Foundries are workshops where metal castings are produced. Metal casting is a manufacturing process in which molten or liquid metal is poured into a mold made of sand, metal, or ceramic, which contains a hollow cavity of the desired shape, to form geometrically complex parts. All major metals can be made into castings, and the most common ones are iron, aluminum, magnesium, zinc, steel, and copper-based alloys. Metal castings find application in cars, trucks, planes, trains, mining and construction equipment, oil wells, pipes, toys, space shuttles, wind turbines, nuclear plants, and many more.
Analysts forecast the Foundry market in India to grow at a CAGR of 19.67 percent over the period 2014-2018.
The Report recognizes the following companies as the key players in the Foundry Market in India: Electrosteel Castings Ltd., Hinduja Foundries Ltd., Nelcast Ltd. and Rail Wheel Factory.
Other Prominent Vendors in the market are: Ashok Iron Works, Brakes India, DCM Engineering, Indo Shell Mould, Jayaswal Neco Industries and Tata Motors.
One of the emerging trends in this market is the increased need for technological improvements. Market vendors are investing significant amounts to improve the quality of raw materials procured within India and increase their efficiency.
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Covered in this Report
The Foundry market in India can be segmented into five product segments: Grey Cast Iron, Steel, Spheroidal Graphite Iron, Non-ferrous Metals, and Malleable Iron.
Foundry Market in India 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers India extensively; it also covers the landscape of the Foundry market in India and growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the main drivers in the market is the increased need for infrastructure and power generation. India's rapid industrialization and urbanization requires a lot of infrastructural investments and power generation installations, which will in turn create additional demand for castings, used as a raw material in the construction and automotive industries.
Further, the report states that one of the key challenges in the market is the high duties imposed for the import of raw materials by foundries in India. Government regulations for the import of metal scrap are affecting metal casting manufacturers as a whole.
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