Metal Casting Market Size
Market Outlook:
Base Year Value (2023)
USD 147.25 Billion
CAGR (2024-2032)
5.6%
Forecast Year Value (2032)
USD 225.13 Billion
Historical Data Period
2019-2023
Largest Region
Asia Pacific
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:The metal casting market is expected to witness significant growth due to the increasing demand in various end-use industries such as automotive, aerospace, and construction. The automotive industry, in particular, is a major growth driver for the metal casting market as the demand for lightweight and high-strength components continues to rise. Additionally, the growing trend of 3D printing in metal casting processes is creating new opportunities for market expansion.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Material, Application |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | POSCO, Dynacast, Arconic, Ryobi Limited, Endurance Technologies Limited, Alcast Technologies, UNI Abex, MES, CALMET, Hitachi,. |
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Despite the positive outlook, the metal casting market also faces certain restraints that could hinder its growth. One major restraint is the volatility in raw material prices, which can impact the overall production costs for metal castings. Another key restraint is the stringent regulatory environment governing emissions and waste management in the metal casting industry, which can pose challenges for manufacturers in terms of compliance and sustainability efforts.
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