Nonferrous Metal Foundry Products Manufacturing in the US
Demand for products made by the Nonferrous Metal Foundry Products Manufacturing industry from the automotive sector weakened considerably in the latter half of the five years to 2018, thus dampening industry sales. In addition to downstream demand, the industry is greatly impacted by changes in nonferrous metal prices, since foundries purchase, process and resell these metals. The prices of aluminum and other nonferrous metals have fluctuated wildly over the past five years, tumbling in 2013 and 2015 before surging in 2017. This price volatility, in combination with higher wage costs, has led to declines in average profit margins over the past five years. The industry will continue to globalize and consolidate to meet the mounting needs of its customers over the five years to 2023. Growth in downstream demand will support rising global prices for nonferrous metals, which will help raise industry revenue. To further reduce vehicle weight and increase fuel efficiency, the automotive and aerospace industries will continue to seek lighter components made from nonferrous metals.
This industry primarily melts and pours nonferrous metals into molds of a desired shape to make castings. The castings are made from purchased metals or in integrated secondary smelting and casting facilities. The main nonferrous metals the industry uses are aluminum, copper, magnesium, titanium and zinc.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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