European Report
relevance due to reshoring, cost competitiveness, and investment in capacity and training.
6. Strategic Outlook
The European Investment Casting industry stands at a crucial juncture. The 2024 performance confirms its resilience, adaptability, and strategic relevance—yet the industry must remain proactive and forward-looking to maintain competitiveness. Key imperatives include:
• Currency-aware pricing and forecasting: Continued monitoring of EUR/USD volatility is essential to avoid misjudging growth or competitiveness.
• Petrol cars remain dominant but are steadily declining The IC industry must recognize this
decline as structural rather than cyclical, prompting a reassessment of product portfolios and customer focus. Strategic responses include: • Pivoting toward EV-compatible castings such as battery housings, heat sinks, and power electronics enclosures
• Diversifying into non- automotive sectors
• Pursuing niche high-performance ICE markets (e.g., motorsports, heavy-duty vehicles)
4. Other Applications The Other Applications segment—
valued at USD 386.2 million, up 1.86%—is composed of diverse but increasingly strategic subsegments: • General Engineering • Medical and Biomedical • Food Processing Equipment • Oil & Gas • Non-Aero Defence Components
this segment offers flexibility, margin stability,
While smaller in total share, and regional
balance. ® It
benefits from reshoring initiatives, higher awareness of supply chain risks, and an expanding demand for precision parts in high-compliance sectors like healthcare and food.
Smaller foundries across Southern
and Central Europe are especially well- positioned to grow in these applications due to their agility, cost-effectiveness, and proximity to end users.
5. Regional Highlights Regional dynamics in 2024 remain
broadly consistent, though new growth centres are emerging: • United Kingdom: Dominates in aerospace-related IC production, leveraging strong ties with Rolls- Royce, BAE, and Airbus UK.
• Germany: Automotive casting remains important but under pressure; increasing focus on IGT and industrial diversification.
• France: Strengthening its aerospace and defence industrial base, with notable R&D emphasis on next-gen programs.
• Southern and Eastern Europe: Including Spain, Czech Republic, Poland, and Italy— these countries continue to gain
• Decarbonization: Alignment with EU Green Deal objectives and investment in energy efficiency and waste reduction are essential.
• Technological leadership: Prioritize additive manufacturing, digital twins, simulation, and advanced alloy processing. • Workforce development:
Addressing the skills gap in foundry operations, metallurgy, and process control is increasingly urgent.
• Strategic alliances: Closer collaboration with OEMs, universities, and research institutes will accelerate innovation and market access.
Conclusion
2024 has been a year of measured advancement and strategic clarity for the European IC sector. While Commercial Aerospace and IGT continue to lead growth, and Other Applications offer welcome stability, the Automotive segment’s decline is a call for reinvention. The industry's ability to respond to economic signals, currency shifts, and technological disruption—while staying aligned with strategic European priorities—will define its future role. Through foresight, innovation, and collective action, Investment Casting in Europe is not only enduring—but evolving with purpose.
April 2025 ❘ 33
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