Metal Casting Market expected to show significant growth over the forecast period
The global metal casting market size is expected to reach USD 210.40 billion by 2030, accelerating at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. Expansion of the construction sector due to infrastructure requirement and housing needs is one of the key drivers for market growth. An increase in urbanization trend in China and India is a key factor triggering the growth of housing and infrastructure industries. Incentives and funding for first-time home buyers are triggering the growth of building & construction industry. Governments across various countries are offering incentives and funding to meet the housing needs of growing population.
Aluminum casting segment is projected to grow at the highest CAGR of 8.7% over the forecast period. As per a report by The Aluminum Association, total aluminum content in vehicles is projected to reach 256 kg per vehicle by 2025, globally. Strict regulations such as Euro 6c emission standards in the European Union are contributing to the growth of the market. It has become necessary for automakers to reduce the weight of vehicles using lightweight materials such as aluminum and magnesium.
Gather more insights about the market drivers, restrains and growth of the Global Metal Casting Market
Steel segment is anticipated to grow at a moderate CAGR on account of demand from automotive components. As per the World Steel Association, around 900 kg of steel is required per vehicle. Around 34% of steel is used in doors, panels, closures, and body structure parts. The growing usage of advanced high strength steel (AHSS) is projected to create new opportunities for metal casting vendors as it reduces the weight of a vehicle and also enhances fuel efficiency and safety. Many research institutes and private organizations are working on new grades of AHSS. These grades have capabilities to reduce the vehicle weight by 25% to 39% and help achieve 3 to 4.5 tons of greenhouse gas savings over the life cycle of a vehicle.
Metal casting industry faces various challenges including underutilization of capacity, optimization of resources, high energy consumption, stringent norms, and overall effectiveness. Metal casting manufacturers are likely to focus on industrial internet of things (IIoT) over the coming years as IIoT has the potential to control and monitor the temperature of foundries, machinery downtime tracking, and enhance resource management.
Metal Casting Market Report Highlights
- The aluminum segment accounted for the largest revenue share of 38.3% in 2022. The major portion of the demand in this segment is projected to come from emerging markets, especially from the automotive, construction, and oil & gas sectors.
- The automotive segment held the largest revenue share of 59.5% in 2022. The global automotive production has been observing gradual yet encouraging growth in global automotive production over recent years.
- Asia Pacific dominated the market and accounted for the largest revenue share of 55.4% in 2022. Asia Pacific is characterized by the presence of skilled labor at low cost, which makes it the most lucrative region for manufacturers to set up production facilities.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
- Luxury Furniture Market: The global luxury furniture market size was valued at USD 31.06 billion in 2024 and is expected to grow at a CAGR of 4.2% from 2025 to 2030.
- Green Steel Market: The global green steel market size was estimated at USD 718.30 billion in 2024 and is projected to grow at a CAGR of 6.0% from 2025 to 2030.
Metal Casting Market Segmentation
Grand View Research has segmented the global metal casting market based on material, application, and region:
Metal Casting Material Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
- Iron
- Steel
- Aluminum
- Others
Metal Casting Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
- Automotive & Transportation
- Industrial
- Building & Construction
- Others
Metal Casting Regional Outlook (Revenue in USD Million, Volume, Kilotons, 2018 - 2030)
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Indonesia
- Malaysia
- Central & South America
- Brazil
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Nigeria
Order a free sample PDF of the Metal Casting Market Intelligence Study, published by Grand View Research.
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