Global Market for Industrial Castings is Projected to Reach 148.9 Million Metric Tons by 2020

Steady Acceleration in Manufacturing Activity to Drive the Market for Industrial Castings, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Industrial Castings markets. Global market for Industrial Castings is projected to reach 148.9 million metric tons by 2020, driven by growing manufacturing activity, particularly rising automobile parts production in developing markets.

Casting represents a metal modification process indispensable to the manufacture of products with complex shapes. While casting can also involve use of plaster, plastic resin or concrete as material, it is most often associated with use of metal as molten material. The most common metals used for making castings include iron, magnesium, steel, aluminum, zinc and copper-based alloys. Given its role in production of a range of semi-finished and finished goods, including jewelry, valves and other components for heavy machinery, automobiles, and aircraft, metal casting is of critical importance to the manufacturing sector. Metal castings are used for producing over 90% of all manufactured goods and capital equipment worldwide.

Automotive industry represents one of the major end-use sectors for industrial castings with cars and light trucks increasingly being assembled with a range of metal cast parts and components. Steady increase in automotive production as a result of increase in demand for passenger cars, particularly in developing markets such as China and India will fuel demand for a range of automotive parts and components, production of which will need industrial castings. Modernization and upgradation of assembly line machinery and equipment in automotive plants will also create demand for industrial castings. Increase in the number of vehicle miles traveled, parallel increase in the wear and tear of auto-parts and subsequent rise in replacement demand and production of aftermarket automotive parts will also help drive opportunities for growth. Light metal cast parts are expected to continue to replace iron castings in automotive applications.

Continued strengthening of manufacturing activity in emerging markets, such as India, and other developing countries in Asia-Pacific such as Taiwan, Singapore, Korea and Indonesia, is also poised to drive growth in the market. As stated by the new market research report on Industrial Castings, Asia-Pacific represents the largest market worldwide. The region is also forecast to emerge as the fastest growing market with a CAGR of 7.2 % over the analysis period. Growth in the market is driven by regional powerhouses, China and India, which continue to witness steady outsourced manufacturing activity. Ferrous Castings represents the largest product market. Non-Ferrous Castings is projected to witness steady growth led by growing demand for lightweight aluminum castings in automotive and other transportation applications.

Major players in the market include Alcoa Inc., Avalon Precision Metalsmiths, AvioCast Inc., Bradken Limited, Doncasters PLC, Doosan Heavy Industries & Construction Co. Ltd., Esco Corporation, Georg Fischer Ltd., GIW Industries, Great Lakes Castings LLC, Intercast & Forge Pty. Ltd., Kiswok Industries Pvt. Ltd., Kubota Corp., Meridian Lightweight Technologies Inc., Pace Industries, Precision Castparts Corp., Ryobi Ltd., and Shiloh Industries Inc., among others.

The research report titled “Industrial Castings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe, Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World. Key product segments analyzed include Ferrous Castings (Gray Iron Castings, Ductile Iron Castings, Malleable Iron Castings and Steel Castings) and Non-Ferrous Castings (Aluminum Castings, Copper Castings, Magnesium Castings and Other Non-Ferrous Castings).

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