In 2023, the sold production of ductile iron castings for machinery and mechanical appliances, excluding piston engines, in the UK was below the forecasted 2024 value of 62.915 million euros. Between 2024 and 2028, the industry is expected to grow consistently, with a steady annual increase. The year-on-year growth rates show slight increases, providing a compounded annual growth rate (CAGR) for this period indicative of a healthy and stable market.
Future trends to watch for:
- Technological advancements in manufacturing processes that could boost production efficiency.
- Increasing demand for sustainable and durable materials in mechanical components.
- Potential impacts of trade policies and economic conditions on raw material costs.