Nonferrous Metal Foundry Products Manufacturing in the US - Industry Market Research Report

Nonferrous Metal Foundry Products Manufacturing in the US - Industry Market Research Report

Nonferrous Metal Foundry Products Manufacturing in the US

The Nonferrous Metal Foundry Products Manufacturing industry produces cast metal components used as semi-finished goods 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 in which weight is important, such as in motor vehicle and aircraft manufacturing. Accordingly, automotive and aerospace-related industries are the largest markets for foundry products and hold authority over the health of metal foundries. The COVID-19 (coronavirus) pandemic caused global travel and consumer spending to fall abruptly in 2020. Effects from the pandemic, including global supply-chain shortages and suppressed purchases from downstream manufacturing, significantly hurt revenue generation for nonferrous metal foundries. Industry revenue has decreased at a CAGR of 3.1% to $13.6 billion over the years to 2023, including a decrease of 0.8% in 2023 alone.

The Nonferrous Metal Foundry Products Manufacturing 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.