A new report added to the online inventory of Wise Guys Reports (WGR) announces that the global SG iron market is set to grow rapidly in the next few years.
Ductile iron, which is also referred as ductile cast iron, nodular castiron, spheroidal graphite iron, spheroidal graphite cast iron and SG iron, are all types of graphite-rich cast iron which was discovered by Keith Millis in 1943. Unlike other varieties of cast iron which are weak in tension and brittle, ductile iron or SG iron is much stronger and fatigue resistant as well.
The cost benefits offered by SG iron to the industries are also viewed as a prominent market driver. However, report focuses on some of the challenges as well that are affecting the market size of global SG iron market.
Global SG Iron Segmental Analysis
The segmental analysis of the market has been conducted based on type, application and region. The leading manufacturers that are included in this report include Waupaca Foundry, American Axle & Manufacturing (AAM), Neenah Foundry, Metal Technologies, Cifunsa, Wescast Industries(Bohong), INTAT Precision to name a few.
By type, the market has been segmented into Vertical Molding and Horizontal Molding.
Based on application, the market has been segmented into Machinery & Equipment, Automotive, Construction, Oil and Gas, Aerospace, and others.
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Global SG Iron Market: Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa) and Rest of the World (RoW). In North America, countries such as the U.S. and Canada are covered. In Europe, countries such as the UK and Germany are covered. In APAC, countries such as Japan, China and India are covered. In Latin America, countries such as Brazil and Mexico are covered. IN terms of revenue, America holds a significant portion of the global SG iron market. The leading companies use better products to get better performance thus driving the market size greatly.
Meanwhile, APAC also remains an attractive market for SG Iron. The SG iron market is driven by increasing manufacturing activity especially in the rising automobile parts production in developing markets. The growth in the market is partly driven by regional powerhouses and countries such as China and India will continue to witness steep increase in outsourced manufacturing activity over the forecast period. The market in Europe is also expected to witness a sound growth during the projection period. Since the construction equipment’s’ need to be sturdy and strong that can give long lasting benefits, so the companies and industries are using products like SG iron thus increasing the global market size of SG iron.
The report will clearly help to understand SG Iron product scope, market overview, opportunities, and future trends in a detailed and more accurate way.
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