Comprehensive historical analysis of Global Market for Iron & Steel Casting has thoroughly analyzed in this report. It offers data and insights from 2019-2022, and provides extensive market forecasts from 2023-2032 by region/country and subsectors. It covers the price, sales volume, revenue, historical growth, gross margin, and future outlooks for the Iron & Steel Casting market.
Global Iron & Steel Casting Market Size is Expected to reach USD 2,490 Billion by 2030, at a CAGR of 5.5% during the forecast period 2022 to 2030.
The report includes growth prospects in the global Iron & Steel Casting market by type, application, sub segement and region and QMI has compiled a comprehensive detailed research report to offer insights. The report details consumption in the Advanced Materials and other sectors. Regional coverage spans North America, Europe, and rest of the world including Asia Pacific.
What is Iron & Steel Casting?
Casting involves pouring molten iron or steel into a mold to produce complex shapes with high dimensional accuracy. It is a critical process for manufacturing components that require strength, wear resistance, and load-bearing capabilities—all at competitive costs.
Market Overview
The global Iron & Steel Casting Market is witnessing consistent demand, driven by expansion in construction, transportation, agriculture, energy, and manufacturing sectors. With technological advancements in casting techniques and materials, manufacturers are achieving improved productivity, sustainability, and precision.
List of Key Market Players:
- Arcelor Mittal
- China BaoWu Steel Group Corporation Limited
- Nippon Steel Corporation
- HBIS Group
- Jiangsu Shagang Group
- POSCO HOLDINGS INC.
- Tata Steel
- JFE Steel Corporation
- Shougang Group
- Nucor Corporation
- JSW
- SAIL
- NLMK
- Techint Group
- U.S. Steel Corporation
- Others
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Market split by Segement, can be divided into:
By Type
- Grey Iron
- Malleable Iron
- Ductile Iron
By Application
- Automotive Segment
- Infrastructure & Construction Machine
- Industrial Machinery Segment
Key Growth Drivers
-
Growing Demand in Construction & Infrastructure
Urbanization and large-scale infrastructure projects are fueling demand for cast components in bridges, tunnels, and buildings. -
Automotive Industry Expansion
Lightweight, high-performance cast parts are increasingly used in engines, brakes, and chassis systems. -
Energy & Power Generation Sectors
Castings are essential in wind turbines, gas turbines, pumps, and valves used in oil, gas, and renewable energy systems. -
Advancements in Foundry Technologies
Adoption of automation, 3D printing, and simulation tools is improving casting accuracy and reducing defects. -
Recycling and Circular Economy
Iron and steel castings are highly recyclable, aligning with global sustainability goals.
Market Challenges
-
Volatile raw material prices (especially scrap and alloy metals)
-
Environmental concerns and emission regulations
-
Competition from alternative manufacturing methods (e.g., forging, 3D metal printing)
Future Outlook
The Iron & Steel Casting Market is expected to grow steadily through 2030, driven by modern infrastructure needs, electric vehicle production, and renewable energy projects. Eco-friendly casting processes and smart foundry automation will be key differentiators in the coming years.
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In July 2020, A licence agreement for the use of a hot stamping technology owned by Arcelor Mittal was signed by Hyundai Steel. According to the agreement, Hyundai Steel is free to conduct manufacturing and sales operations aggressively in China, Korea, and ASEAN member states without fear of violating any patents.
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Whats covered in the report?
1. Overview of the Iron & Steel Casting market.
2. The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa) market size data for the Iron & Steel Casting market, based on segement.
3. Iron & Steel Casting Market trends.
4. Iron & Steel Casting Market drivers.
5. Analysis of major company profiles.
Reasons to buy this Market Report:
1. Save time carrying out entry-level research by identifying the size, growth, and leading players in the emerging Iron & Steel Casting market.
2. Use the SWOT analysis to determine the competitive intensity and therefore attractiveness of the emerging Iron & Steel Casting Industry.
3. Leading company profiles reveal details of key Iron & Steel Casting market players emerging five operations and financial performance.
4. Add weight to presentations and pitches by understanding the future growth prospects of the emerging Iron & Steel Casting market with five year historical forecasts.
5. Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region.
6. Extensive information on factors that will amplify the growth of the Iron & Steel Casting market over the upcoming seven years
7. Accurate estimation of the global Iron & Steel Casting market size
8. Exact estimations of the upcoming trends and changes observed in the consumer behavior
9. Growth of the global Iron & Steel Casting market across the North & South America, EMEA, Asia Pacific, and Latin America
10. Information about Iron & Steel Casting market growth potential
11. In-depth analysis of the industry’s competitive landscape and detailed information vis-a-vis on various vendors
12. Furnishing of detailed information on the factors that will restrain the growth of the Iron & Steel Casting market
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