Compacted Graphite Iron Market Growth Analysis | 2023-2028

Market Insights

The compacted graphite iron market was estimated at USD 7.82 million in 2022 and is likely to grow at a CAGR of 4.5% during 2023-2028 to reach USD 10.21 million in 2028.

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Market Dynamics

Introduction

Compacted graphite iron is basically a form of cast iron in which the shape of the graphite particles lies between that of conventional grey iron flakes and ductile iron, where the graphite is in the form of a sphere. It is mainly used where lower weight or greater strength than cast iron is required.

Market Drivers

Rapidly growing demand for low emissions, high torque, and improved fuel economy in high-performance vehicles, development of favorable features, such as high tensile strength and lightweight properties, superior product design, and assistance in the production & assembly process for large volume production of diesel engine models are some of the major factors driving the market growth during the forecast period.

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Key Players

Some of the key players in the compacted graphite iron market are:

• ASI International, Ltd.
• Atlas Foundry Company
• Durham Foundry
• Eisengiesserei Baumgarte GmbH
• Saguenay Foundry
• Silbitz Group GmbH
• SinterCast AB
• Teksid Iron
• Tupy SA
• Waupaca Foundry.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Grade Type

Based on the grade type, the market is segmented as 300 MPa, 350 MPa, 400 MPa, 450 MPa, and 500 MPa. 400 MPa is estimated to be the dominant segment accounting for the largest share of the market, owing to the excellent features offered to it, such as superior electrical properties, lightness, moisture resistance, and high tensile strength coupled with enhanced shelf life. The development of products with excellent fuel-efficient features to improve usage in diesel engines and sustainable design improvement for engine applications is expected to accelerate market growth during the forecast period.

By Product Type

Based on the product type, the market is segmented as spheroid and nodules. The spheroid product type is projected to account for the largest share of the market during the forecast period. The shape of this product allows it to get accustomed to almost all types of engine components used for automobile applications, such as power-generating equipment and construction equipment, and it also finds various applications having advantageous features, such as improved handling, fuel efficiency, reduced acceleration time, and relatively smooth functioning, fueling the segment’s growth during the forecast period.

By Application Type

Based on the application type, the market is segmented as automotive, construction, marine, power generation, and others. Automotive application is projected to hold the largest share of the market during the forecast period, owing to the utilization of compacted graphite iron in manufacturing engines. This improves their performance abilities in conjunction with weight reduction and provides minimized acceleration time, better fuel efficiency, better handling, and relatively smooth rides, driving the segment’s growth over the forecast period.

Regional Insights

In terms of regions, Europe is estimated to account for the major share of the market owing to the growing adoption of lightweight materials in the automotive industry during the forecast period. The automotive manufacturers are influenced by the stringent compliances made by the EU, to install lightweight cast iron in their vehicle engines, in order to decrease the emission of carbon dioxide, fueling the growth of the regional market over the forecast period. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects compacted graphite iron market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The compacted graphite iron market is segmented into the following categories:

By Grade Type

• 300 MPa
• 350 MPa
• 400 MPa
• 450 MPa
• 500 MPa

By Product Type

• Spheroid
• Nodules

By Application Type

• Automotive
• Construction
• Marine
• Power Generation
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the grade types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

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