The Growth and Investment Opportunity in the Casting Industry

With the advancement of a multitude of sectors investing in the casting industry or the foundry market, it is good news for the sand casting manufacturers. Formerly this industry has shown about 5% to 7% growth in the last few years; however, according to industry officials, the expected growth rate is supposed to reach as high as 13% to 14%. India is already the third-largest casting producer globally after China and the USA. 

Development of this Sector 

While the casting industry was not Among the top industries in India, it is slowly turning around. While ignorance has faded, people have come to realize how the casting technology will be able to provide them with new opportunities and power in the days to come.

Although the industry took a big hit during demonetization and the effects of GST are yet to be faced, all in all, there is still a positive drift in the market compared to before. The growth in casting industry is to come from all avenues, including the railway, mining, automotive, defense, oil, and many more. 

Things to Look After 

While the industry is definitely on the rise, there are still some problems that have to be taken care of before it is made a viable investment option. 

The biggest problem with this industry is that it does not have sufficient resources for up-gradation in Technology and also lacks adequate manpower. It is also reported that consumers are not paying the amount of money required for the finished products.

To create demand and supply at balance, steps are being taken to make sure that the price is kept low; however, this is adversely affecting the market. The need for investment in the market hence is even more than ever.

 The Solution 

The end product has been facing many challenges in the Indian market. However, this problem can easily be solved with the help of updating Technology used to make the product. The only way to make sure this happens is with the help of investment in the market, which can even make the industry grow more. With better manpower and a dedicated workforce, things will surely turn around in no time at all.  

This is undoubtedly the best thing happening to sand casting manufacturers, and it will change their game in the best manner possible.