/24-7PressRelease/ - MUMBAI, INDIA, March 25, 2008 - The brightest prospects for castings will be in some of the smaller castings markets, including aerospace applications and electrical and electronic equipment. Advances in aerospace equipment applications will be spurred by robust growth in spending on military aircraft and missiles, as well as on commercial aircraft. Ongoing technological advances in computers and wireless devices will support castings demand in medical electronics, mobile telephones, video games, medical instruments and electronic packaging. Shipments of industrial castings are expected to rise 1.1 percent per annum through 2011, mirroring demand, as trade is expected to continue to play a minimal role in the castings market. Tonnage of castings shipments is forecast to rise less than one percent annually through 2011, which represents a rebound from declines that occurred in the 2001-2006 period.
Magnesium-based castings to lead nonferrous growth
Shipments of nonferrous castings are expected to accelerate in volume terms from the 2001-2006 period, increasing 3.3 percent per annum through 2011. Magnesium-based castings are expected to see the most rapid growth among the nonferrous metals because of their light weight and high strength-to-weight ratio. Strong growth in the aerospace industry will spur demand for magnesium castings, as use of these components provide greater fuel efficiency, overall noise reduction, and less vibration when compared to other materials. Nonferrous castings will also experience gains in motor vehicle applications, where magnesium components are typically lighter and therefore are able to improve a vehicle's fuel economy while increasing safety and handling.
Ferrous castings continue to lose market share
Ferrous castings are expected to continue to lose share to nonferrous castings over the forecast period, both in terms of shipments value and tonnage. Gray iron will see significant declines, as the metal continues to be replaced by ductile iron. Ductile iron offers superior performance characteristics such as less brittleness, greater resistance to impact and considerably lower density. For example, in automotive applications, most types of ferrous castings are being replaced by nonferrous casting as manufacturers seek to reduce vehicle weight and increase fuel efficiency. Aluminum and magnesium have become increasingly common in the production of cast automotive components because of their lightweight qualities.
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