Body Assembly Application To Revolutionize The Metal Casting Market In The Forecast Period.

Metal casting is used to achieve desired dimension accuracy and surface finishing through the choice of process in various industries. Furthermore, the metal casting process provides multiple powertrains and body structure components manufactured using lightweight materials such as aluminum, magnesium, zinc, and others. The increased adoption of simulation-based models to reduce operational costs and waste is now becoming one of the major trends to gain attraction for the metal casting market in the near future.

The increasing adoption of digital radiotherapy and X-ray casting defect recognition is projected to drive metal casting market growth in the coming years. The demand for X-ray casting defect recognition is increasing in production processes owing to software integrated with improved algorithms and numerous technological upgrades. Moreover, increasing demand from the defense, aerospace, and telecom industries may raise the demand for products in the near future. According to American Foundry Society, 90% of manufactured goods contain some metal casting. For instance, in 2014, according to the Modern Casting Census of World Casting Production, casting growth of 2.3% was estimated from 2013 to 2014. Furthermore, worldwide casting production reached 104.1 million metric tons in 2015, as compared to 103.7 million metric tons produced in 2014.

Segmental Insights

Global metal casting market is segmented by process, application, material type, components, and end user.

On the basis of the process, High Pressure Die Casting (HPDC) segment is expected to lead in the market owing to its quick, reliable and cost-effective manufacturing process for production of high volume, metal components that are net-shaped have tight tolerances. They also offers remarkable properties such as light weight capabilities, high strength and flexible for creating complex shapes.

On the basis of the application, Body assembly components are extensively used for manufacturing metal casting. Major contribution of body assembly in the overall vehicle weight and increasing use of lightweight materials in body assembly components are the key factors which may raise the demand of product in the metal casting market.

On the basis of material type, global metal casting market is segmented into aluminum, cast iron, magnesium, zinc, and others. Aluminum material is widely used in automotive sector and also extensively used for metal casting due to its superior properties such as durability, and it is lighter than steel. Die casting process used aluminum material with high thermal conductivity which is advantage in any application where it is desirable to conduct or dissipate heat quickly and uniformly.

On the basis of components, metal casting market is segmented into alloy wheels, battery housing, cross car beam, clutch casing, crank cases, cylinder heads, engine block, differential cover housing, engine mount, flywheel housing, front door and rear door frame, exhaust & intake manifold, gearbox housing, ignition & lock housing, transmission housing & turbocharger housing, and others.

On the basis of end user, metal casting market is segmented into automotive, medical devices manufacturer, chemical and other. Engine downsizing is a major trend that is altering the market dynamics of the automotive sector. Passenger car segment is likely to lead the metal casting market owing to increase in production and sales of passenger cars in developing regions.