Dublin--(BUSINESS WIRE)--"The scale, share and trend of cast iron market by product (forge, gray, ductility), by application (automobiles, machinery and tools, rail), by region (Asia Pacific, Europe) "Analysis reports" and market segment forecasts, 2021-2028" reports have been added to ResearchAndMarkets.com's products.

By 2028, the global cast iron market is expected to reach USD 136.55 billion, growing at a compound annual growth rate of 6.1% during the forecast period. The recent outbreak of COVID-19 has had a significant impact on the demand for cast iron and hindered market growth.

Due to the COVID-19 pandemic, the growth of the European automotive industry and the decline in production have affected the demand for cast iron and its raw materials. In order to recover from the losses, European countries have allocated stimulus plans to revitalize the economy and automobiles and other industries. For example, in September 2020, the French government announced an allocation of approximately US$118.3 billion to reduce the impact of the pandemic on the economy.

In the long run, the automotive industry is expected to benefit the entire market, but its growth has been significantly affected in North America in the first half of 2020. In mid-May 2020, auto factories in the United States and Canada resumed work, but most Mexican companies have not resumed work by the end of May 2020. North American countries.

Due to the pandemic, the Asia-Pacific region has also been significantly affected. However, these countries are recovering rapidly, especially China. The rapid growth of construction and infrastructure projects in the region is expected to stimulate product demand for pipe and fitting applications. In addition, it is expected that the growth of the automotive industry from the second quarter of 2020 will boost product demand.

Automobiles and machinery and tools are the largest application areas in 2020. Other applications such as pipes and fittings, pots and pans, shipbuilding, electronic equipment, wind turbines, tractors, heavy vehicles, agriculture, textiles and paper are also expected to see significant growth in the next few years.

Highlights of the cast iron market report

Chapter 3 Cast Iron Market Variables, Trends and Scope

3.2. Penetration and growth prospects

Chapter 4 Cast Iron Market: Product Estimation and Trend Analysis

Chapter 5 Cast Iron Market: Application Estimates and Trend Analysis

Chapter 6 Cast Iron Market: Regional Estimation and Trend Analysis

7.1. Major global players, recent developments and their impact on the industry

7.2. Key companies/competitive classification (key innovators, market leaders, emerging players)

7.3.1. List of raw material suppliers

For more information about this report, please visit https://www.researchandmarkets.com/r/5t4nyh.

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900