Industry Forecast Continued from pg 17
are strong but it is essential a prompt resolution on the semiconductors supply shortages. In addition, electric cars or alternate powered vehicles continuing their advance and are becoming adopted more and more by the European society in line with the EU policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. The application of Investment Casting solutions for automotive have to be revisited by the Investment Casting foundries in order to identify new opportunities in these new power applications preserving the competitive advantages that the IC brings along.
2.3 Other Applications The segment Other Applications is a miscellaneous category which incorporates subsegments such as General Engineering, Defence, Oil & Gas, Bio Medical and Commercial parts. This segment was the less affected by the pandemic effects and it can be considered as fully recovered in 2021 (+2.4%). In addition, some of the logistics issues brought along by the pandemic have reinforced the segment as a significant number of parts have been reshored and the reshoring policy is much more present A summary with the evolution of
the three Market segments is included in the graphs. 2019 Market figures are also included as baseline reference.
3. Sales by Regions The evolution of Sales by region within Europe do not present a different landscape than the usual, with the UK dominating the overall market share and also leading High Added Value applications. Germany dominates the Automotive market segment and a solid balance of presence in the three market segments whilst France second in High Added Value applications and also with a good balance in the other segments. The remaining 20% corresponds to the integration of countries like Holland, Sweden, Finland, Belgium, Spain,
18 ❘ January 2022 ®
European Report
Czech Republic, Slovakia, Hungary, Turkey, Poland, Serbia, Italy, Ireland, Switzerland, and Portugal where the European Investment Casting industry is present.
4. Corollary The expectations for a prompt recovery associated to 2021 have been partially achieved in some market segments, whilst it was initially recognized that Commercial Aerospace was bound to take longer. What it was not anticipated was the so-called post pandemic effects with logistic issues, shortages and electricity costs peaking, that have also affected the competitiveness of the European Investment Casting foundries. Prospects for the future business development are strong significantly
into Commercial Aerospace although it might take some time to materialize. Some clouds appear in the horizon for automotive whilst the remaining segments continue to present good and solid path of growth. Again, policies on energy are determinant to create a balanced scenario. Although there might be too many
questions for the available answers it is time to project the future and revisit or reformulate companies strategies in consistence with all the shifts and changes the Covid experience has brought along and we encourage companies to do so in order to preserve their competitive position.
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