The scope of our recent study on the “Metal Casting Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by product type, process, and application” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The metal casting market was valued at US$ 164,097.35 million in 2022 and is projected to reach US$ 253,220.00 million by 2030; it is expected to grow at a CAGR of 5.6% from 2022 to 2030.

Metal casting manufacturers focus on increasing their product offering portfolio and targeting new customer base through geographical expansion strategies. Diversification in terms of geography reduces the company’s dependency on specific location for revenue generation and mitigates risk associated with market fluctuation. Companies seek opportunities to expand their geographic presence in several locations across the globe. In 2021, Kent Foundry planned a US$ 3.5 million expansion project to manufacture gray and ductile iron castings in the US. In 2021, Brinco Planning Indiana steel foundry planned to open a steel casting plant in Indiana, US, with an investment of US$ 35 million. The plant is aimed to produce rail components. In 2021, The CA Lawton Co acquired Penn-Mar, a gray and ductile iron foundry in Pennsylvania, US. Penn-Mar manufactures multi-cored, gray, and ductile iron castings ranging from 68 to 2,268 kgs. In 2021, Neenah Enterprises acquired an 18.7-acre manufacturing facility for US Foundry & Manufacturing Corp, for US$ 17.43 million, in Florida, US. Further, collaborative efforts with research institutions, universities, and other companies allowed metal casting businesses to access expertise and develop novel solutions. In 2021, Qualcomm, a semiconductor supplier, announced interest in working in partnership with foundries in Europe, if incentive programs to drive automotive chip production in Europe attract the right partners. Therefore, strategic expansion strategies by several market players are expected to create lucrative opportunities in the global metal casting market during the forecast period.

Impact of COVID-19 Pandemic on Metal Casting Market

The global economy was hit hard due to the COVID-19 pandemic. Governments of various regions had taken possible steps to restrict the spread of SARS-CoV-2 by announcing country-wide lockdowns, which directly impacted the growth of manufacturing sector. The metal industry faced challenges procuring raw materials. Moreover, restrictions in the raw materials procurement activities have significantly fluctuated the prices of metal casting market. However, the metal casting market has recovered due to the increasing manufacturing activities.

The report includes the segmentation of the global metal casting market as follows:

The global metal casting market, by type, by product type, is segmented into carbon steel alloys, stainless steel alloys, aluminum alloys, grey iron, ductile iron, and others. Based on source, the market is segregated into sand casting, investment casting, gravity die casting, and others. Based on application, the market is segmented into automotive, aerospace, marine, textile, building and construction, oil and gas, industrial machinery, and others. By geography, the global metal casting market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The global metal casting market in North America is further segmented into the US, Canada, and Mexico. The global metal casting market in Europe is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The global metal casting market in Asia Pacific is further segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, UAE, and the Rest of MEA. The global metal casting market in South & Central America is studied on the basis of Brazil, Argentina, and the Rest of South & Central America.

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