At 5.4% CAGR, the Europe Metal Casting Market is projected to be worth US$ 42,574.85 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Europe metal casting market was valued at US$ 27,933.63 million in 2022 and is expected to reach US$ 42,574.85 million by 2030, registering a CAGR of 5.4% from 2022 to 2030. Growing automotive and construction industry and rising demand for industrial machineries are the critical factors attributed to the Europe metal casting market expansion.             

The rising demand for lightweight materials is a key opportunity influencing the growth and evolution of metal casting market. Industries such as automotive, aerospace, and even certain segments of consumer goods are increasingly prioritizing materials that offer high strength while being lighter in weight. This shift is primarily driven by the need to enhance fuel efficiency, reduce emissions, and improve overall performance.

Metal casting techniques play a crucial role in meeting this demand for lightweight materials by offering the ability to produce intricate and complex components from alloys like aluminum, magnesium, and their composites. These alloys possess favorable characteristics such as high strength-to-weight ratios, corrosion resistance, and excellent formability, making them ideal for applications requiring reduced weight without compromising structural integrity. In the automotive sector, for instance, lighter metal cast components, particularly engine parts and structural elements, contribute to enhanced fuel efficiency and better overall vehicle performance. Similarly, in the aerospace industry, utilizing lightweight metal castings in aircraft components helps reduce fuel consumption and increases payload capacity.

The metal casting market’s response to this demand involves continuous research and development into innovative alloys, casting processes, and technologies to optimize lightweight materials’ properties and performance.

On the contrary, availability of metal casting alternatives hampers on the growth of Europe metal casting market. 

Based on product type, the Europe metal casting market is segmented into carbon steel alloys, stainless steel alloys, aluminum alloys, grey iron, ductile iron, and others. The grey iron segment held 33.6% market share in 2022, amassing US$ 9,395.51 million. It is projected to garner US$ 14,973.12 million by 2030 to expand at 6.0% CAGR during 2022–2030.

Based on process, the Europe metal casting market is divided into sand casting, investment casting, gravity die casting, and others. The sand casting segment held 64.4% share of Europe metal casting market in 2022, amassing US$ 17,996.43 million. It is projected to garner US$ 27,991.85 million by 2030 to expand at 5.7% CAGR during 2022–2030.

Based on application, the Europe metal casting market is segmented into automotive, aerospace, marine, textile, building and construction, oil and gas, industrial machinery, and others. The automotive segment held 31.0% share of Europe metal casting market in 2022, amassing US$ 8,652.53 million. It is projected to garner US$ 13,550.39 million by 2030 to expand at 5.8% CAGR during 2022–2030.

Based on country, the Europe metal casting market has been categorized into Germany, France, UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 31.6% share of Europe metal casting market in 2022. It was assessed at US$ 8,825.55 million in 2022 and is likely to hit US$ 13,024.62 million by 2030, exhibiting a CAGR of 5.0% during 2022–2030.            

Key players operating in the Europe metal casting market are Alcoa Corp, Allard-Europe NV, ArcelorMittal SA, FONDERIA AUGUSTA Srl, Lucchini RS SpA, MEDEKO CAST Sro, Novacast Ltd, Posco Holdings Inc, RYOBI Aluminium Casting (UK) Ltd, and Tycon Alloy Industries (HongKong) Co Ltd, among others.

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