Press Release

Global Iron Casting Market is Expected to Reach Production of 9,220 Kilo Tons by 2025

Date : Dec 10, 2018

Casting is a process in which a liquid metal is somehow delivered into a mold that contains a hollow cavity of the intended shape. The metal and mold are then cooled, and the metal part (the casting) is extracted. Casting is most often used for making complex shapes that would be difficult or uneconomical to make by other methods.

Cast iron is a family of metals produced by smelting metal, and then pouring it into a mold. The primary difference in production between wrought iron and cast iron is that cast iron is not worked with hammers and tools. There are also differences in composition—cast iron contains 2–4% carbon and other alloys, and 1–3% of silicon, which improves the casting performance of the molten metal. Small amounts of manganese and some impurities like sulfur and phosphorous may also be present. Differences between wrought iron and cast iron can also be found in the details of chemical structure and physical properties.

Due to the presence of carbon in cast iron, it may sometimes be confused with steel. However, there are significant differences. Steel contains less than 2% carbon, which enables the final product to solidify in a single microcrystalline structure. The higher carbon content of cast iron means that it solidifies as a heterogeneous alloy, and therefore has more than one microcrystalline structure present in the material.

It is the combination of high carbon content, and the presence of silicon, that gives cast iron its excellent castability.

The Iron Casting industry was 7,790 Kilo Tons in 2017 and is projected to reach USD 9,220 Kilo Tons by 2025, at a CAGR (Compounded Annual Growth Rate) of 2.14% between 2017 and 2025. Global market for Iron Casting is driven by growing manufacturing activity, particularly rising automobile parts production in developing markets. Growth in the market is driven by regional powerhouses, China and India, which continue to witness steady increases in outsourced manufacturing activity.

The key players are Waupaca Foundry, Grede Foundry, Neenah Foundry, Metal Technologies, Inc., Cifunsa, Wescast Industries, INTAT Precision, Chassix, Aarrowcast, Inc., Cadillac Casting, Inc., Rochester Metal Products, Goldens'Foundry, Weichai, Xinxing Ductile Iron Pipes, eorg Fischer, Faw Foundry, Huaxiang Group, Meide Casting and so on.

Iron Casting has been successful in creating near net shapes for thousands of years. While the process has significant advantages, the high cost and time involved in the creation of tooling have limited the casting industry.

There are several 3D printing processes which can be used to build ferrous casting patterns, allowing more designs to be cast without the initial expense and time to fabricate wax pattern tooling.

The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.

The Global Iron Casting Market Research Report 2018 report released by Global QYResearch provides a basic overview of the Iron Casting industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.

The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Iron Casting industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.

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