Cold Box Resin Casting Market Size, Share, Growth, And Industry Analysis By Type (Phenolic Urethane Cold Box Binder (PUCB), Phenolic Ester Cold Box (PECB) Binder and Others) By Application (Cast Iron Casting, Steel Casting, Aluminum Casting and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Cold Box Resin Casting Market Report Overview

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The global cold box resin casting market size is anticipated to be USD 777.7 million in 2021 and is projected to touch USD 1265.05 million by 2031, exhibiting a CAGR of 5.0% during the forecast period.

Cold box casting technology has evolved since its introduction in 1968 and brought a change in the mass production of foundry processes worldwide. There are many notable advantages of cold cold box resin casting due to which it is in standard industrial uses in recent times. It offers high productivity, high core stability, cost-effective and environment-friendly.

The last decades saw the rise in the living standard and purchasing power of the people. As the infrastructure skyrocketed the construction, the automotive and chemical industry achieved new heights. The uses of metal casting became prominent and as the demand increased technology was integrated to keep up with the demands and improve efficiency.

COVID-19 Impact: Slowdown of End-user Industries to Hamper the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the Cold box resin casting market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 affected all the major industrial sectors due to the sudden shutting down of the manufacturing unit and national and international borders.  The construction industry came to a halt as the infrastructure was put aside to focus on strengthening healthcare. Although healthcare infrastructure witnessed rising demands, however, there was a state of disbalance between the supply and demand in the market. The supply logistic was interpreted owing to many unavoidable factors. The availability of raw materials became a major challenge and the lack of human resources and capital strained the production. Moreover, there was a dearth of capital for research and development. As the normalization period starts, the chemical and construction industry is projecting higher growth the market is expected to improve in the forecasted year. 

LATEST TRENDS

"Advancement in the Heat Treatment Technology to Increase Market Competition"

Heat treatment is an important step and innovation and modern approaches are being made often to improve the effectiveness of the process and strive for higher output. The integration of modern equipment in this process will affect the cold box resin casting market.  Apart from this, the rise in robotics developments and research will drive the cold box resin casting market as it extensively needs parts in various sizes and forms.

Cold Box Resin Casting Market Segmentation

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• By Type

Based on type, the market is divided into phenolic urethane cold box binder (PUCB), phenolic ester cold box (PECB) binder and others. The phenolic urethane box binder (PUCB) is expected to lead this segment in the forecasted year.

• By Application

Based on the application, the market is divided into cast iron casting, steel casting, aluminium casting and others. Cast iron casting is anticipated to lead this segment in the upcoming year.

DRIVING FACTORS

"Growth of Sustainable Foundry Process to Accelerate the Product Sale"

The word 'sustainable' has achieved a high level of importance as many organizations are considering it as their primary objective in planning their manufacturing process. The technological advancement and the expanding infrastructure developments accompanied by intensified consumer demands have resulted in ignorant degradation of the environment. The recent occurrence of climate change has been an eye opener and the governments are compelled to establish stringent regulations to maintain ecological balance and promote sustainable living.

The consumer is becoming environmentally conscious and embracing eco-friendly products. The foundry industry is growing at an unprecedented rate and integrating the concepts of sustainability and making an effort to introduce efficient mouldings methods. The foundry industry consumes a large number of energy resources and emits harmful gases thus the legal provision is a binding force to change the manufacturing process. Cold Box Resin Casting technology is being constantly developed and pushing its boundaries to decrease the emission of harmful gases, low odour, increase productivity, and high strengths and reliability of the sands. Moreover, it is cost-effective and reduces production costs. The ecological advantages will be a major driving factor for cold box resin casting market growth in the forecasted year.

"Increasing Demand from the Developing Countries to Boost the Cold box resin casting Market Demand"

The foundry process is extensively used in the construction, automotive, power generation and jewellery industry.  The economic developments and rising demands from the emerging nations will be a crucial driving factor in the cold box resin casting market share. The developing countries are investing in the expansion of their infrastructure and constructing futuristic commercial and residential buildings as a process of nation-building and to increase productivity with the incorporation of technology.  The increasing purchase power and high living standard is yielding profit to the automotive industry which in turn has a positive effect on the cold box resin casting market growth. The population expansion and the economic, as well as ecological benefits, will contribute to the growth of the cold box resin casting market size in the upcoming years.

RESTRAINING FACTORS

"High-cost of Quality Control to Hamper the Market Growth"

The foundry market demand is surging in recent years however high maintenance costs and the consistent upcoming regulations by the government are compelling the key organization to adhere to the legal regulations which are affecting the efficiency and potentiality of the product. The availability of the alternative product in the market is a major restraining factor affecting the cold box resin casting market.  

Cold Box Resin Casting Market Regional Insights

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"North America to Dominate the Market due to Increasing Demand. "

North America dominates the market due to the rise in demand for aluminium casting from various sectors. The government is replacing the worn-out infrastructure with modern innovations due to which there is a significant rise in the development of commercial and residential buildings. Moreover, Latin American countries are developing economically and venturing toward the process of nation-building. Moreover, the financial standpoint of this region advocates and provides more opportunities for research and innovations.

KEY INDUSTRY PLAYER

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• ASK Chemicals (Germany)
• HA-International (U.S.)
• Vesuvius Group (India)
• Suzhou Xingye (China)
• REFCOTEC (U.S.)
• Jinan Shengquan (China)
• Asahi Yukizai (Japan)
• F.lli Mazzon (Italy)
• Furtenbach (Germany)
• United Erie (U.S.)
• Mancuso Chemicals (Canada)
• IVP (U.S.)

REPORT COVERAGE

This report covers the analysis of Cold box resin casting providing a comprehensive market insight focusing on the existing key players who would play a crucial role in the forecasting period. It also analyses based on segmentation, industrial developments, trends, growth, size, share, restraints and revenue. The report covers an overview of the latest driving factor in the industry, dominant region, latest innovations and opportunities