Automotive Gray Iron Castings Market size was valued at USD 7 Billion in 2024 and is projected to reach USD 10 Billion by 2033, exhibiting a CAGR of 4.5% from 2026 to 2033.
South Korea's automotive gray iron castings market is experiencing significant growth, driven by the increasing demand for durable and cost-effective components in the automotive sector. Gray iron castings are essential for manufacturing engine blocks, brake components, and other critical parts due to their excellent castability, wear resistance, and vibration-damping properties.
Key players in the South Korean market, such as Hyundai Motor Company and POSCO, are leading the production of high-performance cast components. These companies supply products to various industries, including automotive, electronics, and aerospace. The government's supportive regulations and policies are further propelling the market's expansion, especially with the growing trend toward electric vehicles (EVs) requiring innovative casting solutions for lighter and stronger components.
The market is segmented by product types, with light alloys expected to see substantial demand due to the push for lightweight components that enhance fuel efficiency and performance. Closed die forging is predicted to experience significant growth, attributed to its ability to produce complex shapes with excellent dimensional accuracy and surface finish, catering to demanding sectors such as automotive and aerospace.
In terms of applications, the automotive industry is expected to witness substantial expansion as the demand for lightweight and high-strength components increases alongside the rise of electric and hybrid vehicles. The integration of advanced technologies, such as 3D printing and additive manufacturing, is enabling more complex and intricate designs with greater precision, enhancing production efficiency and opening new possibilities in product design and customization.
Overall, the automotive gray iron castings market in South Korea is poised for continued growth, supported by technological advancements, government initiatives, and the evolving needs of the automotive industry.
Get an In-Depth Research Analysis of the South Korea Automotive Gray Iron Castings Market Size And Forecast [2025-2032]
Â
Hitachi Metals
Grede Foundry
Draxton
MAT Foundry
Weichai Power (Weifang) Casting
Faw Foundry
Neenah Foundry
Tianjin New Wei San Industrial
Huaxiang Group
Metal Technologies
Inc.
INTAT Precision
Meide Group
Farinia Group
Rochester Metal Products
Kutno
Â
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the South Korea Automotive Gray Iron Castings Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Automotive Gray Iron Castings Market
Engine Blocks
Transmission Cases
Brake Components
Suspension Parts
Other Components
Sand Casting
Permanent Mold Casting
Shell Molding
Die Casting
Others
Passenger Vehicles
Commercial Vehicles
Heavy-Duty Vehicles
Electric Vehicles
Motorcycles
OEMs (Original Equipment Manufacturers)
Aftermarket
Automotive Components Suppliers
Custom Parts Manufacturers
Lightweight Castings (Up to 25 kg)
Medium Weight Castings (25 kg - 100 kg)
Heavyweight Castings (Above 100 kg)
Customized Weight Castings
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Automotive Gray Iron Castings Market Research Analysis
1. Introduction of the South Korea Automotive Gray Iron Castings Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Automotive Gray Iron Castings Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Automotive Gray Iron Castings Market, By Type
6. South Korea Automotive Gray Iron Castings Market, By Application
7. South Korea Automotive Gray Iron Castings Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Automotive Gray Iron Castings Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/