Metal Casting Market Expected To Propel Growth Owing To Rising Usage In Forming Precious Metals, Weapons, Construction Equipment And Wind Turbines Till 2022 | Million Insights
July 12, 2018 --
The global Metal Casting Market is expected to grow on account of the rapid industrialization and development in the manufacturing sector. The metal casting process reduces the overall cost of the metal produced than the metal produced by the machining process. The material property being the same in both processes, the casting method is expected to be cheaper in terms of cost involved in producing finished product. The machining process of shaping a metal takes lesser amount of time but at the same time is costly in terms of investment required to bring out a finished product. This cost can be save from metal casting process as the major investment involvement involved in this process is that of the mould in which the molten metal is poured. However, government intervention to impose strict environmental laws on the manufacturing companies in order to reduce pollution is expected to be a hindrance in the growth of the market in future.
Growing demand in sculptures, forming precious metals and weapons, planes, trucks, cars, trains, construction equipment and mining, oil wells, toys, pipes, space shuttles, nuclear plants and wind turbines will fuel industry growth over the forecast period. Rising demand for the process in various countries including China, the U.S., Germany, Japan, India and Brazil will stimulate industry expansion in the near future.
Full Research Report On Global Metal Casting Market Analysis available at: https://www.millioninsights.com/industry-reports/metal-casting-market
Increasing automotive production mainly in China, Indonesia, Mexico, U.S., Germany, South Korea, Japan, Malaysia and Taiwan is major driver for market growth. In addition, rapid economic growth, increasing government spending, advancements in the road infrastructure coupled with increasing inclination of consumers towards personal conveyance are expected to propel market growth.
The global market can be segmented into expandable and non-expandable casting in terms of mould usage. On the basis of the method the market is segmented into ferrous, non-ferrous and simulation casting. The most advanced technology in the employed in the market is simulation casting and is expected to grow at a significant rate in the near future. The metal casting simulation process provides a quantitative analysis about the thermal properties, mechanical properties and distortion effects of the metal undergoing casting by numerically calculating its cooling attributes, solidification attributes and the mould properties. Growing process demand as it offers high precision which will propel industry expansion. The non-expandable casting is expected to rise on account of high usage in industrial sector. The method is expected to witness growth over the forecast period as it has lower cost as compared to the other process.
North America is expected to grow in the near future on account of high raw material availability, proximity to customers, technological developments, engineering skills and increasing productivity mainly in the U.S. and Mexico. The development of aviation sector in the North America has driven the demand for the cast aluminium alloys for the usage in the aviation sector, which in turn will drive industry expansion. Europe account for significant market share over the forecast period in light of cheap raw materials with numerous number of metal extraction sites in the region. Asia Pacific will witness tremendous industry growth over the next seven years on account of rapid industrialization along with growing heavy work industries including automotive, foundry, aviation, aerospace and construction mainly in China and India.
The usage of casting methodology saves a considerable amount of money and holds the metals chemical properties making it suitable for use in automotive and aerospace industries. Key market players in the global metal casting market are Alcoa, Hitachi Metals, Precision Castparts, Bharat Forge, Amcol Metal Casting, Georg Fischer, Schuler Group and ThyssenKrupp. In February 2016, Bharat Forge announced its first shipment of titanium flap-tracks forgings for Boeing aircrafts improving its reputation in the metal casting industry as a major supplier in aviation sector. In July 2013, Amcol Metal Casting launched their new product under the brand name of AMCO-M, catering to the demand levels of the U.S. market and to meet the supply demand in rest of America.
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Metal Casting in these regions, from 2012 to 2022 (forecast), covering
• North America
• Southeast Asia
Global Metal Casting market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Xinxing Ductile Iron Pipes
• Hitachi Metals
• Amsted Industries Inc.
• Grede Holdings
• Georg Fischer
• Faw Foundry
• CITIC Dicastal
• Huaxiang Group
• Meide Casting
• Bharat Forge
• Bohai Piston
• Mueller Industries
• Sinosteel XTMMC
• Precision Castparts
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Gray Iron Metal Casting
• Ductile Iron Metal Casting
• Malleable Iron Metal Casting
• Steel Metal Casting
• Alloy Metal Casting
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/metals-and-mineral
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Metal Casting for each application, including
• Machinery & Equipment
• Motor Vehicles
• Pipe & Fitting
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