Foundry Chemicals Market
Global foundry chemicals market is anticipated to witness significant growth in the coming years,
with projections indicating a rise from US$2.2 billion expected by the end of 2024 to a substantial
US$3.25 billion by 2031. These insights come from the latest report by Fairfield, a leading market
research firm, highlighting key trends, growth determinants, barriers, and opportunities in the
industry.
For more information: https://www.fairfieldmarketresearch.com/report/foundry-chemicals-market
Explosive Growth Trajectory
1. Projected Market Size: The global foundry chemicals market is poised to reach US$3.25
billion by 2031, exhibiting a remarkable compound annual growth rate (CAGR) of 5.73% from
2024 to 2031.
2. COVID-19 Disruptions Overcome: Despite facing disruptions due to the COVID-19 pandemic,
the market is set for steady growth, primarily propelled by robust demand from the
automotive, construction, and infrastructure sectors.
3. Key Drivers of Growth: Increased demand from automotive and aerospace industries,
coupled with technological advancements and expansion in emerging markets, are
significant growth drivers for the foundry chemicals market.
Challenges and Opportunities
1. Environmental Regulations: Stricter environmental regulations pose challenges for the
foundry industry. However, the shift towards sustainability presents opportunities for the
development of eco-friendly products aligned with regulatory standards.
2. Raw Material Price Fluctuations: Volatility in raw material prices remains a concern,
impacting production costs and profitability. Market players need to navigate these
fluctuations to ensure sustainable growth.
3. Adoption of Alternative Technologies: The emergence of alternative casting technologies,
such as 3D printing, presents a potential threat to traditional foundry processes. However, it
also opens avenues for innovation and differentiation in the market.
Key Trends Driving Innovation
1. Sustainability and Eco-friendly Products: The industry is witnessing a shift towards
sustainability, driving the development of eco-friendly foundry chemicals to minimize
environmental impact and comply with regulations.
2. Digitalization and Smart Foundries: Integration of digital technologies like IoT and AI is
transforming manufacturing processes, leading to the emergence of smart foundries and
opportunities for product development.
3. Expansion in Emerging Markets: Rapid industrialization in Asia, Africa, and South America
presents significant growth opportunities for foundry chemical market players, emphasizing
the importance of tailoring products to local needs.
4. Development of High-performance Chemicals: There is a growing demand for highperformance and specialty foundry chemicals, particularly in advanced manufacturing
sectors like aerospace and automotive, creating opportunities for innovation and
differentiation.
Regional Dynamics
1. Asia Pacific Leads Market Share: With a dominant 40% market share, Asia Pacific remains
the leader in the global foundry chemicals market, driven by rapid industrialization in
countries like China and India.
2. Europe Focuses on Sustainability: Europe, holding approximately 30% of the global share,
emphasizes environmental sustainability, presenting opportunities for manufacturers
offering eco-friendly solutions.
3. North America Emphasizes Innovation: North America boasts a mature market with steady
demand, focusing on technological advancements and process efficiency improvements to
drive growth.
Leaders in the Foundry Chemicals Space
1. Vesuvius
2. SQ Group
3. ASK Chemicals
4. Asahi Yukizai Corporation
5. KAO Chemicals
6. IVP Limited
7. Hüttenes-Albertus International
8. Mancuso Chemicals Limited
9. Mazzon SpA
10. Fincast Foundry Flux Co.
11. Ceraflux India Pvt. Ltd.
12. Hindusthan Adhesive & Chemicals
13. Çukurova Kimya