Global Metal Casting Market Outlook, Growth, Analysis, and Research Report

Market Overview:

The global metal casting market size reached US$ 165.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 314.9 Billion by 2032, exhibiting a growth rate (CAGR) of 7.3% during 2024-2032. The increasing sales of luxury vehicles, rising construction activities, and the growing demand for renewable energy sources represent some of the key factors driving the market.

Favorable Government Regulations Augmenting Market Growth

Several initiatives undertaken by governments of numerous countries to impose strict regulations and reduce emission levels in power plants represent one of the primary factors strengthening the market growth around the world. As a result, OEMs and their suppliers are engaged in research and development (R&D) to find different ways of enhancing fuel efficiency, increase power, and reduce the weight of automobiles' core components. They are also increasing the use of non-ferrous materials, such as aluminum and magnesium, which provide better structural strength and are lighter than automobile parts made with traditional metals.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with a large number of players operating in the industry. The volume of new entrants is moderate in the metal casting industry due to low product differentiation.

What is Metal Casting?

Metal casting refers to a manufacturing procedure wherein molten metal is poured into a mold and enabled to solidify into the desired shape. Its process involves several steps, including pattern making, mold making, pouring, solidification, and finishing. It can use a variety of metals, including iron, steel, aluminum, copper, and zinc. It is a complex process that requires skilled professionals and careful attention to detail, but it can be used to create high-quality metal products. It is used to create a wide range of products, including automotive parts, machinery components, tools, and decorative items. It assists in improving energy efficiency, lowering production costs, enhancing environmental quality, and creating innovative new cast products.

COVID-19 Impact:

The COVID-19 pandemic outbreak has caused a significant impact on the metal casting industry and imposed unprecedented challenges on numerous countries. The lockdowns led to a reduction in demand for metal castings, and the travel restrictions made it difficult for manufacturers to transport raw materials and finished goods. Many metal casting factories were forced to shut down temporarily, causing a decline in production and sales. The closures had a ripple effect on the industry, which resulted in a shortage of critical components and delays in project timelines. This situation worsened as many countries that produce raw materials for the metal casting industry were also impacted by the pandemic, leading to supply chain disruptions. Furthermore, the pandemic also affected the workforce in the metal casting industry. Many workers fell ill with COVID-19, which led to labor shortages and production delays. This, coupled with social distancing protocols, made it difficult for factories to maintain normal operations. Despite the challenges, the metal casting industry adapted and implemented measures to cope with the pandemic. Many factories implemented remote work and virtual meetings to minimize the risk of infection, and some even repurposed their production lines to manufacture personal protective equipment (PPE) for healthcare workers.

Metal Casting Market Trends:

Metal casting is employed in the automotive industry for manufacturing components, including engine blocks, cylinder heads, crankshafts, transmission cases, covers, gears, control arms, rotors, calipers, fuel pumps, and fuel injectors. This, coupled with the increasing sales of luxury, hybrid, and electric vehicles (EVs) on account of rapid urbanization and inflating income levels, represents one of the major factors strengthening the market growth around the world. Moreover, there is a rise in the use of metal casting in the construction industry for producing building components, such as door handles, hinges, locks, balusters, railings, and staircases, that are made of brass, iron or aluminum materials. This, coupled with the growing construction activities in residential and commercial areas, is influencing the market positively. In addition, the increasing demand for renewable energy sources, such as wind turbines and solar panels, that requires metal casting for generating parts is favoring the growth of the market. Apart from this, the rising usage of metal casting in the manufacturing of aircraft, home appliances, and surgical equipment on account of its numerous advantages, such as improving energy efficiency, lowering the cost of production, and enhancing the quality, is contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global metal casting market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on process, material type, end use, components, vehicle type, electric & hybrid type, and application.

Process Insights:

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

The report has provided a detailed breakup and analysis of the metal casting market based on the process. This includes sand casting, gravity casting, high-pressure die casting, low-pressure die casting, and others. According to the report, sand casting represented the largest segment as it is a metal casting process characterized by the usage of sand as the mold material. It is best suited for larger, heavier, and more complex castings. Moreover, the increasing usage of sand casting in the automotive, construction, and energy sectors is influencing the market positively.

Material Type Insights:

• Cast Iron
• Aluminum
• Steel
• Zinc
• Magnesium
• Others
   

A detailed breakup and analysis of the metal casting market based on the material type has also been provided in the report. This includes cast iron, aluminum, steel, zinc, magnesium, and others. According to the report, cast iron accounted for the largest market share as it improves the casting performance of the molten metal. Moreover, the rising use of cast iron to make engine blocks and cylinder heads, manifolds, gas burners, gear blanks, enclosures, and housings is bolstering the market growth.

End Use Insights:

• Automotive and Transportation
• Equipment and Machine
• Building and Construction
• Aerospace and Military
• Others
   

A detailed breakup and analysis of the metal casting market based on the end use has also been provided in the report. This includes automotive and transportation, equipment and machine, building and construction, aerospace and military, and others. According to the report, automotive and transportation accounted for the largest market share on account of the increasing utilization of metal casting for producing vehicle components in the automotive industry. Moreover, metal casting is used to produce automobile accessories that are light in weight, cheap, and easy to maneuver. In addition, the rising demand for metal casting for chassis parts, air conditioning systems, engine parts, and fuel intake parts is supporting the market growth.

Automotive and Transportation Market: Components Insights:

• Alloy Wheel
• Clutch Casing
• Cylinder Head
• Cross Car Beam
• Crank Case
• Battery Housing
• Others
   

A detailed breakup and analysis of the metal casting market based on the components has also been provided in the report. This includes alloy wheels, clutch casing, cylinder head, cross-car beam, crank case, battery housing, and others. According to the report, alloy wheels accounted for the largest market share as they are made from an alloy of aluminium or magnesium. They are mixtures of metal and other elements. They are made from materials, such as magnesium, which is used in special vehicles like sports cars or upper class models for better performance.

Automotive and Transportation Market: Vehicle Type Insights:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
   

A detailed breakup and analysis of the metal casting market based on the vehicle type has also been provided in the report. This includes passenger cars, light commercial vehicles, and heavy commercial vehicles. According to the report, passenger cars accounted for the largest market share as they use metals for the manufacturing of car equipment through metal casting are aluminium and zinc. Metal casting is used in various parts of the passenger car, such as wheels, valve covers, engine block, wheel spacer, and clutch. Moreover, the rising demand for special utility vehicles (SUVs) due to the increasing leisure and tour activities is influencing the market positively.

Automotive and Transportation Market: Electric and Hybrid Type Insights:

• Hybrid Electric Vehicles (HEV)
• Battery Electric Vehicles (BEV)
• Plug-In Hybrid Electric Vehicles (PHEV)
   

The report has provided a detailed breakup and analysis of the metal casting market based on the electric and hybrid type. This includes hybrid electric vehicles (HEV), battery electric vehicles (BEV), and plug-in hybrid electric vehicles (PHEV). According to the report, hybrid electric vehicles (HEV) represented the largest segment due to which the demand for metal casting products especially aluminum casting is rising tremendously. Metal casting products are used to manufacture the components of HEV.

Automotive and Transportation Market: Application Insights:

• Body Assemblies
• Engine Parts
• Transmission Parts
• Others
   

A detailed breakup and analysis of the metal casting market based on the application type has also been provided in the report. This includes body assemblies, engine parts, transmission parts, and others. According to the report, body assemblies accounted for the largest market share as they use metal casting for manufacturing components of a vehicle.

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for metal casting. The increasing demand for lightweight vehicles represents one of the major factors driving the Asia Pacific metal casting market. Furthermore, the rising sales of electric vehicles (EVs) due to the growing environmental awareness is influencing the market positively in the region. Besides this, the increasing investments in research and development (R&D) that enables the automotive equipment manufacturers to develop new products is propelling the growth of the market in the region

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global metal casting market. Some of the companies covered in the report include:

• 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
• Shibaura Machine Co., Ltd
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the metal casting market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global metal casting market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the metal casting industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.