DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com has added the "Metal Casting Market: Global Industry Trends, Share, Scale, Growth, Opportunities, and Forecasts 2021-2026" report to ResearchAndMarkets.com's products.
The global metal casting market has shown strong growth during 2015-2020. Looking ahead, the global metal casting market will grow at a compound annual growth rate of 7.6% from 2021 to 2026.
Metal casting is the process of pouring molten metal into a hollow container with a desired geometry to form a solidified part. There are many reliable and effective metal casting materials, such as gray cast iron, ductile iron, aluminum, steel, copper, and zinc.
Metal casting can produce objects with complex shapes and is less costly than other manufacturing processes used to produce medium to large numbers of castings.
Cast metal products are an indispensable part of human life and economy because they are present in 90% of manufactured products and equipment, from household appliances and surgical equipment to key components of airplanes and automobiles.
Metal casting technology has many advantages; it helps to improve energy efficiency, reduce production costs, improve environmental quality, and create innovative new casting products. Because of these advantages, it is used in pipelines and fittings, mining and oilfield machinery, internal combustion engines, railways, valves and agricultural equipment, which all rely heavily on casting to manufacture unified products.
In addition, metal casting foundries rely on metal recycling as a cost-effective source of raw materials, which significantly reduces scrap metal.
In addition, continuous research in the field of metal casting ensures innovation and improvement of casting processes, including lost foam casting and the development of computer-based visualization tools for die casting machines to create alternative molding methods. These advanced casting technologies enable casting researchers to produce defect-free castings and help them explore detailed phenomena related to new casting process parameters.
In addition, deteriorating environmental conditions have prompted manufacturers to develop simulation-based castings to reduce waste and operating costs.