Metalcasters Cautiously Optimistic About 2023

America’s metalcasters are cautiously optimistic about business conditions for 2023, according to a new “Quarterly Metalcasters Outlook Survey” released by the American Foundry Society.

Although 91% of respondents expect the U.S. economy to enter a recession, only 5% expect the recession to have a major negative impact on casting sales. In the survey, 79% said they had a positive business outlook for the year ahead.

In another positive sign, metalcasters are continuing to make significant investments in their foundries. Fully 79% of responding foundries are planning capital investments of at least $100,000 and four of every 10 foundries are investing more than $1 million in 2023. The categories identified most often for 2023 investments include:

• Grinding Equipment 39%
• Robotics 35%
• Conveyors 35%
• Lab Equipment 31%
• Cranes & Hoists 29%
• Molding Equipment 27%
• Environmental Controls 25%
• Inspection & Testing Equipment 24%
• Melting Equipment 22%
• Air Compressors 22%
• Machine Tools 20%
• Blast Cleaning Equipment 20%
• Core-making Machines 18%

Metalcasters continue to identify a shortage of workers and inflation as the two most nettlesome challenges. On the worker availability front, 39% have seen an improvement over the past six months, but 19% say the problem has gotten worse over the same period.

“Metalcasters directly and indirectly contribute $100.5 billion per year to the U.S. economy,” said Doug Kurkul, CEO of AFS. “The metalcasting industry accounts for over 490,000 direct, indirect and induced jobs and $32.1 billion in wages. AFS and its members work throughout the year to promote sound public policies that keep this vital and vibrant industry viable.”

AFS also announced that the annual Government Affairs Fly-In in Washington, D.C. will be held on June 20-21 and encouraged all metalcasters and industry suppliers to mark their calendars to participate in the event. Registration for the Fly-In is open.

The American Foundry Society is a dynamic technical and advocacy organization that serves and represents the $46 billion metalcasting industry. AFS is the only association serving the entire industry, including all metals and processes, with a three-part focus on advocacy, education, and innovation. AFS also publishes Modern Casting and Casting Source magazines and presents Metalcasting Congress and CastExpo, the largest metalcasting trade events in North America. Founded in 1896, the organization is based in Schaumburg, Illinois, with an advocacy office in Washington, D.C. More information is available at afsinc.org.