Nonferrous Metal Foundry Products Manufacturing in the US
The Nonferrous Metal Foundry Products Manufacturing industry produces cast metal components used as intermediaries in the production of many household and industrial products. As lighter alternatives to iron and steel, nonferrous metal castings can replace their ferrous counterparts in applications where weight is important, such as in motor vehicle and aircraft manufacturing. Accordingly, automotive- and aerospace-related industries are the largest markets for industry products. As a result, demand from automotive-related industries increased over the five years to 2019, thus boosting industry sales. In addition to downstream demand, the industry is greatly influenced by changes in nonferrous metal prices, since foundries purchase, process and resell these metals. The industry will continue to globalize and consolidate to meet the mounting needs of its customers over the five years to 2024. Stable downstream demand will support rising global prices for nonferrous metals, which will support modest growth in industry revenue.
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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