Steel Casting Market

Steel Casting Companies - ArcelorMittal (Luxembourg), Doosan Corporation (South Korea) are Leading Players in the Steel Casting Market

The market for steel casting is approximated to be USD 33.90 billion in 2025, and it is projected to reach USD 42.18 billion by 2029, at a CAGR of 5.6%.

Steel Casting Companies

Metal casting consists of pouring molten metal into molds to create complex shapes. This process involves melting metals at elevated temperatures before being poured into molds made from sand, metal, or ceramic.  The majorly cast metals are iron, aluminum, magnesium, zinc, steel, and copper alloys. Steel casting is essentially the molding of molten steel into parts which shall be required to be hard-wearing and temperature and wear resistant. This method plays an important part in manufacture of vital parts of cars, buildings, power plants, and even aircraft. In these industries, mechanical characteristics of steel are great concerning performance and safety.

To know about the assumptions considered for the study download the pdf brochure

Power generation, rail and transit, mining, construction machinery, oil & gas, aerospace and defense, shipbuilding and others are the main market sectors for steel casting.

The demand for steel casting is mainly furnished by global players manufacturing for various end-use applications. Some of the leading companies involved in the steel casting are ArcelorMittal (Luxembourg), Doosan Corporation (South Korea), Kobe Steel, Ltd., (Japan), Nucor Corporation (US), Isgec Heavy Engineering Ltd. (India), and Georg Fischer Ltd. (Switzerland). These companies, amongst many other regional players, fulfill the requirements globally for steel casting services.

ArcelorMittal (Luxembourg) was formed in 2006 with the merger of Arcelor and Mittal Steel. With the help of a broad range of employees, the company manufactured a wide range of high-quality finished and semi-finished steel products. The company has steel manufacturing plants in 16 countries and serves its customers in 155 countries across the globe in different end-use industries such as automotive, construction, appliances, energy, transport, and machinery. ArcelorMittal produces blooms, rebar, billets, wire rods, sections, castings, sheet piles, rails, and drawn wires, along with seamless and welded tubular products. ArcelorMittal offers a wide range of standard and special rebar for use in reinforced concrete structures in all possible fields of application. The company is one of the largest steel manufacturers in North America, South America, and Europe.

Doosan Corporation (South Korea) is a multinational conglomerate primarily engaged in various sectors, including power generation facilities, industrial equipment, construction machinery, engines, and the manufacture of castings and forgings. The company is a global leader in the design and production of major nuclear equipment, contributing significantly to energy infrastructure worldwide. In addition to manufacturing, Doosan Corporation has extended its reach into key sectors, such as engineering, construction, and environmental solutions, further enhancing its global competitiveness. Doosan Heavy Industries & Construction Co., Ltd. specializes in manufacturing of products like power plant equipment, chemical and petrochemical plant equipment, iron and steel making machinery, marine diesel engines, and heavy castings and forgings.

Kobe Steel, Ltd., (Japan) also known by its unified brand name KOBELCO, is a prominent Japanese steel manufacturer headquartered in Chuo-ku, Kobe. With a diverse portfolio, the company offers a range of innovative and reliable products and technologies across several industries, including iron and steel, welding, aluminum and copper, machinery, engineering, construction machinery, and electric power. As of March 2024, the Kobe Steel Group operates with 202 subsidiaries and 45 affiliated companies, cementing its strong presence in the global industrial sector.

Other companies have initiated the following developments:

  • In January 2025, GF Casting Solutions is establishing a global network of mega-casting machines across China, Europe, and the US by 2026 to meet the rising demand for large structural components. This network is aimed at providing customized, state-of-the-art solutions to customers worldwide, supported by the company’s expertise in product and process development, as well as testing and validation.
  • In November 2024, GF Casting Solutions launched its innovative products at an event hosted by SERES, the maker of AITO, a notable new player in the Chinese automotive market. GF presented cutting-edge lightweighting solutions designed to reduce weight and improve the range and performance of new energy vehicles.
  • In March 2024, Nucor Corporation announced an agreement with Mercedes-Benz to supply Econiq™-RE steel for models produced at their Tuscaloosa, AL manufacturing plant. Econiq™ has been a leader in certifying low-embodied carbon materials within the global steel industry.
  • In October 2023, Nucor Corporation announced that its recycling subsidiary, River Metals Recycling (RMR) acquired all assets of Garden Street Iron & Metal based in Cincinnati, including one feeder and one shredder yard. This acquisition increased RMR’s total number of recycling facilities to 19.
  • In July 2022, ArcelorMittal launched R340 crane rail grade steel, which is manufactured with the help of combination of a customized microalloying in the chemical composition, along with A specific rolling process and subsequent air cooling. R 340 new steel grade comes with improved hardness and mechanical properties.
  • In December 2022, ArcelorMittal announced the acquisition of Riwald Recycling (‘Riwald’), a state-of-the-art ferrous scrap metal recycling business based in the Netherlands.

Related Reports:

Steel Casting Market by Type (Carbon Steel, Low-Alloy Steel, High-Alloy Steel), Process (Sand Casting, Investment Casting, Die Casting), Formulation (Solvent Based, Solventless, Emulsion), Application, & Region - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
[email protected]

Steel Casting Market Size,  Share & Growth Report
Report Code
MM 9279
RI Published ON
1/29/2025
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2025 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status