Forging and Casting Components Market Overview
Product Overview and Scope of Forging and Casting Components
Forging involves shaping metal by applying compressive forces, typically with the use of a hammer or press. The process typically starts with a solid piece of metal, known as a billet or ingot, which is heated to a suitable temperature and then shaped using localized compressive forces. There are several types of forging processes, including open-die forging, closed-die forging, and impression-die forging. Each method has its own characteristics and is suitable for specific applications. Forged components tend to exhibit excellent strength and durability due to the alignment of the metal's grain structure during the forging process. This makes forgings suitable for applications requiring high load-bearing capacities and resistance to fatigue. Forging can be performed on various metals, including steel, aluminum, titanium, and some alloys. The choice of material depends on the specific requirements of the component. Forging is generally better suited for simpler shapes with fewer intricate details. Complex geometries may require additional machining after the forging process.
Casting involves pouring molten metal into a mold, allowing it to solidify and take the shape of the mold. The casting process typically follows these steps: A pattern of the desired component is created using materials like wood, plastic, or metal. The pattern is used to create a mold by packing a suitable material, such as sand or ceramic, around it. The mold is then removed, leaving behind a cavity in the shape of the pattern. The molten metal is poured into the mold cavity and left to cool and solidify. During this process, the metal takes the shape of the mold. Once the metal has solidified, the casting is removed from the mold, and any excess material, such as gates and risers, is removed. Additional machining or finishing processes may be performed to achieve the desired specifications. Casting allows for a wide range of shapes and complex geometries to be produced with relative ease. Intricate details, undercuts, and internal cavities can be achieved through casting. Casting can be performed on various metals, including steel, aluminum, brass, bronze, and cast iron. The choice of material depends on factors such as strength requirements, corrosion resistance, and cost. Casting is generally a cost-effective method for producing components, especially for large quantities or complex shapes.
Both forging and casting have their own advantages and are selected based on factors such as component design, material properties, required strength, complexity, and cost considerations. Manufacturers evaluate these factors to determine the most suitable method for producing a specific component.
Forging and Casting Components Market – Global Industry Analysis
Market Drivers
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Growing industrialization and infrastructure development is a significant driver of the forging and casting component market
Industrialization involves the establishment and expansion of manufacturing facilities across various sectors. This leads to a higher demand for industrial machinery and equipment, which often require forging and casting components for their construction and operation. Components such as gears, shafts, valves, and turbine parts are essential in industrial machinery, driving the demand for forging and casting components.
As countries invest in infrastructure development, such as roads, bridges, railways, ports, and buildings, there is a significant demand for forging and casting components. These components are used in construction machinery, structural elements, and various infrastructure projects. For example, cast iron and steel components are commonly used in bridge construction, while forged components are vital in heavy construction equipment.
Industrialization and infrastructure development often require a reliable and sufficient energy supply. This leads to the expansion of the energy sector, including power plants, renewable energy installations, and oil and gas infrastructure. Forging and casting components are used in power generation equipment, pipelines, and refining machinery, supporting the growth of the energy sector.
Industrialization typically leads to increased mobility and transportation requirements. The automotive and transportation industries experience growth as a result, leading to higher demand for forging and casting components in the production of vehicles, engines, transmissions, and other transportation equipment. The construction of railways, locomotives, and ships also contributes to the demand for these components.
Industrialization and infrastructure development are particularly prominent in emerging markets where rapid urbanization is taking place. As urban areas expand, the need for new infrastructure, housing, and industrial facilities increases. This, in turn, drives the demand for forging and casting components to support construction, industrial processes, and urban development projects.
Industrialization is not solely focused on new construction projects but also involves the repair and maintenance of existing infrastructure. Aging infrastructure requires regular maintenance, repair, and replacement of components, creating a continuous demand for forging and casting components.
Governments play a vital role in driving industrialization and infrastructure development through policies, incentives, and investment. Initiatives such as economic zones, industrial parks, and public-private partnerships stimulate industrial growth and infrastructure projects, further boosting the demand for forging and casting components
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Global Construction Industry Revenue in Trillions of Dollars |
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Source: Cognitive Market Research |
Global Forging and Casting Components Revenue and Market Share (%) by regions (2018-2030)
Global Forging and Casting Components Revenue (USD Million) by regions (2018-2030)
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2018 |
2019 |
2020 |
2021 |
2022 |
2025 |
2030 |
CAGR |
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North America |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
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Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
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Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
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Total |
XX |
XX |
XX |
XX |
58,489.95 |
XX |
XX |
8.64% |
Global Forging and Casting Components Revenue Market Share (%) by regions in 2022
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Global Forging and Casting Components Revenue Market Share (%) by regions in 2022 |
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Source: Cognitive Market Research |
Based on region, Asia Pacific is dominating the forging and casting components market in terms of revenue market share throughout the forecast period. This is due to the presence of several key players and the end-use industries of the forging and casting components in this region. The Asia Pacific region, including countries such as China, India, Japan, and South Korea, has witnessed rapid industrialization in various sectors such as automotive, aerospace, construction, and manufacturing. These industries have a significant demand for forged and cast components for their production processes, leading to a robust market. In addition, manufacturing of the components in countries like India and China offers competitive labor costs compared to many other regions, making it an attractive destination for manufacturing hub. The region also has raw material source including iron ore, steel, aluminum, and other metals that are essential in forging and casting component production.
Global Forging and Casting Components Revenue by Segment
Global Forging and Casting Components Market by End-user
• Automotive
• Aerospace
• Power Generation
• General Industrial
• Others
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Global Forging and Casting Components Revenue Market Share (%) by segment in 2022 |
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Based on the end-user, the automotive segment is dominating the forging and casting components market during the forecast period. This is attributed to the increasing demand of automotive coupled with rising disposable income in emerging economies. Automotive components need to withstand high loads, stresses, and temperature variations. Forging and casting processes are capable of producing components with superior strength, toughness, and durability. Forging and casting processes allow the creation of components that can handle the demanding operating conditions of vehicles, such as engine components, chassis parts, and drivetrain components.
Global Forging and Casting Components Market by Type
• Forging
• Casting
Global Forging and Casting Components Manufacturers Profiles/Analysis
Doncasters Group
Doncasters Group Company Basic Information, and Sales Area
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Description |
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Company Name |
Doncasters Group |
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Website |
www.doncasters.com |
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Established Date |
1778 |
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Headquartered |
United Kingdom |
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Market Position/History |
Established in 1778 by Daniel Doncaster, the company began its life in Sheffield, UK. In 1898, Samuel Doncaster and Herbert Barber decide to demolish the three existing 6-hole crucible furnaces in Doncaster Street, and replace them with an efficient 24-hole furnace on a new site close by in Hoyle Street. Daniel Doncaster and Sons becomes a leading supplier of forged steel tools and valves to the automotive industry in the 1940s. In 1997, Doncaster’s plc is formed. The company built on this foundation over time to become a leader in the specialized manufacturing and casting of superalloys, evolving into the Doncasters of nowadays, a vibrant group of 15 cutting-edge production facilities, each with market-leading specialist capabilities and serving a substantial blue-chip clientele base globally. |
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Sales Area |
Worldwide |
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Manufacturing Location |
Europe, the USA, and Asia |
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No. of Employees |
~ 2,200 |
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Competitors |
Castings, Renold, Morgan Advanced Materials, KAP, Consolidated Precision Products British Steel, etc. |
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CEO |
Mike Quinn |
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Ownership Type |
Private |
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Contact Number |
Repton House, Bretby Business Park, Ashby Road, Burton-upon-Trent, DE15 0YZ, United Kingdom Tel: +44 (0) 1332 864 900 |
Business Segment/ Overview:
Doncasters is a leading international manufacturer of specialist superalloys and high-precision alloy components made for the most demanding conditions. The business serves the world’s leading OEMs in the aerospace, industrial gas turbine, and specialist automotive markets.
It operates numerous businesses such as:
UK & EUROPE
• Chard Precision Castings
• DPC Bochum
• DPC Deritend
• IVOSTUD
• Polycast
• Ross & Catherall
• Trucast UK
USA
• Castings, Oxford, AL
• Castings, Groton, CT
• Forgings, Springfield, MA
• Superalloys, Long Beach, CA
• Trucast USA
• Uni-Pol
ASIA
• Uni-Pol
Forging and Casting Components Product Types Specification
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Product |
Product Description |
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CHARD PRECISION CASTINGS |
Chard Precision Castings specialises in customer-led design cooperation to create high-precision investment castings that are equal in size and accuracy, using both conventional materials and unusual nickel and cobalt alloys. It produces cast components made of superalloys based on nickel and cobalt, such as blade and vane airfoils up to 11.81" (300mm) in diameter and structural castings up to 19.68" (500mm) in diameter.
These products features:
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Forgings of Springfield |
Doncasters Forgings of Springfield (Storms Forge) produces closed die forgings for critical performance applications in the aerospace, power generation, oil and gas, and industrial markets. It produces products for aerospace such as
For industrial gas turbines, the company manufactures:
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Recent Developments:
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Year |
Latest News |
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Doncasters invests further in aviation future Doncasters Precision Castings of Groton and Doncasters Precision Castings - Deritend has received $12.9 million in investment as the commercial aviation industry recovers. In addition to their present manufacturing facility will be built to contain three robot shell coating cells and two final drying systems as part of Doncasters Precision Castings of Groton's considerable investment. The line will start producing in 2023 and ramp up to its maximum operating capacity in 2025. |
Business Strategy
Doncasters Group developed a reputation for quality craftsmanship, reliability, and metallurgical products. Doncasters has centered around defining what their customers’ value expectations are in order to become customers’ partners of choice. Similarly, its strategic priority is focused on upgrading Doncasters’ operating equipment, technology platforms, and capabilities across our operating sites, starting on the shop floor, as well as upgrading IT infrastructure so that the business can operate in a more efficient, accurate, and real-time manner and compete on a wider scale.
