China Report
Figure 4: Total Output Value of Investment Casting in Chinese Mainland
Figure 3: The Output Value of General Commercial Castings in Chinese Mainland
Figure 3 shows the changes in the output value of general commercial castings since 2017. Among general commercial casting enterprises, those
Figure 5: Variation of Investment Casting Output Value in Chinese Mainland
production and sales exceeding 13 million units in 2024 and the number of new energy vehicles in use reaching 31.4 million. Figure 2 shows the changes in the production of new energy vehicles. Low-carbon economy is the strategic choice for China's economic development, and new energy vehicles, supported by policies, will further increase their proportion.
General Commercial Casting Among investment casting enterprises in mainland China, those producing general commercial castings is the largest, primarily consisting of private enterprises. After more than 30 years of development, a complete industrial system has been formed, serving the international market and providing investment castings that meet customer demands for global manufacturing. The market for such castings fluctuates with changes in the international economic and political situation. Besides the demand itself, factors such as international trade tariffs and exchange rates are also significant influences. The output value of this type of castings in Chinese mainland has continuously declined for two years. In 2024, it decreased by 3.7% compared to 2023, reaching 2.02 billion US dollars.
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with high technical and management levels and a certain scale have strong risk resistance capabilities and can still maintain growth, but the output value of small and medium- sized enterprises has decreased significantly. From the perspective of product categories, due to the contraction of the real estate industry, the production of hardware and tools related to construction has dropped significantly. Affected by the petroleum and chemical industries, the market for valve castings has also declined. The demand for castings in the consumer fields such as food machinery and cookware is increasing. To cope with the challenges of business operations and the overseas market, some enterprises have begun to set up factories in Southeast Asia and South America. Combining the above three segments, investment casting industry in Chinese mainland is projected to grow by 1.33% from 3.536 billion US dollars in 2023 to 3.583 billion US dollars in 2024. Figure 4 shows the output value of investment casting in Chinese mainland since 2018. Figure 5, on the other hand, presents the output value of different segments.
Raw and Auxiliary Materials And Equipment China has a complete supply chain for investment casting, including raw and auxiliary materials, equipment, software services, etc. Relevant enterprises have also increased their investment in research and development. Technological progress in related fields has played an important role in the overall progress of China's investment casting. We have tallied 46 representative enterprises, among which 16 have an annual output value of over 15 million US dollars. The overall annual output value of these enterprises has increased by 6.1%, with exports growing by 17.6%, mainly targeting the Southeast Asian market. It is very difficult to predict the situation in 2025. The
changes in overseas markets remain hard to fathom, and the increase in uncertainties will surely have a certain impact on the casting market. In contrast, under the impetus of the Chinese government's policies to boost domestic demand, the domestic market is expected to develop positively.
April 2025 ❘ 37
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