Industry Forecast
European Report
2021 European Investment Casting Market Outlook Forecast
by Carlos Olabe, Executive Director, European Investment Casters’ Federation Preface
pandemic year. Vaccinations have already been initiated and the idea of overcoming the crisis and achieving recovery was strong. However, the expected rebound finally has manifested uneven, across market segments, as the continuation of the pandemic and new post pandemic factors have come into play such as logistics issues and shortages. A complicated year for the
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Investment Casting Industry with the High Added Value market segment on the slow path recovery as Commercial Aerospace was still affected for travel restrictions due to the pandemic and a more common adoption of digital communications on business relationships.
1. Overall Market Evolution The overall recovery of the European Investment Casting market outcome is estimated by this forecast in +11.77%, nearly double the average GDP growth of the economy in Europe. This differential evolution put in evidence the high dynamics of the Investment Casting industry, although as identified later into this report, this recovery has manifested differentially among the market sectors. When considering the importance of Commercial Aerospace (in the order of magnitude of half of the market) it is clearly understood how relevant its evolution is to the European Investment Casting Industry. Automotive, another relevant market segment behaved on a sustained path of recovery until the end of September where the effect of
16 ❘ January 2022 ®
s the year 2021 was starting, a lot of expectations were rising identifying it, as the post-
shortages on semiconductors have affected the demand on components and parts as the output for automakers have to be adjusted.
2.0 Market Segments Review
2.1 High Added Value This market segment historically has been representing about 75% of the
overall Europe IC market output. The segment is divided into three
subsegments: Commercial Aerospace, Defence Aerospace and Industrial Gas Turbines. The behavior in respect of IC component sales have been uneven among those. Whilst the Defence Aerospace drop experienced in 2020 has been closely recovered in 2021(+15%) and a good recovery has been
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