New cast: Investment into producing electric vehicles will be a boon to foundries
Nonferrous metal foundry product manufacturers have faced considerable declines over the current period despite climbing nonferrous metal prices. Lower downstream demand from key markets compounded by labour shortages forcing foundries to hike wages has subdued profit. Foundries have increasingly focused on producing value-added alloys cast into complex and precise designs as the production of generic and standardized castings has moved offshore. Industry-wide revenue has been growing at a CAGR of 9.5% over the past five years and is expected to total $1.5 billion in 2023, when revenue will drop an estimated 3.9%.
The Nonferrous Metal Foundry Product Manufacturing industry in Canada primarily melts and pours nonferrous metals into moulds 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, nickel and titanium.
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's key players and their market shares.
Table of Contents
Methodology
LOADING...
