What is Global Gray Iron Castings Market?
The Global Gray Iron Castings Market is a vast and dynamic sector that deals with the production and distribution of gray iron castings worldwide. Gray iron castings are a type of iron that is characterized by its gray color when fractured, due to the presence of graphite. These castings are widely used in various industries due to their excellent machinability, good wear resistance, and remarkable damping capacity. The market for these castings is global, meaning it encompasses all regions of the world, from North America and Europe to Asia-Pacific and the Middle East. The market's value was estimated at US$ 53030 million in 2022, and it is projected to grow to US$ 60170 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 1.8% from 2023 to 2029. However, it's important to note that the market is not evenly distributed across the globe. Europe and America, for instance, account for about 25% of the market's total revenue. Furthermore, the top 5 companies in the market only account for nearly 3% of the total revenue in 2019.
Vertical Molding, Horizontal Molding in the Global Gray Iron Castings Market:
The Global Gray Iron Castings Market is segmented based on the molding process into vertical molding and horizontal molding. Vertical molding is a process where the mold is created vertically, while horizontal molding involves the creation of the mold horizontally. Each of these molding processes has its own advantages and disadvantages, and the choice between the two often depends on the specific requirements of the casting. For instance, vertical molding is typically used for large, complex castings, while horizontal molding is more suitable for smaller, simpler castings. The market for these two types of molding is also global, with different regions favoring one type over the other based on their specific industrial needs. However, no specific data is available on the market share of each type of molding in the Global Gray Iron Castings Market.
Automotive, Agriculture, Construction and Mining, Machinery & Equipment, Municipal, Energy, Others in the Global Gray Iron Castings Market:
The Global Gray Iron Castings Market finds its applications in various sectors including automotive, agriculture, construction and mining, machinery & equipment, municipal, energy, among others. In the automotive sector, gray iron castings are used in the production of engine blocks, brake discs, and other components due to their excellent machinability and wear resistance. In the agriculture sector, they are used in the manufacturing of various farming equipment. In the construction and mining sector, gray iron castings are used in the production of various machinery and equipment due to their high strength and durability. In the municipal sector, they are used in the production of various infrastructure components. In the energy sector, gray iron castings are used in the production of various components of power generation equipment. However, no specific data is available on the market share of each of these sectors in the Global Gray Iron Castings Market.
| Report Metric | Details |
| Report Name | Gray Iron Castings Market |
| Accounted market size in 2023 | US$ 54070 million |
| Forecasted market size in 2029 | US$ 60170 million |
| CAGR | 1.8 |
| 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 | Hitachi Metals, Grede Foundry, Draxton, MAT Foundry, Metal Technologies, Neenah Foundry, Denizciler, INTAT Precision, Kutno, Farinia Group, Rochester Metal Products, Willman Industries, Aarrowcast, Weichai Power (Weifang) Casting, Huaxiang Group, Meide Group, Tianjin New Wei San Industrial, Faw Foundry |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
