REPORT DESCRIPTION
Iron & steel casting is a phenomenon that takes place in a foundry , wherein molten iron is poured into a vessel or cast to create a desired shape . Cast materials are usually metals or cold setting materials such as concrete , epoxy , plaster , clay , ceramic or iron in which molten fluid is poured to get various shapes and sizes . Iron & steel castings are used in the production of various intermediate products , which are employed in various application industries . Thus , the performance of this market significantly depends on key downstream markets . Most end-user industries rely on iron & steel casting materials for the production of finished products . For instance , mining , construction , and automotive are some of the enduser industries that rely heavily on the iron & steel casting market for production of finished products such as mining machines , construction equipment , and automotive parts .
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Almost all metals such as iron , copper , aluminum , and steel can be cast . However , the most common ferrous metals include grey iron , ductile iron , steel , and malleable iron . Alloys of iron & steel are widely used for casting in high performance application industries such as automobile , heavy equipment , industrial machines , and defense equipment . The iron & steel casting market is expanding steadily due to robust growth in construction and mining industries , especially in Southeast Asia and Eastern Europe . Increasing demand for iron & steel casting in automobile and electrical industries is anticipated to propel the growth of the market . Furthermore , demand for steel plates in the construction industry is expected to rise significantly in the near future due to increase in infrastructure-building activities .
Replacement of iron & steel casting with aluminum-based alloys casting in several applications such as aircraft body and automotive body is likely to meet the demand for iron & steel casting to some extent . Additionally , iron & steel casting requires intensive energy . This is a restraining factor in the market . Upgrade of technology to felicitate manufacturing process and development of low weight iron & steel casting plates and pipes is projected to provide potential opportunities in the market .