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.

Questions Answered:

• 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?

Companies Mentioned:

• Anhui Yingliu
• Hitachi
• Kobe Steel
• Precision Castparts
• JFJC
• Peekay
• Amsteel Castings
• ESCO
• Hyundai Steel
• Nucor

• Pacific Steel Casting