Global megatrends include climate change, globalization, scarcity of resources, urbanization, population growth, communications/big data, aging populace, and communications/big data. The trends are pointing to food, transportation, water, power, health, and water as major future markets in which iron casting foundries should strive to position themselves. 

The share of oil, gas, coal and natural resources utilization is shrinking year on year whilst renewables are increasing. The world is looking for renewable methods of generating power and iron casting foundries could be a part of this paradigm shift. In the automotive space, the major trends include reduced fuel consumption, emissions, autonomy and connectivity, vehicle weight and the development of electric and hybrid cards. The industry is well into the development and utilization of new materials that are lightweight and increasingly water-resistant to achieve these goals. Plug-in hybrid electric vehicles and battery electric passenger light vehicles are slated to expand considerably in the coming decade. Iron casting foundries may take into consideration providing more alloyed products to satisfy the shifting goals of the automobile customer.

All in all, for VR Foundries the market is wide open for new product development and, as a reliable iron casting foundry, we always wanted to offer our customers better products. Customers no longer want to buy alloys or chemical elements, but also mechanical properties. Our customer's expectations are high in terms of heat distribution, durability, strength, damping resistance, etc. The prospects for the development of new materials and new composites are pretty much open. Automotive OEMs, for instance, are looking for high strength in specific areas, and ductility in others, and they are in a position to integrate any material so as to achieve this easily. As customer needs and demands are changing in a rapid pace, grey iron casting manufacturers should understand the total supply chain and how they contribute to activating the various links of the chain. The customer is shifting gears to small production and more material grades. If iron casting manufacturers can supply more of these, therein lays the valuable service to the customer. Another important factor is reducing the total cycle time from product order to delivery. Finding ways to eliminate customer restrictions, low time to build new castings, and reduce patterns in investment will enable an iron casting foundry to be highly competitive. We are the future of foundry, and if you want to know more on the future technology of iron casting foundry, just give us a call.