Iron Casting Market

The global iron casting market is predominantly driven by industries such as automotive manufacturing, construction, machinery production, and the oil & gas sector. These industries heavily rely on iron castings for various applications, including engine components, pipes, and structural parts.

Digitalisation is playing a substantial role in shaping the global iron casting market. It facilitates the optimisation of production processes, quality control, and supply chain management. Digital tools like computer-aided design (CAD) and simulation software help foundries improve product design and casting processes, leading to enhanced competitiveness in the market.

The global iron casting market space features a mix of large foundry corporations and smaller, specialised foundries. Major players include companies Hitachi Metals, Ltd., Dandong Foundry, Chamberlin plc, Crescent Foundry, and Xinxing Cast Pipe Co., Ltd that are known for their extensive production capabilities and diverse product offerings in the iron casting sector.

Led by China, and India, Asia Pacific is expected to remain the largest regional market for iron casting. The trend will prevail in the long term on the back of the region’s strong growth and developments in construction, and automotive industries.

By the end of 2030, the market for iron casting will possibly reach the whopping US$150 billion mark, experiencing a CAGR of 6%, up from 2023.