Industry Forecast S
ales for the global investment casting industry in 2019 are forecast to reach almost US$14.35B. This represents an increase of 1.1% compared to 2018, continuing the upward trend of total world investment casting sales. However, the overall growth is at a lower level than has been experienced in the previous six years.
It should be
noted that again, the demand for High Added Value castings for the buoyant commercial aircraft market is the main driver for this growth. The Industrial Gas Turbine market experienced some growth in the year, mostly in the US market. The global Automotive market experienced a decline in sales overall, with the US sales flat for 4 consecutive years and with Europe and Asia experiencing a notable reduction in sales in 2019. The Other Markets sector was down in all regions except for a small increase in the US market. As previously noted, the overall
World investment casting sales in 2019 grew by
approximately 1.1%.
The above graph demonstrates that the increase in World sales was attributed to contributions from North America and Europe, with the US experiencing 4.3% growth overall, Europe 2.1%. Whereas China experienced a reduction of 3.8% and Asia a reduction in sales of around 3.4%.
Sales to sectors transcending the
regions North America, Europe, China, Asia and Other demonstrates the growth in the High Added Value casting sector and the reduction in the Automotive and Other Markets sector. This further demonstrates the continued importance of High Added Value castings to the industry. For 2019, North America contributes
42% of sales, Europe 25% of sales, China 20% of sales, Asia 10% of sales and Others 3% of sales. The North American contribution to total sales increased from 41% and China decreased from 21% over 2018 results. The continued dominance of the
8 ❘ January 2020 ®
World Report World Investment Casting Market Review 2019 by Ronald Williams Managing Director, Matthew Williams Business Development Director, The Blayson Group Ltd
High Added Value sector is illustrated in the following graphs with this sector making up 60% of total global casting sales.
Aerospace The commercial
Aerospace industry
remains buoyant with a considerable order backlog for both Boeing and Airbus with further growth experienced in all regions. Concerns remain over
the impact the 737 MAX grounding and production suspension may have on the industry.
Industrial Gas Turbines The World market for Industrial Gas Turbine casting sales was stable during 2019 at its new lower level, sales in North America showed some growth over 2018 but remain at a lower level than pre 2007.
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