Foundry Chemicals Market Research Report By Product Type (Binders, Additives, Coatings, Release Agents, Other), By Foundry Process (Sand Casting, Investment Casting, Die Casting, Centrifugal Casting, Other), By Application (Automotive, Industrial Machinery, Aerospace & Defense, Construction, Consumer Products, Other), By End-use Industry (Automotive, Industrial Machinery, Aerospace & Defense, Construction, Consumer Products, Other) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 203

Global Foundry Chemicals Market Overview

The Foundry Chemicals Market Size was estimated at 16.23 (USD Billion) in 2022. The Foundry Chemicals Industry is expected to grow from 16.89(USD Billion) in 2023 to 24.2 (USD Billion) by 2032. The Foundry Chemicals Market CAGR (growth rate) is expected to be around 4.07% during the forecast period (2023 - 2032).

Key Foundry Chemicals Market Trends Highlighted

Foundry chemicals play a crucial role in the production of metal castings, enhancing the quality, efficiency, and safety of the process. Key market drivers include the growth of the automotive and construction industries, increasing demand for lightweight and durable materials, and the need for improved casting productivity. Opportunities lie in the development of sustainable and environmentally friendly chemicals, as well as advancements in automation and digitization. Recent trends reveal a growing focus on binder systems that reduce emissions and enhance casting properties, the integration of AI and IoT technologies for process optimization, and the adoption of advanced materials such as nanomaterials and graphene in foundry chemicals. These trends are shaping the future of the industry, driving innovation and addressing the evolving needs of the market. 

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Foundry Chemicals Market Drivers

Growing Demand for Automotive Castings

The automotive industry is one of the largest consumers of foundry chemicals, as castings are used in many automotive parts, including engine blocks, cylinder heads, and brake rotors. The automotive castings market has been expanding due to the growing demand for lightweight and fuel-efficient vehicles, which in its turn has increased the demand for foundry chemicals used to produce these castings. Furthermore, the increasing popularity of electric vehicles is expected to raise the demand for foundry chemicals as well, as electric vehicles need more castings than traditional gasoline-powered ones.The automotive market will continue expanding in the future, which will positively affect the demand for foundry chemicals. Foundry chemicals are expected to be in particularly high demand in the rapidly developing economies, such as China or India, where the automotive production is also expected to grow. The increasing demand for castings for automotives is one of the key market drivers in the  Foundry Chemicals Market Industry.

Increasing Adoption of Advanced Casting Technologies

The foundry industry is always going through changes and new casting technologies are developed. There are such technologies as vacuum casting and investment casting, for instance, require foundry chemicals that would allow castings to meet all the required specs. The ever-increasing application of the above-given casting technologies is sure to facilitate the demand for chemicals designed with new technologies in mind. For example, the demand for high-performance castings is increasing that is why appropriate foundry chemicals are needed.These new castings are widely applied in various sectors such as aerospace, medical, energy, and others. It is now one of the most essential factors that encourage increasing advanced casting technologies adoption in the  Foundry Chemicals Market Industry.

Stringent Environmental Regulations

The foundry industry is quite heavily regulated in terms of different environmental regulations designed to protect the environment and human health. This concerns such aspects as emissions of various pollutants, like particulate matter and volatile organic compounds or hazardous waste disposal. Over time, such regulations tend to increase in stringency, which drives the demand for more environmentally friendly foundry chemicals. Producers of these chemicals develop novel foundry chemicals compliant with these requirements.All of the above features, together with others, render the increasing stringency of environmental regulations one of the most important market drivers in the  Foundry Chemicals Market Industry.

Foundry Chemicals Market Segment Insights

Foundry Chemicals Market Product Type Insights

The  Foundry Chemicals Market is segmented by product type into binders, additives, coatings, release agents, and other. The binder’s segment is expected to account for the largest share of the market in 2023 and is projected to continue to grow at a CAGR of 4.2% through 2032. The additives segment is expected to be the fastest-growing segment, with a CAGR of 4.5% over the same period. Binders are used to hold the sand together in a mold and can be either organic or inorganic. Organic binders are made from materials such as starch, dextrin, and molasses, while inorganic binders are made from materials such as sodium silicate and clay.Additives are used to improve the properties of the sand mold, such as its strength, permeability, and collapsibility. Additives can also be used to control the rate of cooling of the molten metal, and to prevent the formation of defects. Coatings are applied to the surface of the mold to create a barrier between the molten metal and the sand. Coatings can also be used to improve the surface finish of the casting. Release agents are used to prevent the casting from sticking to the mold. Release agents can be either dry or liquid and are typically applied to the mold surface before the molten metal is poured.The other segment includes a variety of other foundry chemicals, such as fluxes, inoculants, and degassers. The growth of the market is being driven by the increasing demand for castings in various industries, such as automotive, construction, and machinery. The increasing adoption of advanced casting technologies is also expected to drive the growth of the market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Foundry Chemicals Market Foundry Process Insights

The Foundry Chemicals Market is segmented by Foundry Process into Sand Casting, Investment Casting, Die Casting, Centrifugal Casting, and Other. Sand Casting held the largest share of the market in 2023 and is expected to continue to dominate the market during the forecast period. The growth of the Sand Casting segment can be attributed to its low cost and versatility, making it suitable for a wide range of applications. Investment Casting is expected to witness the highest growth rate during the forecast period, driven by the increasing demand for high-precision castings in industries such as aerospace and automotive.Die Casting is another major segment, and is expected to grow steadily during the forecast period due to its ability to produce complex shapes with high accuracy and repeatability. Centrifugal Casting is a specialized process used for producing castings with a high degree of concentricity and is expected to witness moderate growth during the forecast period. Other Foundry Processes include lost-foam casting, permanent mold casting, and shell molding, and are expected to contribute a small but growing share of the market.

Foundry Chemicals Market Application Insights

The application segment plays a crucial role in shaping the  Foundry Chemicals Market landscape. Automotive applications are anticipated to dominate the market, driven by the rising demand for lightweight and fuel-efficient vehicles. In 2023, the automotive segment accounted for approximately 35% of the  Foundry Chemicals Market revenue. Industrial machinery applications are also expected to witness significant growth, supported by the increasing adoption of automation and robotics in various industries. Aerospace Defense, Construction, and Consumer Products applications are projected to contribute steadily to the overall market growth.These insights highlight the diverse applications of foundry chemicals across various industries, providing valuable market segmentation data for stakeholders. 

Foundry Chemicals Market End-use Industry Insights

The  Foundry Chemicals Market is expected to be valued at USD 24.2 billion by 2032, exhibiting a CAGR of 4.07% during the forecast period. The End-use Industry segment plays a crucial role in driving market growth. Foundry chemicals are essential in various end-use industries, including automotive, industrial machinery, aerospace defense, construction, consumer products, and others. The automotive industry holds a significant share of the market, driven by the increasing demand for vehicles and the need for high-quality castings. Industrial machinery and aerospace defense industries also contribute significantly to market growth due to the use of castings in heavy-duty equipment and aircraft components.Construction and consumer products industries also utilize foundry chemicals for applications such as building materials and household appliances. The growing demand for lightweight and durable materials, coupled with technological advancements in casting processes, is expected to drive the market for foundry chemicals. However, fluctuations in raw material prices and environmental regulations pose challenges to the industry. Despite these challenges, the increasing adoption of sustainable practices and the development of innovative products are expected to create new opportunities for market growth.

Foundry Chemicals Market Regional Insights

North America is poised to retain its dominant position, accounting for a significant share of the  revenue by 2024, driven by the presence of established automotive and manufacturing industries. Europe follows closely behind, benefiting from a robust automotive sector and stringent environmental regulations promoting the adoption of eco-friendly foundry chemicals. The APAC region is projected to witness substantial growth, fueled by burgeoning automotive and construction sectors, particularly in China and India.South America and MEA represent emerging markets with untapped potential, offering growth opportunities for foundry chemical manufacturers.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Foundry Chemicals Market Key Players and Competitive Insights

Leading players in Foundry Chemicals Market are focusing on strategic partnerships to enhance production capacities and expand in The Foundry Chemicals Market share. Additionally, companies are focusing on Foundry Chemicals Market Competitor’s Analysis and expansions, Research Development to strengthen geographic reach and overall product capabilities. On the other hand, Foundry Chemicals Market development is primarily driven by the launch of advanced products along with implementing these products in welding technologies. At the same time, upgraded solutions and Foundry Chemicals Market efficiencies of advanced materials are positively impacting the Foundry Chemicals Market growth.Advancements in automation and digitalization have driven Foundry Chemicals Market development, which in turn, has increased the productivity and efficiency of manufacturing processes. Additionally, numerous Leading Foundry Chemicals Market players are engaged in finding cost-effective solutions for businesses. Mergers and acquisitions are taking place as Foundry Chemicals Market companies are focusing on expanding their product portfolios and geographic reach. Thus, the Foundry Chemicals Market Industry Growth is expected during the forecast period mainly because of Foundry Chemicals Market players focusing on strategic mergers and acquisitions.The competitive landscape of Foundry Chemicals Market is highly fragmented. Companies adopt smart strategies, use automated technologies for reducing time delays, and use new materials and technologies that are cost-effective and provide production, labor efficacies. One of the prominent players, ASK Chemicals, operates in the Foundry Chemicals Market, and offers a wide range of foundry chemicals such as binders, coatings, and release agents. Additionally, it has a strong geographic presence and emphasizes Foundry Chemicals Market innovation. On the other hand, another leading company, Httenes-Albertus, is also operating in the Foundry Chemicals Market. It is known for its expertise in binder systems and inorganic foundry chemicals. The company has a long history in the industry and offers a wide Foundry Chemicals Market product profile for various foundry applications.

Key Companies in the Foundry Chemicals Market Include

• BASF


• Dow


• Clariant


• Lanxess


• Schundler


• Ashland


• Quaker Houghton


• Minerals Technologies


• SK Chemicals


• Evonik


• Solvay


• Imerys


• Tata Chemicals


• Albemarle

Foundry Chemicals Market Industry Developments

The  foundry chemicals market is projected to reach USD 24.2 billion by 2032, exhibiting a CAGR of 4.07% during the forecast period. Rising demand for castings from the automotive and construction industries is driving market growth. Growing adoption of lightweight materials like aluminum and magnesium in automotive manufacturing to enhance fuel efficiency and reduce emissions is expected to boost demand for foundry chemicals used in the production of these materials. Additionally, increasing infrastructure spending in emerging economies is anticipated to fuel demand for construction castings, further driving market expansion. Recent developments include strategic collaborations and acquisitions among market players to expand product portfolios and strengthen geographic presence. For instance, in 2023, ASK Chemicals acquired the foundry chemicals business of Httenes-Albertus (HA) to enhance its offerings in the steel foundry segment.

Foundry Chemicals Market Segmentation Insights

Foundry Chemicals Market Product Type Outlook

• Binders


• Additives


• Coatings


• Release Agents


• Other

Foundry Chemicals Market Foundry Process Outlook

• Sand Casting


• Investment Casting


• Die Casting


• Centrifugal Casting


• Other

Foundry Chemicals Market Application Outlook

• Automotive


• Industrial Machinery


• Aerospace Defense


• Construction


• Consumer Products


• Other

Foundry Chemicals Market End-use Industry Outlook

• Automotive


• Industrial Machinery


• Aerospace Defense


• Construction


• Consumer Products


• Other

Foundry Chemicals Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa