Ferrous Metal Foundry Products in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Pedal to the metal: Strengthening transportation and construction markets will likely drive demand for industry products

An array of downstream industries in the manufacturing and construction sectors use ferrous metal foundry products. These markets have strengthened at the start of the current period as strong consumer spending and an accommodative lending environment encouraged industrial activity. Fluctuating raw material prices, though, have contributed to a rising level of revenue volatility. Also, the industry has recently struggled to maintain growth and profit during the systematic shock to economic activity and global trade stemming from the pandemic. Overall, the industry will weaken at a CAGR of 4.2% to an expected $17.6 billion through 2023. Rising interest rates will keep the industry depressed, attributing to a projected 5.1% slump in 2023.

Companies in this industry pour molten iron and steel into molds of a desired shape to make castings. Companies purchase ferrous metal inputs from iron and steel manufacturers. The 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.