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Industry Forecast


Europe


European Market for Investment Castings – 2020 Forecast


by Carlos Olabe, Executive Director, European Investment Casters’ Federation


ollowing the editorial calendar established for INCAST, January is the issue planned to analyze the market for investment castings evolution. Traditionally the way this is presented is by putting forward a forecast in which the projection of the market evolution has been showing as a follow up, due to the steady development of the market segments. However, 2020 has represented a deep and significant


F


trend shift due to the impact of the pandemic into the social aspects of our lives, that have affected mobility so much and the behavior of many sectors and industries resulting in an unprecedented sudden fall down of demand. In the month of October the EICF presented a forecast based on a study made at the time, following a selected dialogue with some foundries and the reports coming out from end users. The forecast presented in this article is based in that study with some updates as per year end evolution. The EICF is launching in the present month of January a market survey among members in


16 ❘ January 2021 ®


order to improve the sensitivity of the existing market studies. The European overall IC Market has been experimenting


a sustained growth since 2010 until 2019 at a CAGR of 5,3 %, totalizing a figure of 3,557 MUSD being Commercial Aerospace and Automotive the Market segments main contributors to the sustained growth. The overall European IC Market 2020 forecast shows a


decrease of 28.5 % (YoY) vs the year 2019 with an estimated forecast of 2,541 MUSD which represents a regression to figures of the year 2011. Market segments established by the study are: • High Added Value (Aerospace + IGT) • Automotive • Other Applications The evolution on the Market segments is displayed in


Figure 2. With these forecasted 2020 Market segment figures, Automotive experiments a regression to levels of 2010, whilst


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