The Metalcasting Forecast & Trends special report published by the American Foundry Society is predicting bullish component demand by farm implement manufacturers in the next several years. The new study is based on an economic model prepared by the trade association, Product Development & Analysis LLC and the Illinois Institute of Technology Stuart School of Business.
Here is a summary of the U.S. cast metals sales forecast as it pertains to NAICS 33311 (Agricultural Implement Manufacturing):
- Gray Iron Castings — 6.7% short-term annual growth rate, growing from $316.4 million in 2010 to $379.8 million in 2013
- Ductile Iron Castings — 15.8% short-term annual growth rate, growing from $232.6 million in 2010 to $342.6 million in 2013
- Steel Castings — 2.5% short-term annual growth rate, growing from $12 million in 2010 to $12.9 million in 2013
- Aluminum Castings — 17.2% short-term annual growth rate, growing from $17.7 million to $26.9 million in 2013
If the forecast holds true, farm equipment manufacturers can expect higher cast metal prices due to higher demand and less available capacity, since the U.S. casting industry now consists of 2,040 facilities, down from 2,336 5 years ago.
Capacity utilization across the industry is forecast at 73% for 2011, up 9% from 2010 and up 13% from 2009.
The Metalcasting Forecast & Trends special report is available from the American Foundry Society ($400) by calling AFS at 800-537-4237.