Industry Forecast
China Report
Investment Casting Market in Mainland China in 2021
by Zhigang LU, Tsinghua University and Yun ZHANG, Investment Casting Branch of China Foundry Association
effective measures to control the spread of the epidemic by early detection of infection sources and rapid response to control the spread of new infections, and achieved good results. In addition, more than 1.2 billion people have received full vaccination against COVID-19, with a vaccination rate of over 85%, forming a good barrier against the epidemic. Thanks to the joint efforts of the Chinese people, production and life have returned to normal and the economy has recovered to some extent in China.
F As an important part of the world
economy, China’s economic recovery is good news for the whole world. According to statistics, China’s GDP in the first half of 2021 was 53.21 trillion RMB yuan, an increase of 12.7% year- on-year at comparable prices. Some institutions forecast that China’s GDP growth will exceed 8% in 2021. The statistics also showed that from January to November, the added value of China’s industrial production increased by 10.1% year-on-year. Manufacturing grew by 10.4% compared with the same period in 2020. Figure 1 shows the change in the growth rate of industrial added value above designated size in China.
The economic recovery has created
a good condition for investment casting production and market demand expansion in China. According to an industry survey, it is estimated that investment casting output value in mainland China in 2021 will reach 3.318 billion US dollars, up 17.5% from 2020, reaching a new output peak
20 ❘ January 2022 ®
Figure 1: Growth rate of industrial added value above designated size in mainland China in 2021.
acing the global challenge of COVID-19, the Chinese government took positive and
Figure 2: Number of civil aircraft introduced in recent 5 years.
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