PUBLISHER: The Business Research Company | PRODUCT CODE: 1675490
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675490
Foundries are specialized plants where machine parts are created by melting metal and pouring it into molds of specific shapes, producing castings essential for various metallic products. This process aids in metal manufacturing, cost reduction, and the production of durable goods.
Primary types of foundries include ferrous metal foundries and nonferrous metal foundries. Ferrous metal foundries work with different alloy varieties for diverse applications. Foundry types consist of pure-play foundries and integrated device manufacturers, catering to industries such as automobiles, pipes & fittings, agricultural machinery, electrical equipment, machine tools, and various other applications.
The foundries market research report is one of a series of new reports from The Business Research Company that provides foundries market statistics, including foundries industry global market size, regional shares, competitors with a foundries market share, detailed foundries market segments, market trends, and opportunities, and any further data you may need to thrive in the foundries industry. This foundries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The foundries market size has grown strongly in recent years. It will grow from $190.81 billion in 2024 to $201.64 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to automotive and aerospace industry demand, construction and infrastructure development, consumer goods manufacturing, energy sector requirements, globalization of supply chains.
The foundries market size is expected to see steady growth in the next few years. It will grow to $238.17 billion in 2029 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to transition to electric vehicles (evs), renewable energy infrastructure projects, advancements in material science, stricter environmental regulations, customization and prototyping services. Major trends in the forecast period include digital twin technology implementation, technological advances in casting processes, advanced casting technologies, digitalization and smart foundries, demand for lightweight materials.
The growth of the foundries market is supported by stable economic growth forecasts in various developed and developing countries. For example, the World Bank reported that China's gross domestic product (GDP) increased to $17.94 trillion in 2022, up from $17.82 trillion in 2021. Furthermore, India's GDP experienced growth between 8% and 8.5% in 2022-2023, following a 9.2% increase in 2021-2022. Developed economies are also anticipated to show stable growth throughout the forecast period. Additionally, emerging markets are projected to continue growing slightly faster than developed markets during this time. This stable economic growth is expected to boost investments in end-user markets, consequently driving the foundries market during the forecast period.
The expanding construction industry is expected to enhance the growth of the foundries market in the future. The construction industry encompasses a wide range of economic activities, including planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure. This industry requires various metal components for buildings, bridges, and infrastructure projects, which typically include structural steel beams, columns, brackets, and connectors produced by foundries. For instance, in November 2023, a report from The Office for National Statistics, a UK-based statistics authority, indicated that total new construction work output rose by 15.8% in 2022, reaching a record value of £132,989 million. Thus, the growing construction industry is driving the growth of the foundries market.
Leading companies in the foundries market are developing systems foundries specifically tailored for the AI era. A systems foundry is a specialized manufacturing facility dedicated to designing and producing complex electronic systems and components. This initiative aims to meet the increasing demand for advanced semiconductor solutions customized for artificial intelligence applications. For instance, in February 2024, Intel, a US-based technology firm, unveiled the world's first systems foundry designed for the AI era. This facility focuses on providing advanced semiconductor solutions specifically engineered to meet the needs of AI applications. The systems foundry emphasizes high-performance chip production, utilizing state-of-the-art manufacturing processes optimized for AI workloads.
Major companies within the foundries market are progressively adopting automation technologies to boost efficiency, cut labor costs, and enhance product quality. By integrating robotic systems and automated machinery, these organizations streamline processes such as mold making, pouring, and finishing, resulting in improved precision and consistency in casting production. For example, in 2023, Atlantis Foundries, a South Africa-based manufacturer of automotive castings, successfully implemented a fully automated core assembly process utilizing Fanuc robots. This system automates the handling and assembly of individual cores directly from the core-making machines, significantly increasing production efficiency. The automated system is capable of processing over 700 assemblies daily and is fully commissioned, operating at the targeted production levels.
Major companies operating in the foundries market include General Foundries Inc., Waupaca Foundry Inc., Neenah Foundry Company, Gibbs Die Casting Corporation, Precision Castparts Corp., Hitachi Metals Ltd., DONGGUAN ALFA METAL WORKSHOP CO. LTD, Ryobi Limited, Grede Foundries Inc., Georg Fischer Ltd., Alcoa Corporation, Reliance Foundry Co. Ltd., Brukar Inc., John Winter & Co Ltd, Cifunsa Foundry, MetalTek International, Bharat Forge Ltd., Walbro LLC, Wescast Industries Inc., Nemak S.A.B. de C.V., Consolidated Metco Inc., Howmet Aerospace Inc., Cadillac Casting Inc., Harrison Steel Castings Company, Zollern GmbH & Co. KG, Brembo S.p.A., Eck Industries Inc., Hubbardton Forge
The Asia-Pacific was the largest region in the foundries market in 2024. Western Europe was the second-largest region in the foundries market. The regions covered in the foundries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the foundries market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The foundries market consists of sales of iron foundries, brass foundries, and bronze foundries. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Foundries Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on foundries market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for foundries ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The foundries market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.