The nonferrous metal foundries industry in the US is showing a modest but stable growth trajectory. In 2023, the industry's gross output was estimated at approximately 14.60 billion USD. From 2024, the forecast indicates a year-on-year increase, with values reaching 15.23 billion USD by 2028. The year-on-year growth rates from 2024 to 2028 vary around 0.8% to 1.0%. The compound annual growth rate (CAGR) over the five years from 2024 to 2028 is projected at around 0.8% annually, indicating consistent industry expansion.
Future trends to watch include technological advancements, which could increase production efficiency and reduce costs, and shifts in global demand for nonferrous metals, particularly driven by industries such as automotive and electronics. Regulatory changes and environmental considerations might also impact industry dynamics significantly in the upcoming years.
