Non-ferrous castings market to grow a CAGR of 6.57% from 2022 to … – Yahoo Finance

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!
Vendor landscape
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
Application
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.
Type
Geography
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
Companies Mentioned
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
Minerals Technologies Inc.
What's new?
Special coverage on the RussiaUkraine 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!
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Non-ferrous Castings Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 6.57%
Market growth 2023-2027
11,099.32 thousand MTPA
Market structure
Fragmented
YoY growth 2022-2023 (%)
5.83
Regional analysis
APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 62%
Key countries
US, China, Japan, India, and Germany
Competitive landscape
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.
Market dynamics
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.
Customization purview
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
11.1 Overview
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 Appendix
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
About Us
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.
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