Metal Casting Market Demand Analysis and Projected huge Growth by 2030

The global Metal Casting Market size 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.

Advancements in casting technologies can transform the metal casting industry by improving efficiency, precision, and quality of production. Technological developments are expected to address constraints about complex geometries, material properties, and environmental sustainability. Several advanced technologies include digital simulation and modeling, additive manufacturing, vacuum casting, lost foam casting, high-pressure die-casting, low-pressure mold casting, and permanent mold casting.

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Analysis of the Top Market Players:

1. ArcelorMittal SA
2. Posco Holdings Inc
3. Alcoa Corp
4. Lucchini RS SpA
5. RYOBI Aluminium Casting (UK) Ltd
6. Allard-Europe NV
7. FONDERIA AUGUSTA Srl
8. MEDEKO CAST Sro
9. Tycon Alloy Industries (HongKong) Co Ltd
10. Novacast Ltd

In this report, the market has been segmented on the basis of:

Product Type (Carbon Steel Alloys, Stainless Steel Alloys, Aluminum Alloys, Grey Iron, Ductile Iron, and Others)
Process (Sand Casting, Investment Casting, Gravity Die Casting, and Others)
Application (Automotive, Aerospace, Marine, Textile, Building and Construction, Oil and Gas, Industrial Machinery, and Others)

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Permanent mold casting is termed as gravity die casting, that involves molten metal poured into the reusable mold. Additive casting utilizes additive manufacturing to produce molds and patterns, to cast metal components. The approach reduces the requirement for tooling and ensures the manufacturing of complex components. In 2021, Gen3D and Enable collaborated to design and produce a complex lattice structure using Enable's Additive Casting process, which is a hybrid production method combining additive manufacturing and conventional casting. Additive manufacturing in metal casting has a wide scope of application in several end-use industries such as automotive, aerospace, engineering, and machinery industries. Thus, the advancement of casting technologies is expected to become a major trend in the metal casting market during the forecast period.

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