By volume, China's annual casting output has been the highest in the world for the past ten 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 50.6 million tons in 2013. China's casting output was expected to reach 60.1 million tons in 2014. This increase in output drove annualized revenue growth for the Iron and Steel Casting industry of 14.5% over the five years through 2014 to $124.9 billion.
Low labor costs in China have attracted increased investment from foreign casting enterprises, including those from the United States, Japan, Germany and Britain.
Firms in the Iron and Steel Casting industry cast iron or steel and manufacture steel or iron products. The manufacture of cast iron and steel products involves melting the metal to be used, pouring it into a mold, letting it cool and then knocking out the casting. Final cast products that are manufactured in this industry include pipes, valves, parts, components, hydraulic pressure units and pneumatic units.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.