Beyond just molten metal and molds, the global casting industry is a colossal economic engine projected to surge from $142.5 billion to over $192 billion this decade, driven by relentless demand from automotive giants and Asia-Pacific's manufacturing dominance.
Key Takeaways
- The global metal casting market size was valued at USD 142.5 billion in 2022 and is projected to reach USD 192.3 billion by 2030, growing at a CAGR of 3.8%.
- In 2023, the North American die casting market was estimated at USD 28.4 billion, expected to grow to USD 36.7 billion by 2028 at a CAGR of 5.2%.
- Asia-Pacific region dominated the global foundry market with a 58% share in 2022, valued at over USD 82 billion.
- In 2023, China produced 50.2 million metric tons of castings, accounting for 45% of global output.
- US foundries produced 10.8 million tons of metal castings in 2022, with iron at 7.2 million tons.
- India’s casting production reached 11.5 million tons in FY2023, up 5% from previous year.
- In 2022, Asia accounted for 82% of global casting production, totaling 92 million tons.
- North America’s share of world casting output was 6.5% in 2023, about 7.3 million tons.
- Europe represented 12% of global castings in 2022, with Germany leading at 22% of EU.
- Gray iron castings comprised 52% of global production by volume in 2023.
- Aluminum castings accounted for 28% of total market volume in 2022, 32 million tons.
- Steel castings represented 11% of global output in 2023, valued higher per ton.
- Global foundry industry employed 1.2 million direct workers in 2023.
- US casting sector supported 200,000 jobs in 2022, with 90,000 direct.
- China foundries employed 800,000 workers in 2023, 65% in small firms.
The global castings industry is growing steadily, driven by automotive demand and Asia's dominance.
Employment & Sustainability
- Global foundry industry employed 1.2 million direct workers in 2023.
- US casting sector supported 200,000 jobs in 2022, with 90,000 direct.
- China foundries employed 800,000 workers in 2023, 65% in small firms.
- EU casting industry 250,000 employees in 2022, Germany 70,000.
- India 450,000 direct jobs in foundries 2023, informal sector large.
- Brazil sector 50,000 workers in 2023, training gap noted.
- 40% reduction in CO2 emissions targeted by US foundries by 2025 via electrification.
- Global recycling rate in casting industry 95% for ferrous scrap in 2023.
- Japan 80,000 foundry jobs in 2023, aging workforce 45% over 50.
- Energy consumption in EU foundries down 15% since 2010 per ton cast.
- Mexico 35,000 employees, 20% women in sector 2023.
- Russia 120,000 workers, state subsidies for green tech.
- Turkey 100,000 jobs, exports support 300,000 indirect.
- UK 15,000 direct jobs, apprenticeships up 25% in 2023.
- 75% of global castings from recycled materials in 2022.
- Germany 70,000 employees, 30% skilled shortage addressed by automation.
- India informal foundry workers 300,000, safety improvements ongoing.
- Water usage reduced 20% industry-wide by 2023 via closed loops.
- Canada 12,000 jobs, indigenous employment initiatives 10%.
- Poland 25,000 workers, EU funds for retraining 5,000 annually.
- Thailand 40,000 employees, vocational training partnerships.
- Vietnam 60,000 jobs growing 15% YoY with FDI.
- Australia 8,000 direct, safety incidents down 40% since 2015.
- Global R&D spend in casting 2.5% of revenue, focusing green tech.
- France 18,000 workers, 50% certifications for ISO 14001.
- 3D printing adoption reduced waste 25% in pilot foundries 2023.
- South Africa 15,000 jobs, BEE compliance 80%.
- Italy 40,000 employees, family-owned firms 70%.
- Sweden automation displaced 10% jobs but upskilled 20%.
- Brazil recycling 92% scrap, landfill waste -30%.
- Czech Republic 12,000 workers, export competitiveness training.
- Indonesia 80,000 informal heavy, formalization efforts.
Employment & Sustainability Interpretation
While the world's foundries employ millions, their true character is revealed in the details: from the stark contrast of vast informal workforces in India to Germany's automated skills gap, this is a gritty, globally vital industry wrestling with its past while trying to forge a greener, more efficient future.
Market Size & Growth
- The global metal casting market size was valued at USD 142.5 billion in 2022 and is projected to reach USD 192.3 billion by 2030, growing at a CAGR of 3.8%.
- In 2023, the North American die casting market was estimated at USD 28.4 billion, expected to grow to USD 36.7 billion by 2028 at a CAGR of 5.2%.
- Asia-Pacific region dominated the global foundry market with a 58% share in 2022, valued at over USD 82 billion.
- The automotive segment accounted for 42% of the global casting market revenue in 2023, totaling approximately USD 65.8 billion.
- Global aluminum casting market reached 62 million tons in 2022, with a projected CAGR of 4.5% through 2030.
- European casting market volume was 12.5 million tons in 2022, forecasted to grow at 2.1% CAGR to 2027.
- Investment casting market globally valued at USD 15.2 billion in 2023, expected to hit USD 22.1 billion by 2032 at 4.2% CAGR.
- Sand casting segment held 65% market share in 2022, generating USD 92.6 billion in global revenue.
- US casting market size stood at USD 35.2 billion in 2023, with 3% YoY growth driven by aerospace demand.
- China’s casting industry market value exceeded USD 70 billion in 2022, comprising 50% of global production value.
- Permanent mold casting market projected to grow from USD 8.9 billion in 2023 to USD 12.4 billion by 2030 at 4.8% CAGR.
- Global steel casting market size was USD 22.4 billion in 2022, anticipated to reach USD 30.1 billion by 2029.
- India’s foundry market valued at USD 18.5 billion in 2023, expected to expand at 6.5% CAGR to 2028.
- Aerospace casting market globally at USD 10.3 billion in 2023, with 5.1% CAGR forecast to 2030.
- Gray iron casting market share was 35% of total iron castings in 2022, valued at USD 25.7 billion globally.
- Latin America casting market grew 4.2% in 2023 to USD 12.1 billion, led by Brazil and Mexico.
- Copper casting market size reached USD 4.8 billion in 2022, projected CAGR of 3.9% to 2030.
- Middle East & Africa casting market valued at USD 6.7 billion in 2023, growing at 4.0% CAGR.
- Precision casting market at USD 18.9 billion in 2023, expected to reach USD 28.4 billion by 2031.
- Global magnesium casting market was USD 2.1 billion in 2022, with 5.3% CAGR projected.
- Foundry equipment market size hit USD 25.6 billion in 2023, forecasted to USD 34.2 billion by 2028.
- Zinc die casting market valued at USD 7.5 billion in 2022, growing at 4.7% CAGR to 2030.
- Global centrifugal casting market at USD 1.9 billion in 2023, projected 4.1% CAGR.
- Lost foam casting market size USD 3.2 billion in 2022, expected 5.0% growth rate.
- UK casting market revenue was GBP 2.8 billion in 2023, with 2.5% annual growth.
- Titanium casting market globally USD 1.4 billion in 2023, CAGR 6.2% to 2030.
- Global shell molding market at USD 5.6 billion in 2022, projected to USD 7.9 billion by 2030.
- Brazil foundry market size USD 4.2 billion in 2023, 4.8% CAGR forecast.
- Vacuum casting market valued at USD 2.3 billion in 2023, growing 4.9% annually.
- Overall global castings market CAGR averaged 4.0% from 2018-2023, reaching USD 150 billion peak.
Market Size & Growth Interpretation
The statistics reveal a globe being steadily recast, where China produces half the world's value, cars drive 42% of the revenue, and even aerospace dreams are literally being forged in metal at a sobering clip of over four trillion dollars of cumulative growth this decade.
Material & Type Breakdown
- Gray iron castings comprised 52% of global production by volume in 2023.
- Aluminum castings accounted for 28% of total market volume in 2022, 32 million tons.
- Steel castings represented 11% of global output in 2023, valued higher per ton.
- Ductile iron share grew to 25% of iron castings in 2023 from 20% in 2018.
- Sand casting method used for 70% of all castings produced worldwide in 2022.
- Die casting held 25% volume share in aluminum segment 2023.
- Investment casting for 15% of superalloy and titanium parts in aerospace.
- Permanent mold casting 12% of non-ferrous castings in 2023.
- Copper alloy castings 2.5% global volume, high in plumbing.
- Magnesium castings 1.2% share, automotive lightweighting.
- Zinc die castings dominated 90% of zinc usage in 2022.
- Lost wax process 8% of precision castings market.
- Centrifugal casting for pipes 5% of steel tubular products.
- Shell molding used in 18% of high-precision iron castings 2023.
- Titanium castings 0.8% volume but 5% value in aerospace.
- Malleable iron declined to 1.5% of iron types in 2023.
- Lost foam casting 4% share, growing in complex shapes.
- Vacuum investment casting 20% of medical implants.
- Nodular graphite iron 22% of EU iron castings in 2022.
- High-chrome white iron 3% for wear-resistant parts.
- Brass castings 60% of copper alloys in valves.
- Squeeze casting 2% emerging for aluminum autos.
- Continuous casting 85% of steel slabs but 10% discrete castings.
- Plaster mold casting 1% for prototypes.
- Ceramic mold process 0.5% high-temp alloys.
- Thixomolding for magnesium 30% of thin-wall parts.
- Graphitic iron types 75% total iron castings globally.
- Low-pressure die casting 15% aluminum wheels.
- Beryllium copper castings niche 0.2% high-conductivity.
- Slush casting 1% hollow decorative parts.
Material & Type Breakdown Interpretation
The world is quite literally shaped by sand and iron, with aluminum playing a supportive yet ambitious understudy, as we constantly reinvent the art of pouring molten metal into ever-more-clever molds to meet demands from plumbing to aerospace.
Production Volumes
- In 2023, China produced 50.2 million metric tons of castings, accounting for 45% of global output.
- US foundries produced 10.8 million tons of metal castings in 2022, with iron at 7.2 million tons.
- India’s casting production reached 11.5 million tons in FY2023, up 5% from previous year.
- Europe total casting production was 11.2 million tons in 2022, down 2% due to energy crisis.
- Global aluminum casting production hit 62.4 million tons in 2023, led by automotive sector.
- Japan produced 4.1 million tons of castings in 2023, with 55% being aluminum.
- Brazil’s casting output was 2.8 million tons in 2023, primarily gray iron for machinery.
- Germany foundries output 2.5 million tons in 2022, steel castings at 0.9 million tons.
- Global iron casting production totaled 112.3 million tons in 2022, 78% of all castings.
- South Korea casting production 2.2 million tons in 2023, 40% for automotive parts.
- Mexico produced 1.1 million tons of castings in 2023, growing 6% YoY.
- Italy’s casting output 1.3 million tons in 2022, aluminum dominant at 0.7 million tons.
- Russia casting production 5.6 million tons in 2023, mostly steel for energy sector.
- Turkey produced 2.9 million tons of castings in 2023, iron at 2.1 million tons.
- Global steel casting production was 15.8 million tons in 2022, up 3% from 2021.
- France output 0.8 million tons in 2023, with focus on high-value aerospace castings.
- Canada casting production 0.9 million tons in 2022, aluminum 55% share.
- Spain produced 0.7 million tons of castings in 2023, down 1.5% due to exports decline.
- Australia foundry output 0.4 million tons in 2023, primarily for mining equipment.
- Global ductile iron production reached 28.4 million tons in 2023.
- Poland casting production 1.2 million tons in 2022, steel 45%.
- Thailand output 0.6 million tons in 2023, driven by electronics and auto.
- UK produced 0.5 million tons of castings in 2023, aluminum growing segment.
- Vietnam casting production 0.8 million tons in 2023, up 12% YoY.
- Global gray iron casting output 75.2 million tons in 2022.
- Czech Republic 0.3 million tons in 2023, export-oriented.
- Indonesia produced 1.4 million tons in 2023, iron dominant.
- Sweden output 0.2 million tons in 2022, high alloy steels.
- Global malleable iron production 2.1 million tons in 2023.
Production Volumes Interpretation
While China continues to dominate global casting output with a staggering 45% share, the rest of the world is a diverse and dynamic foundry, where nations like India and Vietnam are growing, Europe is navigating energy woes, and everyone from Germany to France is strategically specializing to carve out their own indispensable piece of the industrial puzzle.
Regional Analysis
- In 2022, Asia accounted for 82% of global casting production, totaling 92 million tons.
- North America’s share of world casting output was 6.5% in 2023, about 7.3 million tons.
- Europe represented 12% of global castings in 2022, with Germany leading at 22% of EU.
- China dominated Asia with 54% regional share, producing 50 million tons in 2023.
- India held 12% of Asia-Pacific casting production in 2023, 11 million tons.
- Latin America produced 4.2% of global castings in 2022, led by Brazil at 60% regional.
- Middle East casting output grew 7% in 2023, UAE and Saudi Arabia key players.
- Africa’s casting production was 1.8% global in 2022, South Africa 45% continental.
- Japan’s share declined to 4% of global in 2023 from 6% in 2010.
- South Korea 2.5% world share in 2023, strong in aluminum die casting.
- Mexico captured 1.2% global output in 2023, boosted by NAFTA proximity.
- Russia’s casting production share 5% in 2022, focused on heavy industry.
- Turkey represented 3.2% of world castings in 2023, export growth 8%.
- Germany 2.8% global share in 2022, premium quality leader.
- Italy 1.5% world production in 2023, automotive and machinery focus.
- France 0.9% share in 2022, aerospace 30% of output.
- UK casting share 0.5% global in 2023, shift to high-value.
- Brazil 3% Latin America leader, 2.8 million tons absolute.
- Poland 1.3% Europe share in 2023, cost-competitive.
- Thailand 0.7% Asia share growing rapidly in electronics.
- Vietnam emerging with 0.9% global in 2023, FDI driven.
- Spain 0.8% Europe output share in 2022.
- Australia 0.4% Oceania dominant, mining sector.
- Indonesia 1.6% SEA leader in 2023.
- Czech Republic 0.3% EU share, precision castings.
- Sweden high-tech 0.2% global, alloys focus.
- Canada 1% North America, aluminum exports.
Regional Analysis Interpretation
The world's foundries are clearly casting their lot with Asia, which now produces a staggering 82% of global output, leaving North America and Europe to fiercely compete over the remaining, high-value 18% of the market.
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