North America and Europe Metal Casting Market
No. of Pages: 130 | Report Code: BMIRE00028859 | Category: Chemicals and Materials
No. of Pages: 130 | Report Code: BMIRE00028859 | Category: Chemicals and Materials
Metal Casting are produced with precise technology, high-quality raw materials, and a strong emphasis on safety and further utilized for the desired products manufacturing. The North America and Europe metal casting market is segmented by product type, technology, application, and region.
Metal casting manufacturers focus on expanding their product portfolio and targeting new customer base through geographical expansion strategies. Diversification in terms of geography reduces the company’s dependency on specific location for revenue generation and mitigates risk associated with market fluctuation. Companies seek opportunities to expand their geographic presence in several locations in North America and Europe. In 2021, Kent Foundry planned a US$ 3.5 million expansion project to manufacture gray and ductile iron castings in the US. In 2021, Brinco Planning Indiana steel foundry announced plans to open a steel casting plant in Indiana, US, with an investment of US$ 35 million. The plant is aimed to produce rail components. In 2021, The CA Lawton Co acquired Penn-Mar, a gray and ductile iron foundry in Pennsylvania, the US. Penn-Mar manufactures multi-cored, gray, and ductile iron castings ranging from 68 to 2,268 kgs. In 2021, Neenah Enterprises acquired an 18.7-acre manufacturing facility for US Foundry & Manufacturing Corp, for US$ 17.43 million, in Florida, the US. Further, collaborative efforts with research institutions, universities, and other companies allowed metal casting businesses to access expertise and develop novel solutions. In 2021, Qualcomm, a semiconductor supplier, announced interest in working in partnership with foundries in Europe, if incentive programs to drive automotive chip production in Europe attract the right partners. Therefore, strategic expansion strategies by several market players are expected to create lucrative opportunities in the North America and Europe metal casting market during the forecast period.
Based on Application, the North America and Europe metal casting market is segmented into Automotive, Aerospace, Marine, Textile, Building and Construction, Oil and Gas, Industrial Machinery, and Others. In 2022, the automotive segment held the largest share in North America and Europe metal casting market. The aerospace is another attractive segment in North America and Europe metal casting market. The aerospace industry requires products manufactured with precise dimensions. Thus, metal casting is used for manufacturing and designing small and large aviation components. The metal-casted products are highly affordable and suitable for commercial and military sectors, especially for fighter planes.
A few major primary and secondary sources referred to for preparing this report on the North America and Europe metal casting market are paid databases (factiva), publications, hoovers, investor presentations, newsletter, sec archives, annual reports, and other information available in public domain. Orica Limited, Al Fajar Al Alamia Co SAOG, Dyno Nobel, China Poly Group Corporation, NOF Corporation, Hanwha Group, Anhui Jiangnan Chemical Co Ltd, Koryo Nobel Explosives, Solar Group, and Omnia Group Company are some of the major players operating in the North America and Europe metal casting market.
The North America and Europe Metal Casting Market is valued at US$ 14,622.75 Million in 2022, it is projected to reach US$ 20,353.54 Million by 2030.
As per our report North America and Europe Metal Casting Market, the market size is valued at US$ 14,622.75 Million in 2022, projecting it to reach US$ 20,353.54 Million by 2030. This translates to a CAGR of approximately 4.2% during the forecast period.
The North America and Europe Metal Casting Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America and Europe Metal Casting Market report:
The North America and Europe Metal Casting Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America and Europe Metal Casting Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America and Europe Metal Casting Market value chain can benefit from the information contained in a comprehensive market report.
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