should result in a further 5% increase in sales in 2017. However foundries serving the IGT market report a downturn in orders in the 4th quarter of the year.
Automotive Growth for European car sales has been steady in 2017 with a total of 1.19 million cars registered to date in the 28 countries of the European Union and EFTA, an increase of 3.2% on last year. This brings the year-to-date total to 9.56 million sales, up by 4% on 2016. Among the fi ve biggest mar- kets, Italy (+15.8%) and Spain (+13%) showed the strongest improvements, as France (+9.4%) and Germa- ny (+3.5%) also outgrew the market. Despite United Kingdom new car reg- istrations falling (-6.4%) strong exports are keeping production at a high level.
Commercial The market for commercial castings appears steady at present with growth of 3% anticipated this year.
Industry Prospects
Aerospace With the backlog of commercial aircraft orders at Airbus and Boeing still at record levels the expectation is that current production levels will be
maintained with a consequential high demand for castings.
IGT
European foundries supplying the IGT market report that the recent downturn in orders is likely to affect prospects for 2018.
Automotive The demand for quality vehicles shows no prospects of abating and as a result the European automotive industry will certainly benefi t with continued strong exports on top of domestic sales. Whilst overall European automotive is performing well there are some signifi cant differences being seen between individual manufacturers.
Commercial
Casting sales remain very competitive and it is anticipated that current growth levels will be maintained.
Summary European investment casting is set to deliver another strong result in 2017 with further growth across all sectors and led by the very strong European High Added Value segment. With the European economy per-
forming signifi cantly better than ex- pected this year propelled by stronger
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growth and falling unemployment, in- vestment is picking up resulting from the considerably brighter economic sentiment.
Accordingly favourable
conditions for investment casting com- panies can reasonably be anticipated.
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January 2018 ❘ 15 ®
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