Report ID : AMR1004138 | Industries : | Published On :December 2023 | Page Count : 234
Global Iron Foundry Market Size, Trends & Growth Opportunity and By Product (Gray Cast Iron and Ductile Cast Iron), By Application (Automotive, Machinery & Tools, Pipes & Fittings, Railways, Power Generation, Agriculture Sector, and Others), By Region and Forecast till 2027.
Global Iron Foundry Market
The Global Iron Foundry Market is expected to grow from US$ 23,279.67 Million in 2022 to US$ 39,344.72 Million by 2030; it is estimated to grow at a CAGR of 6.13% from 2023 to 2030.
A building or factory known as an iron foundry is where iron is melted, poured, and cast into different shapes and forms to produce a variety of iron items. In order to create castings of particular shapes, such as pipes, fittings, engine components, tools, and decorative objects, the procedure normally entails melting iron in a furnace and pouring the molten metal into moulds.
Market Drivers
The rapidly growing production of electric vehicles in Europe will have a significant impact on revenue generation. Major engine components of electric vehicles and the body are made from aluminium or steel which are either manufactured through moulding or casting. Government policies remain the key driving force for global electric car markets, but their dynamism in 2021 also reflects a very active year on the part of the automotive industry. Iron is expected to emerge as the most utilized casting material across numerous industrial verticals, owing to the advantages it offers over steel. It exhibits higher strength rendering it more suitable for machining and casting in electrical vehicles.
Market Restraints
The Europe iron foundry market is highly competitive with numerous established and emerging players vying for market share this competition puts pressure on prices and profitability for companies operating in the sector. Fluctuations in the prices of raw materials, such as metals, alloys can impact the profitability of metal casting Companies. Stringent environment regulations governing emissions and waste management pose challenges for the iron foundry industry. Companies need to invest in technologies that reduce environmental impact and Comply with regulatory requirements which is high in cost & maintenance.
Market Opportunities
Modernization of the Iron foundry industry is the rising opportunity for Europe Iron Foundry Market. Most Foundries now favour automated moulding for melting, mechanized diametric moulding for sand moulding and continuous casting for chemical sand binding. Unlike traditional casting processes, the processes produces no toxic emissions and 90% of moulds are recycled resulting in less waste and less raw material use. The Lightweight nature of Cold cast items makes them easier to handle and carry, lowering energy expenditures. Foundry Modernization aims to simplify the production process and increase the product quality, because of modernized foundry custom castings can now offer ductile iron castings. The increasing focus on renewable energy sources presents a significant opportunity for the Iron foundry market. The regions expertise and quality standards make it an attractive destination for exporting metal casting to other regions, further expanding market opportunities.
Impact of Covid-19
The global iron foundry market is a critical component of the metal casting industry, involving the manufacturing of iron components used in a variety of applications. Prior to the COVID-19 pandemic, the market was steadily growing, fueled by infrastructure development and industrial expansion. However, the outbreak had a substantial impact on the sector, producing supply chain problems, labour shortages, and a drop in demand due to economic slowdowns and lockdown measures. Despite these problems, the market has demonstrated resilience as economies gradually recover. Following the epidemic, the industry is expected to recover, supported by increased construction projects and the resumption of manufacturing operations.
Market Segmentation
Global Iron Foundry Market is segmented into Product and Application. By Product, the Iron Foundry Market is classified into Gray Cast Iron and Ductile Cast Iron. By Application, the Iron Foundry Market is classified into Automotive, Machinery & Tools, Pipes & Fittings, Railways, Power Generation, Agriculture Sector, and Others.
Regional Analysis
Iron Foundry Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The key players of Iron Foundry Market are SKB Drive Tech SA, Sabi Group, BAS Castings, Kutno Foundry (Luma Automation), Thomas Dudley Foundry Limited, Ferro-Preis (Preis Group), Metalska Industrija Varazdin (Hawle Armaturen Group), Farinia Group, Zanardi Fonderie, UXA spol. s.r.o., Foundry Corrà SpA, Vald. Birn A/S, and Odlewnia Kutno Sp. z o.o.
Market Taxonomy
By Product
• Gray Cast Iron
• Ductile Cast Iron
By Application
• Automotive
• Machinery & Tools
• Pipes & Fittings
• Railways
• Power Generation
• Agriculture Sector
• Others
By Region
• North America
• U.S.
• Canada
• Mexico
• Latin America
• Brazil
• Argentina
• Colombia
• Peru
• Chile
• Venezuela
• Rest of Latin America
• Europe
• Germany
• France
• UK
• Russia
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• New Zealand
• Singapore
• Malaysia
• Rest of Asia Pacific
• Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest Middle East & Africa
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Global Iron Foundry Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Iron Foundry Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Iron Foundry Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Global Iron Foundry Market Share Analysis, By Product
5.3 Global Iron Foundry Market Size and Forecast, By Product
5.3.1 Gray Cast Iron
5.3.2 Ductile Cast Iron
6 Global Iron Foundry Market, By Service Provider Type
6.1 Y-o-Y Growth Comparison, By Service Provider Type
6.2 Global Iron Foundry Market Share Analysis, By Service Provider Type
6.3 Global Iron Foundry Market Size and Forecast, By Service Provider Type
6.3.1 Automotive
6.3.2 Machinery & Tools
6.3.3 Pipes & Fittings
6.3.4 Railways
6.3.5 Power Generation
6.3.6 Agriculture Sector
6.3.7 Others
7 Global Iron Foundry Market, By Region
7.1 Global Iron Foundry Market Share Analysis, By Region
7.2 Global Iron Foundry Market Size and Forecast, By Region
7.3 Global Iron Foundry Market Trends and Forecast, By Region
8 North America Iron Foundry Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Iron Foundry Market Size and Forecast, By Product
8.3 North America Iron Foundry Market Size and Forecast, By Service Provider Type
8.4 North America Iron Foundry Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Product
8.4.1.2 Market Size and Forecast, By Service Provider Type
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Product
8.4.2.2 Market Size and Forecast, By Service Provider Type
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Product
8.4.3.2 Market Size and Forecast, By Service Provider Type
9 Europe Iron Foundry Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Iron Foundry Market Size and Forecast, By Product
9.3 Europe Iron Foundry Market Size and Forecast, By Service Provider Type
9.4 Europe Iron Foundry Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Product
9.4.1.2 Market Size and Forecast, By Service Provider Type
9.4.2 France
9.4.2.1 Market Size and Forecast, By Product
9.4.2.2 Market Size and Forecast, By Service Provider Type
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Product
9.4.3.2 Market Size and Forecast, By Service Provider Type
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Product
9.4.4.2 Market Size and Forecast, By Service Provider Type
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Product
9.4.5.2 Market Size and Forecast, By Service Provider Type
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Product
9.4.6.2 Market Size and Forecast, By Service Provider Type
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Product
9.4.7.2 Market Size and Forecast, By Service Provider Type
10 Asia Pacific Iron Foundry Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Iron Foundry Market Size and Forecast, By Product
10.3 Asia Pacific Iron Foundry Market Size and Forecast, By Service Provider Type
10.4 Asia Pacific Iron Foundry Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Product
10.4.1.2 Market Size and Forecast, By Service Provider Type
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Product
10.4.2.2 Market Size and Forecast, By Service Provider Type
10.4.3 India
10.4.3.1 Market Size and Forecast, By Product
10.4.3.2 Market Size and Forecast, By Service Provider Type
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Product
10.4.4.2 Market Size and Forecast, By Service Provider Type
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Product
10.4.5.2 Market Size and Forecast, By Service Provider Type
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Product
10.4.6.2 Market Size and Forecast, By Service Provider Type
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Product
10.4.7.2 Market Size and Forecast, By Service Provider Type
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Product
10.4.8.2 Market Size and Forecast, By Service Provider Type
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Product
10.4.9.2 Market Size and Forecast, By Service Provider Type
11 Latin America Iron Foundry Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Iron Foundry Market Size and Forecast, By Product
11.3 Latin America Iron Foundry Market Size and Forecast, By Service Provider Type
11.4 Latin America Iron Foundry Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Product
11.4.1.2 Market Size and Forecast, By Service Provider Type
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Product
11.4.2.2 Market Size and Forecast, By Service Provider Type
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Product
11.4.3.2 Market Size and Forecast, By Service Provider Type
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Product
11.4.4.2 Market Size and Forecast, By Service Provider Type
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Product
11.4.5.2 Market Size and Forecast, By Service Provider Type
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Product
11.4.6.2 Market Size and Forecast, By Service Provider Type
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Product
11.4.7.2 Market Size and Forecast, By Service Provider Type
12 Middle East Iron Foundry Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Iron Foundry Market Size and Forecast, By Product
12.3 Middle East Iron Foundry Market Size and Forecast, By Service Provider Type
12.4 Middle East Iron Foundry Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Product
12.4.1.2 Market Size and Forecast, By Service Provider Type
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Product
12.4.2.2 Market Size and Forecast, By Service Provider Type
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Product
12.4.3.2 Market Size and Forecast, By Service Provider Type
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Product
12.4.4.2 Market Size and Forecast, By Service Provider Type
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Product
12.4.5.2 Market Size and Forecast, By Service Provider Type
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Product
12.4.6.2 Market Size and Forecast, By Service Provider Type
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 SKB Drive Tech SA
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Sabi Group
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 BAS Castings
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Kutno Foundry (Luma Automation)
14.4.1 Overview
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Thomas Dudley Foundry Limited
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Ferro-Preis (Preis Group)
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Metalska Industrija Varazdin (Hawle Armaturen Group)
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Farinia Group
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Foundry Corrà SpA
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Odlewnia Kutno Sp. z o.o
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
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