US Industry Outlook 2023: Sales Expected to Keep Growing

While most foundries expect a recession in 2023, steady orders and full order books lead to optimism among metalcasters.

Pressemitteilung | Reading time: min

Report by Modern Casting


U S. casting sales saw a second strong year of growth in 2022. After a dip in sales in 2020 that brought overall industry revenue to $36.7 billion (down from $44.2 billion), the U.S. foundry industry reached $43.3 billion in casting sales in 2021 and $46.3 billion in 2022.

AFS forecasts another year of growth in 2023, albeit somewhat tempered from the pandemic recovery years of 2021 and 2022. Overall estimated revenue for 2023 is $48.3 billion, according to the 2023 AFS Metalcasting Forecast & Trends. This is a 4.3% increase over 2022. In 2022, operating expenses were 82.8% of revenue for foundries, with total operating expenses growing 12.1% year over year.

Foundry operating expenses break down as follows: 51.5% for cost of materials, 32.8% employee expenses, 7.3% buildings and expenses and 8.9% other expenses. According to the report, an estimated 89% of foundries are profitable, with an average net income of 9.2% of revenues. The number of U.S. facilities (excluding art and educational foundries) is estimated to be 1,715. Revenue per facility from 2021 to 2022 increased by 10.1% and a 4.6% growth is expected into 2023. Estimated annual revenue per facility is forecast to reach $33.7 million by 2027. More details on the industry outlook are shared in the charts on the following pages, along with a glimpse at a few global casting production trends in Table 1.

The AFS Metalcasting Forecast & Trends is developed from core data sourced from comprehensive business surveys from the Census Bureau, Bureau of Labor Statistics, and other government agencies.

Company Info

AFS - American Foundry Society

1695 North Penny Lane
IL 60173 Schaumburg
United States

Telephone: 800/537-4237