Iron Casting in the UK - Industry Market Research Report

Cast out: Weak manufacturing activity has been eating into sales of iron castings

The Iron Casting industry's revenue is set to contract at a compound annual rate of 0.3% over the five years through 2023-24 to £577.7 million, including a forecast fall of 0.5% in 2023-24. The market for iron ore has been highly volatile, with supply chain disruptions at the height of the COVID-19 pandemic propelling the price of iron upwards, inflating casting companies' purchase costs and, to a lesser extent, revenue (through them passing some of the cost increases on). Price rises have yet to abate, with climbing steel manufacturing activity in China pushing up iron ore orders, causing iron prices to spike in 2022 and 2023. The industry was also hit by weak manufacturing activity after COVID-19 hit, given manufacturers make up the bulk of iron casting sales.

Companies in this industry operate iron foundries, which produce iron products through a process called casting. This involves pouring molten ferrous metals into moulds.

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.