2017 Forecast: Most Markets to See Small Gains
A MODERN CASTING Staff Report
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U.S. metalcasting industry sales are expected to reach $32.3 billion in 2019, according to the 2017 Metalcasting Forecast and Trends report published by the American Foundry Society, (Schaumburg, Illinois). This total shows the industry is recovering from the dramatic recession that began at the end of 2008 and continued through the first part of 2010. The industry bottomed out at $21.6 billion in shipments in 2009 at the depth of the recession. The industry began to rebound in 2010 with an estimated growth of 18% from the previous year to $25.46 billion, and this continued in 2012, when sales reached $31.19 billion.
Sales have flattened in the last two years but sales should return to the over $31 billion mark by 2017.
Almost all metals are forecast to grow between 1% and 4% from 2016 to 2019, and all metals are predicted to show annual growth up to 2.5% through 2025.
The U.S. metalcasting industry is made up of 1,956 facilities, down from 2,380 in 2005. This reduction can be attributed to the recession, technological advancements, foreign competition and tightening regulations. Industry capacity is 15.3 million tons with the industry forecast to operate at 75% of capacity in 2017.
Based on the data secured through the “2015 Annual Census of World Casting Production” by Modern Casting magazine, China shipped 45.6 million metric tons of castings in 2015 compared to 10.77 million metric tons by India and 10.4 by the U.S. Following the U.S. and India are Japan (5.4 million metric tons), Germany (5.3), Russia (4.2), Brazil (2.3), Korea (2.63), Italy (2.03) and Turkey (1.85).
This data is an estimated forecast based on an economic modeling tool and should be used only as an estimate. AFS cannot be held liable for its accuracy.