Did you know that the foundry sector is going through a period of transformation?
In this article, we will explore the trends that are shaping this change, with a focus on key materials such as aluminum, iron and steel, and the role of innovation and recycling in this context.
Aluminum is establishing itself as a key material for the future of European foundries. Its lightness, strength and high recyclability make it a preferred choice for various industrial sectors, especially the automotive industry.
We appreciate continued growth in global primary aluminum production, rising from around 50 million metric tons in 2012 to almost 75 million in 2023. According to Emergen Research, the global aluminum market is estimated to grow at a compound annual growth rate (CAGR) of 5.9% between 2023 and 2032.
According to a research report published by Spherical Insights & Consulting, the global electric commercial vehicles market will grow at a compound annual growth rate (CAGR) of 34.4% between 2021 and 2030. Aluminum plays a crucial role in the manufacture of larger batteries and lighter structures.
In addition, Europe stands out for its commitment to sustainability, recycling more than 90% of the aluminum used in sectors such as construction and transportation (European Aluminium). This not only reduces the environmental footprint, but also reinforces the position of aluminum as a strategic material.
Although aluminum is gaining prominence, iron and steel remain essential materials in key sectors such as automotive and construction. Despite its more fluctuating behavior, since 2018, global crude steel production has remained above 1.8 billion metric tons. The highest peak was recorded in 2021, with production of 1.963 billion metric tons.(World Steel Association and Statista)
By 2025, steel is expected to account for around 60% of the materials used in vehicle manufacturing, thanks to its strength, durability and versatility (Ferrostexar). In addition, advances in high-strength steels and the development of nano-structured steel are expanding its applications and ensuring its relevance in an increasingly demanding industrial landscape (General Motors).
But what conclusions can be drawn from all this?
Aluminum continues to expand its role in industry thanks to its lightness, versatility and high recycling potential.
Iron and steel continue to be fundamental, standing out for their strength and capacity to adapt to new applications, and maintaining their relevance with the development of AHSS and nano-steels.
In this scenario, the key to maintaining and strengthening European leadership lies in prioritizing technological innovation, promoting recycling practices and focusing on sustainability as the cornerstone of industrial development.
