Industry Analysis & Industry Trends
China has grown to be the largest production base for iron and steel casting in the world. By volume, China's annual casting output has been the highest in the world for the past seven years. China produced 16.3 million tons of castings in 2002, equal to the United States' and Japan's combined output. This increased steadily to 33.5 million tons in 2008. ACMR-IBISWorld forecasts that China's casting output will total 46.6 million tons in 2011. This increase in output is expected to drive annualized revenue growth of 30.9% over the five years through 2011. The rapid development of the domestic economy stimulated industry demand, which caused revenue to increase rapidly. In the next five years, industry revenue is forecast to grow by an annualized 9.7%, to reach $137.6 billion in 2016.... purchase to read more
Industry Report - Industry Locations Chapter
Jiangsu Province, Liaoning Province and Shandong Province are the three largest manufacturing bases for casting products in China, accounting for an estimated 15.7%, 14% and 11.3% of industry revenue, respectively, in 2011. The development of the automobile and machinery manufacturing industries and the construction industries has contributed to the industry's development in these three provinces. After many years of strong and steady development, Shandong province has focused on promoting several casting industry clusters, and now accounts for approximately one-third of total casting output in China. The development of downstream industries in Liaoning province, especially the Automobile Manufacturing industry, generates large demand for casting products... purchase to read more