Industry Forecast
European Investment Casting Market Review 2018
by Carlos Olabe, EICF Executive Director T
he European Union economy grew 1.9% year-on-year in the third quarter of 2018. However
investment casting is giving a strong performance in 2018 above those GDP values. Reports indicate a gain of 4.4% over 2017, resulting in an estimated total sales value of USD 3.48 Billion. Market segments addressed in the
study are as per end user application: • High Added Value – Aerospace – Industrial Gas Turbine (IGT)
• Automotive • Other applications Most market sectors are
demonstrating good performance levels with the High Added Value segment particularly strong. However IGT performance continued to exhibit decline from the 4th quarter of 2017 with no recovery in 2018.
European Market Share 2018 Market shares in European Investment Casting remain unchanged with the UK continuing at around 50% of sales, with overall revenue USD 3,484 Million. The strong growth of the High
Added Value sector continues driven by Aerospace applications, resulting in an average 5% growth. The automotive sector performed well again in 2018. Commercial casting sales showed a slight improvement vs previous year.
Europe Market Segments by Country The share of market segments is shown in Figure 3 for the most significant countries. Once again, the UK takes the lead in High Added value components and Germany takes the lead in Automotive as corresponds with the national industry profile.
Europe Market Segments Aerospace The commercial aircraft environment remains very strong in 2018 with
20 ❘ January 2019 ® Figure 2: Europe Investment Casting Market Shares 2018
Boeing’s increasing new orders earning market share over Airbus. • Airbus backlog at the end August 2018 is 7,415 aircraft representing nearly 10 years of production at its current pace
• Boeing & Airbus are driving output increase programmes, representing a challenge for the supply chain, in this case the foundries
Industrial Gas Turbines - IGT Sales of industrial gas turbines have fallen since last quarter of 2017, under pressure from low-cost renewable energy. The year 2018 has not corrected the effect seen in 2017. • Manufacturers are battling to improve efficiency, to cut the cost of gas-fired power
• The world is switching to renewable
Europe Report
Figure 1: European Investment Casting Sales 2018.
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