The US foundry industry is currently recovering from the economic crisis (from late 2008 to early 2010). In 2007, the annual sales of the American foundry industry was 28.2 billion U.S. dollars, but in 2009, when the financial crisis was severe, the annual sales were only 21.2 billion U.S. dollars. The American foundry industry has shown signs of recovery since 2010, with an annual growth rate of 9.3%. In 2011, the speed of economic recovery is expected to accelerate, and the annual sales are expected to be 26.3 billion US dollars. The US foundry industry will return to the level of 2007 in 2012 and surpass it in 2013.
The main growth areas of the US foundry industry are ductile iron castings, aluminum castings and magnesium castings, due to the increase in auto parts production brought about by the recovery of the domestic auto industry in the United States. Sales of steel castings will also quickly return to pre-crisis levels due to increased demand from industries such as mining, construction and rail transit. Gray iron parts and malleable iron castings will see a small increase in the short term during the economic recovery, but from a long-term forecast, the sales of these two castings will continue to lose money.
Today, the number of foundry factories in the United States has dropped from 2336 five years ago to 2040. The reduction in the number of foundry factories is mainly attributed to economic recession, technological advancement, competition from other countries and strict regulations.