Iron and Steel Casting Market Soars to $185.13 billion in 2025 Amid Rapid Industrialization and Infrastructure Development

Iron and Steel Casting Market

Significant Market Size Growth Predicted for Iron and Steel Casting: What Are the Figures?
The global iron and steel casting market has shown considerable growth in recent years, rising from $173.74 billion in 2024 to a projected $185.13 billion in 2025. This indicates a compound annual growth rate (CAGR) of 6.6%. Factors driving this historic period growth include advancements in metallurgy, a boom in urbanization and construction, development of the energy sector, rapid industrialization, and demanding defense needs due to world wars.

The future also looks promising for the iron and steel casting market, with an expected surge to $248.88 billion in 2029, indicating a CAGR of 7.7%. This forecasted growth can be attributed to the adherence to industry standards, advancements in materials, a focus on precision and quality, global market expansion, and numerous infrastructure development projects. The period is also expected to witness trends such as sustainable casting practices, product innovations, strategic partnerships, and technological advancements.

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What Is Propelling the Growth of the Iron and Steel Casting Market?
Government investments in infrastructure are significantly driving the growth of the iron and steel casting market. Investments refer to the development of tangible assets, such as energy infrastructure, roads, bridges, and highways that utilize cast iron and steel as essential building and construction materials. For example, in March 2022, the US government announced an additional investment of $166.5 million in 108 infrastructure projects under the Infrastructure Investment and Jobs Act (IIJA). This investment will positively impact the growth of the iron and steel casting market.

How Is The Iron And Steel Casting Market Classified?

1) By Type: Large Casting, Medium Casting, Small Casting
2) By Material Type: Gray Iron, Ductile Iron, Steel, Malleable Iron
3) By Application Type: Automotive And Transport, Pipes And Fittings, Pumps And Valves, Machinery And Equipment, Other Applications
4) By End-Use Type: Machine Tools, Mining, Transportation, Construction, Electrical, Steel Industry, Other End-Users

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Who Are The Major Players In The Iron And Steel Casting Market?
Key companies shaping the iron and steel casting market include ArcelorMittal S.A., AMSTED Industries Incorporated, Tata Steel Ltd., Evraz PLC, Hitachi Metals Ltd., Nucor Corporation, Kobe Steel Ltd., The ESCO Group, Calmet, Hyundai Steel Co. Ltd., Nelcast Limited, OSCO Industries Inc., Peekay Steel Castings Pvt. Ltd., Impro Industries USA Inc., MetalTek International, Tupy SA, Waupaca Foundry Inc., Neenah Foundry Company, Aarrowcast Inc., Dotson Iron Castings, Grede Holdings LLC, Metal Technologies Inc., Cifuns, Brantingham Manufacturing, Badger Foundry Company, Benton Foundry, Cast Technologies Inc., American Iron & Alloys Corporation, Liaoning Borui Machinery Co. Ltd.

What Are The Emerging Trends In The Iron And Steel Casting Market?
Notably, product innovations are gaining traction in the iron and steel casting market. For instance, in June 2022, Brakes India and Volvo Group launched “Green Iron Castings”, marking the industry’s first iron and steel product innovation. These green castings can potentially reduce CO2 emissions by up to 0.86 million tons for Volvo and 210 million tons for the industry.

Which Region Will Experience The Fastest Growth In The Iron And Steel Casting Market?
Asia-Pacific held the largest share in the iron and steel casting market in 2024, and it continues to be the fastest-growing region. The report provides detailed market analysis for regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Does The Iron And Steel Casting Market Report 2025 Offer?
Iron and steel casting refers to the process of forming objects from molten metal by using molds to create finished iron and steel goods. These are used for creating intermediate goods employed in a wide range of application sectors. The Iron and Steel Casting Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

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