Research report focuses on top companies and crucial drivers, current growth dynamics, futuristic opportunities, and new product/project launches
NEW YORK, April 24, 2023 /PRNewswire/ — The non-ferrous castings market size is expected to grow by 11,099.32 thousand MTPA at a CAGR of 6.57% from 2022 to 2027, according to the latest research report from Technavio. The increased use of simulation-based castings is driving market growth. Simulation-based casting technology is used in metal casting industries and foundries. It is a software that provides a virtual casting process, such as mold filling, cooling, and solidification. It helps in identifying the location of internal defects and optimizing the design and process methods of casting. It is also used for the production of economical, reliable, and accurate cast components. Non-ferrous casting manufacturers use many advanced technologies. Thus, the use of simulation-based casting has fueled the demand for non-ferrous castings. Make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View a sample report!
The non-ferrous castings market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Key vendors have production facilities globally. Many regional vendors are also present in the market. Key vendors provide a wide range of products used in various applications. The competitive environment in the market is expected to intensify over the next five years, with the extension of product applications and innovation. Moreover, M&A and joint ventures will further intensify the competition due to the increase in demand for automobile and industrial machinery. Vendors compete on factors such as the cost of production, innovation, price, operational cost, R&D cost, and product quality. These factors will drive the growth of the market during the forecast period. The key offerings of some of these vendors are listed below:
Alcast Technologies Ltd. – The company offers non-ferrous casting solutions such as sand casting for aluminum.
Alcoa Corp. – The company offers non-ferrous casting such as A210 ExtruStrong, 370 EZCast, C611 EZCast, C891F EZCastPlus, and 351 SupraCast.
Andritz AG – The company offers non-ferrous casting solutions such as PZS Series and PSM Series.
Castwel Foundries – The company offers non-ferrous casting solutions for gears, bushings, artware, and furniture.
For market's vendor landscape highlights with a comprehensive list of vendors and their offerings – View a sample
Key market segmentation
The automobiles segment will account for a significant share of market growth during the forecast period. Non-ferrous casting products are lightweight, low-cost, and easy to manufacture. Hence, they are widely used in the automotive industry. Zinc and aluminum die casting are the two most commonly used non-ferrous castings. Among these, aluminum die castings dominate the automobile industry due to their energy efficiency, recyclability, and performance. These factors will drive the growth of the segment during the forecast period.
View a sample report The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market.
Regional market outlook
APAC is estimated to account for 62% of the growth of the global market during the forecast period. The economic growth in the region has led to the growth of major end-user industries, such as automobiles, electrical and construction, and industrial machinery. The automotive market is growing significantly in APAC due to the high demand from India, Indonesia, Thailand, and Vietnam. This, in turn, is fueling the demand for casting components by automobile manufacturers. These factors will drive the growth of the market in the region during the forecast period.
For more key highlights on the regional market share of most of the above-mentioned countries – View a sample report
The non-ferrous castings market covers the following areas:
Non-ferrous castings market sizing
Non-ferrous castings market forecast
Non-ferrous castings market analysis
Alcast Technologies Ltd.
Elecon Engineering Co. Ltd.
FSE Foundry Ltd.
Georg Fischer Corp.
Hitachi Metals Ltd.
Inova Cast Pvt. Ltd.
MAGMA Gießereitechnologie GmbH
Martinrea Honsel Germany GmbH
MRT Castings Ltd.
Norwood Foundry Ltd.
Precision Castparts Corp.
The Innovative Shapecasting Group
Toyota Motor Corp.
Minerals Technologies Inc.
Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints – Strong/active/niche/trivial – Buy the report!
The steel casting market size is expected to increase by 3,274.74 thousand million tonnes per annum from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.19%. Furthermore, this report extensively covers market segmentation by application (automotive and transportation, construction and infrastructure, mining, power, and others) and geography (APAC, North America, Europe, the Middle East and Africa, and South America).
The iron castings market is estimated to grow at a CAGR of 5.15% between 2022 and 2027. The size of the market is forecast to increase by 23,204.12 thousand tons. This report extensively covers market segmentation by end-user (automobile, industrial machinery, infrastructure and construction machines, power, and others), product (gray iron, duct iron, and malleable iron), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Non-ferrous Castings Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6.57%
Market growth 2023-2027
11,099.32 thousand MTPA
YoY growth 2022-2023 (%)
APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 62%
US, China, Japan, India, and Germany
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled
Alcast Technologies Ltd., Alcoa Corp., Andritz AG, Castwel Foundries, Elecon Engineering Co. Ltd., Form Technologies, FSE Foundry Ltd., Georg Fischer Corp., Hitachi Metals Ltd., Inova Cast Pvt. Ltd., MAGMA Gießereitechnologie GmbH, Martinrea Honsel Germany GmbH, MRT Castings Ltd., Norwood Foundry Ltd., Precision Castparts Corp., The Innovative Shapecasting Group, Toyota Motor Corp., Vesuvius Plc, voestalpine AG, and Minerals Technologies Inc.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio Materials market reports
Key Topics Covered:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global non-ferrous castings market 2017 – 2021
4.2 Application Segment Analysis 2017 – 2021
4.3 Type Segment Analysis 2017 – 2021
4.4 Geography Segment Analysis 2017 – 2021
4.5 Country Segment Analysis 2017 – 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Application
6.1 Market segments
6.2 Comparison by Application
6.3 Automobiles – Market size and forecast 2022-2027
6.4 Electrical and construction – Market size and forecast 2022-2027
6.5 Industrial machinery – Market size and forecast 2022-2027
6.6 Others – Market size and forecast 2022-2027
6.7 Market opportunity by Application
7 Market Segmentation by Type
7.1 Market segments
7.2 Comparison by Type
7.3 Aluminum – Market size and forecast 2022-2027
7.4 Copper – Market size and forecast 2022-2027
7.5 Zinc – Market size and forecast 2022-2027
7.6 Magnesium – Market size and forecast 2022-2027
7.7 Others – Market size and forecast 2022-2027
7.8 Market opportunity by Type
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC – Market size and forecast 2022-2027
9.4 North America – Market size and forecast 2022-2027
9.5 Europe – Market size and forecast 2022-2027
9.6 Middle East and Africa – Market size and forecast 2022-2027
9.7 South America – Market size and forecast 2022-2027
9.8 China – Market size and forecast 2022-2027
9.9 Japan – Market size and forecast 2022-2027
9.10 US – Market size and forecast 2022-2027
9.11 Germany – Market size and forecast 2022-2027
9.12 India – Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Alcast Technologies Ltd.
12.4 Alcoa Corp.
12.5 Andritz AG
12.6 Castwel Foundries
12.7 Elecon Engineering Co. Ltd.
12.8 Form Technologies
12.9 FSE Foundry Ltd.
12.10 Georg Fischer Corp.
12.11 Hitachi Metals Ltd.
12.12 MAGMA Gießereitechnologie GmbH
12.13 Martinrea Honsel Germany GmbH
12.14 Minerals Technologies Inc.
12.15 Precision Castparts Corp.
12.16 Toyota Motor Corp.
12.17 voestalpine AG
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
View original content to download multimedia:https://www.prnewswire.com/news-releases/non-ferrous-castings-market-to-grow-a-cagr-of-6-57-from-2022-to-2027–increased-use-of-simulation-based-castings-to-drive-growth—technavio-301805007.html
Along with the markets’ recent pullback, so has Cathie Wood’s flagship Ark Innovation ETF (ARKK) handed back some of the year’s prior gains. Nevertheless, it has still outpaced the broader markets this year. And despite growing bearish macro concerns, looking at how Wood expects the landscape to shape up, the ARK Invest CEO is optimistic her innovation-first approach will continue to deliver. “I do think that what’s happening this year is that the market is starting to look over the Fed’s moves…
Saving $1 million (or more) for retirement is a great goal to have. Putting that much aside could make it easier to live your preferred lifestyle when you retire, without having to worry about running short of money. However, not … Continue reading → The post What Percentage of Retirees Have a Million Dollars? appeared first on SmartAsset Blog.
NVIDIA, e.l.f. Beauty, Walt Disney, Walgreens Boots Alliance and Cintas are part of the Zacks Market Edge blog.
The Dow Jones rose as House Speaker Kevin McCarthy made a government shutdown pledge. A Warren Buffett stock is near an entry. Nvidia rose.
The September sell-off in Dow Jones and S&P 500 stocks is getting so intense, some wonder if it's already overdone.
Structure said Friday its experimental pill helped patients lose more than 5% of their body weight, and the small biotech stock rocketed.
Just because you retire doesn't mean you have to stop working. And when work is an option rather than a requirement, it's possible to select a low-stress job that multiplies fulfillment without adding anxiety – but still provides a bit … Continue reading → The post 12 Low-Stress Jobs You Can Do in Retirement appeared first on SmartAsset Blog.
When Costco lists gold bars for sale online, "they're typically gone within a few hours and we limit two per member," its CFO told investors.
Vladimir Putin will be unable to protect citizens from the pain
Artificial intelligence (AI) has become the hottest trend in the tech sphere. Just take a look at Nvidia Corp. (NASDAQ:NVDA), which has been one of the biggest beneficiaries of investors' increasing enthusiasm for AI. Shares of the chip-making giant have surged 191% year to date, allowing the company to cross $1 trillion in market cap. But according to ARK Invest CEO Cathie Wood, there could be better ways to gain access to the booming sector. "We're really focused on those companies that most p
Cryptos have languished at depressed levels for more than a month. Some analysts see a possible U.S. government shutdown as a catalyst for action.
US stocks rose at the open on Friday, as Wall Street assessed a fresh read on the Federal Reserve's preferred inflation gauge.
BlackBerry's (BB) Q2 performance is affected by a decline in revenues across Cybersecurity and IoT business segments
(Bloomberg) — China Evergrande Group wiped out international investors, roiled financial markets and left thousands of suppliers in the lurch. Yet it was the developer’s failure to pay households who invested in its wealth management products that may have provided the last straw for Chinese authorities.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally UAW Aims For At Least 30% Wage Bump to Woo New MembersTop Chinese Scientist Claims India Moon Landing Nowher
Based on the average brokerage recommendation (ABR), Energy Transfer LP (ET) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?
Former President Donald Trump brought his campaign to Michigan on Wednesday night to ostensibly rally auto workers, but the message received was likely not what the workers wanted to hear. This as the UAW plans to once again expand its stand up strikes on Friday.
A $4 million nest egg will likely allow you to retire comfortably at age 55. The major challenge will be accumulating that much capital by 55 – about a decade before most people stop working. Other issues include the need to … Continue reading → The post Is $4 Million Enough to Retire on at 55? appeared first on SmartAsset Blog.
Chipmaker Intel said on Friday it had begun high-volume production using extreme ultraviolet (EUV) lithography machines at its $18.5 billion plant in Ireland, calling it a "landmark" moment as it seeks to regain ground on its rivals.
The headwinds are beginning to outnumber the tailwinds in the markets.
401(k) contribution limits should continue their upward climb in 2024, according to a recent projection by Mercer. However, easing inflation now means lower forecasts for 401(k) and other retirement plan contribution limits for next year. After rising substantially from $20,500 in 2022 to $22,500 for 2023, Mercer projects the annual cap to go up just […] The post 401(k) Contribution Limits Projected to Rise Again in 2024: How to Plan Ahead appeared first on SmartReads by SmartAsset.
Research report focuses on top companies and crucial drivers, current growth dynamics, futuristic opportunities, and new product/project launches