OVERVIEW OF THE WORLD METAL CASTING MARKET FROM THE BEGINNING OF THE 21ST CENTURY AND ITS FORECAST MODELING UNTIL 2030

Procesi littâ, 2024, Vol 4 (158), 72-79

Abstract

Foundry production, as one of the oldest processes of forming metal structures, developed together with industrial revolutions, serving not only as a basis for the production of machines and mechanisms, but also as an indicator of technological achievements of its time. This process has become critically important for the creation of building and decorative structures, metal equipment,
tools and in many other areas. The article provides an overview of the world metal casting market since the beginning of the 21st century and its predictive modeling until 2030. From the early 2000s to 2018, the global foundry industry showed steady growth in production, interrupted by two phases of apparent stagnation from 2007 to 2010 and, at a much higher level, from 2014 to 2016. Then there was a slight decrease in production in 2019-2021. An up-to-date assessment and analytical modeling based on a macroeconomic review of individual sectors related to the foundry industry, considering geopolitical and technological assumptions, was published by the well-known analyst G-Yu. Buchner together with colleagues from IKB Deutsche Industriebank. This modeling is illustrated by charts of castings output by key regions up to 2030. Current and future challenges and prospects include the following factors. High electricity costs remain an aggravating factor for Europe’s foundry industry. The path to the desired climate neutrality entails significant investment for industry and also requires energy conservation impulses. Constant digitization and development of artificial intelligence, scientific and technical achievements in the foundry industry create both technological challenges and opportunities for optimizing production. Some of the consumer industry is moving to other regions, but a number of new markets, particularly in Asia, are also offering new foundry supply opportunities.