Los Angeles, CA -- (SBWire) -- 04/23/2019 --Casting is a process in which a liquid metal is somehow delivered into a mold that contains a hollow cavity of the intended shape. The metal and mold are then cooled, and the metal part (the casting) is extracted. Casting is most often used for making complex shapes that would be difficult or uneconomical to make by other methods.
Cast iron is a family of metals produced by smelting metal, and then pouring it into a mold. The primary difference in production between wrought iron and cast iron is that cast iron is not worked with hammers and tools. There are also differences in composition—cast iron contains 2–4% carbon and other alloys, and 1–3% of silicon, which improves the casting performance of the molten metal. Small amounts of manganese and some impurities like sulfur and phosphorous may also be present. Differences between wrought iron and cast iron can also be found in the details of chemical structure and physical properties.
Due to the presence of carbon in cast iron, it may sometimes be confused with steel. However, there are significant differences. Steel contains less than 2% carbon, which enables the final product to solidify in a single microcrystalline structure. The higher carbon content of cast iron means that it solidifies as a heterogeneous alloy, and therefore has more than one microcrystalline structure present in the material.
It is the combination of high carbon content, and the presence of silicon, that gives cast iron its excellent castability.
Global market for Iron Casting is driven by growing manufacturing activity, particularly rising automobile parts production in developing markets. Growth in the market is driven by regional powerhouses, China and India, which continue to witness steady increases in outsourced manufacturing activity.
The leading companies own the advantages on better performance, more abundant product's types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
The global Iron Casting [Ferrous Castings] market was 8530 million US$ in 2018 and is expected to 7220 million US$ by the end of 2025, growing at a CAGR of -2.1% between 2019 and 2025.
This report studies the Iron Casting [Ferrous Castings] market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Iron Casting [Ferrous Castings] in these regions, from 2014 to 2025, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil etc.)
Middle East and Africa (Egypt and GCC Countries)
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
Waupaca Foundry
AAM(Grede Holdings)
Neenah Foundry
Metal Technologies
Cifunsa
Wescast Industries
INTAT Precision
Chassix
Aarrowcast
Cadillac Casting
Rochester Metal Products
Goldens'Foundry
Weichai
Xinxing Ductile Iron Pipes
Georg Fischer
Faw Foundry
Huaxiang Group
Meide Casting
By the product type, the market is primarily split into
Gray Iron Castings
Ductile Iron Castings
Others
By the end users/application, this report covers the following segments
Machinery & Equipment
Automotive
Pipe & Fitting
Valves, Pumps & Compressors
Rail
Key Regions split in this report:
North America
Asia-Pacific
Europe
Central & South America
Middle East & Africa
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Iron Casting Market Growing at -2.1%CAGR Will Hit 7220 Million US$ in 2025