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North America Metal Casting Market Forecast to 2030 - Regional Analysis - by Product Type, Process, and Application

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    Report

  • 90 Pages
  • January 2024
  • Region: North America
  • The Insight Partners
  • ID: 5954393
The North America metal casting market was valued at US$ 25,810.14 million in 2022 and is expected to reach US$ 38,694.56 million by 2030; it is estimated to grow at a CAGR of 5.2% from 2022 to 2030.

Growing Automotive and Construction Industry Fuels the North America Metal Casting Market

According to a 2022 report by the International Energy Agency, the sales of electric cars doubled in the US in 2021; the sales share increased by 4.5%, and 6.6 million units sold in that year. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2021, North America registered vehicle production of 13.4 million units.

The construction sector in North America is witnessing growth due to a robust economy and increased federal and state financing for commercial and institutional structures in the region. According to a 2022 report by the USA Facts Institute, the federal government of the US passed the Infrastructure Investments and Jobs Act in 2021, allocating US$ 550 billion for new federal infrastructure, including the repair, or rebuilding of bridges, roads, rail, and airports, for the period of 5 years. A rise in investments by governments and private companies in infrastructure building and construction projects fuels the demand for construction materials, specifically metal castings.

Metal castings are crucial components in the manufacturing of engine components, transmission to gearbox components, suspension systems, braking systems, body components, wheels and rims, and other automotive components. Metal castings are also critical structural components in the production of expansion joints, columns, beams, and trusses in the building & infrastructure industry. The production of precise and durable metal casting through advanced manufacturing processes enables the cost-effective production of critical automotive and construction elements. Therefore, the growing automotive and construction industry drives the demand for metal casting.

North America Metal Casting Market Overview

North America has major automotive, aerospace, infrastructure & construction, and machinery companies, contributing significantly to the demand for durable and complex metal components. According to the American Foundry Society, highly engineered metal castings are used to produce most manufactured goods and machinery. North America consists of more than 1,900 metal casting facilities. Further, foundries serve industries such as automotive, construction, agriculture, heavy industrial machinery, aircraft & aerospace, railways, and pipelines in the US, Canada, and Mexico. The rising demand for metal casting from several end-use industries is prompting manufacturers to plan expansion strategies in the region. In 2020, a division of Raytheon Technologies Corp, Pratt & Whitney, announced its plan to invest US$ 650 million through 2027 in a turbine airfoil production facility in North Carolina, US. The production facility was planned to have an advanced casting foundry to produce turbine airfoils. In 2021, Mitsui Kinzoku Die-Casting Technology America built a US$ 20 million facility in Georgia. The facility will produce automotive products. In 2021, IBC Advanced Alloys planned to invest over US$ 5 million to build a copper casting facility. Thus, the expansion of end-use industries and strategic developments by metal casting manufacturers in North America are likely to boost the demand for metal casting during the forecast period.

North America Metal Casting Market Revenue and Forecast to 2030 (US$ Mn)

North America Metal Casting Market Segmentation

The North America metal casting market is segmented into product type, process, application, and country.

Based on product type, the North America metal casting market is segmented into carbon steel alloys, stainless steel alloys, aluminum alloys, grey iron, ductile iron, and others. The grey iron segment held the largest market share in 2022.

Based on process, the North America metal casting market is divided into sand casting, investment casting, gravity die casting, and others. The sand casting segment held the largest market share in 2022.

Based on application, the North America metal casting market is segmented into automotive, aerospace, marine, textile, building and construction, oil and gas, industrial machinery, and others. The automotive segment held the largest market share in 2022.

Based on country, the North America metal casting market is segmented into the US, Canada, and Mexico. The US dominated the North America metal casting market share in 2022.

Alcoa Corp, ArcelorMittal SA, Lucchini RS SpA, MEDEKO CAST Sro, Novacast Ltd, Posco Holdings Inc, and Tycon Alloy Industries (HongKong) Co Ltd are some of the leading companies operating in the North America metal casting market.

Reasons to Buy
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America metal casting market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in North America metal casting market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Table of Contents

1. Introduction
1.1 REPORT GUIDANCE
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
2.2.1 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Metal Casting Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers:
4.3.2 Manufacturers:
4.3.3 Distributors or Suppliers:
4.3.4 End Use Industry:
4.4.................................................................................. List of Vendors in the Value Chain
5. North America Metal Casting Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Automotive and Construction Industry
5.1.2 Rising Demand for Industrial Machineries
5.2 Market Restraints
5.2.1 Availability of Metal Casting Alternatives
5.3 Market Opportunities
5.3.1 Strategic Expansion Activities
5.4 Future Trends
5.4.1 Advancements in Casting Technologies
5.5 Impact Analysis
6. Metal Casting Market - North America Market Analysis
6.1 North America Metal Casting Market Volume (Kilo Tons)
6.2 North America Metal Casting Market Revenue (US$ Million)
6.3 North America Metal Casting Market Forecast and Analysis
7. North America Metal Casting Market Analysis - Product Type
7.1 Carbon Steel Alloys
7.1.1 Overview
7.1.2 Carbon Steel Alloys Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.2 Stainless Steel Alloys
7.2.1 Overview
7.2.2 Stainless Steel Alloys Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.3 Aluminum Alloys
7.3.1 Overview
7.3.2 Aluminum Alloys Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.4 Grey Iron
7.4.1 Overview
7.4.2 Grey Iron Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.5 Ductile Iron
7.5.1 Overview
7.5.2 Ductile Iron Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others Market Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
8. North America Metal Casting Market Analysis - Process
8.1 Sand Casting
8.1.1 Overview
8.1.2 Sand Casting Market, Revenue and Forecast to 2030 (US$ Million)
8.2 Investment Casting
8.2.1 Overview
8.2.2 Investment Casting Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Gravity Die Casting
8.3.1 Overview
8.3.2 Gravity Die Casting Market, Revenue and Forecast to 2030 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
9. North America Metal Casting Market Analysis - Application
9.1 Automotive
9.1.1 Overview
9.1.2 Automotive Market, Revenue, and Forecast to 2030 (US$ Million)
9.2 Aerospace
9.2.1 Overview
9.2.2 Aerospace Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Marine
9.3.1 Overview
9.3.2 Marine Market Revenue and Forecast to 2030 (US$ Million)
9.4 Building and Construction
9.4.1 Overview
9.4.2 Building and Construction Market Revenue and Forecast to 2030 (US$ Million)
9.5 Oil and Gas
9.5.1 Overview
9.5.2 Oil and Gas Market Revenue and Forecast to 2030 (US$ Million)
9.6 Industrial Machinery
9.6.1 Overview
9.6.2 Industrial Machinery Market Revenue and Forecast to 2030 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)
10. North America Metal Casting Market - Country Analysis
10.1 Overview
10.1.1 North America Metal Casting Market Revenue and Forecasts and Analysis - By Countries
10.1.1.1 North America Metal Casting Market Breakdown by Country
10.1.1.2 US: North America Metal Casting Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.1.3 US: North America Metal Casting Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.3.1 US: North America Metal Casting Market Breakdown by Product Type
10.1.1.3.2 US: North America Metal Casting Market Breakdown by Product Type
10.1.1.3.3 US: North America Metal Casting Market Breakdown by Process
10.1.1.3.4 US: North America Metal Casting Market Breakdown by Application
10.1.1.4 Canada: North America Metal Casting Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.1.5 Canada: North America Metal Casting Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.5.1 Canada: North America Metal Casting Market Breakdown by Product Type
10.1.1.5.2 Canada: North America Metal Casting Market Breakdown by Product Type
10.1.1.5.3 Canada: North America Metal Casting Market Breakdown by Process
10.1.1.5.4 Canada: North America Metal Casting Market Breakdown by Application
10.1.1.6 Mexico: North America Metal Casting Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.1.7 Mexico: North America Metal Casting Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.7.1 Mexico: North America Metal Casting Market Breakdown by Product Type
10.1.1.7.2 Mexico: North America Metal Casting Market Breakdown by Product Type
10.1.1.7.3 Mexico: North America Metal Casting Market Breakdown by Process
10.1.1.7.4 Mexico: North America Metal Casting Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis By Key Players
11.2 Company Positioning & Concentration
11.3 Company Profitability Margin
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Lucchini RS SpA
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Posco Holdings Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 ArcelorMittal SA
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Alcoa Corp
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 MEDEKO CAST Sro
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Tycon Alloy Industries (HongKong) Co Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Novacast Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
List of Tables
Table 1. North America Metal Casting Market Segmentation
Table 2. List of Raw Material Suppliers
Table 3. List of Manufacturers
Table 4. North America Metal Casting Market Volume and Forecasts To 2030 (Kilo Tons)
Table 5. North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million)
Table 6. North America Metal Casting Market Volume and Forecasts To 2030 (Kilo Tons) - Product Type
Table 7. North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - Product Type
Table 8. North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - Process
Table 9. North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - Application
Table 10. US: North America Metal Casting Market Volume and Forecasts To 2030 (Kilo Tons) - By Product Type
Table 11. US: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Product Type
Table 12. US: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Process
Table 13. US: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 14. Canada: North America Metal Casting Market Volume and Forecasts To 2030 (Kilo Tons) - By Product Type
Table 15. Canada: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Product Type
Table 16. Canada: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Process
Table 17. Canada: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 18. Mexico: North America Metal Casting Market Volume and Forecasts To 2030 (Kilo Tons) - By Product Type
Table 19. Mexico: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Product Type
Table 20. Mexico: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Process
Table 21. Mexico: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million) - By Application
Table 22. Company Positioning & Concentration
Table 23. Company Profitability Margin
List of Figures
Figure 1. North America Metal Casting Market Segmentation, By Country
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem: North America Metal Casting Market
Figure 4. North America Metal Casting Market Impact Analysis of Drivers and Restraints
Figure 5. North America Metal Casting Market Volume (Kilo Tons), 2020 - 2030
Figure 6. North America Metal Casting Market Revenue (US$ Million), 2020 - 2030
Figure 7. North America Metal Casting Market Share (%) - Product Type, 2022 and 2030
Figure 8. Carbon Steel Alloys Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 9. Carbon Steel Alloys Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Stainless Steel Alloys Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 11. Stainless Steel Alloys Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Aluminum Alloys Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 13. Aluminum Alloys Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Grey Iron Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 15. Grey Iron Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Ductile Iron Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 17. Ductile Iron Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 19. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. North America Metal Casting Market Share (%) - Process, 2022 and 2030
Figure 21. Sand Casting Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Investment Casting Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Gravity Die Casting Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 25. North America Metal Casting Market Share (%) - Application, 2022 and 2030
Figure 26. Automotive Market Revenue and Forecasts To 2030 (US$ Million)
Figure 27. Aerospace Market Revenue and Forecasts To 2030 (US$ Million)
Figure 28. Marine Market Revenue and Forecasts To 2030 (US$ Million)
Figure 29. Building and Construction Market Revenue and Forecasts To 2030 (US$ Million)
Figure 30. Oil and Gas Market Revenue and Forecasts To 2030 (US$ Million)
Figure 31. Industrial Machinery Market Revenue and Forecasts To 2030 (US$ Million)
Figure 32. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 33. North America Metal Casting Market, by Key Country- Revenue (2022) (US$ Million)
Figure 34. North America Metal Casting Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 35. US: North America Metal Casting Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 36. US: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million)
Figure 37. Canada: North America Metal Casting Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 38. Canada: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million)
Figure 39. Mexico: North America Metal Casting Market Revenue and Forecasts To 2030 (Kilo Tons)
Figure 40. Mexico: North America Metal Casting Market Revenue and Forecasts To 2030 (US$ Million)
Figure 41. Heat Map Analysis By Key Players

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Alcoa Corp
  • ArcelorMittal SA
  • Lucchini RS SpA
  • MEDEKO CAST Sro
  • Novacast Ltd
  • Posco Holdings Inc
  • Tycon Alloy Industries (HongKong) Co Ltd

Table Information