Metal Casting Market is segmented as product, application and region. Based on product, the market is segmented as heavy metal casting, bearing pile, channel, pipe, hallow steel section, I-beam, tee and others. Based on application, the market is segmented in to residential and non-residential.
Metal Casting Market is valued at USD 92.85 Billion in 2018 and expected to reach USD 134.44 Billion by 2025 with CAGR of 5.43% over the forecast period.
Metal Casting is a steel construction material which is manufactured with particular shape, dimension and specified value of strength & chemical composition. Various types of metal castings are there such as beam, HSS, channel, angle, plate etc. Metal Casting composition, size, shape, strength and storage are predetermined and controlled by standards in many countries. These are mainly used for construction purpose such as bridge, civil and marine engineering. Metal Casting includes elements such as carbon, manganese, Nb, V, Ti, and Al. Casting shapes, such as I-beams have high second moments of area, which in turn makes them very stiff in respect to their cross-sectional area and can support a high load without excessive sagging.
The regions covered in this Metal Casting Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Metal Casting is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Growing Construction and Infrastructure Activities in Developing Countries is driving the Metal Casting Market.
Metal Castings are in high demand for construction and infrastructure purpose in emerging economies such as China, India and Brazil. Manufacturers are heavily spending in machinery that allows them to automate their production and increase production speed. This metal cutting trend is reinforced by variety of tools such as metal casting GEN3SYS XT holder and inserts system, T-A Metal Casting drilling systems which is introduced by Allied Machine & Engineering etc. Metal Casting has low carbon content and is an entry level steel which makes it more inexpensive than other steel products and is perfectly capable for types of load applications it is designed for. Metal casting is more demanding for non-residential sector comparing to residential sector due to its various applications. The metal casting market is growing due to its demanding application in various sectors such as construction, mining, transport, ship building, energy, packaging etc. New technological development such as lighter metal casting profiles with anti-corrosion Zn-Al-Mg coatings, is especially suitable for construction sector, boosts the product portfolio of metal casting market and creates opportunity at the same time.
Asia Pacific is expected to dominating the Metal Casting Market
Asia-Pacific is dominating the metal casting market due to presence of emerging economies such as China, India, Indonesia and south East Asian countries, huge demand of construction activities and government policy of infrastructure development. For example, the construction industry is expected to be account for 15% of India’s GDP by the year 2030. The factors contributing to the growth would be the construction of residential buildings to the tune of 110 million units under PMAY, commercial buildings and increased push to infrastructure development through construction of roads, ports and airports and further development of MRTS and railways. All These activities require metal castings which help in growth of the metal casting market in India.
Europe has the second highest share of metal casting market, led by UK, Italy, France and Germany. Factors such as growth in residential, non-residential and civil engineering along with upgradation in construction and renovation are driving metal casting product demand in this region. As for North America, the steps that are taken by governments in steel market will boost the metal casting industry of this region. For example, the United States Metal Casting industry supplied fabricated and erected Metal Casting framing for over 10,000 buildings, bridges and industrial facilities through a network of producers, service centers, steel fabricators and erectors in 2017. Total industry revenue of metal casting sector in USA was estimated to be in excess of 20 billion dollars in 2017. The Department of Energy has introduced the Advanced Manufacturing Office (AMO) which works with public-private partners to improve and commercialize technologies and practices that will help U.S. Metal Casting market.
By Regional & Country Analysis:
The Middle East and Africa
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