Iron Casting Market Size & Trends
Projected to be USD 117.4 billion in 2024, the worldwide iron casting market is predicted to rise at a CAGR of 6.8% from 2025 to 2030. Rising investments in the rail sector globally and demand for iron cast pipes from water-related infrastructure projects and oil & gas are expected to propel market expansion.
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Key Highlights
- Asia Pacific dominated the industry, with a revenue share of 66.9% in 2024.
- The North American iron casting market is set to experience steady growth, driven by robust economic indicators and substantial investments in infrastructure.
- In terms of the application segment, Graycast Iron held a revenue share of over 64.0% in 2024.
- In terms of application segment, in 2024, the automotive industry held the largest revenue share of the global iron casting market.
We anticipate the railway application to register a CAGR of 8.1% in revenue during the forecast period. Rising investments in railway infrastructure are anticipated to positively impact the iron casting market growth over the forecast period. For instance, in April 2025, the 135-year-old rail bridge over the Mithi River in Bandra, Mumbai, one of the last remaining cast-iron screw-pile bridges on Indian Railways, began to be dismantled and replaced, marking the end of the cast-iron era in Indian railway infrastructure. Built in 1888, the bridge featured eight massive cast iron pillars weighing 8-10 tons and extending 15-20 meters deep into the riverbed to anchor the structure. This transition is significant in the context of iron casting, as the bridge’s original screw-pile design exemplified the 19th-century engineering marvels made possible by cast iron technology.
Cast iron, known for its compressive strength and moldability, was widely used in bridge construction during the industrial era. However, the material’s brittleness and susceptibility to corrosion over time have led to structural vulnerabilities, especially in critical infrastructure like railways. The replacement of the Mithi River Bridge with RCC reflects the broader shift in civil engineering from cast iron toward more durable and resilient materials, ensuring greater safety and longevity for modern rail networks.
Growing concerns among individuals about the potential health risks from non-stick cookware and increasing global demand for toxin-free kitchen cookware have led cast iron cookware manufacturers to increase their production capacity. Over the forecast period, we expect this to positively influence the growth of the gray cast iron segment of the market. For instance, in September 2024, Caraway announced the launch of its new Enameled Cast Iron Cookware Collection, a major expansion of its non-toxic, design-driven kitchenware offerings. This collection combines traditional cast iron durability and heat retention with a unique three-layer enamel coating that eliminates seasoning and ensures easy cleaning.
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Report Coverage & Deliverables
The PDF report & online dashboard will help you understand
- Competitive benchmarking
- Historical data & forecasts
- Company revenue shares
- Regional opportunities
- Latest trends & dynamics
Drivers, Opportunities & Restraints
The global iron casting industry rebounded in 2024, driven by resurgent demand from end-use sectors such as machinery & tools, railway, and energy infrastructure. A notable development during this time was the French government's commitment to invest EUR 170 million (~USD 188.2 million) annually until 2024 to enhance rail freight transportation as part of a broader sustainability initiative. This effort followed an earlier investment of EUR 3.5 billion (~USD 3.87 billion) over six years to regenerate trains and rail routes.
Additionally, the machine tools sector recorded a robust recovery. In Q4 2021, Italy posted double-digit growth in machine tool orders, with a 70.1% increase in the order index to 130.4 compared to 2020. This spike was driven by foreign demand, an active domestic market, and government support for industrial modernization.
The automotive sector, historically a key consumer of gray iron castings, has seen a gradual decline in gray iron usage due to the growing emphasis on vehicle lightweighting and fuel efficiency. Automakers increasingly adopt aluminum and other lightweight materials to meet stringent emission and performance standards, which has constrained gray iron demand in automotive applications.
Aluminum castings are preferred mainly in various industries, especially automotive, which affects the consumption of iron castings. Automakers are under regulatory pressure to improve vehicle efficiency and reduce the environmental impact of greenhouse gas emissions. Aluminum is considered a sustainable material owing to its contribution to reducing carbon dioxide (COâ‚‚). It prevents around 70 million tons of unwanted COâ‚‚ from mixing into the air. In vehicles, using 100 kilograms of aluminum can help save 46 liters of fuel per year.
Product Insights & Trends
Gray cast iron held a revenue share of over 64.0% in 2024. Its growing applications in various industries, including railways and pipes & fittings, propel the segment's growth in the iron casting industry. It has graphite particles that precipitate in a spherical form, resulting in ductile iron's high strength and toughness. Ductile cast iron is anticipated to register a CAGR of 7.0% in terms of revenue across the forecast period, ranging from 2025 to 2030.
Ductile cast iron is widely used for manufacturing tractors and implement parts, crankshafts, cylinder heads, switch boxes, electrical fittings, motor frames, flywheels, drive pulleys, work rolls, and circuit breakers. Its microstructure results in more ductile cast iron than gray or white cast iron, making it suitable for producing water and sewage pipes.
Numerous industries, including agriculture, tools and equipment, automotive, metal, and mining, widely use malleable cast iron. It manufactures electrical fittings and equipment, washers, brackets, hand tools, mining hardware, pipe fittings, farm equipment, bearing caps, steering gear housing, and machine parts.
Application Insights & Trends
In 2024, the automotive industry held the largest revenue share of the global iron casting market. Engine blocks are usually cast from aluminum alloy or cast iron. Although aluminum offers weight reduction, cast iron is preferred owing to factors such as durability, the ability to resist high internal pressure, more strength, more horsepower, and cost-efficiency. In 2024, the automotive industry held a revenue share of over 29% in the global iron casting market.
Tata Motors plans to introduce Avinya, an all-electric luxury brand, in January 2025, positioning it above its current Tata lineup and below Land Rover. The connection to iron casting lies in the manufacturing and structural requirements of premium electric vehicles like Avinya. While the EMA platform emphasizes lightweight materials and advanced battery integration, iron casting remains crucial for specific components that require high strength and durability, such as subframes, suspension mounts, and specific drivetrain elements.
Machinery and tools widely use iron castings due to their good wear resistance, high strength, and good machinability. While steel can serve as an alternative to cast iron, the manufacturing of machine tools prefers ductile iron due to its superior vibration-damping capacity.
Regional Insights
The North American iron casting market is set to experience steady growth, driven by robust economic indicators and substantial investments in infrastructure. According to the International Monetary Fund (IMF), the real GDP growth in North America was estimated at 2.3% in 2023, with a slight decline to 2.0% in 2024 and 2025. The U.S. economy is a key contributor to this growth, highlighting the region's commitment to enhancing its economic landscape through significant construction and infrastructure initiatives.
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U.S. Iron Casting Market Trends
In the U.S., infrastructure revitalization projects-spurred by the Bipartisan Infrastructure Law-boosted the need for ductile and gray iron castings used in piping, bridges, and heavy machinery. The U.S. dominated the North American iron casting market with a revenue share of over 84% in 2024. U.S.-based foundries like Waupaca Foundry and Neenah Enterprises ramped up production capacity to meet increased domestic demand and reduce dependency on imported components. Simultaneously, the rise of electric vehicle (EV) manufacturing in Michigan and other automotive hubs led to increased investment in precision castings, particularly for lightweight and heat-resistant iron components.
Asia Pacific Iron Casting Market Trends
Asia Pacific dominated the industry, with a revenue share of 66.9% in 2023. Asia Pacific is one of the world's largest consumers of iron castings. The increasing demand for iron castings in various industries, such as infrastructure and construction, automotive, renewables, machine tooling, and pipes, is anticipated to augment the demand over the forecast period. The countries in the region are investing in improving railway connectivity, which is anticipated to augment the demand for iron castings. For instance, in October 2021, the Vietnamese government announced it would invest USD 10.5 billion to build and upgrade rail infrastructure across the country by 2030.
Europe Iron Casting Market Trends
The iron casting industry in Europe is characterized by a strong industrial base, advanced manufacturing technologies, and a significant presence in end-user industries such as automotive, construction, and machinery. Countries like Germany, Italy, France, and the UK are leading contributors, with Germany holding a dominant position due to its well-established automotive and engineering sectors. European foundries benefit from stringent quality standards and environmental regulations that have led to the adoption of cleaner and more efficient casting techniques. The emphasis on lightweight and high-strength components, particularly in automotive and transportation, drives innovation in material formulations and process automation.
Key Iron Casting Company Insights
Some of the key players operating in the market include Proterial Ltd., LIAONING BORUI MACHINERY CO., LTD. (DANDONG FOUNDRY), and Brakes India.
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Proterial Ltd., originally founded as Tobata Foundry in 1910, has evolved into a global leader in high-performance materials manufacturing. The company has a rich history marked by key mergers and acquisitions, including collaborations with Hitachi Metals and other specialized firms.
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Dandong Foundry has nearly 70 years of experience in producing gray iron and ductile iron castings. The company’s annual output reaches 8,000 tons, and 50% of its products are exported to markets such as the U.S., Germany, Australia, the UK, Italy, and Japan, reflecting our strong global presence.
Key Iron Casting Companies
The following are the leading companies in the iron casting market. These companies collectively hold the largest market share and dictate industry trends.
- Proterial Ltd.
- LIAONING BORUI MACHINERY CO., LTD (DANDONG FOUNDRY)
- Brakes India
- OSCO Industries Inc.
- Chamberlain
- Crescent Foundry
- Georg Fischer Ltd
- Grupo Industrial Saltillo (GIS)
- Newby Holdings Limited
- Castings P.L.C.
- CALMET
Recent Developments
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In June 2022, Brakes India took the lead by collaborating with the Volvo Group to produce 'green castings' for engine components. Brakes India manufactures these castings using 100% renewable energy and sustainable practices to significantly reduce carbon emissions. The initiative is expected to produce over 180,000 tons of iron castings annually, potentially reducing COâ‚‚ emissions by 210 million tons across the industry if widely adopted. This collaboration underscores the growing emphasis on eco-friendly manufacturing processes in the automotive sector.
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Crescent Foundry has emerged as a leading cast iron product manufacturer, emphasizing quality and technological advancement. With a production capacity of 2,500 tons per month, the company caters to over 50 countries, supplying products for various sectors, including agriculture, telecom, and infrastructure. Their commitment to innovation is evident in their use of advanced technologies and adherence to international standards, positioning them as a key player in the global market.
Iron Casting Market Report Scope
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Report Attribute |
Details |
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Market size value in 2025 |
USD 124.2 billion |
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Revenue forecast in 2030 |
USD 172.4 billion |
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Growth rate |
CAGR of 6.8% from 2025 to 2030 |
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Base year for estimation |
2024 |
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Historical data |
2018-2023 |
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Forecast period |
2025-2030 |
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Quantitative units |
Revenue in USD million/billion, volume in kilotons, and CAGR from 2025 to 2030 |
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Report coverage |
Revenue & volume forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product, application, region |
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Regional scope |
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
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Country scope |
U.S.; Canada; Mexico; Germany; UK; France; Italy; Russia; Türkiye; China; India; Japan; South Korea; Indonesia; Brazil; Argentina; South Africa |
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Key companies profiled |
Proterial Ltd.; LIAONING BORUI MACHINERY CO., LTD (DANDONG FOUNDRY); Brakes India; OSCO Industries Inc.; Chamberlin; Crescent Foundry; Georg Fischer Ltd.; GIS (Grupo Industrial Saltillo); Newby Holdings Limited; Castings P.L.C.; CALMET |
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Customization scope |
We offer free report customization, equivalent to up to 8 analysts' working days, with every purchase. Changes or additions to the scope of the country, region, and segment are possible. |
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Pricing and purchase options |
Avail yourself of customized purchase options to meet your exact research needs. Explore purchase options |
Global Iron Casting Market Report Segmentation
This report forecasts volume & revenue growth at the global, country, and regional levels and provides an analysis of the latest trends in each of the subsegments from 2018 to 2030. For this study, MIR has segmented the report on the global iron casting market based on product, application, and region
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Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018-2030)
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Gray Cast Iron
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Ductile Cast Iron
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Malleable Cast Iron
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Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018-2030)
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Automotive
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Machinery & tools
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Pipes & fittings
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Railways
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Power generation
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Others
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Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018-2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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France
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Italy
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UK
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Russia
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Türkiye
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Asia Pacific
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China
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India
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Japan
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South Korea
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Indonesia
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Central & South America
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Brazil
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Argentina
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Middle East & Africa
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South Africa
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