Striking while hot: Rising industrial production and construction activity will fire up industry demand

Domestic manufacturing activity has mostly climbed since 2013, driving demand for the Ferrous Metal Foundry Products industry. In addition, previously delayed construction projects picked up again over the years to 2018. At the same time, the prices of key inputs such as iron ore and steel have declined over the past five years. While this typically benefits industry margins, lower iron and steel prices lead to reduced raw material surcharges and therefore lower product prices. Over the five years to 2023, the industry is expected to rebound slightly. Strengthening transportation and construction markets and rising industrial production will drive demand for industry products...purchase to read more.

Industry Statistics & Market Size
Revenue
$18bn
Annual Growth 13-18
-2.9%
Forecast Growth 18-23
Profit
Employment
57,946
Businesses
678
Market Share of Companies

Industry Threats & Opportunities

  • Volatile input costs have increased price competition between operators in recent years
  • Industry competition means operators are not easily able to keep prices high as their input costs decline
  • Operators will experience more competition from castings made of other materials
  • Industry Report - Industry Products Chapter

    Iron foundry productsIron foundry products account for roughly 50.6% of revenue in the Ferrous Metal Foundry Products industry. This segment's share of physical output is even larger at about 90.0%, reflecting the lower price of iron castings compared with steel castings. Iron is the most commonly cast metal because of its low cost, ease of casting into complex shapes, ease of machining and desired physical properties (e.g. strength). Iron foundry products have decreased as a share of revenue over the past five years due to a generalized shift toward steel, as well as falling iron prices.Iron foundries specialize in the production of either gray iron or ductile iron. Gra...purchase to read more.

    Additional Insights for the Ferrous Metal Foundry Products Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Ferrous Metal Foundry Products Industry are

  • Effective quality control
  • Involvement of all stakeholders
  • Having a diverse range of clients
  • IBISWorld analysts also discuss how external factors such as Industrial production index and World price of iron ore in the Ferrous Metal Foundry Products industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Ferrous Metal Foundry Products Industry?

    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.

    Industry Products
  • Iron foundries
  • Commoditized carbon steel castings
  • Value-added steel investment cast products
  • Corrosion-resistant steel castings
  • Industry Activities
  • Manufacturing iron castings
  • Manufacturing steel castings
  • Manufacturing finished iron products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Industrial production index
  • World price of iron ore
  • World price of steel
  • Value of construction
  • Trade-weighted index

  • Current Performance
  • Fluctuating prices
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Bracing for more competition
  • Continuing to consolidate
  • Table: Ferrous Metal Foundry Products Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Ferrous Metal Foundry Products Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Iron & Steel Manufacturing
  • Metal Pipe & Tube Manufacturing
  • Steel Rolling & Drawing
  • Metal Stamping & Forging
  • Hand Tool & Cutlery Manufacturing
  • Structural Metal Product Manufacturing
  • Sheet Metal, Window & Door Manufacturing
  • Boiler & Heat Exchanger Manufacturing
  • Machine Shop Services
  • Valve Manufacturing

  • Key Selling Industries
  • Ball Bearing Manufacturing
  • Guns & Ammunition Manufacturing
  • Iron & Steel Manufacturing
  • Metalworking Machinery Manufacturing
  • Sand & Gravel Mining
  • Steel Rolling & Drawing

  • Products & Services
  • Iron foundries
  • Value-added steel investment cast products
  • Corrosion-resistant steel castings
  • Commoditized carbon steel castings
  • Other
  • Chart: Ferrous Metal Foundry Products Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Machinery
  • Transportation equipment
  • General manufacturing
  • Construction
  • Fabricated metal products
  • Exports
  • Other
  • Chart: Major Market Segmentation for the Ferrous Metal Foundry Products Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilities, depreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Ferrous Metal Foundry Products

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Ferrous Metal Foundry Products Industry

  • Industry Globalization
    Waupaca Foundry Inc., Precision Castparts Corp.,
  • Table: Waupaca Foundry Inc. - financial performance
  • Table: Precision Castparts Corp. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Ferrous Metal Foundry Products Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Ferrous Metal Foundry Products Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Industrial production index (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Casting
  • The process of pouring molten metal into a mold, allowing it to cool and removing it to produce a metal shape.
  • Ductile Iron
  • Iron that has been made more flexible by the addition of magnesium.
  • Ferrous
  • Refers to metal that contains iron.
  • Foundry
  • The buildings and works for casting metals.
  • Gray Iron
  • Iron with a high carbon content and relatively low tensile strength that is prone to fracture.
  • Ingot
  • Semiprocessed metal shapes that usually require further shaping, such as cold- and hot-working, cutting or milling, to produce a useful final product.
  • Nonferrous
  • Refers to metal other than iron and steel.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Ferrous Metal Foundry Products contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Ferrous Metal Foundry Products:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Ferrous Metal Foundry Products market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Ferrous Metal Foundry Products, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear