Dublin, Nov. 22, 2021 (GLOBE NEWSWIRE) -- The "Iron Casting Market Size, Share & Trends Analysis Report By Product (Malleable, Gray, Ductile), By Application (Automotive, Machinery & Tools, Railways), By Region (APAC, Europe), And Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global iron casting market size is expected to reach USD 136.55 billion by 2028., expanding at a CAGR of 6.1% over the forecast period. The recent outbreak of COVID-19 has hada significant impact on the iron casting demand, which has hindered market growth.
The decline in growth and production of the European automotive industry owing to the COVID-19 pandemic has affected the demand for iron casting and its raw materials. To recover from their losses, European countries have allocated stimulus packages to revive the economy and several industries, such as automotive. For instance, in September 2020, the France government announced around USD 118.3 billion to reduce the economic impact of the pandemic.
The automotive industry is anticipated to benefit the overall market in the long term, but its growth was majorly affected in the first half of 2020 in North America. The auto plants resumed their operations in the U.S. and Canada in mid-May 2020, however, most players in Mexico did not resume operations even by the end of May 2020. Auto plants in Mexico operated at minimal capacity, which impacted the trade supply among the North American countries.
Asia Pacific was also majorly impacted due to the pandemic. However, the countries are reporting quick recovery, especially China. The rapid growth in the construction & infrastructural projects in the region is expected to spur the product demand for applications in pipes & fittings. In addition, the growth of the automotive industry from the second quarter of 2020 onwards is expected to boost the product demand.
Automotive and machinery & tools were the largest application segments in 2020. Other applications, such as pipes & fittings, pots & utensils, shipbuilding, electronic equipment, wind turbine, tractors, heavy-duty vehicles, agriculture, textile, and paper, are also projected to witness significant growth over the coming years.
Iron Casting Market Report Highlights
- The gray iron product segment led the market in 2020 and will expand at the fastest CAGR from 2021 to 2028
- Properties of gray iron, such as good resistance, machin ability, and high compressive strength, are projected to boost its demand
- The railways application segment is projected to register the fastest CAGR over the forecast period
- The growth is likely to be driven by the focus of various governments to improve their country's transportation infrastructure
- Asia Pacific was the largest regional market in 2020. The region is characterized by rising industrial production and the presence of some of the fastest-growing economies, such as China and India
- Key companies are focusing on maintaining and improving their market share with various organic and inorganic strategies
- Companies are likely to observe growing sales over the next few years owing to the rising prices of raw materials
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Iron Casting Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Market Entry Strategies
Chapter 4. Iron Casting Market: Product Estimates & Trend Analysis
4.1. Application Movement Analysis & Market Share, 2020 & 2028
4.2. Gray Iron
4.2.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
4.3. Ductile Iron
4.3.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
4.4. Malleable Iron
4.4.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
Chapter 5. Iron Casting Market: ApplicationEstimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2020 & 2028
5.2. Automotive
5.2.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
5.3. Machinery & Tools
5.3.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
5.4. Pipes & Fittings
5.4.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
5.5. Railways
5.5.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
5.6. Power Generation
5.6.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
5.7. Others
5.7.1. Market estimates and forecast, 2017 - 2028 (Kilotons, USD Billion)
Chapter 6. Iron Casting Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Analysis
7.1. Key global players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. List of raw material suppliers
7.3.2. List of key end-users
Chapter 8. Company Profiles
8.1. Hitachi Metals, Ltd
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Brakes India Private Limited
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. Dandong Foundry
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. GIS
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. OSCO Industries, Inc.
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Chamberlin plc
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. Crescent Foundry
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. Xinxing Ductile Iron Pipes Co. Ltd.
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. Jinan Meide Casting Co Ltd
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Tianjin New Wei San Industrial Co., Ltd
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/7eh1uo
