Compacted Graphite Iron (CGI) Market Size By Grade (300 MPa, 350 MPa, 400 MPa, 450 MPa, 500 MPa), By Product (Spheroid, Nodules), By Application (Automotive, Construction, Marine, Power Generation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Nov 2020  |  Report ID: GMI4866  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 225   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trend

Compacted Graphite Iron (CGI) Market size was USD 8.3 million in 2019 and will grow at a CAGR of 4.6% from 2020 to 2026. The demand for low emissions, high torque, and improved fuel economy in high-performance vehicles continues to grow rapidly. Engine designers in automotive component manufacturing companies are forced to seek sturdier materials for engine block construction.

The development of high tensile strength & lightweight properties, superior product design, and assistance in the production & assembly process for large volume production of diesel engine models will enhance the compacted graphite iron market demand. In addition, the strong potential of cast metal and its ability to offer superior performance compared to various other cast iron will further support industry growth.

Improvements in the vehicle fleet along with strong purchasing power among the middle-class demographics, particularly in the emerging regions, will induce the usage of lightweight materials.

Compacted Graphite Iron Market Outlook

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Vehicle manufacturers globally are developing technologies to reduce overall vehicle weight and improve fuel efficiency. Governing bodies across the world including the Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency have jointly developed a rule pertaining to the establishment of standards applying to supercars and other high-performance vehicles, especially with diesel engines.

Guidelines were set by these regulating bodies to improve the fuel economy from over 30 miles/gallon to almost 50 miles/gallon. These regulations can be attained from vehicle weight reduction and improved penetration of cast iron in vehicle engines. Currently, compacted graphite iron is a rising technology but holds a strong potential for use in the automotive and construction industries compared to grey cast iron and ductile iron.

Consistent R&D programs are carried out to reduce the processing time and cost of the products. Players are developing recovery systems to enhance product penetration across numerous end-use sectors. Repairing compacted graphite iron is another major issue faced by vehicle manufacturers, challenging the compacted graphite iron market growth. However, the development of suitable methods to improve the failure mechanism will reduce the impact over the coming years.

Proliferating the consumer demand for high-performance vehicles is another factor that will aid in product improvement. Furthermore, vehicles used in motorsports such as F1 racing, NASCAR, and world rally championship are positively impacting the consumers’ purchase decisions, which will drive the vermicular graphite iron business in the near future.

The major barrier in the compacted graphite iron market is the limited product penetration across various end-use industries. This is because CGI is a new development in cast iron technology. Furthermore, the spread of COVID-19 has also obstructed the growth of the product demand as it has decreased automobile sales and construction activities around the globe.

Compacted Graphite Iron (CGI) Market Report Coverage
Report Coverage Details
Base Year:2019
Market Size in 2019:8,342.2 Thousand (USD)
Forecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:4.6%
2026 Value Projection:9,195.5 Thousand (USD)
Historical Data for:2016 to 2019
No. of Pages:225
Tables, Charts & Figures:229
Segments covered:Grade, Product, Applications
Growth Drivers:
  • Growing adoption of lightweight automotive materials
  • Increasing regulations to minimize carbon emissions in vehicles
  • Rising demand for smoother and energy efficient engines
  • Growing trend for using super cars will boost demand
Pitfalls & Challenges:
  • Limited product penetration

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400MPa compacted graphite iron is estimated to become the dominant grade in the market

Compacted Graphite Iron Market by Grade

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400 MPa grade vermicular graphite iron dominated the grade segment with over 20% market share in 2019. This grade accounts for a major revenue share in the CGI market. Superior electrical properties, moisture resistance, lightness, and high tensile strength along with improved shelf life are among the key factors driving the grade demand.

Manufacturers are developing products with excellent fuel-efficient properties to improve usage in diesel engines. Product development with sustainable design improvement for engine applications will boost the compacted graphite iron market sales.

Spheroid-shaped CGIs are expected to attract major consumption by 2026

Spheroid-shaped CGI is expected to dominate the compacted graphite iron market segment with over 60% market share in 2026. The spheroid name comes from the spherical shape of the product. The round shape of the CGI enables it to get accustomed to mainly all types of engine components used in automobiles, construction equipment, power generating equipment, etc. The applications of spheroid cast irons pose benefits, such as improved handling, reduced acceleration time, fuel efficiency, and relatively smoother functioning.

Automotive applications are anticipated to bolster the consumption of compacted graphite iron by 2026

Compacted Graphite Iron Market by Application

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Automotive applications accounted for the largest market share and will exhibit a CAGR of over 4.5% by 2026. The utilization of compacted graphite iron in manufacturing engines improves their performance capabilities in conjunction with weight reduction. This provides reduced acceleration time, better handling, fuel efficiency, and relatively smooth rides. The major demand for the product is from luxury and supercar manufacturers.

The growth in their sales would lead to heavy CGI consumption. Luxury car sales have witnessed a considerable increase and spurred the demand for CGI. For instance, Jaguar Land Rover’s sales rose by 7% and witnessed sales of 621,109 vehicles in 2017. Rolls-Royce sold around 3,362 cars in 2017 across the globe, directly boosting the compacted graphite iron market sales across the globe.

Europe is likely to be among the foremost regional markets in the coming years

 Compacted Graphite Iron Market by Region

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The Europe market is expected to hold a revenue of over USD 2.5 million in 2026. The compacted graphite iron market in Europe is driven by the increasing the adoption of lightweight materials in the automotive industry. Stringent compliances by the EU to curb CO2 emissions are influencing automotive manufacturers to install lightweight cast iron materials in their vehicle engines. The Eastern Union countries and Russia are expected to gain demand for more luxury vehicles.

The compacted graphite iron industry is highly consolidated and competitive. The major players involved in the industry are Sintercast AB, Silbitz Group GmbH, Teksid Iron, Saguenay Foundry, Tupy SA, Waupaca Foundry, Durham Foundry, Atlas Foundry Company, Eisengiesserei Baumgarte GmbH, Hebei Jing County Jinli Casting, Inc., and ASI International, Ltd.

The compacted graphite iron market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD thousands from 2016 to 2026 for the following segments:

By Grade

·    300 MPa

·    350 MPa

·    400 MPa

·    450 MPa

·    500 MPa

By Product

·    Spheroid

·    Nodules

By Application

·    Automotive

·    Construction

·    Marine

·    Power generation

·    Others (metallurgy, manufacturing etc.)

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    •  U.S.
    •  Canada
  • Europe
    •  Germany
    •  UK
    •  France
    •  Spain
    •  Italy
  • Asia Pacific
    •  China
    •  India
    •  Japan
    •  Thailand
    •  Australia
  • Latin America
    •  Brazil
    •  Mexico
  • MEA
    •  Saudi Arabia
    •  UAE
    •  Kuwait
    •  South Africa


Frequently Asked Questions (FAQ) :

The global compacted graphite iron industry share accounted for USD 8.3 million in 2019 and is set to flourish at 4.6% CAGR through 2026 driven by the rising demand for high torque, low emissions coupled with improved fuel economy in high-performance vehicles.
Spheroid-shaped CGI is projected to hold over 60% of the global compacted graphite iron industry share owing to its benefits like reduced acceleration time, improved handling, relatively smoother functioning, and fuel efficiency.
The automotive applications are likely to exhibit over 4.5% CAGR through 2026, propelled by the surging use of CGI in engine manufacturing, which improves the performance capabilities in conjunction with weight reduction.
Europe compacted graphite iron market revenue is estimated to surpass USD 2.5 million in 2026, attributed to the rising adoption of lightweight materials like CGI in the automotive industry along with the stringent compliances by the EU to curb CO2 emissions.

Premium Report Details

  • Published Date: Nov 2020
  • Pages: 225
  • Tables: 210
  • Charts / Figures: 19
  • Companies covered: 17
  • Countries covered: 17

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