Increasing demand for high-quality castings drives growth in the foundry additives market
Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-9858 Format: PDF Pages: 300
Report Highlights
According to a research survey conducted by ChemView Consulting, in Foundry Additives Market was worth US $ 2.63 Bn. The market is expected to grow at a CAGR of 2.60% between 2023 and 2033 to hit US $ 3.40 Bn by 2033 end.
Key Market Trends
Growing Demand for Foundry Additives in Automotive Industry
The automotive industry is increasingly relying on foundry additives to improve the performance of their products. Foundry additives are used to improve the strength, durability, and corrosion resistance of automotive components, making them more reliable and cost-effective. As the automotive industry continues to grow, the demand for foundry additives is expected to increase, driving the growth of the foundry additives market.
Increasing Adoption of Foundry Additives in Aerospace Industry
The aerospace industry is increasingly turning to foundry additives to improve the performance of their components. Foundry additives are used to improve the strength, durability, and corrosion resistance of aerospace components, making them more reliable and cost-effective. As the aerospace industry continues to grow, the demand for foundry additives is expected to increase, driving the growth of the foundry additives market.
Market Drivers
Increasing Demand for Foundry Additives
Foundry additives are used to improve the properties of molten metal, such as strength, ductility, and corrosion resistance. The increasing demand for foundry additives from the automotive, aerospace, and construction industries is driving the growth of the foundry additives market. The growing demand for lightweight and fuel-efficient vehicles is driving the demand for foundry additives, as they are used to improve the properties of the metal used in the production of these vehicles.
Growing Automotive Industry
The automotive industry is one of the major drivers of the foundry additives market. The increasing demand for lightweight and fuel-efficient vehicles is driving the demand for foundry additives, as they are used to improve the properties of the metal used in the production of these vehicles. The growing demand for electric vehicles is also driving the demand for foundry additives, as they are used to improve the properties of the metal used in the production of these vehicles.
Segmentation Insights
After conducting a thorough analysis of the Foundry Additives Market, we have identified the top three trending segments in the industry. These segments are experiencing significant growth, high demand, and widespread adoption. Here are the top three segments, presented in a professional and attractive manner:
Most Popular (Fastest Growth Rate)
Engineered Additives (End Use)
Steel Industry Engineered Additives are the most popular type of foundry additives in the market due to their extensive usage in the steel industry. Engineered additives are specialty chemicals that are used in the foundry process to improve the quality and properties of steel. The demand for engineered additives is primarily driven by the steel industry, which accounts for the largest share of the foundry additives market. Engineered additives are used to improve the casting quality, increase productivity, and reduce casting defects, making them a crucial component in the steel production process.
Most Selling (Largest Market Share)
Inorganic Additives (End Use)
Heavy Machinery Inorganic additives are the most selling type of foundry additives in the market due to their extensive usage in heavy machinery. Inorganic additives are specialty chemicals that are used in the foundry process to improve the quality and properties of metal castings. The demand for inorganic additives is primarily driven by the heavy machinery industry, which includes products such as construction equipment, mining machinery, and agricultural machinery. Inorganic additives are used to improve the casting quality, reduce defects, and increase productivity, making them a crucial component in the heavy machinery production process.
Trending (Gaining Traction)
Organic Additives (End Use)
Construction Industry Organic additives are gaining significant traction in the Foundry Additives Market due to their usage in the construction industry. Organic additives are specialty chemicals that are used in the foundry process to improve the quality and properties of metal castings. The demand for organic additives is increasing in the construction industry, which includes products such as building materials, infrastructure, and pipelines. Organic additives are used to improve the casting quality, reduce defects, and increase productivity, making them a crucial component in the construction industry.
Regional Insights
Unlocking the Potential of Foundry Additives in North America
North America is a major market for foundry additives, with the United States and Canada being the two largest countries in the region. The US is the largest producer of foundry additives, accounting for more than half of the global production. The country is home to some of the world’s leading foundry additive manufacturers, such as BASF, Dow Chemical, and Ferro Corporation. The US foundry additives market is driven by the increasing demand for automotive components, as well as the growing demand for industrial machinery and equipment.
Canada is the second-largest producer of foundry additives in North America. The country is home to some of the world’s leading foundry additive manufacturers, such as BASF, Dow Chemical, and Ferro Corporation. The Canadian foundry additives market is driven by the increasing demand for automotive components, as well as the growing demand for industrial machinery and equipment.
Exploring the Benefits of Foundry Additives in Europe
Europe is a major market for foundry additives, with Germany, France, and the UK being the three largest countries in the region. Germany is the largest producer of foundry additives in Europe, accounting for more than one-third of the global production. The country is home to some of the world’s leading foundry additive manufacturers, such as BASF, Dow Chemical, and Ferro Corporation. The German foundry additives market is driven by the increasing demand for automotive components, as well as the growing demand for industrial machinery and equipment.
France is the second-largest producer of foundry additives in Europe. The country is home to some of the world’s leading foundry additive manufacturers, such as BASF, Dow Chemical, and Ferro Corporation. The French foundry additives market is driven by the increasing demand for automotive components, as well as the growing demand for industrial machinery and equipment.
Research Scope/Taxonomy
Market Analysis by Type:
Market Analysis by Composition:
Market Analysis by End Use:
Market analysis by region:
Key Companies Profiled
1.1. Global Market Snapshot
1.2. Key Success Factors
1.3. Strategic Analysis and Recommendations
2.1. Market Taxonomy
2.2. Market Definitions
3.1. Preliminary Investigation & Research Form
3.2. Secondary Research & Primary Research
3.3. Data Analysis & Econometric Modelling
3.4. Expert Data Validation
4.1. Supply-Side Trends
4.2. Demand-Side Trends
5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032
5.2. Incremental $ Opportunity Index, 2022-2032
5.3. Global Market Volume (Tons) Analysis, 2017 – 2032
6.1. Regional Level Pricing Analysis and Forecast
6.1.1. Manufacturers Level Pricing
6.1.2. Distributor Level Pricing
6.2. Global Pricing Analysis Benchmark
6.3. Cost Breakdown Analysis
7.1. Cross Analysis of Type W.R.T. Composition
8.1. Regional Supply Vs. Demand Gap Assessment
8.2. Top Producing Countries Analysis
9.1. Macroeconomic Factors
9.2. Forecast Factors
9.3. Market Dynamics
9.3.1. Driver
9.3.2. Restraint
9.3.3. Opportunity
9.4. Supply Chain Analysis
9.4.1. List Raw Composition r Suppliers
9.4.2. List of Manufacturers
9.4.3. List of Distributors
9.4.4. List of End-Users
9.4.5. End-Users Consumption Analysis
9.4.6. Average Profitability Margin Analysis
9.5. Covid-19 Impact Assessment
9.5.1. Economy/Cluster Projections
9.5.2. Covid-19 Economic Assessment
9.5.3. Impact on Target Market
9.5.4. Recovery Scenario
9.6. Regulatory Framework
9.6.1. Regulations of Key Countries
9.6.2. Potential Impact of Regulations
9.7. Porter’s Five Forces Analysis
9.8. Type Landscape
10.1. Introduction
10.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Type [Value (US$ Mn) and Volume (Tons) Analysis]
10.2.1. Iron Oxides
10.2.2. Engineered Additives
10.2.3. Burn-out Additives
10.2.4. Market Attractiveness Analysis by Type
11.1. Introduction
11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Composition [Value (US$ Mn) and Volume (Tons) Analysis]
11.2.1. Organic Additives
11.2.2. Inorganic Additives
11.2.3. Hybrid Additives
11.2.4. Market Attractiveness Analysis by Composition
12.1. Introduction
12.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End Use [Value (US$ Mn) and Volume (Tons) Analysis]
12.2.1. Steel Industry
12.2.2. Heavy Machinery
12.2.3. Construction Industry
12.2.4. Automotive Industry
12.2.5. Railways
12.2.6. Electrical Industry
12.2.7. Mining
12.2.8. Market Attractiveness Analysis by End Use
13.1. Introduction
13.2. Key Market Trends
13.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
13.3.1. North America
13.3.2. Latin America
13.3.3. Europe
13.3.4. Asia-Pacific
13.3.5. Middle East
13.3.6. Africa
13.4. Market Attractiveness Analysis by Region
14.1. Introduction
14.2. Key Market Trends
14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
14.3.1. By Country
14.3.1.1. U.S.
14.3.1.2. Canada
14.3.2. By Type
14.3.3. By Composition
14.3.4. By End Use
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Type
14.4.3. By Composition
14.4.4. By End Use
15.1. Introduction
15.2. Key Market Trends
15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
15.3.1. By Country
15.3.1.1. Brazil
15.3.1.2. Mexico
15.3.1.3. Rest of Latin America
15.3.2. By Type
15.3.3. By Composition
15.3.4. By End Use
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Type
15.4.3. By Composition
15.4.4. By End Use
16.1. Introduction
16.2. Key Market Trends
16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
16.3.1. By Country
16.3.1.1. Germany
16.3.1.2. Italy
16.3.1.3. France
16.3.1.4. UK
16.3.1.5. Spain
16.3.1.6. Netherlands
16.3.1.7. Norway
16.3.1.8. Russia
16.3.1.9. Rest of Europe
16.3.2. By Type
16.3.3. By Composition
16.3.4. By End Use
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Form
16.4.3. By Composition
16.4.4. By End Use
17.1. Introduction
17.2. Key Market Trends
17.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
17.3.1. By Country
17.3.1.1. China
17.3.1.2. Japan
17.3.1.3. South Korea
17.3.1.4. India
17.3.1.5. Indonesia
17.3.1.6. Thailand
17.3.1.7. Vietnam
17.3.1.8. Australia & New Zealand
17.3.1.9. Rest of Asia-Pacific
17.3.2. By Type
17.3.3. By Composition
17.3.4. By End Use
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Type
17.4.3. By Form
17.4.4. By Composition
17.4.5. By End Use
18.1. Introduction
18.2. Key Market Trends
18.3. Pricing Analysis
18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
18.4.1. By Country
18.4.1.1. Saudi Arabia
18.4.1.2. Turkey
18.4.1.3. U.A.E.
18.4.1.4. Rest of the Middle East
18.4.2. By Type
18.4.3. By Form
18.4.4. By Composition
18.4.5. By End Use
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Type
18.5.3. By Composition
18.5.4. By End Use
19.1. Introduction
19.2. Key Market Trends
19.3. Pricing Analysis
19.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
19.4.1. By Country
19.4.1.1. South Africa
19.4.1.2. Nigeria
19.4.1.3. Egypt
19.4.1.4. Rest of Africa
19.4.2. By Type
19.4.3. By Form
19.4.4. By Composition
19.4.5. By End Use
19.5. Market Attractiveness Analysis
19.5.1. By Country
19.5.2. By Type
19.5.3. By Composition
19.5.4. By End Use
20.1. Tier Structure Breakdown
20.2. Market Share Analysis
20.3. Production Capacity Analysis
20.4. Company Footprint Analysis
20.4.1. Product Footprint of Players
20.4.2. Regional Footprint of Players
20.4.3. Channel Footprint of Players
20.5. Brand Preference Analysis
20.6. Competition Dashboard
21.1. Clariant.
21.1.1. Company Overview
21.1.2. Product & Financial Portfolio
21.1.3. Manufacturing Facilities
21.1.4. Recent Developments
21.1.5. SWOT Analysis
21.1.6. Strategy Overview
21.2. The HILL and GRIFFITH Company
21.3. Imerys Group
21.4. ASK Chemicals
21.5. Chesapeake Specialty Products Inc.
21.6. REFCOTEC
21.7. Laviosa Chimica Mineraria SpA
21.8. Others