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Globe and Mail
5 days ago
- Business
- Globe and Mail
Steel Casting Market Report on the Untapped Growth Opportunities in the Industry
The Steel Casting Market is witnessing steady growth driven by demand across automotive, construction, and industrial sectors. Technological advancements in casting processes further support market expansion. Key players such as Precision Castparts Corp., Hitachi Metals, and Kobe Steel continue to lead through innovation and global reach, shaping the competitive landscape. 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%. The Research report presents a complete judgment of the market which consists of future trends, steel casting market growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. during the forecast period. Steel casting refers to the pouring of molten steel into molds to produce specified shapes and parts with high strength, toughness, and wear resistance. These castings are used widely in automotive, construction, aerospace, energy, and machinery due to their toughness and resistance to extreme conditions. The steel casting market is being driven by factors such as rapid industrialization, increased demand from automotive and renewable energy sectors, and technological advancements in casting technologies. Still, high production costs, supply chain disruptions, and competition from lightweight materials restrain growth in the market. Emerging markets, customization demand, and sustainability trends offer substantial opportunities for growth in the following years. Download PDF Brochure: By Type, carbon steel casting accounted for the largest market share in 2024 Carbon steel casting leads with the highest share in the global steel casting market in 2024. It finds its application within a large majority of industries ranging from automotive and construction to the manufacturing sector as well. Its strength, machining, and good durability are compared to other varieties of steel available at a more reduced cost. Some of the high demanding components include an engine block, valves, and structural parts which are usually found in cast form. The versatility of carbon steel in handling both high and low temperatures, along with its ability to withstand wear and corrosion, further drives its demand in critical applications. By Process, Sand Casting Process accounted for the largest market share in 2024 The highest demand for sand casting process is because of its flexibility, economy, and capacity for large and intricate components. Its application is extensive among construction machinery, automotive, mining, and energy industries where large and intricate steel parts are in high demand. Sand casting is particularly preferred for its flexibility towards a high range of sizes and sizes, for both small and high volumes. In addition, its relatively low tooling costs as well as the flexibility to use various alloys are the reasons it finds widespread preference. Its versatility in being applied to diverse sectors ensures that sand casting is at the core of the steel casting market. By Formulation, Solvent-based formulation accounted for the largest share in 2024. Solvent-based formulation currently dominate the market due to their their proven in performance and widely applicablility to all forms of industries. Such formulation is preferred when excellent adhesion, durability, and resistance under extreme conditions to be sustained in critical components of a construction automobile industry and energy sector. Solvent-based formulations ensures that results on complex and high-strength steel parts are consistent and that is where the reliability of finished products will be maintained. As an established efficiency and adaptability factor, they continue to dominate the market despite growing environmental regulations, especially in regions that place a priority on performance rather than the use of eco-friendly alternatives. Get a Sample Copy of This Report: By Application, Power generartion segment accounted for the largest share in 2024 The power generation segment dominated the steel casting market in 2024 due to the rising demand for energy across the globe and the growing upgradations in infrastructure. Steel castings are the backbone of the manufacturing of components in the turbines, generators, and other heavy-duty equipment used in thermal, hydro, nuclear, and renewable energy plants. Steel's strength, resistance to high temperatures, and mechanical strength make it a critical component in many power generation applications where extreme conditions prevail. Renewable energy, particularly wind and solar power, added more momentum to the demand for steel castings because these sources require precision-engineered steel components. Asia Pacific accounted for the largest share of the steel casting Market in 2024 The Asia-Pacific region is projected to dominate the steel casting market, driven by strong industrial base, increasing infrastructure development, and expanding manufacturing sector. India and Japan have also emerged as lead contributors in this account because of their increasing demand for steel component usage in the Automotive, Construction, and Energy Sector respectively. The large-scale infrastructure projects undertaken by China and giant industrial output of India coupled with rapid construction activities and automotive production certainly enhanced the demand for steel castings. Coupled with the abundance of raw materials, the cheap labor charges, and advancements in manufacturing technologies, this has added further robustness to the region. Government policies that helped accelerate industrialization further assisted the market to reach further heights. It has also been fueled by ever-increasing foreign investments. Steel Casting Companies The steel casting Market comprises major players such as ArcelorMittal (Luxembourg), Doosan Corporation (South Korea), Kobe Steel, Ltd., (Japan), Nucor Corporation (US), Isgec Heavy Engineering Ltd. (India), and Georg Fischer Ltd. (Switzerland), The Japan Steel Works, Ltd. (Japan), Nelcast Limited (India), Ferralloy, Inc. (US), POSCO (South Korea) and others are covered in the steel casting market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the steel casting Market. 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. About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Yahoo
28-02-2025
- Business
- Yahoo
1 Crucial Piece of Investing Advice Warren Buffett Just Shared
Warren Buffett recently released his much-anticipated annual letter to Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) shareholders. These letters from the conglomerate's billionaire CEO are considered must-reads by millions of investors and often contain multiple valuable pieces of investing wisdom. In Buffett's letters, the legendary investor often shares an investing lesson or two he's learned along the way. And in the latest version of the letter, the first topic Buffett discussed wasn't about how well Berkshire's businesses are doing, or how the company recently broke through a $1 trillion market cap for the first time. Instead, Buffett chose to focus on the mistakes he's made. Buffett discussed several different types of mistakes in this year's letter. As he said, "Sometimes I've made mistakes in assessing the future economics of a business I've purchased for Berkshire -- each a case of capital allocation gone wrong." He went on to say that this applies to both acquisitions as well as stock investments, and that there are some glaring examples from each category, even from the recent past. Just to name a couple examples, Buffett has admitted to overpaying for Berkshire's acquisition of Precision Castparts and also admitted that he was far too optimistic when Berkshire bought IBM stock -- a position that he exited several years ago. Buffett went on to say that he has made mistakes in the past when assessing the managers Berkshire is hiring, specifically when it comes to managers "delaying the correction of mistakes." This certainly isn't the first time Buffett has acknowledged his mistakes. In fact, pointing out what he and Berkshire's team have done wrong has been a recurring theme over the years. Buffett revealed that during the 2019-23 period, he has used the words "mistake" or "error" a total of 16 times in his annual letters. Just to quickly recap some of these: In 2020, Buffett attributed an $11 billion writedown to paying too much for Precision Castparts. In 2021, Buffett discussed how it is easier to deal with a mistake in a publicly traded stock investment than a private business. In 2022, Buffett discussed how over long periods of time, winning investments can overshadow relatively minor mistakes. Buffett has even referred to his decision to take control of Berkshire Hathaway 60 years ago as perhaps his biggest investing mistake ever, saying that if he had simply started buying insurance companies instead of starting with a failing textile manufacturer, he would have made far more money. As Buffett discussed in his 2023 letter, Berkshire's late vice chairman, Charlie Munger, was the one who pointed that mistake out and helped set Warren Buffett on the path to building the modern-day Berkshire Hathaway. Perhaps the most valuable lesson to learn from Buffett's discussion is that all investors make mistakes. Nobody gets home runs (or even base hits) 100% of the time. The important thing is to learn from your mistakes and become a better investor as a result. I've made some big mistakes in my portfolio, such as selling Tesla stock in 2013 after it had roughly tripled from its IPO price. But that lesson taught me to trust my winners and hang onto them, and I probably wouldn't have some of my largest wins today if I hadn't made that mistake and learned from it. The bottom line is that one of the biggest mistakes you can make as an investor is expecting to get it right all the time. It's important to avoid making big mistakes, such as putting all of your money into a single speculative stock, but mistakes like getting a business's valuation wrong, selling a winner too soon, and buying stocks while the market is too expensive are important lessons -- not things to be ashamed of. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $328,354!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $46,837!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $527,017!* Right now, we're issuing 'Double Down' alerts for three incredible companies, and there may not be another chance like this anytime soon.*Stock Advisor returns as of February 24, 2025 Matt Frankel has positions in Berkshire Hathaway. The Motley Fool has positions in and recommends Berkshire Hathaway, International Business Machines, and Tesla. The Motley Fool has a disclosure policy. 1 Crucial Piece of Investing Advice Warren Buffett Just Shared was originally published by The Motley Fool Sign in to access your portfolio
Globe and Mail
26-02-2025
- Business
- Globe and Mail
1 Crucial Piece of Investing Advice Warren Buffett Just Shared
Warren Buffett recently released his much-anticipated annual letter to Berkshire Hathaway 's (NYSE: BRK.A)(NYSE: BRK.B) shareholders. These letters from the conglomerate's billionaire CEO are considered must-reads by millions of investors and often contain multiple valuable pieces of investing wisdom. In Buffett's letters, the legendary investor often shares an investing lesson or two he's learned along the way. And in the latest version of the letter, the first topic Buffett discussed wasn't about how well Berkshire's businesses are doing, or how the company recently broke through a $1 trillion market cap for the first time. Instead, Buffett chose to focus on the mistakes he's made. Berkshire's recent mistakes Buffett discussed several different types of mistakes in this year's letter. As he said, "Sometimes I've made mistakes in assessing the future economics of a business I've purchased for Berkshire -- each a case of capital allocation gone wrong." He went on to say that this applies to both acquisitions as well as stock investments, and that there are some glaring examples from each category, even from the recent past. Just to name a couple examples, Buffett has admitted to overpaying for Berkshire's acquisition of Precision Castparts and also admitted that he was far too optimistic when Berkshire bought IBM stock -- a position that he exited several years ago. Buffett went on to say that he has made mistakes in the past when assessing the managers Berkshire is hiring, specifically when it comes to managers "delaying the correction of mistakes." This certainly isn't the first time Buffett has acknowledged his mistakes. In fact, pointing out what he and Berkshire's team have done wrong has been a recurring theme over the years. Buffett revealed that during the 2019-23 period, he has used the words "mistake" or "error" a total of 16 times in his annual letters. Just to quickly recap some of these: In 2020, Buffett attributed an $11 billion writedown to paying too much for Precision Castparts. In 2021, Buffett discussed how it is easier to deal with a mistake in a publicly traded stock investment than a private business. In 2022, Buffett discussed how over long periods of time, winning investments can overshadow relatively minor mistakes. Buffett has even referred to his decision to take control of Berkshire Hathaway 60 years ago as perhaps his biggest investing mistake ever, saying that if he had simply started buying insurance companies instead of starting with a failing textile manufacturer, he would have made far more money. As Buffett discussed in his 2023 letter, Berkshire's late vice chairman, Charlie Munger, was the one who pointed that mistake out and helped set Warren Buffett on the path to building the modern-day Berkshire Hathaway. An important part of investing Perhaps the most valuable lesson to learn from Buffett's discussion is that all investors make mistakes. Nobody gets home runs (or even base hits) 100% of the time. The important thing is to learn from your mistakes and become a better investor as a result. I've made some big mistakes in my portfolio, such as selling Tesla stock in 2013 after it had roughly tripled from its IPO price. But that lesson taught me to trust my winners and hang onto them, and I probably wouldn't have some of my largest wins today if I hadn't made that mistake and learned from it. The bottom line is that one of the biggest mistakes you can make as an investor is expecting to get it right all the time. It's important to avoid making big mistakes, such as putting all of your money into a single speculative stock, but mistakes like getting a business's valuation wrong, selling a winner too soon, and buying stocks while the market is too expensive are important lessons -- not things to be ashamed of. Should you invest $1,000 in Berkshire Hathaway right now? Before you buy stock in Berkshire Hathaway, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Berkshire Hathaway wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. Learn more » *Stock Advisor returns as of February 24, 2025
