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Ferrous Metal Foundry Products in Canada - Industry Market Research Report

Ferrous Metal Foundry Products in Canada - Industry Market Research Report

  • January 2019
  • 36 pages
  • ID: 4640021
  • Format: PDF
  • By Ibisworld

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Heavy metal: Lower raw material costs have helped expand industry profit margins

Abstract

Ferrous Metal Foundry Products in Canada
The Ferrous Metal Foundry Products industry in Canada, which sells iron and steel castings to manufacturing and construction industries, has struggled with fluctuating demand and increased import competition over the five years to 2018. Industrial capacity utilization plays a large role in sales. At the same time, foreign competition from low-cost producers in China and India has increasingly challenged domestic operators for market share. Finally, volatile input prices have made it difficult for companies to plan their budgets. As a result of falling input prices and rising import competition, industry revenue is expected to fall over the five years to 2018. Over the five years to 2023, industry revenue is forecast to decline. Along with falling revenue, the industry will struggle with significant challenges. Excess supply of ferrous metals is expected to keep iron ore and steel prices low, keeping the price of industry goods depressed as well.

Companies in this industry pour molten iron and steel into moulds of a desired shape to make castings. Companies purchase ferrous metal inputs from iron and steel manufacturers. The industry does not include companies that cast iron and steel they manufacture themselves.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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