$852.7m
$XX.Xm
2,137
133
$XXX.Xm
The Iron and Steel Casting industry has performed poorly over the past few years. The decline of the Australian Motor Vehicle Manufacturing industry has heavily affected industry revenue, while increasing import competition has put pressure on domestic production. Recovering demand in major domestic markets has reduced the pace of revenue declines, as the low value-to-weight ratio of industry products typically makes high-volume trade uneconomical. Overall, industry revenue is expected to decline at an annualised 7.7% over the five years through 2023-24, to an estimated $852.7 million. This includes an anticipated decline of 2.6% in 2023-24.The industry produces intermediate iron and steel products, such as railway components, naval components and mining support arms, which are consumed by a variety of users, including mining firms and construction companies. Growth in key downstream markets, particularly the Mining, Construction and Manufacturing divisions, has heavily influenced the industry's performance in recent years. A decline in key downstream industries in some manufacturing divisions, particularly the Motor Vehicle Manufacturing industry, has negatively affected the Iron and Steel Casting industry. Furthermore, a decrease in the domestic price of iron and steel has increased industry profitability over the period, as purchase costs have declined. Uncertainty about the price of iron and steel can also contribute to customers seeking out substitute products that may enable them to make more accurate budgeting decisions.The Iron and Steel Casting industry is projected to grow over the next few years. Industry revenue is forecast to rise at an annualised 1.2% over the five years through 2028-29, to an estimated $905.3 million. Australia's rising population is likely to place pressure on existing infrastructure and expand demand for multi-unit apartment and townhouses construction and railway equipment manufacturing. These trends are projected to boost revenue, as new construction projects and manufacturing will boost demand for iron and steel castings. The industry is likely to face strong competition from overseas manufacturers, with companies anticipated to continue shifting foundry operations offshore.
Industry revenue has declined at a CAGR of 7.7 % over the past five years, to reach an estimated $852.7m in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Bradken | 25.6 | |
Pandrol | 25.6 | |
Ajax Foundry Pty Limited | 17.1 |
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Industry revenue is measured across several distinct product and services lines, including Sand casting, Shell-mould casting and Investment casting. Sand casting is the largest segment of the Iron and Steel Casting in Australia.
Renewed demand for sand casting is aiding industry revenue
Industry firms primarily produce iron and steel products through a process called casting, which involves pouring molten ferrous metals into moulds. Industry products are then consumed as intermediate inputs by a range of user industries.
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ANZSIC 2121 - Iron and Steel Casting in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Falling revenue over recent years is a result of decreased demand from downstream markets. Demand from major markets, including manufacturing, construction and mining, has de...
Learn about an industry's products and services, markets and trends in international trade.
The respectively low cost of sand casting keeps demand high. The low cost of sand casting compared to other forms of casting means this segment is taking up an increasing amo...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Business locations typically follow the spread of the population. New South Wales, Victoria and Queensland account for over 80% of enterprises in 2023-24.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
High specialisation has kept the Iron and Steel Casting industry at low concentration. Most operators have machinery catering to a specific market segment rather than operati...
Learn about the performance of the top companies in the industry.
There are no major companies in the Iron and Steel Casting industry. No single company has market share of above 5%.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The Iron and Steel Casting industry is characterised by low capital intensity. The industry is more labour focused, and for every dollar spent on labour only an estimated $0....
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Changes in steel and iron prices influence demand, as they affect input costs. Shifts in steel and iron prices are generally passed on to customers, with price rises usually ...
Including values and annual change:
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Key data sources in Australia include:
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The market size of the Iron and Steel Casting industry in Australia is $852.7m in 2024.
There are 133 businesses in the Iron and Steel Casting industry in Australia, which has declined at a CAGR of 0.0 % between 2018 and 2023.
The market size of the Iron and Steel Casting industry in Australia has been declining at a CAGR of 7.7 % between 2018 and 2023.
Over the next five years, the Iron and Steel Casting industry in Australia is expected to grow.
The biggest companies operating in the Iron and Steel Casting market in Australia are Bradken, Pandrol and Ajax Foundry Pty Limited
Sand casting and Shell-mould casting are part of the Iron and Steel Casting industry.
The company holding the most market share in Australia is Bradken.
The level of competition is moderate and steady in the Iron and Steel Casting industry in Australia.