SAN FRANCISCO, September 9, 2021 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Industrial Castings – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
FACTS AT A GLANCE
Editing: 16; Published: April 2021
Executive Pool: 2508
Companies: 94 – Players covered include Alcoa Corp. ; Avalon Precision Metalsmiths; AvioCast Inc.; Bradken Ltd. ; Doncasters Group; Doosan Heavy Industries & Construction; Esco Corp.; Georg Fischer SA; GIW Industries, Inc.; Great Lakes Castings LLC; Intercast & Forge Pty. ltd. ; Kubota Corp. ; Meridian Lightweight Technologies; Pace Industries; Precision Castparts Corp. ; Ryobi Ltd. ; Shiloh Industries Inc.; Titanium Metals Corp. and others.
Blanket: All major geographies and key segments
segments: Product Segment (Grey Iron Castings, Ductile Iron Castings, Aluminum Castings, Steel Castings, Other Product Segments)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global Industrial Castings Market to Reach 149.1 Million Metric Tons by 2026
Amid COVID-19 Crisis, the Global Industrial Castings Market estimated at 115.7 Million Metric Tons in 2020, is projected to reach a revised size of 149.1 Million Metric Tons by 2026, expanding at a CAGR of 4.2% over the analysis period. . Gray Iron Castings, one of the segments analyzed in the report, is expected to register a CAGR of 4% and reach 67.2 million metric tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, the growth of the ductile iron castings segment is readjusted to a revised CAGR of 4.7% for the next 7-year period.
The US market is estimated at 32.3 million metric tons in 2021, while China is expected to reach 31.2 million metric tons by 2026
The industrial castings market in the United States is estimated at 32.3 million metric tons in 2021. China, the world’s second largest economy, is expected to reach a projected market size of 31.2 million metric tons by 2026 growing at a CAGR of 7.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 1.4% and 3.2% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 2.2%.
Aluminum Castings Segment to Reach 25.3 Million Metric Tons by 2026
In the global aluminum castings segment, United States, Canada, Japan, China and Europe will drive the CAGR of 3.7% estimated for this segment. These regional markets representing a combined market size of 14.8 million metric tons in 2020 will reach a projected size of 19.1 million metric tons by the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Following
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About Global Industry Analysts, Inc. and StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving over 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.