U.S.: Iron Foundry Market 2024

Iron Foundry Market Size in the U.S.

In 2022, the U.S. iron foundry market was finally on the rise to reach $X after three years of decline. In general, consumption, however, saw a relatively flat trend pattern. Iron foundry consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Iron Foundry Production in the U.S.

In value terms, iron foundry production totaled $X in 2022. Over the period under review, production, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X%. Iron foundry production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Iron Foundry Exports

Exports from the U.S.

In 2022, exports of iron foundries from the United States dropped modestly to X tons, remaining relatively unchanged against the previous year's figure. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron foundry exports rose rapidly to $X in 2022. Over the period under review, exports continue to indicate a perceptible decline. The exports peaked at $X in 2014; however, from 2015 to 2022, 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 2022, 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 ($X) remains the key foreign market for iron foundries exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with an X% share of total exports. It was followed by India, with a X% share.

From 2013 to 2022, the average annual growth rate 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 India (X% per year).

Export Prices by Country

In 2022, the average iron foundry export price amounted to $X per ton, rising by X% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Foundry Imports

Imports into the U.S.

In 2022, approx. X tons of iron foundries were imported into the United States; increasing by X% against the previous year's figure. Overall, total imports indicated a buoyant expansion from 2013 to 2022: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron foundry imports soared to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

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

From 2013 to 2022, the biggest increases were recorded for France (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 2022, growing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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