Industry Forecast
North American Report
North American Investment Casting Performance and Outlook
By Joseph E. Fritz, Executive Director - Investment Casting Institute Preface T
he following analysis has been prepared from data provided by industry customers, published
reports, government and industrial databases and foundries throughout North America. Using this data, two perspectives of the market are developed, a supply-side and a demand-side perspective. In most instances, both perspectives were in agreement, but there were a few isolated cases where adjustments were made due to conflicting points of view. For market segments lacking foundry data for substantiation, the demand-side analysis was used.
Regarding data used from third
party sources, none reflected actual end of year figures as the majority of these sources published reports in the fourth quarter or late third quarter. For this reason, the data represented in this report are best estimates. This report will be updated as actual year- end data becomes available and will be presented at the Business and Leadership Development Conference taking place in Santa Fe, New Mexico in April.
It should be noted that for the past
several years, market performance and forecasts have been prepared in constant dollars to show actual growth without selling price inflation. Hence, trends represented in this report represent growth or decline in volume. This year, the ICI plans on undertaking a detailed study of the North American Market to reestablish a new baseline from which future reports will be adjusted to reflect sales volume in 2023 dollars.
10 ❘ January 2024 ®
2023 Overview When comparing last year's analysis to estimated 2023 performance, anticipated trends continued as forecast, but not at the same magnitude. Estimated growth in the Aerospace sector is 22.6% over the prior year’s performance. Last year’s
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