Casting Industry Report 2024: Market Data & Insights

The casting industry is leveraging rapid prototyping, precision machining, and new materials to tackle challenges like defect and quality control and high energy consumption. This report explores key market data, areas of innovation, and implications for industrial companies worldwide.

The 2024 Casting Report discusses the landscape of metal or die casting technologies shaping the sector. This report covers areas such as rapid prototyping, plastic injection molding, and the development of advanced materials like aluminum matrix composites and magnesium alloys. It explores the innovations in production processes, including eco-friendly methods and efficient repair techniques. The report provides insights into the financial landscape, investment patterns, and the role of top investors in the industry’s growth.

This casting industry report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Casting Report 2024

Casting Industry Report 2024-StartUs Insights

Executive Summary: Metal Casting Industry Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 886 casting startups developing innovative solutions to present five examples from emerging casting industry trends.

  • Industry Growth Overview: The industry includes over 19050 companies and 886 startups and reflects the expansive market. The industry experienced a decline of 1.89% last year. 
  • Manpower & Employment Growth: The industry employs 1.8 million workers globally. In addition to this, there was an employment growth of 70 thousand new employees in the last year.
  • Patents & Grants: The industry secured over 20110 patents for its innovation. Moreover, more than 440 grants were granted to support research and development initiatives within the sector.
  • Global Footprint: The top country hubs include the USA, India, China, Germany, and the UK. Leading city hubs are New York City, Shenzhen, London, Mumbai, and Los Angeles, demonstrating a strong global presence.
  • Investment Landscape: The average investment value per round stands at USD 29 million. Over 830 investors participated in more than 1170 funding rounds. Further, more than 670 companies received investments.
  • Top Investors: Top investors include Keywords Studios, Techstars, and Hornby. The combined investment amount of these investors reach USD 283 million.
  • Startup Ecosystem: Five leading startups include CMMC (aluminum metal matrix composites), Qmex Technology (green casting), VinTech Nano Materials (nGlide additive technology), ThreeRe (cold spray technology), and FastCast Ceramics (investment casting ceramic slurry).
  • Recommendations for Stakeholders: Investors should prioritize funding startups working on rapid prototyping and advanced materials to capitalize on emerging market trends. Government support for research and development through grants and incentives will drive innovation in industrial casting. Companies should be open to testing emerging solutions to maintain a competitive edge.

Explore the Data-driven Metal Casting Industry Outlook for 2024

The Die Casting Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. Despite a negative growth rate of 1.89% last year, more than 20110 technologies received patents and over 440 companies were awarded grants. The global manpower stands at 1.8 million, with an employee growth of 70K last year.

The USA, India, China, Germany, and the UK emerge as the top five country hubs. New York City, Shenzhen, London, Mumbai, and Los Angeles lead as the top five city hubs. The heat map above highlights the industry’s geographical diversity and innovation potential in all regions of the world.

What data is used to create this casting industry report?

Based on the data provided by our Discovery Platform, we observe that the casting industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: More than 13100 news articles were published on casting last year.
  • Funding Rounds: Our database includes data on more than 1170 funding rounds that highlight the industry’s financial backing.
  • Manpower: With over 1.8 million workers, the casting industry demonstrates decent manpower, adding more than 70.8 thousand new employees in the last year alone.
  • Patents: The industry holds over 20110 patents and showcases its innovative capabilities.
  • Grants: There are over 440 grants associated with the casting industry that reflect research and development support.
  • Yearly Global Search Growth: The yearly global search growth for the casting industry stands at 8.58%.
  • and more. Get in touch to explore all data points used to create this die-casting report.

A Snapshot of the Global Casting Industry

The industry currently employs 1.8 million workers and showcases its manpower. Over the past year, the industry experienced an employee growth of 70 thousand. Over 19050 companies operate within the industry reflecting its diverse landscape.

Explore the Funding Landscape of the Casting Industry

Investment activity within the industry stands with an average investment value of USD 29 million per round. More than 830 investors participated in funding rounds and highlighted the financial interest. The closure of over 1170 funding rounds demonstrates the investment activity within the sector. These funding rounds and investments benefited more than 670 companies to indicate support and growth opportunities.

Who is Investing in Metal Casting?

The combined investment value of the top investors in the industry exceeds USD 283 million. This figure highlights the financial commitment and interest in the sector. Here are the top investors and their contributions:

  • Keywords Studios supported 6 companies with a total of USD 14 million.
  • Techstars funded 3 companies with USD 3.7 million.
  • Hornby backed 2 companies with a total of USD 10 million.
  • Blackbird Ventures sponsored 2 companies, investing USD 13 million.
  • Walsin Lihwa invested USD 241 million in at least 1 company.
  • and more. Connect with us to explore all investment data in the casting industry.

Rapid Prototyping includes about 5947 companies actively engaged in this sector. The industry employs 275000 individuals, with 18000 new employees added in the last year. In addition, the annual trend growth rate shows an increase of 9.37%. Rapid prototyping remains essential for accelerating design processes and enabling quick iterations in various manufacturing and engineering industries.

Plastic Injection Molding encompasses 9459 companies. This sector employs a workforce of 786400, with an addition of 31300 new employees in the past year. Moreover, the industry experiences an increase in its annual growth rate by 0.62%. This trend assists in producing complex plastic components efficiently and at scale, widely used in various industries, from automotive to consumer goods.

Precision Machining is a key trend in the casting industry, with 7423 companies identified as active players. This sector employs a substantial workforce of 344900 individuals, indicating its impact on the job market. In the past year alone, precision machining saw an influx of 17800 new employees, reflecting its dynamic growth. The annual trend growth rate stands at 1.39%, showcasing steady progress and resilience as it produces high-accuracy components essential for various industries, including aerospace, automotive, and medical devices.

5 Top Examples from 886 Innovative Metal Casting Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

CMMC produces Aluminum Metal Matrix Composites

German startup CMMC produces high-strength aluminum matrix composites (AMCs) for industrial applications. The startup’s inline stirring process allows for efficient, continuous production without break times. This method ensures a homogeneous mixture of aluminum and reinforcing particles, primarily silicon carbide. The resulting composites feature adjustable thermal conductivity and low thermal expansion and offer properties with single-component aluminum alloys. The lightweight composites provide high weight reduction with minimum wear. CMMC’s composites address inefficiencies in metal matrix composite (MMC) production. 

Qmex Technology offers Green Casting

Netherlands-based startup Qmex Technology produces durable and green castings for prolonged lifetimes. The startup’s method ensures all materials undergo constant recycling to minimize CO2 emissions and energy usage. Its casting process enhances material properties to offer lightweight and high-strength alloys. While minimizing waste, it achieves accuracy in cast part designs. Moreover, it provides energy efficiency and saves cost and time.

VinTech Nano Materials develops nGlide Additive Technology

US-based startup VinTech Nano Materials produces nGlide additive lubricants for die casting applications. Its AtomOil Plunger Lubricant minimizes friction and wear on plunger tips and shot sleeves. Enhanced with nano-engineered additives, it creates a non-staining film on sliding surfaces. This film resists wear, welding, and scoring, extending part life and reducing replacement costs. The lubricant also offers lubricity at lower application rates to prevent excessive buildup in shot sleeves. It ensures oxidation, corrosion resistance, and extreme temperature performance with enhanced anti-wear and extreme pressure capabilities.

ThreeRe builds Cold Spray Technology

UK-based startup ThreeRe repairs damaged large-size magnesium alloy castings using cold spray technology. This technology addresses damages caused by environmental impacts like corrosion, erosion, and cracking. It avoids the high temperatures of traditional tungsten inert gas (TIG) welding and prevents degradation of the microstructure and thermal stresses. The low-temperature repair process maintains the geometry and dimensions of the castings without causing unfavorable physical phenomena. This results in an effective repair process that reduces waste and eliminates the need for additional heat treatment. 

FastCast Ceramics provides Investment Casting Ceramic Slurry

German startup FastCast Ceramics develops open-pore and slip agent ceramics with reduced CO2 emissions and energy use. The startup’s ceramic slurry technology reduces shell production time and eliminates the sanding step in investment casting. Its use for shell repair minimizes waste and allows for flexible use with different materials. Moreover, its fast, crack-free drying feature enables a thicker layer per dipping process. This high-strength ceramic facilitates low-defect dewaxing and easy separation from the casting to reduce mold production time. Provided as a ready-mixed, drop-in technology, it integrates into existing production lines without retooling.

Looking for Comprehensive Insights into Metal Casting Trends, Startups, or Technologies?

The 2024 Casting Industry Report underscores the sector’s adaptability amid evolving technological and environmental challenges. The integration of advanced materials, production techniques, and sustainable practices signifies a definitive phase in the industry. As the industry progresses, ongoing innovation and commitment to sustainability will be crucial in maintaining its growth and competitiveness in the global market. Get in touch to explore all 886 startups and scaleups, as well as all industry trends impacting metal casting companies.

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