Iron Casting Market Share and Business Opportunity to 2030

Iron Casting Industry Overview

The global iron casting market size was valued at USD 101.17 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030. Factors including favorable government policies toward the manufacturing sector and investment in rail infrastructure are anticipated to propel market growth.

Owing to the surge in the demand for improved railway connectivity, governments across the globe are investing in rail infrastructure improvement projects. For instance, in October 2021, the French government announced an action plan to double the rail freight by 2030. It is planning to invest EUR 1 billion (USD 1.11 billion) for strengthening the competition among rail freight operators and is expected to further invest EUR 170 million (USD 187.9 million) every year till 2024 for alleviating tracks.

Gather more insights about the market drivers, restrains and growth of the Global Iron Casting Market

U.S. Iron Casting Market size, by product, 2020 - 2030 (USD Billion)

The U.S. holds the largest share of the North American iron casting market on account of the widespread presence of numerous manufacturers and end-users in the country. Large-scale automobile plants, machinery & tool manufacturers, growing demand for pipes & fittings owing to the expanding petrochemical industry, and infrastructural developments are propelling the demand for the product in the country.

In November 2021, the U.S. government passed a USD 1 trillion Bipartisan plan to upgrade the infrastructure of the country, including water systems, airports, railways, power infrastructure, roadways, and bridges. This up-gradation of infrastructure is expected to be completed by 2025, which, in turn, is anticipated to propel the market growth in the country over the forecast period.

The growing demand for castings has boosted competition in the country, which is compelling market players to adopt initiatives such as capacity expansions and mergers & acquisitions. For instance, in February 2021, Victaulic acquired the ductile iron foundry of Waupaca Foundry, Inc. to increase its production capacity by 70% in the U.S. The plant has two foundry molding lines, which is expected to help the company produce at a much larger scale.

The automotive industry has been a prominent end-user of iron castings and dominates the market in terms of revenue and volume share. However, global vehicle production has been witnessing a consistent decline in the past few years, which is an ongoing challenge for the market.

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Market Share Insights

  • February 2022: M7 Group acquired Minnesota-based Cast Corporation Foundry. The acquisition is expected to help M7 Group expand its product portfolio.
  • February 2022: Bharat Forge announced the acquisition of JS Autocast Foundry India, a manufacturer of ductile iron castings for hydraulics, wind energy, automotive, and off highways. The acquisition is anticipated to help Bharat Forge expand its product portfolio as well as manufacturing presence.
  • November 2021: Wisconsin-based Charter Manufacturing acquired Aarrowcast Inc., a gray and ductile iron casting manufacturer. Aarrowcast Inc. has a production capacity of 42,000 tons per year. This acquisition is expected to help Charter Manufacturing to expand the manufacturing of its metal offerings and diversify its customer base.

Key Companies profiled:

Some prominent players in the global iron casting market include

  • Brakes India Private Limited
  • CALMET
  • Casting P.L.C.
  • Chamberlin plc
  • Crescent Foundry
  • Georg Fischer Ltd
  • Grupo Industrial Saltillo (GIS)
  • Hitachi Metals, Ltd
  • LIAONING BORUI MACHINERY CO., LTD (DANDONG FOUNDRY)
  • Newby Foundries Ltd
  • OSCO Industries, Inc
  • Xinxing Cast Pipe Co., Ltd

Order a free sample PDF of the Iron Casting Market Intelligence Study, published by Grand View Research.

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