TechNavio recognizes the following companies as the key players in the Global Metal Casting Market: Alcoa Inc., Precision Castparts Corp., and ThyssenKrupp AG.
Commenting on the report, an analyst from TechNavio’s team said: “During the last four decades, a staggering percentage of foundries in developed countries have closed down because of high labor, production, and raw material costs, and recently, the low demand triggered by the global recession. The shift is also driven by rigid environmental stipulations and initiatives with regards to waste, energy, and environmental taxation by governments in Western countries. In emerging nations, raw material is abundantly available though sometimes inferior in quality, and in addition, the availability of cheap labor in these countries hints at the untapped potential of these markets.”
According to the report, one of the main drivers in this market is industrialization and development in the APAC region. Since the global economic recession many organizations have been expanding their manufacturing operations across the globe, especially in the APAC region to tap the potential of the rapidly growing market in countries such as China and India.
Further, the report states that one of the key challenges is the increase in energy requirements for the production of metal castings. The prices of metal castings are also increasing due to the increasing raw material costs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-metal-casting-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Global Metal Casting Market 2012-2016
