Metal casting is one of the oldest and most important industrial sector of United States. The industry was first established in 1642 in the US and since then has helped the country to become the world's most admired industrial nation in manufacturing, science, defense, medicine and aerospace. Fundamental to the America's economy, metal casting continues to play an important role in the success of US manufacturing through the production of quality castings. As a matter of fact, metal castings are today used in 90% of all manufactured products in the United States.
However, today the US metal casting industry is facing many challenges as never before. The industry is facing the most intense global competition in its history and is severely affected by the increasing costs associated with regulations and other actions by the government, energy prices and health care.
Some of the major challenges to the US metal casting industry are -
Economic Slowdown - Slowdown in economy has resulted in slowest manufacturing recovery in decades. This recession has caused significant job losses and numerous foundry closures.
Foreign Competition - Most of the competitors to the US metal casting industry are free from complex regulations, high labor costs, and enjoy subsidies and government trade protections.
Government Regulations – Several government regulations are badly affecting the US metal casting industry. The most immediate and threatening regulation at this time is EPA's Iron and Steel Foundry MACT. This regulation is expected to be more onerous, expensive and damaging to the future of American metal casting industry.
Energy – The US industry is facing tough challenges with rising energy costs. The industry needs government support for improved efficiency, infrastructure and investments in new technologies.
