The metal casting market is poised to grow by 13.44 million tons during 2020-2024, progressing at a CAGR of over 2% during the forecast period
The market is driven by the increasing adoption of X-ray casting in defect recognition. In addition, the rising use of casting process simulation technology is anticipated to boost the growth of the metal casting market.
X-ray technology is gaining traction in the market due to incorporation of several technological upgradations in its tubes or software with improved algorithms. This technology is extensively used in the metal casting industries for production or implementation of the metal casting process. Automatic or assisted defect recognition (ADR) is used in X-ray applications to enable process inspectors to accept or reject cast parts automatically in case of casting errors. The inline ADR system performs its function in a reliable and repeatable fashion. It is programmed to make either an “Accept” or “Reject” decision based on the parameters fed by a quality engineer. Thus, the increasing use of X-ray casting technology in defect recognition is expected to drive market growth during the forecast period.
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Major Five Metal Casting Market Companies:
Acast operates the business under various segments such as Casting, Forging, Heat Treatment, Machining, and Others. The company offers Investment Casting, Precision Casting, and Sand Casting.
Alcast Co. offers Alcast Permanent Mold Aluminum Foundry Aluminum Casting. This casting process includes Electromagnetic, Bottom Fill, and Permanent Mold Aluminum Casting, Semi Permanent Mold Aluminum Casting, Alcast Tilt Pour Aluminum Casting, and Hall Tilt Pour Aluminum Casting.
Alcoa Corp. operates under various business segments, namely Aluminum, Alumina, and Bauxite. The company offers sustainable and differentiated range of aluminum cast products for building and construction, automotive, electrical, transportation, and industrial markets.
Berkshire Hathaway Inc.
Berkshire Hathaway Inc. offers products through the following business segments: Insurance, Manufacturing, McLane Company, Service and retailing, and Others. The company offers PCC Structurals and PCC Airfoils.
Bühler AG offers products through the following business segments: Grains & Food and Advanced Materials. The company provides tailored and automation solutions of die-casting, with integrated control systems.