Foundry Binders Market Share

APAC Market Forecast

Foundry binders market in Asia Pacific is poised to hold a share of 36% during the foreseen period. This region dominated the market because of its substantial presence in several foundry-dependent industries, including the manufacturing of machinery, automobiles, and aircraft. For instance, in 2021, there were 1.8 thousand narrow-body aircraft in the Asia Pacific aircraft fleet. The growth of the foundry binders market in the region was significantly influenced by South Korea, Japan, China, India, and other causes. In addition, the rapid industrialization, population growth, and increased investments in infrastructure development in the Asia Pacific region created a substantial demand for metal castings, which in turn fueled a need for foundry binders. Technological developments, favorable government regulations, and the region's capacity for cost-effective production all contributed to its supremacy in the foundry-binding industry.

North American Market Statistics

North American Foundry Binders Market is projected to hold a share of 27% by the end of 2036. The region's manufacturing industry is booming, particularly in industries like aerospace, defense, and automotive that rely significantly on metal castings. The market has expanded in North America due to factors such as the increased emphasis on ecologically friendly and sustainable production processes, the requirement for high-performance foundry binders, and technical improvements. Furthermore, the region's strong focus on research and development, along with the presence of important industry players and beneficial government regulations, have all contributed to the expansion of the North American foundry binders market.