US industrial castings demand to reach nearly $35 billion in the year 2006.
Maintaining established trends, nonferrous castings as a whole will continue to grow at a faster pace than ferrous types for the foreseeable future, although products with above-average growth potential exist in both segments. These include steel investment castings and compacted graphite iron castings (presently a very small market) on the ferrous end, and castings made from high-performance metals such as titanium and superalloys on the nonferrous side. Foundry products demand as a whole will also benefit from improvements in near-net shape technology, which minimizes machining and finishing requirements and thus lowers overall costs. More advanced foundry processes such as die casting and investment casting hold particularly good prospects along these lines.
Foreign trade has become an increasingly serious bone of contention for US-based castings suppliers in recent years, as imports from low-cost producing countries have flooded into the country, some allegedly dumped at below production costs. The US has watched a fairly sizable (in absolute terms, not as a share of total business) trade surplus in castings virtually disappear in less than a decade. Direct foreign trade in unfinished castings is not extensive as a share of total supply and demand, although official figures (where available) significantly understate the true extent of foreign-built castings that come into the US market as components of finished products.
Industrial Castings (published 02/2002, 182 pages) is available for $3,600 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail email@example.com. Information may also be obtained through www.freedoniagroup.com.
A limited license to use or reprint information from this news release is granted to you provided attribution for same -- including, if possible, the price of the report -- is given to The Freedonia Group, Inc. (Cleveland, OH). We would also appreciate the courtesy of receiving a copy of the article or publication in which we appear.
INDUSTRIAL CASTINGS DEMAND (million dollars) % Annual Growth Item 1996 2001 2006 01/96 06/01 Casting Sales 26276 27790 34700 1.1 4.5 Ferrous 15879 16075 19800 0.2 4.3 Nonferrous 10397 11715 14900 2.4 4.9 net exports 173 5 -75 -- -- Casting Shipments 26449 27795 34625 1.0 4.5 [c] 2002 by The Freedonia Group, Inc.
|Printer friendly Cite/link Email Feedback|
|Comment:||US industrial castings demand to reach nearly $35 billion in the year 2006.|
|Publication:||Research Studies - Freedonia Group|
|Article Type:||Brief Article|
|Date:||Feb 20, 2002|
|Previous Article:||US food container demand to reach $12.6 billion in the year 2005. (News Release).|
|Next Article:||World asphalt demand to reach 105 million metric tons in the year 2005.|