Iran’s Iron Casting Parts Market Outlook Report

10,027€

TRY: 365,000 ₺

Cast iron is produced by melting iron and steel scrap. Once melting is completed, the molten metal is cast into sand or metal molds with shapes determined by the intended application in different industries. Cast iron is one of the main raw materials used in the production of cast parts. The share of different raw materials in iron and steel casting varies depending on the level of industrial development and the availability of iron ore. Sponge iron and scrap are the main raw materials used in Iran’s casting industry. Automotive, fluid accessories, and machinery and equipment are respectively the largest consumers of cast parts.

Category: Cast Iron.

Product Description

With a GDP of $415 billion in 2019, Iran was the third largest economy in the region that year. While the country’s economy was steadily growing after the drop in 2012 due to the sanctions, it dipped once again in 2019 thanks to the return of the sanctions. With an annual crude steel output of 17 million tonnes, Iran is among the largest producers in the region. About 80% of the country’s crude steel has been produced using electric furnaces. The share of blast furnaces in total steel output has declined over the past years. Owing to the availability of cheap energy carriers such as gas, electric furnaces constitute the largest share of crude steel capacity development; the number of operating blast furnaces is small compared to electric furnaces.

Market drivers of Iran’s iron and steel casting

The automotive industry is one of the main consumers of cast parts. Most of the auto parts used in Iran are produced domestically. Given the large share of the industry in the consumption of cast parts and the public perception of cars as assets, the domestic output of cast parts is expected to increase as the auto industry is developed; the market will grow in the long term.

The Iran Vision 2025 has targeted auto output at three million units per year by 2025. Despite numerous challenges for the target to be realized, government stimulus will provide an opportunity for the market’s expansion.

Overview of Iran’s casting market

Given the relative privileges in Iran such as cheap electricity, the casting industry can contribute significantly to production, employment, and exports. Due to the sanctions and the depreciation of the rial, the casting industry has found an opportunity to ramp up output and exports, with positive trade balance over the past years. It should be pointed out that Iran’s net exports were reported at low levels. This indicates that a significant portion of the domestic output of cast parts is used within the country, with the remaining being exported. According to forecasts, Iran’s net exports are expected to increase in the medium term and decline slightly afterwards.

Breakdown of Iran’s casting market

Iran’s cast parts are analyzed in different categories including cast iron, carbon steel, alloy steel, and stainless steel. These products are also categorized based on weight: lighter than 300 kg, between 300 and 1,000 kg, and heavier than 1,000 kg. Finally, cast parts are broken down according to applications including automotive, fluid accessories, equipment and machinery, and others.

Key players in Iran’s casting market

Luleh va Mashinsazi Iran (L.M.I Co)
Iran Tractor Foundry Co. (ITFCO)
Iran Tractor Manufacturing Company (ITMCO)
Saipa Diesel
Iran Khodro Diesel

Additional Information

Industry	Cast Iron Products
Region	Iran
Report Type	Industry Report

Specifications

Report Attribute	Details
The base year for estimation	2020
Historical data	2010-2019
Forecast period	2020-2025
Quantitative units	Value in USD and Volume in Tonne
Report coverage	Market Overview, Dynamics, Market Outlook, Risks to Forecast, Consumer Market, Industry Overview, Market Landscape, Competitive Landscape, Market Attractiveness, External Macro Environment Analysis
Segments covered	Source, Composition, Type, Application
Pricing and purchase options	Please explore our purchase options to meet your exact research needs.

Reasons to Buy

Recognize the geographical distribution of import demand
Identify the current and future key players of the trading market
Achieve a better insight on potential target markets
Understand the behavior of major suppliers/customers either globally or regionally
Identify competitors as a feed for market analysis

Table of Content

Executive summary
Introduction
- Objective
- Market under study
- Product
  - Product specifications
  - Consumption structure
    - Applications
    - Physical properties
  - Subjects discussed
  - Geographical scope under study
  - Study timeframe
  - Study currency
  - Potential audience

Market dynamics
- Market drivers
- Restraints
- Opportunities
- Challenges
Market overview
- Market size
- Industry capacities
  - Existing capacities
    - Capacity distribution
    - Geographical distribution of capacities
  - Future capacities
- Output
  - Output trends
  - Operating rates
- Consumption
  - Consumption trend
  - Consumption Share of domestic product
- Trade
  - Exports
  - Imports
  - Trade balance
  - Market balance
- Market breakdown by product type
- Market breakdown by product type
- Market breakdown by application
- Inventory
  - Producers inventory
  - Consumers inventory
  - Traders inventory

Market outlook
- Market factors
  - Raw materials
  - Costs and prices
  - Competition
  - The government
  - Other factors
- Future scenarios
- Risks to forecast
Consumer markets
- End-user markets
  - Building construction
  - Infrastructure construction
  - Transportation manufacturing
  - Industrial equipment manufacturing
  - Durable goods manufacturing
  - Consumable goods manufacturing
- Direct consumer markets
  - Major Direct consumers
    - Existing capacities
    - Drivers

Export potentials
- Destinations
  - Trade and insurance costs
  - Import market suppliers
  - Producers potential share

Industry overview
- Raw materials
  - The supply volume of raw materials
  - Supply channels of raw materials
  - Raw materials procurement costs
- Cost structure of producers
- Production cost curve
- Industry value added
- Generated new scrap
- Technology
Market landscape
- Domestic sales markets
  - Pricing in the domestic market
  - Potential domestic demand
  - Trade agreements for imports
  - Foreign suppliers
- Foreign sales market
  - Prices
  - Potential markets overview
  - Trade agreements for exports
  - Foreign customers

Competitive landscape
- Producers
  - Company profile
  - Revenue structure
  - Gross profit margins
  - Capacity, output and sales
- Consumers
  - Company profile
  - Revenue structure
  - Gross profit margins
  - Capacity, output and sales

Market attractiveness
- Industry rivalry
- Threat of new entrants
- Threat of substitutes
- Bargaining power of buyers
- Bargaining power of suppliers
- Conclusion of Porter analysis
PESTEL analysis
- Political factors
- Economic factors
- Social factors
- Technology factors
- Environmental factors
- Legal factors
SWOT analysis
- Large-scale companies with favorable conditions
  - Short-term strategies
  - Long-term strategies
- Large-scale companies with unfavorable conditions
  - Short-term strategies
  - Long-term strategies
- Small enterprises with favorable conditions
  - Short-term strategies
  - Long-term strategies
- Small enterprises with unfavorable conditions
  - Short-term strategies
  - Long-term strategies

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