A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Iron
& Steel Casting
Market. The
study, titled “Iron
& Steel Casting Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 - 2024”,
is available for sale on the firm’s website.
Iron
& steel casting is a phenomenon that takes place in a foundry,
wherein molten iron is poured into a vessel or cast to create a
desired shape. Cast materials are usually metals or cold setting
materials such as concrete, epoxy, plaster, clay, ceramic or iron in
which molten fluid is poured to get various shapes and sizes. Iron &
steel castings are used in the production of various intermediate
products, which are employed in various application industries. Thus,
the performance of this market significantly depends on key
downstream markets. Most end-user industries rely on iron & steel
casting materials for the production of finished products. For
instance, mining, construction, and automotive are some of the
end-user industries that rely heavily on the iron & steel casting
market for production of finished products such as mining machines,
construction equipment, and automotive parts.
Browse
Market Research Report @
Almost
all metals such as iron, copper, aluminum, and steel can be cast.
However, the most common ferrous metals include grey iron, ductile
iron, steel, and malleable iron. Alloys of iron & steel are
widely used for casting in high performance application industries
such as automobile, heavy equipment, industrial machines, and defense
equipment. The iron & steel casting market is expanding steadily
due to robust growth in construction and mining industries,
especially in Southeast Asia and Eastern Europe. Increasing demand
for iron & steel casting in automobile and electrical industries
is anticipated to propel the growth of the market. Furthermore,
demand for steel plates in the construction industry is expected to
rise significantly in the near future due to increase in
infrastructure-building activities.
Replacement
of iron & steel casting with aluminum-based alloys casting in
several applications such as aircraft body and automotive body is
likely to meet the demand for iron & steel casting to some
extent. Additionally, iron & steel casting requires intensive
energy. This is a restraining factor in the market. Upgrade of
technology to felicitate manufacturing process and development of low
weight iron & steel casting plates and pipes is projected to
provide potential opportunities in the market.
The
iron & steel casting market can be bifurcated into application
segments such as automotive & transportation, construction,
machine tools, defense, plant machinery, households, and others. The
iron & steel casting market can also be bifurcated based on
product forms such as pipes and tubes, plates and sheets,
semi-finished cast products, and others.
The
plates and sheets segment holds a significant share of the iron &
steel casting market. Construction along with automotive is the
largest application of the iron & steel casting market. Rise in
future demand for low weight metal casting for use in the
construction and automotive industries are anticipated to provide
growth in the near future. Iron & steel casting offers
significant properties that enable the production of ultrahigh
strength materials with substantial shear strength. This, in turn,
provides large opportunities for the growth of the iron & steel
casting market. Increase in space exploration programs is estimated
to propel demand for lightweight aircraft. This, in turn, is
projected to boost demand for iron & steel casting in niche
application such as aerospace.
Asia
Pacific and Europe are major markets for iron & steel casting.
China constitutes the largest market for iron & steel casting due
to robust industrialization in the country. This has resulted in
strong growth of the construction industry in China. Thus, Asia
Pacific is expected to witness remarkable growth in the iron &
steel casting market during the forecast period. Rise in construction
activities and automobile purchase in Asia Pacific is likely to boost
the iron & steel casting market in the region. Aerospace and
defense are the major application segments in the iron & steel
casting market in North America.
Get
accurate market forecast and analysis on the Iron & Steel Casting
market. Request a sample to stay abreast on the key trends impacting
this market@
Several
players operate in the iron & steel casting market. These include
Steel Authority of India Limited (SAIL), ArcelorMittal S.A.,
ThyssenKrupp AG, Tata Group, The voestalpine Group, SSAB AB, Hebei
Iron and Steel Group Co., Ltd., Shanghai Baosteel Group Corporation,
and POSCO.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
The
study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The
regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
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proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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Us
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