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Figure 3: Monthly auto sales in mainland China in 2020


Figure 4: Sales of new energy vehicles in mainland China


Figure 5: Output value of investment casting in mainland China


casting exports declined significantly, while the domestic automobile market showed a good trend, with a growth of more than 10% in the second half. For the full year, the overall automotive casting market fell 5 percent to $333 million.


Compared with the overseas market,


China’s auto market is very active, as shown in Figure 2. Although sales have fallen in the past three years, they remain high level. In particular, in 2020, against the backdrop of the impact of the epidemic, the market is recovering rapidly and annual sales are expected to reach 25 million units. Figure 3 shows the monthly statistics of auto sales in 2020, and it can be seen that the recovery was obvious in March and April. It is worth noting that in recent years, China’s new energy vehicles have enjoyed a good development momentum, as shown in Figure 4. New energy automotive has certain influence on the structure of casting market.


®


Figure 6: Output value variation of three types of castings


General Commercial Casting The general commercial castings in mainland China are mainly exported. After 30 years of development, a complete production and trade system has been formed, providing a large number of high-quality castings for the world. The epidemic in 2020 had a significant impact on the market, with exports dropping by about 30% in the first half of the year, but recovering quickly in the second half. According to the statistics of the whole year, valves and machine parts overall dropped, while hardware castings increased substantially. The decline in overseas markets was offset by the increase in domestic orders for general commercial castings. In the end, output fell 8% to $1.79 billion. Overall, the total output value of


investment casting in mainland China in 2020 was $2.822 billion, down 3.7% from 2019, as shown in Figure 5. Among the three types of castings, the


high value-added castings kept growing consistently, as shown in Figure 6. The output value of high value-added castings increased to 25% of the total output value. For the coming year, the global epidemic situation remains the biggest


uncertainty. In addition, protection, the


level of market opening, labor cost, environmental


exchange


rate fluctuations are still challenges that enterprises need to face. Opportunities and challenges often coexist. From the current situation, the Chinese government has taken active and effective measures to deal with the epidemic,


made greater efforts to


expand the domestic market, and the technology and strength of investment casting enterprises have been further improved. It is foreseeable that the investment casting industry in mainland China will enter a channel of recovery and growth.


January 2021 ❘ 25


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