What is Global Foundry Chemicals Market?
The Global Foundry Chemicals Market is a vast and dynamic sector that encompasses a wide range of chemicals used in the foundry industry. These chemicals are integral to various stages of metal casting processes, from mold and core making to metal treatment and finishing. The market is driven by the increasing demand for high-quality castings in various industries such as automotive, aerospace, and construction. However, the market also faces challenges such as stringent environmental regulations and the need for sustainable and eco-friendly solutions. Despite these challenges, the market continues to grow, fueled by technological advancements and the increasing adoption of foundry chemicals in emerging markets.
Binders, Additive Agents, Coatings, Fluxes, Hot Topping Compounds, Others in the Global Foundry Chemicals Market:
Binders, additive agents, coatings, fluxes, hot topping compounds, and others are some of the key product types in the Global Foundry Chemicals Market. Binders are used to bind sand grains together to form molds and cores. Additive agents are used to enhance the properties of the binders, while coatings are applied to the molds and cores to improve their surface finish and dimensional accuracy. Fluxes are used in the melting process to remove impurities and to control the chemical composition of the molten metal. Hot topping compounds are used to insulate the top surface of the molten metal in the mold to prevent premature solidification. Other types of foundry chemicals include release agents, parting agents, and cleaning agents. Each of these product types plays a crucial role in ensuring the quality and efficiency of the casting process.
Cast Iron, Steel, Aluminum, Others in the Global Foundry Chemicals Market:
The Global Foundry Chemicals Market finds extensive usage in the casting of various metals such as cast iron, steel, aluminum, and others. In the case of cast iron, foundry chemicals are used to control the graphite structure and to improve the mechanical properties of the castings. For steel castings, foundry chemicals are used to control the carbon and sulfur content and to improve the surface finish. In aluminum casting, foundry chemicals are used to control the gas porosity and to enhance the fluidity of the molten metal. Other metals where foundry chemicals are used include copper, zinc, and magnesium. The choice of foundry chemicals depends on the type of metal being cast, the casting process used, and the specific requirements of the end product.
Global Foundry Chemicals Market Outlook:
Looking at the market outlook, the Global Foundry Chemicals Market was valued at a significant US$ 1859.8 million in 2022. The market is expected to witness a steady growth, reaching an estimated value of US$ 2187.3 million by 2029. This growth trajectory, representing a Compound Annual Growth Rate (CAGR) of 3.1%, is expected to be maintained during the forecast period of 2023-2029. This growth can be attributed to the increasing demand for foundry chemicals in various industries, coupled with technological advancements in the field. However, the market also faces potential challenges, including the need for sustainable and eco-friendly solutions and the impact of stringent environmental regulations. Despite these challenges, the market is poised for steady growth in the coming years.
| Report Metric | Details |
| Report Name | Foundry Chemicals Market |
| Accounted market size in 2023 | US$ 1821.2 million |
| Forecasted market size in 2029 | US$ 2187.3 million |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Vesuvius, ASK Chemicals, HÜTTENES-ALBERTUS Chemische Werke GmbH, Imerys, IVP Limited, General Chemical, Affcil Industries, Georgia-Pacific Chemicals, Ultraseal India, John Winter, Yash Chemicals, Fincast Foundry Flux, Mancuso Chemicals, Forace Polymers, Shamlax Metachem, CERAFLUX INDIA |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
