Foundry Tools market report enlists several important factors, starting from the basics to advanced market intelligence which play a crucial part in strategizing. A thorough analysis is provided for each region namely sdfd, based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Foundry Tools industry. Industry experts project Foundry Tools market to grow at a CAGR of 0.68% during the period 2017-2021.
Foundry tools are a set of equipment, such as shovels, trowels, rammers, riddles, and others. Foundry tools are used in foundries for basic operations, such as mixing and molding sand, smoothening surfaces, and others. The global casting production surged in 2015 when compared with the figures in 2014. However, a decline in the number of foundries was observed, indicating the consolidation of foundry businesses across the world.
Foundry Tools Market Trend, Challenge and Driver: –
Foundry Tools Market trend: – One trend in the market is 3D printing in sand casting. With the advent of 3D printing and additive manufacturing techniques, the face of the global manufacturing industry has changed. Off late, prototypes are being prepared through the 3D printing process, which replaces the conventional CNC machining of aluminum patterns
Foundry Tools Market Challenge: – one challenge in the market is benefits of forging over casting. Casting and forging are two very different manufacturing processes. In casting, the molten metal is poured into a mold and is allowed to solidify. However, in forging, the material is physically forced into a shape without changing the state of the metal, although it is heated frequently. Forged parts usually have less surface porosity, higher tensile strength, and better fatigue life. On the other hand, in casting, when the metal is heated to a temperature above its melting point, the grain size becomes free to expand.
Foundry Tools Market Driver: – One driver in the market is industrialization and development in APAC. APAC is the largest and strongest growing market for steel castings worldwide. The demand of industrial castings will primarily be driven by the rapid rate of industrialization in countries, such as China, South Korea, and India. Steel castings provide flexibility and improve the safety and reliability of construction. Owing to these characteristics, steel castings are used in wide range of applications in the construction industry.
Foundry Tools market potential is analysed for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Foundry Tools industry. Further the Foundry Tools market report focuses on global major leading industry players with information. Key vendors operating in Foundry Tools market space are Artisan Foundry Shop, Freeman Manufacturing & Supply, MIFCO – McEnglevan Industrial Furnace Company, Morgan Advanced Materials, Crowder Supply and many more.
Read more: Foundry Tools Market Size, Sales, Share, Growth Analysis, Trends and Forecast