Iron Casting Market in North America 2017-2021

Overview of the iron casting market in North America

According to Technavio’s market research and analysis, the increasing demand for gray cast iron will be one of the primary factors that will have a positive impact on the growth of the iron casting market in North America during the next few years. Gray iron is used prominently in several applications due to its high versatility. Its cost effectiveness, low reflectivity, and high density influences the usage and compatibility in several applications. Its high carbon content aids in easy melting, machining, welding, and casting during metalworks. Moreover, benefit such as its resistance to corrosion, high conductivity, and high stability also influence the rising consumption of gray cast iron. Owing to its benefits, it is highly used in various industries including automotive, machinery building, irrigation, electronics, and architecture. Moreover, it is also used in manufacturing cookware. This increased usage of gray cast iron will result in a rise in the need for iron castings, which will in turn, augment the market’s growth prospects. Our market research analysts estimate that this metal casting industry will grow at a CAGR of about 4% by 2021.

Foundries are implementing automated molding methods by adopting mechanized disamatic molding for sand molding, induction furnace for melting, and continuous casting for chemical sand binding. Stringent quality systems and eco-friendly techniques are also adopted by foundries to release less harmful emissions and cater to the environmental regulations. Casting foundries are implementing innovative and eco-friendly strategies for environmental stewardship. This industry research and analysis estimates that during the next few years, modernizations in the foundry industry will be one of the key trends that will gain traction in the iron casting market in North America.

Competitive landscape and key vendors

The iron casting market in North America is significantly fragmented due to the presence of various international and regional establishments that offer iron castings in various ranges. The market has vendors who offer a wide range of products to a small customer base and players who produce a limited number of products for a large group of customers. The key players account for the major market shares and compete intensely with the other players in this metal casting industry to improve their market shares.

The leading vendors in the market are

• American Axle & Manufacturing
• GIS
• Hitachi Metals
• Neenah Foundry
• OSCO INDUSTRIES

The other prominent vendors in the market are Aarrowcast, ACCURIDE INTERNATIONAL, Badger Foundry, Bremen Castings, Casting Solutions, Decatur Foundry, Deere & Company, Dotson Iron Castings, Elyria Foundry Company and Hodge Foundry, Rochester Metal Products, Teksid, The Quality Castings Company, WARD MANUFACTURING, Weil-McLain, and Wescast.

Segmentation by product type and analysis of the iron casting market in North America

• Gray cast iron
• Ductile cast iron
• Malleable cast iron

Gray iron is prominently used in several industries such as automotive and industrial machinery, as it is comparatively more user-friendly and cost-effective. The automotive industry uses gray iron castings as an ideal metal casts for engine blocks. Features such as the ability to withstand high pressures and temperatures, high strength-to-weight ratio, corrosion resistance, and greater wear resistance contribute to the high demand of gray cast iron.

Segmentation by application and analysis of the iron casting market in North America

• Automotive
• Industrial machinery
• Infrastructure and construction machines
• Power and energy

The demand and production of automobiles is rising simultaneously in North America. This is triggering the demand for iron castings that are used extensively in the fabrication of engine parts. Lightweight trucks and passenger cars are assembled and produced with an extensive range of iron cast parts and components. Our analysts have predicted that the automotive segment will account for the major shares of the iron casting market in North America during the next few years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the iron casting market in North America?
• What are the key market trends impacting the growth of the iron casting market in North America?
• What are the challenges to market growth?
• Who are the key vendors in the iron casting market in North America?
• What are the market opportunities and threats faced by the vendors in the iron casting market in North America?
• Trending factors influencing the market shares of the US, Canada, and Mexico.
• What are the key outcomes of the five forces analysis of the iron casting market in North America?

Technavio also offers customization on reports based on specific client requirement.