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India


On the aggregate, the General Industry market sector is the primary Indian investment casting market with over 80% of the castings produced in India. Forecasts suggest increased casting sales of 1 to 2% this year. When comparing the rate of Indian production in 2020 to the same month in 2019, a relatively steady decline is exhibited. General industry sub-sector, such as Pumps & Valves and Transportation, fell far below expectations. Castings sales will remain extremely competitive with lower levels of demand and output in 2021. There are approximately 200 investment casting foundries, primarily in the western part of India. Alloys cast are carbon & low alloy steels, 400 series stainless steel, 300 series stainless steel, cobalt based alloys, nickel-based alloys. A lot of these general commercial investment castings are exported through various channels primarily in Europe & US. Development of commercial investment


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casting foundries in India offers competition to neighboring nations. The other applications segment such as Bio-medical experienced a slowdown in 2020. Additionally, due to Covid-19 there is rising labor shortage and environmental pressures also have been the problems.


Defense & Aerospace


In order to meet demand of aviation industry for high value-added castings, aero-engine foundries continue to expand scope of casting production. Currently all investment casting foundries producing castings related to aerospace, defense and nuclear power are state-owned. Indian foundries in this category are now developing advanced superalloy investment cast parts with superior metallurgical quality, yield and engine performance. Indian produced investment castings serving aerospace, defense and nuclear power


sectors together is about 6% of the total investment castings produced in India. Looking forward to 2021, the market for aerospace components will grow with increasing demands on improving quality of castings.


Summation In summary, General industrial, commercial castings sales accounted for the majority of the growth experienced, while automotive and defense exhibited moderate growth. The Oil & Gas sub- sector is in a state of decline and is expected to have some collateral effect on other General Industry sub-sectors in 2020.


Overall, it is estimated that 2020


Indian investment casting sales realized approximately 1-2% growth from 2019 levels. Indian economic uncertainties & prevailing business conditions for industry remain unpredictable.


January 2021 ❘ 23


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