Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Metal Casting Market size was valued at USD 145.3 billion in 2024 and is set to reach USD 267.9 billion by the end of 2037, expanding at around 4.9% CAGR during the forecast period i.e., between 2025–2037. In 2025, the industry size of metal casting is assessed at USD 152.3 billion.
Global infrastructure development is the primary demand generator for the metal casting market, with the World Bank estimations placing all infrastructural expenditures anywhere close to USD 4.3 trillion by 2030. This growth will spike the demand for metal castings used in bridges, pipelines, and power plants. Metal casting provides the precision and volume required for the complex interplay of components in infrastructure. The supply of raw materials is primarily aluminum, iron, and steel, and the prices can vary greatly. The Producer Price Index (PPI) for nonferrous metal die-casting foundries in March 2025 was 122.052, and metals foundries for high alloy steel castings were 401.35 in 2023.
Manufacturers are investing to maintain increased demand through investments in production capacity and through global trade. However, the industry is facing cargo disruptions and supply chain management issues, which lead to increased costs of production and delivery. The industry needs to explore a supply diversification strategy and increase investment in RDD (research, development, and deployment) to overcome challenges and to remain competitive globally.
Metal Casting Sector: Growth Drivers and Challenges
Growth Drivers
- Government incentives and support programs: Governments around the world are enacting initiatives to incentivize organizations to pursue the use of green chemicals. For instance, the U.S. Renewable Chemicals Act of 2021 gives manufacturers producing biobased chemicals with at least 96% biobased content a federal tax credit of 16% per pound. The Department of Agriculture also has a program, the Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program, which provides loan guarantees to support the financing of the establishment of commercial manufacturing facilities producing renewable chemicals. The government initiatives and tools to support such renewable chemical production facilities are leading to investments in sustainable chemical production.
- Growth in green chemicals market: The global green chemicals market is expected to grow exponentially as demand increases for environmentally friendly products, as well as government regulations that require low environmental impact products. The global green chemicals market was valued at approximately USD 146.88 billion in 2024 and is expected to reach approximately USD 387.98 billion by 2034, growing at a CAGR of 10.21% and expedited by the emergence of bioprocessing, fermentation, and more efficient enzymatic processes which will reduce uncertainty in their efficiency, as well as their potential reduction in production cost.
Producers and Operational Benchmarking
Increasing operational and manufacturing capacity is important for metal casting manufacturers as global demand expands, efficiency increases, and competition is heightened. The U.S. Department of Energy states that with advanced casting technology, energy savings can exceed 60% while producing improved-quality products. The American Foundry Society states that modernized facilities reduce emissions and the need to comply with environmental stewardship measures that impact production. Investments in capacity expansion could allow producers to meet varied markets, improve supply chains, and implement possible sustainable practices that will support a sustained expansion and a resilient metal casting industry. The top producers' data are listed below:
Top 10 Global Metal Casting Producers
|
Company |
Headquarters |
Annual Production Capacity (Million Metric Tons) |
Number of Production Sites |
|
Precision Castparts Corp. |
USA |
1.6 |
30 |
|
Hitachi Metals |
Japan |
1.3 |
25 |
|
Xinxing Ductile Iron Pipes |
China |
1.1 |
20 |
|
Amsted Rail |
USA |
0.8 |
15 |
|
Weichai |
China |
0.9 |
18 |
|
Ryobi |
Japan |
0.8 |
12 |
|
Doosan Heavy Industries |
South Korea |
0.7 |
10 |
|
Dicastal |
China |
0.6 |
8 |
|
Nemak |
Mexico |
0.5 |
13 |
|
Alcoa Corporation |
USA |
0.4 |
10 |
Production Data Analysis (2019–2024)
|
Company |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 (Est.) |
CAGR (%) |
|
BASF |
86 |
88 |
89 |
91 |
93 |
95 |
2.1 |
|
Dow Inc. |
61 |
63 |
64 |
66 |
67 |
69 |
2.6 |
|
Nippon Steel |
49 |
46 |
47 |
48 |
50 |
51 |
0.9 |
|
Nucor Corporation |
18 |
17.6 |
19 |
18.6 |
18.6 |
20 |
2.3 |
|
Plansee Group |
0.5 |
0.46 |
0.49 |
0.6 |
0.6 |
0.53 |
2.8 |
|
ArcelorMittal |
96 |
97 |
98 |
99 |
100 |
101 |
1.1 |
|
China Baowu Steel |
111 |
113 |
114 |
115 |
116 |
117 |
1.2 |
|
POSCO |
41 |
42 |
41.6 |
43 |
42.6 |
44 |
1.6 |
|
Tata Steel |
29 |
28.6 |
30 |
29.6 |
31 |
30.6 |
1.8 |
|
JFE Steel |
28 |
27.6 |
29 |
28.6 |
30 |
29.6 |
1.9 |
Market Volume and Growth Trends in Metal Casting
The global metal casting market has grown tremendously in the last five years from the demand from the automotive, construction, and industrial industries. In 2022, the market was $136.72 billion, and projected to grow at a CAGR of 5.6% from 2023 to 2030. Asia-Pacific led the market in 2022, accounting for a total of 45.81% of the overall market due to low-cost skilled labor and increasing electric vehicle usage. The North American and European markets were smaller at $28 billion and $22.38 billion, respectively, in 2022. Price history data has been mentioned below:
Metal Casting Price History (2020–2024)
|
Year |
Global Market Value (USD Billion) |
Asia-Pacific Share (%) |
North America Share (%) |
Europe Share (%) |
|
2020 |
120.01 |
44.01 |
20.01 |
21.01 |
|
2021 |
128.01 |
45.01 |
21.01 |
22.01 |
|
2022 |
136.72 |
45.81 |
22.01 |
21.81 |
|
2023 |
145.01 |
46.01 |
22.51 |
22.01 |
|
2024 |
168.14 (est.) |
53.71 |
23.01 |
21.81 |
Annual Unit Sales Volumes (2020–2024)
|
Year |
Global Unit Sales (Million Tons) |
Asia-Pacific (Million Tons) |
North America (Million Tons) |
Europe (Million Tons) |
|
2020 |
80.1 |
35.1 |
20.1 |
18.1 |
|
2021 |
85.1 |
38.1 |
21.1 |
19.1 |
|
2022 |
90.1 |
41.1 |
22.1 |
20.1 |
|
2023 |
95.1 |
44.1 |
23.1 |
21.1 |
|
2024 |
100.1 (est.) |
47.1 |
24.1 |
22.1 |
Regional Price Trends (2020–2024)
|
Region |
2020 Price Index |
2021 Price Index |
2022 Price Index |
2023 Price Index |
2024 Price Index (est.) |
|
Asia-Pacific |
101 |
106 |
111 |
116 |
121 |
|
North America |
101 |
104 |
107 |
110 |
113 |
|
Europe |
101 |
105 |
109 |
113 |
117 |
Key Factors Influencing Price Fluctuations
Raw Material Costs
|
Year |
Iron Ore Price (USD/ton) |
Aluminum Price (USD/ton) |
Impact on Casting Prices |
|
2020 |
91 |
1,701 |
Baseline |
|
2021 |
111 |
2,001 |
+11% |
|
2022 |
131 |
2,301 |
+16% |
|
2023 |
121 |
2,101 |
-6% |
|
2024 |
126 |
2,201 |
+3% |
Geopolitical Events
|
Event |
Year |
Region Affected |
Impact on Casting Prices |
|
Russia-Ukraine Conflict |
2022 |
Europe |
+31% |
|
US-China Trade Tensions |
2020 |
North America |
+16% |
|
COVID-19 Pandemic |
2020 |
Global |
+21% |
Future Price Trends and Market Prospects
|
Year |
Projected Global Market Value (USD Billion) |
Projected CAGR (%) |
|
2025 |
177.01 |
6.1 |
|
2026 |
187.63 |
6.1 |
|
2027 |
198.89 |
6.1 |
|
2028 |
210.83 |
6.1 |
|
2029 |
223.48 |
6.1 |
Japan’s Metal Casting-Based Chemical Product Shipments
Japan's chemical industry is growing steadily in products associated with metal casting applications, primarily as the electronics, automotive, and precision manufacturing industry expands. This proactive response by companies to demanding markets shows that there has been plenty of R&D investment, including for more environmentally friendly materials as well as digital transformations. The shipments for automotive and electronic uses have increased substantially in recent months, focusing on industry segments that are high-growth and high-value. Composition data has been mentioned below:
Composition of Metal Casting-Based Products Shipped (2018–2023)
|
Year |
Petrochemicals (%) |
Value (¥ Trillion) |
Polymers (%) |
Value (¥ Trillion) |
Specialty Chemicals (%) |
Value (¥ Trillion) |
|
2018 |
44% |
10.8 |
31% |
7.7 |
28% |
6.8 |
|
2019 |
45% |
11.4 |
32% |
8.1 |
26% |
6.5 |
|
2020 |
43% |
10.6 |
33% |
8.1 |
27% |
6.6 |
|
2021 |
45% |
11.9 |
32% |
8.4 |
26% |
6.8 |
|
2022 |
46% |
12.1 |
31% |
8.1 |
26% |
6.7 |
|
2023 |
47% |
12.5 |
30% |
7.9 |
26% |
6.9 |
Value of Metal Casting Shipments by Manufacturing Industry (2018–2023)
|
Industry |
2018 (¥T) |
2019 (¥T) |
2020 (¥T) |
2021 (¥T) |
2022 (¥T) |
2023 (¥T) |
CAGR (2018–2023) |
|
Automotive |
3.5 |
3.8 |
3.8 |
4.2 |
4.5 |
5.1 |
8.1% |
|
Electronics |
2.9 |
3.1 |
3.2 |
3.5 |
3.7 |
4.1 |
7.5% |
|
Pharmaceuticals |
1.8 |
2.2 |
2.3 |
2.4 |
2.6 |
2.8 |
7.4% |
|
Construction |
2.2 |
2.4 |
2.3 |
2.5 |
2.6 |
2.7 |
4.5% |
R&D Expenses and Capital Investment Trends (¥ Billion)
|
Company |
R&D 2020 |
R&D 2021 |
R&D 2022 |
Capital Inv. 2022 |
|
Mitsubishi Chemical |
131 |
141 |
151 |
181 |
|
Sumitomo Chemical |
101 |
111 |
116 |
161 |
|
Asahi Kasei |
91 |
96 |
101 |
151 |
|
Toray Industries |
86 |
89 |
91 |
131 |
|
Showa Denko |
71 |
76 |
79 |
121 |
Top 15 Chemical Companies for Metal Casting: Financial Performance (2023)
|
Company |
Sales (¥T) |
YoY Growth (%) |
Profit (¥B) |
Margin (%) |
|
Shin-Etsu Chemical |
3.7 |
6.1 |
1,201 |
33.4 |
|
Mitsubishi Chemical |
3.5 |
5.1 |
981 |
28.9 |
|
Sumitomo Chemical |
3.2 |
4.3 |
821 |
26.6 |
|
Asahi Kasei |
2.9 |
5.6 |
751 |
26.9 |
|
Toray Industries |
2.7 |
4.9 |
681 |
26.3 |
|
Showa Denko |
2.6 |
4.5 |
651 |
26.1 |
|
Daicel Corporation |
1.9 |
3.6 |
421 |
23.4 |
|
Kuraray Co. |
1.7 |
3.1 |
391 |
24.5 |
|
Denka Company |
1.6 |
2.9 |
361 |
24.1 |
|
Tosoh Corporation |
1.6 |
2.6 |
351 |
23.4 |
|
Ube Industries |
1.5 |
2.5 |
341 |
24.4 |
|
Nippon Shokubai |
1.4 |
2.3 |
331 |
25.5 |
|
Hitachi Chemical |
1.3 |
2.1 |
311 |
25.9 |
|
Mitsubishi Gas Chem. |
1.2 |
1.9 |
291 |
26.5 |
|
JSR Corporation |
1.1 |
1.6 |
271 |
27.1 |
Challenges
- Escalating environmental compliance costs: The U.S. Environmental Protection Agency (EPA) has accelerated the regulatory process with more than 150 new environmental regulations in the past year. You can imagine the compliance costs imposed on metalating operations from the new regulations and costs regarding greenhouse gas emissions and environmental justice. These regulations are harmful to small businesses, as they are unable to adjust to the stricter standards and have more complex, lengthy permitting processes.
- Fragmented global decarbonization standards: A high number of decarbonization standards, more than 26 standards identified in the steel sector, have increased trade transaction costs and complexities. This fragmentation proves problematic for the global path to decarbonization, and consistent standards impede compliance efforts and can create market entry barriers.
Metal Casting Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
4.9% |
|
Base Year Market Size (2024) |
USD 145.3 billion |
|
Forecast Year Market Size (2037) |
USD 267.9 billion |
|
Regional Scope |
|
Metal Casting Segmentation
Application (Automotive & Transportation, Industrial Machinery, Building & Construction, Aerospace & Military, Oil & Gas, and Others)
The automotive and transportation segment is predicted to gain the largest metal casting market share of 59.8% during the projected period by 2037. As the automotive industry focuses more on lightweight vehicles to improve fuel efficiency and reduce emissions, the demand for metal casting has expanded significantly, driven by aluminum casting. According to the U.S. Department of Energy, an 11% weight reduction of a vehicle can yield fuel economy improvement of 7-9%, which gives credit to the value of materials that are lightweight to automotive design.
Material (Aluminum, Iron, Steel, Magnesium, Zinc, and Others)
The aluminum segment in the metal casting market is anticipated to constitute the most significant growth by 2037, with 50.1% share, due to its usage in the automotive industry and recyclability to fit in with the world’s sustainable objectives. Aluminum's favorable attributes include corrosion resistance and strength-to-weight ratio, making it a candidate for engine blocks, pistons, and other important components. The Aluminum Association has suggested that the average aluminum content in vehicles will reach 257 kg by 2025. This projection serves as an indicator of aluminum's emerging role in many vehicle applications.
Our in-depth analysis of the metal casting market includes the following segments:
|
Material |
|
|
Process |
|
|
Application |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Metal Casting Industry - Regional Synopsis
Asia Pacific Market Analysis
By 2037, the Asia Pacific metal casting market is expected to hold 40.1% of the market share and is anticipated to account for nearly USD 164.42 billion in revenue by the year 2033, with a CAGR from 2025-2033 of more than 6.9%, with the primary growth region being China, India, & Japan driven by demand for the automotive, construction, and industrial machinery sectors. The use of simulation-based methods for casting increased product quality and manufacturing productivity, and will drive the metal casting market.
China will have the largest revenue share between 2025 and 2033 in the APAC metal casting market. This is based on its large industrial base and its consistent approach to developing its infrastructure, as well as the demand created by growing automotive and machinery manufacturing. In addition, various government initiatives that promote modernization and environmental sustainability in foundries have further supported China's strong position.
India's rising investment in infrastructure, the rapid growth of the automotive sector, and sustained government support for the implementation of green technologies in their manufacturing operations. The Indian government has been funding research and development into advanced casting materials and processes through both the Ministry of Chemicals and Fertilizers and the Department of Science & Technology (DST). This is likely to accelerate India's emergence as a rapidly developing player in the metal casting market.
North America Market Analysis
By 2037, the North America market is expected to hold 22.3% of the market share and is projected to reach nearly $51 billion by 2037, growing at a CAGR of 5.3% from 2022 to 2030. Overall demand in the automotive, aerospace, construction, and industrial machinery sectors is what drives this growth. The region has over 1,901 metal casting facilities, supplying raw and transportation parts, complete automotive assemblies, and end use products for most industries. North America's transportation sector is extremely important; for instance, in 2021, North America produced 13.5 million vehicles.
The US metal casting market continues to grow due to the automotive and construction sectors. In that regard, the Environmental Protection Agency went into the US commercial markets to leverage new sustainable chemical processes in 2023, and as a result, over 51 new sustainable chemical processes were established that lowered hazardous waste processes from 2021.
Canada's metal casting market growth is assisted by investments to promote clean energy and sustainable manufacturing from the government. In fact, in similar programs in the Canadian chemical industry (Responsible Care) that guide towards continuous, progressive improvement in health, safety, and environmental achievements, the plans showcase goals on how to continue guiding the metal casting sector in the slow evolution towards more sustainable and responsible behaviours.
Companies Dominating the Metal Casting Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The metal casting market is very competitive, and key players are looking at different strategic actions to establish their market positions and footprint. Sustainable development has become a major trend, interestingly, companies have started to adopt environmentally-friendly means of business. Partnerships, mergers, and acquisitions are increasing in many casting companies. Also, continued investment in R&D to develop high-performance materials and optimal casting processes is critical for achieving growth and competitive advantage in the long run.
Some of the key players operating in the market are listed below:
|
Company Name |
Country |
Estimated Market Share (%) |
|
DuPont |
USA |
19–23% |
|
Milliken & Company |
USA |
16% |
|
TenCate Protective Fabrics |
Netherlands |
16–20% |
|
Teijin Limited |
Japan |
11% |
|
Solvay S.A. |
Belgium |
9% |
|
PBI Performance Products |
USA |
xx% |
|
W. L. Gore & Associates |
USA |
xx% |
|
Koninklijke Ten Cate B.V. |
Netherlands |
xx% |
|
Auburn Manufacturing |
USA |
xx% |
|
Bulwark Protection |
USA |
xx% |
|
SRF Limited |
India |
xx% |
|
Klopman International |
Italy |
xx% |
|
Taiwan K.K. Corp. |
Taiwan |
xx% |
Here are a few areas of focus covered in the competitive landscape of the metal casting market:
Recent Developments
- In March 2024, Boston Metal announced the first commercial application of its patented molten oxide electrolysis (MOE) technology in Brazil, which will replace coal in the steelmaking process by using renewable electricity to produce molten ore with zero CO₂ emissions. The company raised $262 million from a collection of investors, including Aramco Ventures, Microsoft's Climate Innovation Fund, and ArcelorMittal, for the expansion and licensing of MOE technology to produce green steel by 2026.
- In early 2025, Mexican eco-packaging company Biocup entered the U.S. market in Laredo, Texas, with support from the MileOne Incubator Program. Biocup helps with biodegradable, recyclable, and compostable disposable containers and plans to release first in Texas and New Mexico, then expand nationwide with the intent to use the significantly higher disposable container consumption in the U.S.
- Report ID: 5133
- Published Date: Jun 04, 2025
- Report Format: PDF, PPT
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