The global steel casting market is forecast to grow at a CAGR of 3.82% during the period 2016-2020.
Commenting on the report, an analyst from the research team said that steel as sustainable material is one of the trends spurring growth for the market. The production of steel is extremely energy-intensive, and it is the world's most important engineering material. Technological advances and extensive R&D will help in reducing the high consumption of energy during the production process, thereby leading to a decrease in greenhouse gas emissions.
This will also help combat climate change, which has become a serious environmental issue in recent years. Thus, the use of steel as a sustainable material for casting is a new trend that is expected to auger well for the growth of the market during the forecast period.
According to the report, increased simulation-based castings is a key driver aiding to the growth of this market. Financial services are one of the most data-intensive industries. Simulation allows visualization of the virtual casting processes such as mold filling, cooling, and solidification with respect to direction and time for the manufacturers.
It also helps in predicting the location of internal defects and optimizing the method and design of the casting process. Simulation-based casting technique is highly suitable for the production of reliable, economical, and high accuracy cast components.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Anhui Yingliu
- Kobe Steel
- Precision Castparts
- Amsteel Castings
- Hyundai Steel
- Pacific Steel Casting
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Key leading countries
PART 14: Vendor landscape
PART 15: Appendix
PART 16: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/zlmzbv/global_steel
Related Topics: Iron and Steel
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SOURCE Research and Markets