U.S.: Iron Foundry Market 2024

Iron Foundry Market Size in the U.S.

The U.S. iron foundry market reduced to $X in 2023, with a decrease of X% against the previous year. In general, consumption recorded a mild decrease. Iron foundry consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Iron Foundry Production in the U.S.

In value terms, iron foundry production stood at $X in 2023. Over the period under review, production, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Iron foundry production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Iron Foundry Exports

Exports from the U.S.

In 2023, approx. X tons of iron foundries were exported from the United States; which is down by X% compared with the previous year. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, iron foundry exports rose significantly to $X in 2023. Over the period under review, exports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for iron foundry exports from the United States, with a X% share of total exports. Moreover, iron foundry exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2013 to 2023, the average annual growth rate of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Germany (X% per year).

In value terms, Canada ($X) remains the key foreign market for iron foundries exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

Export Prices by Country

The average iron foundry export price stood at $X per ton in 2023, growing by X% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 an increase of X%. The export price peaked in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Foundry Imports

Imports into the U.S.

In 2023, purchases abroad of iron foundries decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. The total import volume increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then shrank notably in the following year.

In value terms, iron foundry imports shrank rapidly to $X in 2023. Over the period under review, total imports indicated a tangible expansion from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

India (X tons), China (X tons) and Canada (X tons) were the main suppliers of iron foundry imports to the United States, together comprising X% of total imports. The UK, France, Mexico, Germany, Vietnam and Thailand lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and France ($X) were the largest iron foundry suppliers to the United States, together accounting for X% of total imports. Canada, Mexico, Germany, Vietnam, the UK and Thailand lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron foundry import price stood at $X per ton in 2023, surging by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform