Metal process

Metal Smelting Market: Segmented: By Process, By Material

New York, June 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Metal Smelting Market: Segmented: By Process, By Material Type, By Components, By Application, By Vehicle Type and By Region – Global Analysis of Market Size, Share and Trends 2019-2021 and Forecast to 2031″ – https://www.reportlinker.com/p06288816/?utm_source=GNW
It has traditionally been used to construct complex and/or huge objects that would be difficult or expensive to manufacture using other methods. Casting is mainly used to create ingots and shapes. An ingot is a simple shaped casting intended for further processing such as metal extrusion, forging, etc. Shape casting is used to create complex geometries that are closer to the final product in near or sharp shape castings.

Market Highlights
The global metal casting market is expected to project a notable CAGR of 10.5% in 2031.

During the forecast period, factors such as the growing demand for molding from the automotive industry and the benefits provided by the molding process such as precision, accuracy, faster cycle time and excellent surface quality, are expected to propel the metal casting market.

Global Metal Casting Market: Segments
The cast iron segment is expected to grow with the maximum growth in 2021-31

Based on type of material, the metal casting market is divided into aluminum, cast iron, magnesium, zinc, and others. The cast iron segment holds the largest market share in terms of volume. Emerging markets are expected to account for the majority of demand in this area, particularly in the automotive, construction, and oil and gas sectors. Investors should continue to focus on finished foundry products.

Engine Parts Segment Expected to See Maximum Growth in 2021-2031

Based on application, the metal casting market is divided into body assemblies, engine parts, transmission parts. During the projected period, the application of engine parts is expected to dominate the metal casting market. Some of the important components evaluated in this application include cylinder heads, engine block, engine mounts, exhaust manifold, intake manifold, oil pan, and turbochargers. The cast iron engine block is being replaced by an aluminum engine block as part of the growing trend towards lighter vehicles.

Market dynamics
Drivers
Multiple Benefits of Metal Casting Technology Drive Market Growth

The metal casting technique has a number of advantages, including the ability to improve energy efficiency, reduce production costs, improve environmental quality, and create inventive new cast products. Pipes and fittings, mining and petroleum machinery, internal combustion engines, railways, valves, and agricultural equipment all rely heavily on casting to produce consistent products because of these advantages. Additionally, metal casting foundries use metal recycling as a cost-effective source of raw material, which significantly reduces scrap.

Extensive foundry research and development for innovations

The creation of lost foam casting tools and computerized visualization tools for die-casters to generate alternative casting media are examples of ongoing metal casting research that is ensuring innovations and improvements in the casting process.

Detention
High cost associated with casting materials

Market growth is stifled by the high cost of casting materials such as aluminum and magnesium, as well as metal extrusion method compared to die casting.

Global Metal Casting Market: Key Players
POSCO
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence, SWOT analysis

arconic
Alcast Technologies
Dynacast
Ryobi Ltd.
Endurance Technologies Limited
uniabex
MES, Inc.
CALM
Hitachi Metals
Other top players

Global Metal Casting Market: Regions
The global metal casting market is divided into four regions: North America, Europe, Asia-Pacific, and Rest of the World. With volume share, Asia-Pacific was the top regional metal casting market. In the same year, India and China produced a significant amount of goods. End-use industries such as construction and automotive are driving the demand for products in these countries due to increasing population and income levels.

Impact of COVID-19 on the Metal Casting Market
COVID-19 has both short-term and long-term repercussions, causing a crisis in the supply chain, especially in production and distribution. During the outbreak, market volume and spending dropped. The standard limits were for the customer to change their lifestyle and lifestyle preferences and not seek market products. This puts even more pressure on market producers and manufacturers.

The global metal casting market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – US, Mexico & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Brazil and Rest of Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Russia & Rest of Europe
Asia-Pacific Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – India, China, South Korea, Japan & Rest of APAC
Middle East & Africa Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – South Africa & Rest of Middle East & Africa
The Global Metal Casting Market report also contains analysis on:

Metal Casting Market Segmentation:

By process
Gravity casting
High pressure die casting (HPDC)
Low pressure die casting (LPDC)
Sand casting
By type of material
Aluminum
Melting
Magnesium
Zinc
Others
By components
Alloy rim
Clutch housing
Cylinder head
car sleeper
Crank Case
Battery compartment
Others
By app
Body assemblies
engine parts
Transmission parts
By type of vehicle
Passenger car
HCV
VEB
HEV
PHEV
Dynamics of the metal foundry market
Metal Smelting Market Size
Offer and demand
Current trends/issues/challenges
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Scope and segmentation of the Metal Casting Market report
Report attribute details
Market size value in 2021 USD 91.7 billion
Revenue forecast in 2031 248.9 billion USD
CAGR growth rate of 10.5% from 2021 to 2031
Base year for the estimate 2020
Quantitative units

Revenue in USD Million and CAGR from 2021 to 2031
Report Coverage Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Segments Covered Process, Material Type, Components, Application, Vehicle Type and Region
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Key Companies Featured POSCO, Arconic, Alcast Technologies, Dynacast, Ryobi Ltd., Endurance Technologies Limited, Uniabex, MES, Inc., CALMET, Hitachi Metals
Read the full report: https://www.reportlinker.com/p06288816/?utm_source=GNW

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