According to the latest IMARC group report, entitled “Metal Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026“, The global metal smelting market has reached a value of 131 billion US dollars in 2020. For the future, the IMARC Group expects the market to grow at a 7.6% CAGR in 2021-2026. Metal casting is the process of forming metal parts of desired shapes by pouring high temperature molten metal into sand, metal and a ceramic mold. Various materials, such as zinc, iron, steel, magnesium, copper, and aluminum, are commonly used in the metal casting process. Melting metals produces objects of complex shapes and sizes at a relatively lower cost. The liquid metal solidifies in the mold, which is then removed to obtain the desired structure in large quantities. Therefore, metal casting finds application in a wide range of industries including mining, aerospace, construction, defense, and automotive.
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Global Metal Melting Market Trends:
The global metal smelting market is primarily driven by increasing employment in the construction industry as it is highly durable, flexible and recyclable in nature. In addition to this, key players are introducing lost foam molding and computer visualization tools, which are more efficient than traditional molding. Additionally, with deteriorating environmental conditions, manufacturers are formulating simulation-based moldings to reduce waste and operating costs. Metal smelters also recycle their scrap to reduce raw material supply costs. In addition, various research and development (R&D) activities undertaken by key players as well as technological advancements in production processes create positive prospects for the market.
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Key market segmentation:
The competitive landscape of the market has been studied in the report along with the detailed profiles of the major players operating in the market.
Some of these key players include:
- NEMAK SAB from CV
- GF Casting Solutions SA
- Dynacast Ltd.
- Ryobi Limited
- Rheinmetall Automotive AG
- Limited endurance technologies
- Ahresty Company
- Gibbs (Koch Enterprises Inc.)
- Aisin Automotive Casting, LLC
- MINO Industrie USA, Inc.
- Thyssenkrupp AG
- Toshiba Machine Co., Ltd
Breakdown by process:
- Gravity casting
- High Pressure Die Casting (HPDC)
- Low Pressure Die Casting (LPDC)
- Sand casting
Breakdown by type of material:
Breakdown by components:
- Alloy rim
- Battery housing
- Clutch housing
- Car harness
- Crank housing
- Cylinder head
Breakdown by vehicle type:
- Passenger cars
- Light commercial vehicles
- Heavy duty vehicles
Breakdown by electric and hybrid type:
- Hybrid Electric Vehicles (HEV)
- Plug-in Hybrid Electric Vehicles (PHEV)
- Battery electric vehicles (BEV)
Breakdown by application:
- Body assemblies
- Engine parts
- Transmission parts
Breakdown by region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Impact of COVID-19 on the market
- Porter’s Five Forces Analysis
- Historical, current and future market trends
- Market drivers and success factors
- SWOT analysis
- Market structure
- Value chain analysis
- Complete mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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