car Beam, Crank Case, Battery Housing, and Others), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Electric and Hybrid Type (Hybrid Electric Vehicles (HEV), Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV)), Application (Body Assemblies, Engine Parts, Transmission Parts, and Others), and Region 2024-2032,” the global metal casting market size reached US$ 165.0 Billion in 2023. Metal casting is a manufacturing method that involves pouring molten metal into a mold cavity, allowing it to solidify, and then extracting the finished product from the mold. It accommodates a broad spectrum of metals and alloys, including steel, aluminum, and brass. It can create parts with complex shapes, geometries, and internal structures. It is widely used for making engine blocks, pistons, and other critical components. It is also employed in the production of various aerospace parts, such as turbine blades and structural components. Besides this, it finds application in the healthcare industry for the development of medical equipment and prosthetics.

Global Metal Casting Market Trends:

Rapid urbanization, increasing population, and the growing demand for consumer electronics are among the key factors positively influencing the market. Additionally, ongoing infrastructure projects worldwide, including the construction of bridges, buildings, and transportation networks, are driving the demand for metal cast products, such as structural components and pipelines. Along with this, the rising need for lightweight and durable components in vehicles, coupled with the expanding sales of hybrid and electric vehicles (H/EVs), is catalyzing the demand for precision metal casting. Apart from this, the development of new metal alloys and composites with enhanced properties, such as lightweight and corrosion resistance, is strengthening the growth of the market. Furthermore, the implementation of various stringent environmental regulations is encouraging industries to opt for recyclable materials, which is offering a favorable market outlook. Moreover, the introduction of advanced casting techniques like three-dimensional (3D) printing and investment casting are enhancing the precision and efficiency of the process and attracting more industries to adopt metal casting. Looking forward, the market value is projected to reach US$ 314.9 Billion by 2032, expanding at a CAGR of 7.3% during 2024-2032.

Market Summary:

  • Based on the process, the market has been segmented into sand casting, gravity casting, high-pressure die casting, low-pressure die casting, and others. Sand casting currently holds the largest market share.
  • On the basis of the material type, the market has been classified into cast iron, aluminum, steel, zinc, magnesium, and others. At present, cast iron dominates the market. 
  • Based on the end use, the market has been divided into automotive and transportation, equipment and machine, building and construction, aerospace and military, and others. Automotive and transportation hold the majority of the market share.
  • Based on the component, the market has been segregated into alloy wheels, clutch casing, cylinder head, cross-car beam, crank case, battery housing, and others.
  • On the basis of the vehicle type, the market has been categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles.
  • Based on the electric and hybrid type, the market has been divided into hybrid electric vehicles, battery electric vehicles, and plug-in hybrid electric vehicles.
  • Based on the application, the market has been classified into body assemblies, engine parts, transmission parts, and others.
  • Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Nemak Sab De CV (Alfa, Sab De CV), GF Casting Solutions AG (Georg Fischer Ltd), Dynacast Ltd, Ryobi Limited, Rheinmetall Automotive AG, Endurance Technologies Limited, Ahresty Corporation, Gibbs (Koch Enterprises Inc.), Aisin Automotive Casting, LLC (Aisin Seiki Co., Ltd.), MINO Industry USA, Inc, Thyssenkrupp AG and Shibaura Machine Co., Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Process, Material Type, End Use, Components, Vehicle Type, Electric and Hybrid Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Nemak Sab De CV (Alfa, Sab De CV), GF Casting Solutions AG (Georg Fischer Ltd), Dynacast Ltd, Ryobi Limited, Rheinmetall Automotive AG, Endurance Technologies Limited, Ahresty Corporation, Gibbs (Koch Enterprises Inc.), Aisin Automotive Casting, LLC (Aisin Seiki Co., Ltd.), MINO Industry USA, Inc, Thyssenkrupp AG and Shibaura Machine Co., Ltd
Customization Scope 10% Free Customization
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Global Metal Casting Market to Reach US$ 314.9 Billion by 2032, Stimulated by Rising Infrastructure Projects Worldwide
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