Resurgence in Industrial and Automotive Production Drives the Global Industrial Castings Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Industrial Castings markets. Global Industrial Castings market is forecast to reach 169 million tons by 2017, driven by the resurgence in the global automotive and industrial production. Growth in the market is also expected to stem from the spike in demand for energy efficient applications, and the increasing usage of castings in innovative application areas.

Industrial Castings: A Global Strategic Business Report

Follow us on LinkedIn – Despite the industrial castings market being engulfed by the recessionary pressure, the market witnessed a gradual turnaround in demand post 2010, stemming primarily from the automotive industry, the largest end-use market. Presently, the industrial castings market is becoming increasingly competitive and end-users are focusing extensively on economically priced and high-quality castings. Demand is increasing for ferrous and non-ferrous castings that are robust and lightweight.

While some segments of the industry are mature or declining, others are emerging to evolve into new ones. For example, the ferrous castings segment has matured and is more vulnerable to exploitation by low-cost foreign producers, because of the low-value-added products it offers. Similarly, market for die-castings is also facing tough competition due to their replacement with non-cast components. In many end-use applications, plastics have replaced gray iron castings. Iron pipes are fast giving way to plastic pipes. In the plumbing sector, plastics and wrought copper alloys are being used as substitutes to brass and bronze castings. In comparison to the ferrous metal castings, nonferrous metal-casting segments are growing at a faster pace. This growth is attributed to the new manufacturing processes and technologies in the manufacture of higher-value-added products, which continue to exploit new markets. These casters are capable of meeting more complex structural requirements and replacing assemblies with higher performance castings.

Innovative applications are expected to fuel demand for castings in the years to come. Also, growing concerns for environment, which increases the requirement for energy-efficient applications, is expected to be a major growth propeller. Further, increasing activity in the construction and engineering markets is expected to bode well for the future growth prospects in the long run. New developments, and increased spending on missiles and military aircraft, would drive the growth of metal castings in the aerospace market. On the other hand, technological developments in wireless devices and computers would drive the demand for castings in electronic packaging, mobile telephones, medical electronics, medical equipment, and video games segments. Against this backdrop, producers find it imperative to make products according to customized design specifications to remain competitive in the market.

Asia-Pacific represents the largest and the fastest growing market worldwide, as stated by the new market research report on Industrial Castings. Rapid pace of industrialization and development in regions, such as China, India, and Korea, are the primary demand drivers for industrial castings in the region. Mainland China and South East Asian countries are fast becoming the new hub for the industrial castings production. These countries provide a competitive edge over European countries in terms of low-priced mass production of cast metals. Within these countries, small and medium casting enterprises are expected to retain a competitive niche for small quantity orders with high precision and complicated dimensions. Europe and the US are the next largest consumers of industrial castings.

In terms of size, Ferrous Castings clearly rules the industrial castings market. Within the group, the demand for ductile iron castings is expected to precede gray iron castings in the long term. The most promising growth overall is however expected from the Aluminum Castings segment, a part of the Non-Ferrous Castings product group, which is forecast to expand at the highest CAGR over the analysis period, primarily due to the replacement of ferrous castings in the automotive sector with nonferrous castings such as Aluminum.

Key players profiled in the report include Bradken - Engineered Products, Esco Corporation Inc., GIW Industries, Intercast and Forge Pty. Ltd., Kubota Corp., Precision Metalsmiths Inc., Ryobi Ltd., Wyman-Gordon Company, among others.

The research report titled “Industrial Castings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the industrial castings market, key market trends, product overview, end-use markets, product innovations, recent industry activity, and profiles of market players worldwide. The study analyzes market data and analytics for the period 2009-2017 in terms of volume demand for regions including The United States, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America, and Middle East by the following segments - Ferrous Castings (Gray Iron Castings, Ductile Iron Castings, Malleable Iron Castings, and Steel Castings) and Non-Ferrous Castings (Aluminum Castings, Copper Castings, Magnesium Castings and Other Non-Ferrous Castings). Also, a six-year (2003-2008) historic analysis is provided for an additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Industrial_Castings_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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