Top Insights on the Global Metal Casting Market| Technavio

Technavio has published a new market research report on the global metal casting market from 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global metal casting market to grow to 120, 951 000’s MT by 2022, according to their latest market research report.

One of the major trends being witnessed in the market is the incorporation of casting process stimulation technology. Stimulation technology is used to produce reliable, high-precision, and cost-effective components through the casting method. It also helps in enhancing casting yield and reducing the overall processing time. When compared with conventional casting methods, stimulation-based casting helps in easy detection and elimination of defects to optimize the feed ability of the casting process.

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In this report, Technavio analysts highlight the increasing adoption of X-ray casting defect recognition as a key factor contributing to the growth of the global metal casting market:

Increasing adoption of X-ray casting defect recognition increases efficiency: a major driver

Metal casting industries use automatic or assisted defect recognition (ADR) in X-ray applications. With X-ray technology undergoing several technological upgradations in its tube and software incorporated with improved algorithms, the demand for this technology is increasing in the production processes. The inline ADR system is still used in the production processes.

According to a senior analyst at Technavio for unit operations, “Digital radiography technology is accepted in an array of end-user markets and has thus presented several opportunities for the development of software tools. The use of digital imaging technology in production processes have made it easy to process images that helps in increasing the overall process efficiency as it helps in deciding whether to accept or reject the produced part.”

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Global metal casting market segmentation

This market research report segments the global metal casting market into the following end-users (automotive, IM, A&D, and CM) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the four major end-users, the automotive segment held the largest market share in 2017, accounting for over 23% of the market. This end-user is expected to dominate the global market throughout the forecast period.

APAC was the leading region for the global metal casting market in 2017, accounting for a market share of more than 64%. This region is anticipated to grow steadily during the period 2018-2022.

 

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio analysts forecast the global metal casting market to grow to 120, 951 000’s MT by 2022, according to their latest market research report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com