Foundries Market Size, Share, Growth, Trends, and Global Industry Analysis: By Casting Process, By Type, By Application, and Region Forecast 2019-2030
Foundries Market Size, Share, Growth, Trends, and Global Industry Analysis: By Casting Process, By Type, By Application, and Region Forecast 2019-2030
Foundries Market size was valued at US$ 135.2 billion in 2023, growing at a CAGR of 4.2% from (2024-2030). The rising demand for metal castings by diverse end-use industries such as automotive, aerospace, and construction will continue to drive the market for foundries. The expansion of the manufacturing sector and development in casting technologies are also buoying expansion in this market.
The main restraints identified for the market are high production costs and environmental regulations on emissions and waste. Opportunities include advanced materials and processes. Advanced materials and processes such as 3D printing and automation aid in efficiency and sustainability. The major trends include a shift towards green foundry practices, utilization of recycled materials, and digitalization of the production process to optimize operational efficiency and reduce environmental impact.
The foundries market share is inclusive of several companies such as Aditya Birla Management Corp. Pvt. Ltd., Ashok Iron Works P Ltd., Brakes India Pvt. Ltd., CALMET, Cooper Corp. Pvt. Ltd., DCM Ltd., Electrosteel Castings Ltd., Fortune Foundries Pvt. Ltd., Gujarat Metal Cast Industries Pvt. Ltd., Hackforth Holding GmbH & Co. KG, Jayaswal Neco Industries Ltd., JSW STEEL Ltd., Kalyani Group, Kirloskar Ferrous Industries Ltd., Larsen and Toubro Ltd., Menon and Menon Ltd., Nelcast Ltd.
By Casting Process: Among the foundries markets, the dominant process is sand casting because of its flexibility, cost-effectiveness, and ease of production by which complex parts of all sizes and shapes are cast. This method is used in various types of industries across automotive, aerospace, and even the construction sectors because it allows for ferrous and non-ferrous metals to be cast. It is versatile enough in the usage of the material and the relatively low-cost molds such that it suits both high-volume production as well as custom, low-volume projects. Another advantage is that it is possible to reuse the sand and the facility of the process lends itself to its wide usage. It is still the most widely followed method for larger, heavier parts and applications requiring high durability though despite the existence of more precise methods like investment and die casting.
By Type: The greatest concentration of foundry products is in ferrous metal foundries. This is because most of the key industries of automotive, construction, and heavy machinery use ferrous metals, like iron and steel, that possess high strength and durability together with good resistance to wear. Demand for steel and iron castings in infrastructure development and large-scale industrial manufacturing adds to the dominance of ferrous foundries. Though aluminum and copper are picking up speed with their lightweight and corrosion-resistant properties, ferrous metal foundries are still on top since the applications in which they are used are always heavy-duty, requiring strong and durable material for use over long periods.
By Application: The primary application for foundries is the automobile industry as a result of the strong demand for cast metal parts in the vehicle manufacturing industry. Mainly, automobile blocks, transmission housings, brake components, and other critical parts in the car require castings. These parts are manufactured by foundries using materials like iron and aluminum, which demonstrate strength, durability, and resistance to heat, thus assuring their usage in vehicles. The position of the automotive industry is further solidified with continued growth, primarily driven by increasing global demand for vehicles, coupled with technology, including electric vehicles (EVs). The demand for lightweight and more efficient fuel consumption in modern vehicles increases the adoption of advanced casting techniques and has made the automobile sector the highest consumer of foundry products.
Study Period
2024-2030Base Year
2023CAGR
4.2%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The major driver for the foundries market is a surge in the demand for metal castings in various industry sectors, including automotive, aerospace, and construction. The growth of manufacturing industries coupled with emerging casting technologies improves productivity and quality, which further accelerates the market growth. There is also an increase in infrastructure development as well as investment in renewable energy projects that require an even greater increase in metal casting components.
Foundries market also has a few restraint factors, such as high production costs associated with raw materials and labor. Besides, stringent environmental regulations that circumscribe emissions and waste can lead to increased costs of compliance and operational issues. The availability of skilled labor is increasingly becoming a concern, as the industry requires specialized training and expertise, which in turn limits production capabilities.
Opportunities in the foundries market are related to growth in high-value-added material and innovative casting processes such as 3D printing and automation that enhance efficiency and sustainability. Also, there is a trend nowadays to increase the use of recycled materials to reduce waste and lower the cost of production. Additionally, the increased demand for lightweight, high-performance components in various applications creates opportunities for the market.
The top trends in foundries are moving toward a greener foundry practice: keeping the operations and source of materials as energy-efficient and low environmental footprint as possible. Digital technologies, such as IoT and data analytics, are changing the face of production processes. This transformation has led to better operational efficiency and quality of products. Increasing application of simulation software in the design of castings and development of the process is helping in more decision-making and faster time-to-market of new products.
The U.S. foundries market is a major player in the world's foundry industry, largely driven by high-demand sectors such as automobile, aeronautics, and defense. U.S. foundries have been embracing automation, 3D printing, and digital tools for increased efficiency and cost reduction with an emphasis on advanced manufacturing technologies.
In that regard, most countries have encouraged the implementation of environmentally friendly practices such as energy-efficient activities and the use of recycled materials. Nevertheless, the industry is highly regulated by the law on environmental matters and lacks experienced workers. The United States, on the other hand, will continue to invest in innovation and green foundry practice moving it ahead in high-quality and sustainable metal casting production.
North America is the biggest market driven by a robust automotive and aerospace sector. The region majorly focuses on advanced technologies and automation in manufacturing but has also had to abide by critical environmental regulations.
Europe follows the same trend, and Germany, France, and Italy are among the highest contributors in that continent. The castings produced here are high-quality products, with some such casting processes originating first in Europe. European foundries are becoming more sustainable, mainly due to stiff environmental laws and carbon emissions goals.
Latin America and Middle East & Africa are emerging markets growing through infrastructure investment and industrialization. However, these regions face high-restricted technology adoption as well as environmental issues.
Asia-Pacific presently leads the market with a high share of around 45% whereby rapid industrialization and urbanization in countries like China, India, and Japan dominate the market. Robust demand for foundry chemicals pervades most industries in this region. Thus, the global market for foundry chemicals is predominantly concentrated in the Asia Pacific region, where China and India together hold more than 50% market share.
China is the most significant player in the Asia-Pacific market, mainly due to a large industrial base and investment by the government in new technology to modernize the foundry processes. Other competitive features of this region are lower labor costs and increasing investments in superior casting technologies.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2023 |
US$ 135.2 billion |
|
Market CAGR |
4.2% |
|
By Casting Process |
|
|
By Type |
|
|
By Application |
|
|
By Region |
|
Download Free Sample Report
The global foundries market size was valued at US$ 135.2 billion in 2023, at a CAGR of 4.2% over the forecast years (2024-2030).
The rising demand for metal castings by diverse end-use industries such as automotive, aerospace, and construction will continue to drive the market for foundries. The expansion of the manufacturing sector and development in casting technologies are also buoying expansion in this market are the drivers in the foundries market.
• Shift towards green foundry practices
• Utilization of recycled materials
• Digitalization of the production process to optimize operational efficiency
• Reduce environmental impact.
Aditya Birla Management Corp. Pvt. Ltd., Ashok Iron Works P Ltd., Brakes India Pvt. Ltd., CALMET, and Cooper Corp. Pvt. Ltd., are the key companies in the foundries market.
Market research report segments covered by casting process, type, application, and region
| 1.Executive Summary |
| 2.Global Foundries Market Introduction |
| 2.1.Global Foundries Market - Taxonomy |
| 2.2.Global Foundries Market - Definitions |
| 2.2.1.Casting Process |
| 2.2.2.Type |
| 2.2.3.Application |
| 2.2.4.Region |
| 3.Global Foundries Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Foundries Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Foundries Market By Casting Process, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Sand Casting |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Investment Casting |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Die Casting |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Permanent Casting |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Foundries Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Ferrous Metal Foundries |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Nonferrous Metal Foundries |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Foundries Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Automobile |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Pipes and Fittings |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Agricultural Machinery |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Electrical Equipment |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Machine Tools |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Foundries Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Foundries Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Casting Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Sand Casting |
| 9.1.2.Investment Casting |
| 9.1.3.Die Casting |
| 9.1.4.Permanent Casting |
| 9.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Ferrous Metal Foundries |
| 9.2.2.Nonferrous Metal Foundries |
| 9.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Automobile |
| 9.3.2.Pipes and Fittings |
| 9.3.3.Agricultural Machinery |
| 9.3.4.Electrical Equipment |
| 9.3.5.Machine Tools |
| 9.3.6.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Foundries Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Casting Process Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Sand Casting |
| 10.1.2.Investment Casting |
| 10.1.3.Die Casting |
| 10.1.4.Permanent Casting |
| 10.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Ferrous Metal Foundries |
| 10.2.2.Nonferrous Metal Foundries |
| 10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Automobile |
| 10.3.2.Pipes and Fittings |
| 10.3.3.Agricultural Machinery |
| 10.3.4.Electrical Equipment |
| 10.3.5.Machine Tools |
| 10.3.6.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Foundries Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Casting Process Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Sand Casting |
| 11.1.2.Investment Casting |
| 11.1.3.Die Casting |
| 11.1.4.Permanent Casting |
| 11.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Ferrous Metal Foundries |
| 11.2.2.Nonferrous Metal Foundries |
| 11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Automobile |
| 11.3.2.Pipes and Fittings |
| 11.3.3.Agricultural Machinery |
| 11.3.4.Electrical Equipment |
| 11.3.5.Machine Tools |
| 11.3.6.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Foundries Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Casting Process Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Sand Casting |
| 12.1.2.Investment Casting |
| 12.1.3.Die Casting |
| 12.1.4.Permanent Casting |
| 12.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Ferrous Metal Foundries |
| 12.2.2.Nonferrous Metal Foundries |
| 12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Automobile |
| 12.3.2.Pipes and Fittings |
| 12.3.3.Agricultural Machinery |
| 12.3.4.Electrical Equipment |
| 12.3.5.Machine Tools |
| 12.3.6.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Foundries Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Casting Process Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Sand Casting |
| 13.1.2.Investment Casting |
| 13.1.3.Die Casting |
| 13.1.4.Permanent Casting |
| 13.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Ferrous Metal Foundries |
| 13.2.2.Nonferrous Metal Foundries |
| 13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Automobile |
| 13.3.2.Pipes and Fittings |
| 13.3.3.Agricultural Machinery |
| 13.3.4.Electrical Equipment |
| 13.3.5.Machine Tools |
| 13.3.6.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Aditya Birla Management Corp. Pvt. Ltd. |
| 14.2.2.Ashok Iron Works P Ltd |
| 14.2.3.Brakes India Pvt. Ltd |
| 14.2.4.CALMET |
| 14.2.5.Cooper Corp. Pvt. Ltd |
| 14.2.6.DCM Ltd |
| 14.2.7.Electrosteel Castings Ltd |
| 14.2.8.Fortune Foundries Pvt. Ltd |
| 14.2.9.Gujarat Metal Cast Industries Pvt. Ltd |
| 14.2.10.Hackforth Holding GmbH & Co. KG |
| 14.2.11.Jayaswal Neco Industries Ltd |
| 14.2.12.JSW STEEL Ltd |
| 14.2.13.Kalyani Group |
| 14.2.14.Kirloskar Ferrous Industries Ltd |
| 14.2.15.Larsen and Toubro Ltd |
| 14.2.16.Menon and Menon Ltd |
| 14.2.17.Nelcast Ltd |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Download Free Sample
