The Central & South America iron casting market size is expected to reach USD 3.03 billion by 2030., expanding at a CAGR of 3.8% during the forecast period. Market growth is attributed to an increase in investment in railways and the growing electricity demand that requires large-scale power generation. Based on product, the market is segmented into gray, ductile, and malleable cast iron. The ductile segment held the second-largest revenue share in 2022 of the overall market on account of its growing demand for railways and pipes & fittings. The product possesses graphite particles that precipitate in spherical form resulting in its high strength and toughness.
Based on application, the market is segmented into machinery & tools, pipes & fittings, automotive, railways, power generation, and others. Pipes & fittings is one of the vital segments of the market. The CSA region is witnessing a rise in the number of projects related to sanitization, sewage, and wastewater treatment, which is expected to fuel growth in the coming years. Based on data from Brazil's Ministry of Regional Development, the country faces a lack of proper sewerage and sanitation systems. To address this issue, Brazil secured a loan from the Inter-American Development Bank in December 2022 to improve water, sewerage, and sanitation services in Joinville, one of its municipalities.
This development is expected to increase the demand for iron castings in the pipes and fittings application segment of the regional market. The presence of various small- and medium-sized iron casting manufacturers has intensified competitive rivalry in Central & South America. Several measures by governments for economic revival, such as investments by the Development Bank of Latin America & the Caribbean (CAF), are resulting in increasing manufacturing activities with iron foundries supporting key industries to cater to the anticipated rise in castings demand.
Based on application, the market is segmented into machinery & tools, pipes & fittings, automotive, railways, power generation, and others. Pipes & fittings is one of the vital segments of the market. The CSA region is witnessing a rise in the number of projects related to sanitization, sewage, and wastewater treatment, which is expected to fuel growth in the coming years. Based on data from Brazil's Ministry of Regional Development, the country faces a lack of proper sewerage and sanitation systems. To address this issue, Brazil secured a loan from the Inter-American Development Bank in December 2022 to improve water, sewerage, and sanitation services in Joinville, one of its municipalities.
This development is expected to increase the demand for iron castings in the pipes and fittings application segment of the regional market. The presence of various small- and medium-sized iron casting manufacturers has intensified competitive rivalry in Central & South America. Several measures by governments for economic revival, such as investments by the Development Bank of Latin America & the Caribbean (CAF), are resulting in increasing manufacturing activities with iron foundries supporting key industries to cater to the anticipated rise in castings demand.
Central & South America Iron Casting Market Report Highlights
- Brazil is anticipated to register a CAGR of 3.7%, in terms of revenue, over the forecast period due to the increasing infrastructure development projects, flourishing energy generation industry, and high investments by automobile manufacturers in the country
- The ductile cast iron product segment accounted for a revenue share of over 36.0% in 2022 due to increased product penetration in various end-use industries, including power generation, pipes & fittings, machines & tools, and automotive
- The automotive application segment is anticipated to dominate the market over the forecast period. The segment growth is, however, expected to be hindered by the rising preference for aluminum casting in vehicle production
- Competitive rivalry is high in the market. For instance, in 2022, Metso Outotec, a casting producer with a presence in Brazil, China, and India, decided to evaluate the future of the Czech Republic foundry. This is mainly due to increased energy and production costs
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Central & South America Iron Casting Market Variables, Trends, and Scope
Chapter 4. Central & South America Iron Casting Market: Product Estimates & Trend Analysis
Chapter 5. Central & South America Iron Casting Market: Application Estimates & Trend Analysis
Chapter 6. Central & South America Iron Casting Market: Regional Estimates & Trend Analysis
Chapter 7. Central & South America Iron Casting Market: Competitive Analysis
List of Tables
List of Figures
Companies Mentioned
- Boherdi Foundry
- CALMET
- Fundición Callao SA
- Funvesa
- Industrias Ascheri & Cia.
- Grupo Industrial Saltillo (GIS)
- ISOFUND
- LEPE
- WHB Brasil
- Fagor Ederlan
- Teksid SpA
- Fundição Regali Brasil
- Castertech (Randon Companies)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 86 |
| Published | September 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 2.26 Billion |
| Forecasted Market Value ( USD | $ 3.03 Billion |
| Compound Annual Growth Rate | 3.8% |
| No. of Companies Mentioned | 13 |
