Ferrous Metal Foundry Products in Canada - Industry Market Research Report

Ferrous Metal Foundry Products in Canada - Industry Market Research Report

Ferrous Metal Foundry Products in Canada

Canadian ferrous metal foundries sell iron and steel castings to manufacturing and construction industries. Buyers use ferrous metal foundry products in various industrial applications, including farm machinery, engines, turbines, power transmission equipment, automobiles and railways. Despite robust demand for ferrous metal foundry products, foreign competition from low-cost producers in China and India has increasingly challenged domestic companies. As a result of volatility in manufacturing and construction markets, revenue has faltered. Revenue contracted at an expected CAGR of 1.2% to $1.5 billion through the current period, including a 2.6% dip in 2023, when profit reached 3.9%. Declining steel and iron prices have contributed to poor performance in 2023.

Companies in this industry pour molten iron and steel into moulds of a desired shape to make castings. Companies purchase ferrous metal inputs from iron and steel manufacturers. This industry does not include companies that cast iron and steel they manufacture themselves.

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.