Foundry Binders Market

Foundry Binders Market

Foundry Binders Market Forecasts to 2030 - Global Analysis By Product Type (Inorganic Binder, Organic Binder, Heat Curing, Coldbox, Polyurethane Coldbox, Phenolic Resole, Epoxy and Other Product Types), Industry Structure (Polyurethane No-Bake and Automated), Application (Ferrous, Non-Ferrous, Chemical Industry, Resin, Paint, Ceramic and Other Applications), End User and by Geography

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Published: 2024 ID: SMRC25501

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2023)

US $3.81 BN

Projected Year Value (2030)

US $5.69 BN

CAGR (2023 - 2030)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America

According to Stratistics MRC, the Global Foundry Binders Market is accounted for $3.81 billion in 2023 and is expected to reach $5.69 billion by 2030 growing at a CAGR of 5.9% during the forecast period. Foundry binders are vital parts of the metal casting process; they shape and solidify molds so that metal components can be produced. These binders are specialty additives that are combined with molding sand to form a cohesive and durable blend. Foundry binder’s main job is to give the mold stability and strength so that it can endure the high heat and pressure of the casting process, binders aid in the construction of precise and complex molds by joining the sand particles, guaranteeing that the finished metal castings fulfill the required requirements.

According to the American Foundry Society, the proper selection and application of foundry binders are critical factors in achieving optimal casting quality and efficiency.

Market Dynamics: 


Growing need for low-profile materials

One major factor propelling the foundry binding market is the increasing need for lightweight materials in sectors like aerospace and automotive. Foundry binders are essential in shaping molds for complex parts that need to be lightweight and strong. Furthermore, foundry binders help to produce lightweight, high-strength castings that meet the changing demands of modern applications as industries place an increasing emphasis on fuel efficiency and performance.


Exorbitant start-up expenses and capital commitments

The high upfront costs of implementing cutting-edge binder technologies are a major barrier to the foundry binder market. Foundries might need to make large capital expenditures in order to update their machinery and introduce novel binder formulations. Innovative binders may not be widely adopted if foundries, particularly smaller ones, are discouraged by the initial financial burden. Additionally, cost factors, therefore, have the potential to hinder or postpone the switch to more economical and ecologically friendly binder solutions.


Growing need for metal casting and 3D printing

The market for foundry binders has a lot of potential due to the growing use of 3D printing in metal casting. The need for binders that can successfully support the complex structures made through additive manufacturing is rising as 3D printing technology becomes more widely used in the manufacturing sector. Moreover, this provides new opportunities for innovation and market expansion by allowing for the creation of specialty binders that are specifically designed to meet the demands of metal casting and 3D printing.


Alternative technologies competition

Traditional foundry practices and, consequently, foundry binders are under threat from the emergence of alternative casting technologies, such as 3D printing and other advanced manufacturing processes. Reduced material waste, quicker production cycles, and increased design flexibility are some of the benefits that these alternative technologies might provide. Additionally, the overall demand for binders in some applications may be impacted by new manufacturing techniques that compete with traditional sand casting processes, which could affect foundry binders.

Covid-19 Impact: 

The COVID-19 pandemic has had a major effect on the market for foundry binders, leading to supply chain disruptions, manufacturing facility closures for a while, and a slowdown in industrial activity. Movement restrictions and labor shortages have caused production schedules to be delayed and demand from sectors like construction and automotive to decline. However, the market is facing additional challenges due to price fluctuations and the unpredictability of the availability of raw materials. Still, as the world economy stabilizes, the foundry binding market should gradually recover due to the growing emphasis on robust and sustainable supply chains as well as recovery efforts in other industries.

The Polyurethane No-Bake segment is expected to be the largest during the forecast period

It is expected that the polyurethane no-bake binders segment will command the largest share of the foundry binders market. This dominance is explained by polyurethane's superior qualities, which include high strength, durability, and adaptability. These qualities make polyurethane a top option for crafting complex molds for metal casting. Moreover, the term No-Bake describes the binder's enhanced casting efficiency that results from its ability to cure at room temperature without the need for additional heat. 

The Chemical Industry segment is expected to have the highest CAGR during the forecast period

In the foundry binder market, the chemical industry segment is projected to have the highest CAGR. The need for foundry binders in a variety of chemical processes and applications is what is driving this growth. For metal components used in the chemical industry, foundry binders are essential in shaping molds and guaranteeing accuracy and productivity during the casting process. Additionally, the robust growth of this segment can be attributed to the growing need for specialized metal components in the chemical industry, as well as advancements in foundry binder formulations to meet specific chemical requirements.

Region with largest share:

Asia Pacific held the largest share of the foundry binders market. Due to its significant presence in a number of foundry-dependent industries, including automotive, aerospace, and machinery manufacturing, this region dominated the market. Significant factors in the expansion of the market in the region were South Korea, Japan, China, India, and others. Furthermore, the Asia Pacific region's fast industrialization, expanding population, and rising investments in infrastructure development led to a significant demand for metal castings, which in turn drove a demand for foundry binders. Further bolstering the region's dominance in the foundry binding market were cost-effective production capabilities, technological advancements, and supportive government policies.

Region with highest CAGR:

North America has the highest CAGR in the foundry binders market. The demand for foundry binders has increased noticeably in North America as well, despite Asia-Pacific being the dominant region. The area has a thriving manufacturing sector, especially in sectors that depend heavily on metal castings, like aerospace, defense, and automotive. The need for high-performance foundry binders, growing emphasis on environmentally friendly and sustainable manufacturing practices, and technological advancements have all contributed to the market's expansion in North America. Moreover, the region's strong emphasis on R&D, together with the presence of significant industry players and advantageous government regulations, have all helped to fuel the growth of the foundry binders market in North America.

Key players in the market

Some of the key players in Foundry Binders market include BASF SE, Kao Corporation, Vesuvius, Eurotek Foundry Products Limited, Imerys, HA-International LLC, Ashland Global Holdings Inc., Suzhou Xingye Foundry Material Co., Ltd, Hüttenes-Albertus Chemische Werke GmbH, Foseco (Foundry Service Company) and ASK Chemicals.

Key Developments:

In November 2023, BASF, a globally leading battery materials producer, and SK On, a globally leading electric vehicle battery cell manufacturer, have entered into an agreement to jointly evaluate collaboration opportunities in the global lithium-ion battery market focused on North America and Asia-Pacific. The collaboration brings together strong business and product development capabilities to develop industry-leading battery materials for lithium-ion batteries.

In August 2023, Japan’s beauty giant Kao Corporation has announced an agreement to acquire Australian sun and body care brand Bondi Sands. The operation, estimated to be worth 450 million Australian dollars, allows the group to strengthen its sun care business.
In May 2023, Imerys, the world's leading supplier of mineral-based specialty solutions is collaborating with TotalEnergies to install a large-scale solar power system paired with battery energy storage at its Lompoc facility in Santa Barbara County, California, as part of a long-term energy services contract. This project is in alignment with Imerys' commitment to reducing greenhouse gas emissions across its global facilities and will eliminate approximately 7,000 metric tons of CO2 emissions annually.

Product Types Covered:
• Inorganic Binder
• Organic Binder
• Heat Curing
• Coldbox
• Polyurethane 
• Phenolic Resole
• Epoxy
• Other Product Types 
Industry Structures Covered:
• Polyurethane No-Bake
• Automated 

Applications Covered:
• Ferrous
• Non-Ferrous
• Chemical Industry
• Resin
• Paint
• Ceramic
• Other Applications 

End Users Covered:
• Mold Sand Casting
• Core Sand Casting
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary           
2 Preface           
 2.1 Abstract          
 2.2 Stake Holders          
 2.3 Research Scope          
 2.4 Research Methodology          
  2.4.1 Data Mining         
  2.4.2 Data Analysis         
  2.4.3 Data Validation         
  2.4.4 Research Approach         
 2.5 Research Sources          
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions         
3 Market Trend Analysis           
 3.1 Introduction          
 3.2 Drivers          
 3.3 Restraints          
 3.4 Opportunities          
 3.5 Threats          
 3.6 Product Analysis          
 3.7 Application Analysis          
 3.8 End User Analysis          
 3.9 Emerging Markets          
 3.10 Impact of Covid-19          
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry          
5 Global Foundry Binders Market, By Product Type           
 5.1 Introduction          
 5.2 Inorganic Binder          
  5.2.1 Gassing         
  5.2.2 Heat Cured Sodium Silicate         
  5.2.3 Self-Set         
 5.3 Organic Binder          
 5.4 Heat Curing          
  5.4.1 Alkyd         
  5.4.2 Easter Cured         
  5.4.3 Furan         
  5.4.4 No-Bake         
  5.4.5 Phenolic         
  5.4.6 Silicone         
  5.4.7 Acrylic         
 5.5 Coldbox          
 5.6 Polyurethane 
 5.7 Phenolic Resole          
 5.8 Epoxy          
 5.9 Other Product Types          
  5.9.1 Hybrid Phenolic Epoxy         
  5.9.2 Alkaline Phenolic         
6 Global Foundry Binders Market, By Industry Structure           
 6.1 Introduction          
 6.2 Polyurethane No-Bake          
 6.3 Automated          
7 Global Foundry Binders Market, By Application           
 7.1 Introduction          
 7.2 Ferrous          
 7.3 Non-Ferrous          
 7.4 Chemical Industry          
 7.5 Resin          
 7.6 Paint          
 7.7 Ceramic          
 7.8 Other Applications          
8 Global Foundry Binders Market, By End User           
 8.1 Introduction          
 8.2 Mold Sand Casting          
 8.3 Core Sand Casting          
 8.4 Other End Users          
9 Global Foundry Binders Market, By Geography           
 9.1 Introduction          
 9.2 North America          
  9.2.1 US         
  9.2.2 Canada         
  9.2.3 Mexico         
 9.3 Europe          
  9.3.1 Germany         
  9.3.2 UK         
  9.3.3 Italy         
  9.3.4 France         
  9.3.5 Spain         
  9.3.6 Rest of Europe         
 9.4 Asia Pacific          
  9.4.1 Japan         
  9.4.2 China         
  9.4.3 India         
  9.4.4 Australia         
  9.4.5 New Zealand         
  9.4.6 South Korea         
  9.4.7 Rest of Asia Pacific         
 9.5 South America          
  9.5.1 Argentina         
  9.5.2 Brazil         
  9.5.3 Chile         
  9.5.4 Rest of South America         
 9.6 Middle East & Africa          
  9.6.1 Saudi Arabia         
  9.6.2 UAE         
  9.6.3 Qatar         
  9.6.4 South Africa         
  9.6.5 Rest of Middle East & Africa         
10 Key Developments           
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures          
 10.2 Acquisitions & Mergers          
 10.3 New Product Launch          
 10.4 Expansions          
 10.5 Other Key Strategies          
11 Company Profiling           
 11.1 BASF SE          
 11.2 Kao Corporation          
 11.3 Vesuvius          
 11.4 Eurotek Foundry Products Limited          
 11.5 Imerys          
 11.6 HA-International LLC          
 11.7 Ashland Global Holdings Inc.          
 11.8 Suzhou Xingye Foundry Material Co., Ltd          
 11.9 Hüttenes-Albertus Chemische Werke GmbH          
 11.10 Foseco (Foundry Service Company)          
 11.11 ASK Chemicals          
List of Tables            
1 Global Foundry Binders Market Outlook, By Region (2021-2030) ($MN)           
2 Global Foundry Binders Market Outlook, By Product Type (2021-2030) ($MN)           
3 Global Foundry Binders Market Outlook, By Inorganic Binder (2021-2030) ($MN)           
4 Global Foundry Binders Market Outlook, By Gassing (2021-2030) ($MN)           
5 Global Foundry Binders Market Outlook, By Heat Cured Sodium Silicate (2021-2030) ($MN)           
6 Global Foundry Binders Market Outlook, By Self-Set (2021-2030) ($MN)           
7 Global Foundry Binders Market Outlook, By Organic Binder (2021-2030) ($MN)           
8 Global Foundry Binders Market Outlook, By Heat Curing (2021-2030) ($MN)           
9 Global Foundry Binders Market Outlook, By Alkyd (2021-2030) ($MN)           
10 Global Foundry Binders Market Outlook, By Easter Cured (2021-2030) ($MN)           
11 Global Foundry Binders Market Outlook, By Furan (2021-2030) ($MN)           
12 Global Foundry Binders Market Outlook, By No-Bake (2021-2030) ($MN)           
13 Global Foundry Binders Market Outlook, By Phenolic (2021-2030) ($MN)           
14 Global Foundry Binders Market Outlook, By Silicone (2021-2030) ($MN)           
15 Global Foundry Binders Market Outlook, By Acrylic (2021-2030) ($MN)           
16 Global Foundry Binders Market Outlook, By Coldbox (2021-2030) ($MN)           
17 Global Foundry Binders Market Outlook, By Polyurethane (2021-2030) ($MN)           
18 Global Foundry Binders Market Outlook, By Phenolic Resole (2021-2030) ($MN)           
19 Global Foundry Binders Market Outlook, By Epoxy (2021-2030) ($MN)           
20 Global Foundry Binders Market Outlook, By Other Product Types (2021-2030) ($MN)           
21 Global Foundry Binders Market Outlook, By Hybrid Phenolic Epoxy (2021-2030) ($MN)           
22 Global Foundry Binders Market Outlook, By Alkaline Phenolic (2021-2030) ($MN)           
23 Global Foundry Binders Market Outlook, By Industry Structure (2021-2030) ($MN)           
24 Global Foundry Binders Market Outlook, By Polyurethane No-Bake (2021-2030) ($MN)           
25 Global Foundry Binders Market Outlook, By Automated (2021-2030) ($MN)           
26 Global Foundry Binders Market Outlook, By Application (2021-2030) ($MN)           
27 Global Foundry Binders Market Outlook, By Ferrous (2021-2030) ($MN)           
28 Global Foundry Binders Market Outlook, By Non-Ferrous (2021-2030) ($MN)           
29 Global Foundry Binders Market Outlook, By Chemical Industry (2021-2030) ($MN)           
30 Global Foundry Binders Market Outlook, By Resin (2021-2030) ($MN)           
31 Global Foundry Binders Market Outlook, By Paint (2021-2030) ($MN)           
32 Global Foundry Binders Market Outlook, By Ceramic (2021-2030) ($MN)           
33 Global Foundry Binders Market Outlook, By Other Applications (2021-2030) ($MN)           
34 Global Foundry Binders Market Outlook, By End User (2021-2030) ($MN)           
35 Global Foundry Binders Market Outlook, By Mold Sand Casting (2021-2030) ($MN)           
36 Global Foundry Binders Market Outlook, By Core Sand Casting (2021-2030) ($MN)           
37 Global Foundry Binders Market Outlook, By Other End Users (2021-2030) ($MN)           
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.            

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

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