Foundry Chemical Market

Foundry Chemical Market Analysis by Coatings, Auxiliaries, Resins, and Binders for Chemicals, Manufacturing, and Automotive from 2024 to 2034

Analysis of Foundry Chemical Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Foundry Chemical Market Outlook (2024 to 2034)

The global foundry chemical market size is set to account for a revenue of US$ 2.27 billion in 2024 and forecasted to reach a valuation of US$ 3.46 billion by 2034-end, expanding at 4.3% CAGR over the next ten years (2024 to 2034).

Chemicals used to ensure the proper functioning of foundries are known as foundry chemicals. Foundry chemicals ensure the smooth operation of the casting process in foundries and are used for a wide array of specific applications. Robust industrialization is projected to be the key catalyst for foundry chemical market growth in the future.

Rapidly rising use of foundry chemicals in different industry verticals, rising awareness regarding the benefits of foundry chemical use, high focus on foundry efficiency enhancement, and increasing focus on precision in the casting process are other prospects that could contribute to the steady increase in foundry chemical market size going forward.

Developing countries such as China, India, Brazil, and Indonesia are projected to emerge as highly opportune markets for foundry chemical suppliers in the long run. Rapid urbanization and increasing manufacturing activity are slated to promote foundry chemical consumption in emerging economies through 2034.

  • Sales of foundry chemicals in South Asia & Oceania are forecasted to increase at 6.1% CAGR over the next ten years.

On the contrary, the escalating costs of raw materials required to create foundry chemicals are projected to impede sales of foundry chemicals over the next ten years and beyond. Efforts to create sustainable and cost-effective foundry chemicals are estimated to offer new opportunities for foundry chemical manufacturers in the long run.

Rising investments in the research and development of novel foundry chemicals to improve the operating efficiency of foundries and maximize productivity are also forecasted to favor demand for foundry chemicals through 2034. Rapid expansion of the aerospace and automotive industries on a global level is also set to open up new avenues of opportunities for foundry chemical distributors on a global level going forward.

Report Attributes Details
Foundry Chemical Market Size (2024) US$ 2.27 Billion
Projected Market Value (2034F) US$ 3.46 Billion
Global Market Growth Rate (2024 to 2034) 4.3% CAGR
Canada Market Value (2024E) US$ 22.6 Million
Demand Growth in South Asia & Oceania (2024 to 2034) 6.1% CAGR
East Asia Market Share (2034F) 57.1%
Demand Growth of Other Non-ferrous Foundries (2024 to 2034) 4.9% CAGR
Key Companies Profiled
  • ASK Chemicals
  • IVP Limited
  • Asahi Yukizai Corporation
  • SQ Group
  • Vesuvius
  • Çukurova Kimya
  • Hindusthan Adhesive & Chemicals
  • General Chemical Corp.
  • Hüttenes-Albertus International
  • KAO Chemicals
  • Fincast Foundry Flux Co.
  • Mazzon SpA
  • Ceraflux India Pvt. Ltd.

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Why are Foundry Chemical Suppliers Focusing on East Asia?

“Robust Manufacturing Activity across the Region”

Attribute East Asia
Market Value (2024E) US$ 1.24 Billion
Growth Rate (2024 to 2034) 4.7% CAGR
Projected Value (2034F) US$ 1.97 Billion

China has established itself as a leading manufacturing hub in the Eastern part of the world and this is why it is estimated to uplift shipments of foundry chemicals in the East Asian region over the coming years. The launch of supportive government initiatives by countries in East Asia to promote economic growth via industrialization is also predicted to bolster foundry chemical market growth potential across the study period.

  • China is predicted to account for 92.4% of the East Asia foundry chemical market share by the end of 2034.

Low costs of raw materials and availability of cheap labor are also prominent factors that attract foundry chemical companies to set up shop in East Asian countries. Increasing investments from international foundry chemical suppliers to build manufacturing facilities in this region are also projected to create new opportunities for market development through 2034.

China, Japan, and South Korea are all home to some of the most prominent names in the automotive industry around the world. These countries are also significant manufacturers of vehicles and growing sales of vehicles around the world are projected to favor demand for foundry chemicals in this region. Casting is used extensively to create different automotive components and this is why foundry chemical sales are projected to soar high in East Asia over the coming years.

  • Foundry chemical demand in Japan is estimated to account for a market valuation of US$ 73.9 million in 2024.

Fact.MR, a market research and competitive intelligence provider, in this latest foundry chemical market study report, gives a detailed regional analysis of the industry with factors such as local supply, pricing trends, product standards, safety regulations, and new developments, affecting market growth.

Foundry Chemical Market Size, Share and Sales Forecast Report by Fact.MR

Country-wise Insights

Where Asian countries provide guaranteed moneymaking opportunities for foundry chemical suppliers, European countries and the United States are also estimated to offer selective and specific growth scope as foundry chemical market trends change on a global level.

What Makes the United States a Profitable Market for Foundry Chemical Producers?

“High Use of Metal Castings in Several Industry Verticals”

Attribute United States
Market Value (2024E) US$ 218.7 Million
Growth Rate (2024 to 2034) 2.1% CAGR
Projected Value (2034F) US$ 270.53 Million

Metal castings are used to create components of aircraft and vehicles in the United States and rising demand for the same is projected to create an opportune setting for foundry chemical companies going forward. Rising adoption of advanced casting technologies and growing focus on reducing waste from foundries are also estimated to increase the uptake of foundry chemicals in the United States across the study period.

Why Should Foundry Chemical Suppliers Invest in European Countries?

“Rapid Adoption of Industrial Automation to Augment Regional Market Growth”

European countries are swiftly moving towards the adoption of automation in the industrial sector as the popularity of Industry 4.0 increases in this region. Increasing focus on sustainability is also projected to promote the use of foundry chemicals in European countries to enhance the efficiency of foundries and reduce emissions from the same. Germany, Italy, France, and the United Kingdom are forecasted to emerge as highly opportune markets for foundry chemical companies in Europe across the study period and beyond.

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Category-wise Insights

Foundry chemical providers are stressing improving the supply of resins and binders to meet their surging use in iron foundries around the world.

Which Types of Foundry Chemicals are Highly Popular?

“Resins & Binders to Bring in High Sales Revenue”

Attribute Resins & Binders
Segment Value (2024E) US$ 1.11 Billion
Growth Rate (2024 to 2034) 4.7% CAGR
Projected Value (2034F) US$ 1.74 Billion

Binders are essential in maintaining the integrity of the casting core to withstand the extremely high operating temperatures of a foundry. Meanwhile, phenolic urethane resins, CO2-cured resins, and alkaline phenolic resins are extensively used in foundries as adhesives. The high use of binders and resins in the making of molds for casting helps them account for a prominent share in the global marketplace.

Where Will Bulk of Foundry Chemicals Be Used?

“Iron Foundries to Account for Prominent Market Share”

Attribute Iron Foundries
Segment Value (2024E) US$ 1.38 Billion
Growth Rate (2024 to 2034) 4.1% CAGR
Projected Value (2034F) US$ 2.08 Billion

Casting iron is a relatively easy task as compared to casting steel or other materials, which is why the demand for iron casting is higher in foundries than any other material. The high strength and low cost of iron casting make it an ideal choice for different applications in various industry verticals, which is why the majority of foundry chemical sales are estimated to come from iron foundries over the next ten years.

Increasing use of steel and aluminium in the manufacturing of different automotive and aerospace components is projected to create new opportunities for foundry chemical vendors to maximize their sales in foundries working with aluminium and steel going forward.

  • Foundry chemical consumption in steel and alloy steel foundries is forecasted to increase at 4.8% CAGR over the next ten years.

Competitive Landscape

Foundry chemical manufacturers are focusing on mergers, acquisitions, and collaborations to expand their business scope and increase their global foundry chemical market share.

  • In June 2021, ASK Chemicals, a renowned foundry chemical distributor, announced that it had signed an agreement for the purchase of the industrial resin business division of SI Group, a leading supplier of performance additives. With this acquisition, ASK strengthened its stance in the foundry as well as the non-foundry marketplace on a global level.

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Competitive landscape highlights only certain players
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Key Segments of Foundry Chemical Market Research

  • By Product Type :

    • Coatings
      • Solvent-based Coatings
      • Water-based Coatings
      • Others
    • Auxiliaries
    • Resins & Binders
      • Cold Box Systems
        • Alkaline Phenolic Resins
        • CO2 Cured Resins
        • Others
      • No-Bake Systems
        • Furan Resin
        • Phenolic Urethane Resins
        • Others
      • Hot Box/Shell Systems
    • Others
  • By Foundry Type :

    • Iron Foundries
    • Steel & Alloy Steel Foundries
    • Aluminium Foundries
    • Other Non-ferrous Foundries
  • By End-use Industry :

    • Chemicals
    • Automotive
    • Manufacturing
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

How big is the foundry chemical market expected to be in 2024?

The global foundry chemical market is estimated to be valued at US$ 2.27 billion in 2024.

What is the projected market valuation for 2034?

Sales of foundry chemicals are forecasted to reach US$ 3.46 billion by 2034-end.

At what CAGR will foundry chemical sales rise?

The market for foundry chemicals is projected to increase at 4.3% CAGR over the next ten years.

Where is foundry chemical demand expected to be high?

The market in East Asia is forecasted to expand at a CAGR of 4.7% from 2024 to 2034.

Which foundries use the most foundry chemicals?

Iron foundries are projected to account for 61% of global foundry chemical demand in 2024.

Who are the top foundry chemical suppliers?

ASK Chemicals, IVP Limited, Asahi Yukizai Corporation, SQ Group, and Vesuvius are leading foundry chemical manufacturing companies.

- Also of Interest -

Metal Coatings Market

Metal Coatings Market Analysis by Product Type (Fluoropolymers, Polyurethanes, Polyester, Plastisol), by Process (Coil, Extrusion, Hot Dip Galvanizing), by Form (Liquid, Powder), by End-Use & Regional Forecast 2022-2032

Aluminum Castings Market

Aluminum Castings Market By Process (Die Casting, Permanent Mold Casting), By End Use (Transportation, Industrial, Building & Construction), and Region - Global Market Insights 2023 to 2033

Phenolic Resins Market

Phenolic Resins Market Analysis By Type (Phenolic Resol Resins, Phenolic Novolac Resins & Others) By Application (Insulation Paper, Impegration, Wood Adhesives, Laminates & Molding) By End-Use, By Region – Global Market Insights 2022 to 2032

Foundry Chemical Market

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