As per the report titled ‘Europe Iron & Steel Casting Market Size By Application, By Process, By Material, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027’, available with Market Study Report, Europe Iron & Steel Casting market is set to reach a whopping USD 47.5 billion valuation by the end of the forecast period 2021-2027.
 

According to the report findings, Europe iron & steel casting market is touted to grow tremendously in the forthcoming years owing to surging demand for automobiles in the region. Besides, flourishing construction and mining sectors along with growing requirement for high-performance materials in the marine industry are infusing growth in the market.
 

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Based on process, the market is fragmented into die casting, sand casting, and others. Of these, sand casting segment is set to record remarkable growth over the forecast duration, owing to widespread availability and cheap cost of sand. This process finds application in high temperature-intensive production of products like cast iron pans, car engine parts & components, decorative fences, and other cast iron products
 

In terms of material, Europe iron & steel casting industry is split into ductile iron, iron, white iron, steel, gray iron, and others. Expert analysts cite that steel segment is touted to grow considerably, registering a CAGR of over 6.5% through 2027. The high product demand can be accredited to its versatility in terms of application. Steel casting is utilized for a wide array of industrial machinery applications such as turbocharger turbines, pump casings, hydro-electric turbine wheels, pump casings, engine cylinder blocks, marine equipment, and mining machinery.
 

Moving to the application spectrum, the market segmentation comprises automotive, industrial machinery, pipe, fittings & valves, power & electrical, sanitary, and others. Among these, automotive segment captured 32.7% industry share in 2020 and is expected to record strong gains in the upcoming years. The demand for cast steel & cast iron is high in the automotive sector for manufacturing of important vehicle parts including braking components, suspension components, engine components, and driveline.
 

Prominent players in Europe iron & steel casting industry sphere are BVK LLC, Mechel Group, Metals Group Inc., Funor S.A., Aianox S.A., Castinox S.A., Lucchini RS S.p.A., Farinia Group, Newby Foundries Ltd., Thomas Dudley Foundry Ltd., NovaCast Ltd., BAS Castings Ltd., Rautic GmbH, ACO Eurobar GmbH, and Silbitz Group GmbH.