Metalcasting consolidation has reduced the number of metal casting facilities in the U.S. from 6,150 in 1955, to 3,200 plants in 1991, to today’s count of just 1,750. Now, the U.S. trails China and India, ranking only third globally in castings production. But exciting growth prospects are on the way. Let’s dig in.

Rebuilding The Metalcasting Ecosystem 

The global metalcasting market is expected to see a stunning expansion, with sales growing from $161 billion in 2023 to $225 billion by 2030, with some experts forecasting $314.9 billion by 2032 (a growth rate [CAGR] of 7.3% during 2024-2032). The North American iron and steel casting market alone is expected to reach $37.5 billion by 2032. 

The robust market growth will be driven by heightened demand from the automotive and aerospace industries, rapid technological change, growing investments in the defense sector, and a burgeoning need for large-scale metal castings for infrastructure projects spurred on by the Bipartisan Infrastructure Law and Inflation Reduction Act.

Award-Winning Reshoring Champions

Companies are reconsidering their sources of castings and reshoring to the U.S. or doing foreign direct investment (FDI) to shorten supply chains for agility and resilience, and to take advantage of government incentives. The forecast growth will provide lots of reshoring and FDI opportunities for foundries to win the National Metalworking Reshoring Award. 

Acme Alliance, a Northbrook, Illinois-based aluminum diecaster, was the 2021 winner. Hobson & Motzer, a Durham, Connecticut-based precision machining and assembly contract manufacturer in the medical device industry, received the 2023 National Metalworking Reshoring Award in recognition of its success in bringing manufacturing back to the United States.

The award honors companies that have contributed to the trend by effectively reshoring products, parts, or tooling made primarily by metal forming, fabrication, casting, or machining, including additive manufacturing. The 2024 National Metalworking Reshoring Award will be presented at IMTS 2024.

Historic Investment Supporting The Metalcasting Industry 

Military readiness, global competitiveness, and continued reshoring success all require a resilient infrastructure and a larger, well-staffed U.S. manufacturing industry. The $1.2 trillion bipartisan Infrastructure Investment and Jobs Act (IIJA) signed into law by President Biden, includes historic investment in essential U.S. infrastructure served by the metalcasting industry. 
The IIJA includes $550 billion in spending for sectors that are reliant on highly engineered metal castings. These important investments will increase demand for components from U.S. foundries.

Doug Kurkul, CEO, American Foundry Society (AFS) commented, “U.S. metalcasters are key suppliers of critical metal castings to the construction, rail, energy, road building, and waterworks sectors, and will play a vital role in supporting these key projects moving forward.”

Creating A Talent Pipeline

Advanced manufacturing is crucial to our defense industry, and a skilled workforce is critical to these industrial processes. To this end, the Department of Defense (DOD) operates nine of the 17 Manufacturing Innovation Institutes (MIIs). The DOD’s MIIs are engaged in advancing research and development, growing our manufacturing ecosystems, and providing education and workforce development.

The Institute for Advanced Composites Manufacturing Innovation (IACMI), has partnered with the DOD’s Industrial Base Analysis and Sustainment (IBAS) Program to create a national workforce initiative to help meet essential U.S defense needs in the casting and forging industry. Curriculum is focused on technician and engineering training opportunities in the metals industry.

Are You Thinking About Reshoring?

I suggest using our Total Cost of Ownership Estimator to help companies see they can reshore 20% or 30% of what is imported without impacting margin or price. We advocate to make even more work reshorable via policies like massive increases in skilled workforce recruitment and training, and a lower USD. Let’s collaborate to support skilled workforce development and rebuild the U.S. manufacturing base. For help or to help, contact me at (847) 867-1144 or harry.moser@reshorenow.org.