1. Stable output and solid industry foundation:
China's casting output will reach 51.9 million tons in 2023. Although it has not increased significantly since the peak of 54.05 million tons in 2021, it still maintains a leading level in the world. It also directly shows that China has stable production capacity and a complete industrial chain in the foundry industry, providing a reliable supply guarantee for casting exports.
2. Strong growth in aluminum alloy castings:
In recent years, driven by the rapid development of lightweight automobiles and new energy vehicle industries, China's aluminum alloy casting output has repeatedly set new highs, and together with magnesium alloy castings, it has reached 7.95 million tons. Provide high-quality lightweight casting products for the global market. The automotive industry is a large downstream industry for castings, accounting for 29.3%. China has a global and complete automobile manufacturing system and is in a leading position in the field of new energy vehicles, which provides a driving force for the continued growth of casting exports. Especially in the field of aluminum alloys and lightweight castings, China has strong competitiveness and can meet the high-end needs of the international market.
In addition, China has performed outstandingly in the export of aluminum alloy wheels, with the export volume reaching 930,000 tons in 2023, of which A356 alloy occupies a dominant position. From the perspective of export destinations, the US market accounts for as high as 32%, firmly ranking as the largest exporter of Chinese aluminum alloy wheels. China's aluminum alloy wheel products have strong competitiveness in the global market, especially in the European and American markets.
3. Export situation:
According to customs data, from January to August 2024, the export volume of castings in my country increased year-on-year, the total export volume was 4.06 million tons, a year-on-year increase of 13.1%, and the total export volume was US$11.35 billion, a year-on-year increase of 5.8%.
In August, a total of 549,000 tons were exported, an increase of 18% year-on-year and 2.8% month-on-month; the export value was US$1.5 billion, an increase of 8.0% year-on-year and 2.4% month-on-month.
With the growth of aluminum alloys and lightweight castings, and the promotion of the new energy vehicle industry, China's casting exports have occupied an increasingly important position in the global market. Judging from the export data from January to August 2024, casting exports have shown a good growth momentum, not only the quantity and amount have steadily increased, but also the demand in major markets such as the United States has continued to increase.