Iron & Steel Casting Market

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Iron Steel Casting Market 2021 Global Trends,
Business Overview, Challenges, Opportunities
Analysis and Forecast to 2027
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Global Market Scenario of Iron Steel Casting
Industry

• As per a report published by Global Market
  Insights, the global iron and steel casting
  market share was estimated at 145.97 billion in
  2020, and is slated to surpass 210 billion by
  2027, registering a CAGR of 5.4.
• The iron and steel casting market is expected to
  witness lucrative growth owing to expansion of
  automotive manufacturing units and thriving
  demand from the infrastructure and construction
  sector.
• Cast steel is used in multiple ranges of
  industrial machinery such as pump casings,
  turbocharger turbines, hydroelectric turbine
  wheels, mining machinery, marine equipment,
  engine cylinder blocks, etc. Cast iron is used in
  internal combustion engine cylinder blocks,
  gears, machinery bases, pump housings, oil well
  pumps, wind turbine housings, linkages, hydraulic
  components, etc. Along with this, cast iron is
  also used to manufacture agricultural machinery
  parts for plows, tillage equipment, tractors,
  balers, planters, and spreaders. Rising
  industrialization along with favorable trends may
  further propel the industry growth in the
  estimated timeframe.

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• Rising demand for industrial development, sports
  luxury vehicles, increasing expenditure on both
  residential commercial construction, and
  intensifying defense and aerospace investments is
  ecpected to impel North American iron and steel
  casting market revenue share. As per a report,
  North America iron and steel casting market will
  witness around 6 CAGR in the coming years.
• Notably, low alloy steel is used in construction
  equipment, pipelines, pressure vessels oil
  drilling platforms, as well as in military
  vehicles as to its superior machinability and
  cost-effectiveness. Meanwhile, high alloy steel
  are used in automotive applications, chemical
  processing, structural components, and power
  generating equipment.
• Other casting segment includes continuous casting
  process and investment casting process. Estimates
  suggest that the segment is expected to record
  around 3 CAGR in iron steel casting market in
  terms of volume. Continuous casting process helps
  in cast shapes irregular configurations. It
  operates excellently in pressure conditions.
  Investment casting produces components with
  excellent surface finish and high dimensional
  accuracy. However, this process is complicated
  and expensive.

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360 Industry Analysis

• COVID-19 pandemic has impacted the global iron
  and steel casting market. Strict lockdowns and
  travel bans imposed by the government have
  resulted in declining sales and import-export of
  the iron and steel casting.
•  

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• Competitive Analysis
• Tata Steel, Nelcast Limited, CALMET, Uniabex
  Waupaca Foundry, Inc., Nippon Steel Corporation,
  Nucor Corporation, Hitachi Metals Co., Ltd.,
  Baosteel Group Corporation, Thyssenkrupp AG, HBIS
  Group Co., Ltd., Voestalpine Group,
  ArcelorMittal, and POSCO are some of the key
  players operating in the Iron Steel Casting
  Market.

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Latest Research Report On Iron Steel Casting
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is/iron-and-steel-casting-market Request for
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