Volume Insights on the Steel Casting Sector
The global steel casting sector volume projection was valued at 12,994.2 kilotons in 2024 and is projected to reach 21,030.2 kilotons by 2034, registering a CAGR of 5.0% from 2024 to 2034.
Volume Insights Strategic Overview
Allied Market Research announces the release of its comprehensive analysis of the global Steel Casting Market. Steel casting is a manufacturing process in which molten steel is poured into molds to form solid shapes. This process is one of the most versatile and efficient methods for creating intricate and large components used in various industries. Unlike other metals, steel casting combines the robustness and durability of steel with the flexibility of casting processes, making it an ideal choice for applications requiring both strength and precision. Steel castings are done through the use of molds made from a variety of materials, including sand, metal, or ceramic. The molten steel solidifies into the mold, and after cooling, the cast is removed & finished to the required specifications.
The casting process involves melting steel at high temperatures (around 1,500°C or 2,732°F) and then pouring it into pre-designed molds. These molds are crafted to the exact shape of the required final product, which vary significantly in terms of size, complexity, and function. After the molten steel has cooled and hardened, the product is removed from the mold and subjected to various finishing processes such as machining, heat treatment, and surface finishing to achieve the desired properties. Steel castings are often used in critical applications due to their strength, wear resistance, and versatility.
The report highlights the surge in global demand for steel casting, driven by an increase in demand for high-strength components. In the automotive sector, high-strength components are extensively utilized to manufacture components such as chassis, body structures, and safety reinforcements. The lightweight nature of high strength steel enables vehicles to achieve better fuel efficiency without compromising on safety standards, making it a preferred material for automotive manufacturers aiming to enhance performance and meet stringent regulatory requirements. Rise in proliferation of electric vehicles (EVs) further fuels this demand, as automakers seek materials that offset the weight of batteries without compromising safety or performance.
The global volume of carbon steel is expected to grow from 1,980.7 kilotons in 2024 to 6,879.9 kilotons by 2034, registering a CAGR of 5.3% during the forecast period. Casting of carbon steel is done to manufacture products such as engine blocks, gears, and structural components that are used across the automotive, construction, and machinery industries. The casting process offers the advantage of producing near-net-shape parts, which reduces material waste and machining time. Manufacturers are able to achieve high precision and consistency in the final product by pouring molten carbon steel into molds, which is critical for components that need to meet stringent performance standards.
Regional Steel Casting Sector Volume Growth
Asia-Pacific dominated the Steel Casting sector sales with a 48.4% share in 2024 and is expected to grow with 5.3% CAGR, while North America, Europe, and LAMEA are projected to show robust growth at 4.4%, 4.7%, and 5.0% CAGR, respectively, fueled by infrastructure development in steel casting.
The regional analysis highlights significant variations in adoption trends and market potential across the globe. Asia-Pacific led the market, contributing over 48.4% of the total volume in 2024 and is expected to grow at a CAGR of 5.3%, driven by advancements in additive manufacturing in countries such as China, India, and rest of Asia-Pacific. North America, led by the U.S. and Canada, is projected to maintain steady growth at 4.4% CAGR, fueled by growth in the aerospace sector. Europe, with key players such as Germany and France, is expected to grow at 4.7% CAGR, supported by development of smart cities. Meanwhile, LAMEA is expected to witness a substantial growth opportunity with 5.2% CAGR due to increase in need for durable cast components in rail systems in Brazil and Africa.
Steel Casting Sector Volume Growth, By Region, 2024-2034 (Kilotons)
Region | 2024 | 2028 | 2034 | CAGR (2025-2034) |
North America | 3,309.8 | 3,892.0 | 5,079.0 | 4.4% |
Europe | 2,387.9 | 2,841.3 | 3,776.7 | 4.7% |
Asia-Pacific | 6,287.6 | 7,657.3 | 10,537.5 | 5.3% |
LAMEA | 1,008.9 | 1,212.8 | 1,637.0 | 5.0% |
Total | 12,994.2 | 15,603.4 | 21,030.2 | 5.0% |
Source: AMR Analysis
Steel Casting Country Sector Sales
China and the U.S. led the Steel Casting market and are projected to reach 4,058.3 kilotons and 3,323.8 kilotons, respectively, by 2034 at a CAGR of 4.8% and 4.6%, respectively. India is the fastest growing country followed by Australia in terms of CAGR, where in India, steel casting industry has experienced substantial growth, driven by rise in demand from renewable energy sectors such as wind turbines and solar power installations. The steel casting industry in Australia is highly developed, with technological innovations in casting techniques.
The report identifies China and U.S. as the largest contributors to the steel casting market in terms of volume. In China, the use of Steel Casting has become popular due to technological advancements in conductor materials, such as advancements in casting simulation software, which have enhanced precision, reduced defects, and increased the overall efficiency & quality of steel cast products.
The China steel casting sector is projected to reach 4,058.3 kilotons by 2034, exhibiting a CAGR of 4.8%. However, the U.S., remains an important player in North America, growing with a CAGR of 4.6% by 2034.
Steel Casting Sector Volume Share, By Country, 2024-2034 (Kilotons)
Country | 2024 | 2028 | 2034 | CAGR (2025-2034) |
China | 2,541.0 | 3,036.4 | 4,058.3 | 4.8% |
India | 1,205.5 | 1,516.7 | 2,187.6 | 6.2% |
Japan | 1,130.5 | 1,367.2 | 1,861.6 | 5.2% |
U.S. | 2,128.7 | 2,520.7 | 3,323.8 | 4.6% |
Germany | 653.4 | 762.6 | 983.9 | 4.2% |
France | 473.4 | 563.3 | 748.9 | 4.7% |
UK | 360.9 | 434.4 | 587.4 | 5.0% |
Source: AMR Analysis
Advancements in Heat Treatment Processes Drives Steel Casting Sector Volume Trends
The report also highlights that the advancements in heat treatment processes have significantly enhanced the material properties of metals and alloys, enabling their application in demanding environments. Advanced heat treatment techniques are pivotal in industries such as aerospace, automotive, and manufacturing, where materials are subjected to extreme conditions. For instance, in the aerospace sector, components such as turbine blades undergo precise heat treatments to withstand high temperatures and mechanical stresses. Similarly, in automotive manufacturing, heat-treated parts such as gears and shafts exhibit enhanced durability and performance. Nitrex has invested in advanced heat treatment technologies, including the development of new sensors and control systems, to enhance process efficiency and sustainability. Moreover, Ipsen is repurposing its facility in Pecatonica, Illinois, to expand vacuum furnace hot zone production capacity, aiming to reduce delivery times and improve assembly control
Steel casting stakeholders should use the report’s insights to grab new opportunities and plans.
About Allied Market Research
Allied Market Research is a full-service research and business consulting firm that provides actionable insights and strategic recommendations to help clients make informed decisions and achieve sustainable growth. For more inquiries, please visit alliedmarketresearch.com.
About Allied Market Research
Allied Market Research is a full-service market research and business consulting firm, which provides actionable insights and strategic recommendations to help clients make informed decisions and achieve sustainable growth. For more inquiries, please visit alliedmarketresearch.com
