Socio-economic impact research of foundry industry by using neural network

Abstract

Global casting production reached 104.4 million tons in 2016. The top ten casting production nation produces 91.6 million metric tons of the total production of 104.4 million metric tons. Nearly 47.2 million metric tons of casting produces by China. Casting production increases from 5.4% to 11.35% million metric tons. USA, Japan, Germany, Russia, Korea, Mexico, Brazil and Italy are the top ten nations. Almost 6500 foundry units are in country out of which 90% can be categorized as small scale units, medium scale units as 8% and large scale units as 2%. Foundry industry includes several critical aspects related to social, economic and environmental aspect need to assess. The results gained by these models are compared with regression model. Socio-economic foundry industry complex relationship between different parameters can be modeled by using neural network and regression model. It can also study running such program lead to substantial improvements in socioeconomic circumstances of targeted industry and make it sustainable industry.