Metal casting is used to achieve desired dimension accuracy and surface finishing through the choice of process in various industries. Furthermore, metal casting process provides multiple powertrains and body structure components manufacturing using lightweight material such as Al, Mg, Zn & others. With the increase adoption of simulation-based model to reduce operational cost and wastage is now becoming one of the major trends to gain attraction for metal casting market in the near future.
Increasing adoption of digital radiotherapy and X-ray casting defect recognition are projected to drive the metal casting market growth in the coming years. The demand for X-ray casting defect recognition is increasing in production processes owing to software integrated with improved algorithms and also it undergoes numerous technological upgradations. Moreover, increasing demand from defense, aerospace and telecom industries may raise the demand for product in the near future. According to American Foundry Society, 90% of manufactured goods contain some metal casting. For instance, in 2014, according to Modern Casting Census of World Casting Production, casting growth of 2.3% was estimated from 2013 to 2014. Furthermore, the worldwide casting production has reached to 104.1 million metric ton in 2015, as compared to 103.7 million metric tons produced in 2014.
Geographically, global metal casting market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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Asia Pacific is expected to hold the major metal casting market. Asia Pacific is global leader in vehicle production in the past 5 years for passenger cars and commercial vehicles. China is largest automotive hub in the region owing to presence of many local as well as international OEMs such as SAIC Motor, Volkswagen, Brilliance Auto, JAC Motors, and General Motors.
North America is expected to be the developing region for metal casting market, which is majorly driven by modern infrastructure, growing economy, and national defence. In North American region, U.S. is likely to lead in this market and ranks in production behind China and India. According to American Foundry Society nearly 2000,000 people were employed by U.S. metal casting industry.
Europe metal casting market is expected to grow at substantial rate in the region. Europe’s automotive industry has witnessed a dramatic growth over the past couple of years owing to inviting new innovations. The European automotive players are striving to meet the targets for highly tensile chassis frames and strong automotive parts that are long standing, lightweight and cost effective.
Latin America is expected to be the foremost producer in metal casting market following with Brazil, Argentina and Mexico. Brazil is likely to be the leading country as the electric power hydro generation is the main source and well trained man-power. According to The Latin America Foundry Industry, the cast metal production in Brazil was 2,859,898 tons, in Mexico 1,651,679 tons and in Argentina it was 166,100 tons till 2012.
Middle East & Africa region needs to transform in terms of innovation and human capital, such that South African Institute of Foundrymen, has organized an international metal casting conference embracing in new technological innovation to increase the growth of metal casting market in the region.
Global metal casting market is segmented by process, application, material type, components, and end user.
On the basis of the process, High Pressure Die Casting (HPDC) segment is expected to lead in the market owing to its quick, reliable and cost-effective manufacturing process for production of high volume, metal components that are net-shaped have tight tolerances. They also offers remarkable properties such as light weight capabilities, high strength and flexible for creating complex shapes.
On the basis of the application, Body assembly components are extensively used for manufacturing metal casting. Major contribution of body assembly in the overall vehicle weight and increasing use of lightweight materials in body assembly components are the key factors which may raise the demand of product in the metal casting market.
On the basis of material type, global metal casting market is segmented into aluminum, cast iron, magnesium, zinc, and others. Aluminum material is widely used in automotive sector and also extensively used for metal casting due to its superior properties such as durability, and it is lighter than steel. Die casting process used aluminum material with high thermal conductivity which is advantage in any application where it is desirable to conduct or dissipate heat quickly and uniformly.
On the basis of components, metal casting market is segmented into alloy wheels, battery housing, cross car beam, clutch casing, crank cases, cylinder heads, engine block, differential cover housing, engine mount, flywheel housing, front door and rear door frame, exhaust & intake manifold, gearbox housing, ignition & lock housing, transmission housing & turbocharger housing, and others.
On the basis of end user, metal casting market is segmented into automotive, medical devices manufacturer, chemical and other. Engine downsizing is a major trend that is altering the market dynamics of the automotive sector. Passenger car segment is likely to lead the metal casting market owing to increase in production and sales of passenger cars in developing regions.
Metal Casting Market Segmentation
By Material Type
By End User
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