![]() Malleable cast iron has a microstructure that makes it suitable for applications requiring machinability and toughness. ![]() For instance, in June 2021, Welspun Corp Ltd., a manufacturer of pipes, planned to invest USD 211.8 million to set up a Greenfield facility at Anjar, India, to enter the ductile iron pipe business. Increasing demand for ductile cast iron in pipes & fittings is anticipated to drive the segment growth across the forecast period. The product is widely used for manufacturing tractors and implements parts, crankshafts, cylinder heads, switch boxes, electrical fittings, motor frames, etc. The product offers various advantages such as, that it can be twisted, bent, or deformed without fracturing. It is used in the automotive industry for manufacturing engine and brake components owing to its excellent vibration damping capacity.ĭuctile cast iron is expected to witness the fastest growth rate of 6.4%, in terms of revenue, across the forecast period. It is a widely used product owing to benefits such as low cost, high strength, durability, high compressive strength, ability to withstand thermal cycling, high tensile strength, and deformation resistance. Gray cast iron held the largest revenue share of more than 64.0% in 2021 of the global market. However, global vehicle production has been witnessing a consistent decline in the past few years, which is an ongoing challenge for the market. The automotive industry has been a prominent end-user of iron castings and dominates the market in terms of revenue and volume share. The plant has two foundry molding lines, which is expected to help the company produce at a much larger scale. to increase its production capacity by 70% in the U.S. For instance, in February 2021, Victaulic acquired the ductile iron foundry of Waupaca Foundry, Inc. The growing demand for castings has boosted competition in the country, which is compelling market players to adopt initiatives such as capacity expansions and mergers & acquisitions. This up-gradation of infrastructure is expected to be completed by 2025, which, in turn, is anticipated to propel the market growth in the country over the forecast period. government passed a USD 1 trillion Bipartisan plan to upgrade the infrastructure of the country, including water systems, airports, railways, power infrastructure, roadways, and bridges. Large-scale automobile plants, machinery & tool manufacturers, growing demand for pipes & fittings owing to the expanding petrochemical industry, and infrastructural developments are propelling the demand for the product in the country. holds the largest share of the North American iron casting market on account of the widespread presence of numerous manufacturers and end-users in the country. It is planning to invest EUR 1 billion (USD 1.11 billion) for strengthening the competition among rail freight operators and is expected to further invest EUR 170 million (USD 187.9 million) every year till 2024 for alleviating tracks. For instance, in October 2021, the French government announced an action plan to double the rail freight by 2030. Owing to the surge in the demand for improved railway connectivity, governments across the globe are investing in rail infrastructure improvement projects. Factors including favorable government policies toward the manufacturing sector and investment in rail infrastructure are anticipated to propel market growth. The global iron casting market size was valued at USD 101.17 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030.
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