Investment Casting Market Research Report - Global Forecast till 2027

Global Investment Casting Market: Information by Type (Silica Sol Process, Sodium Silicate Process), Application (Aerospace & Military, General Industrial, Industrial Gas Turbines, Automotive, Others) and Region (Europe, Asia-Pacific, North America, Latin America and Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/7048-CR | October 2019 | Region: Global | 157 pages

Please note that assessment period of report has been updated from 2019-2025 to 2020-2027. Cordially fill sample form for updated data.

Market Overview

The investment casting market is expected to touch a CAGR of 5.25%, with a market value of USD 28,449.1 million by the end of 2025. Investment casting is a procedure where the metal part is produced with the help of an investment mold. The investment casting process is also known as the Lost wax method. This procedure helps in the following process that includes minimizing the material waste, energy, and machining. Its primary application is in the aerospace, gas turbine, industrial and automotive industries. The major driving force in the investment casting market's growth is its control of the close dimensional structure and good surface.

Other factors that have been responsible for the growth include its extensive use in the manufacturing of the components used in aircraft and the parts of the machines used in the industries. The features used in the designing of aircraft need advanced engineering materials and geometries that are complex. Components like air ducts, complex curved surfaces, engine compartments, and internal channels have witnessed increased demand. Using investment casting the aircraft manufacturing enables the production of structures that are light in weight and highly fabricated. The reports have shown that the aircraft industry is expected to witness high growth in the coming years, bringing development in the investment casting industry.

COVID-19 analysis

They say unfavorable conditions tend to bring out the best in you. This is the time when the world is fighting this deadly and scary pandemic. No one is certain about the end, but indeed, we can fight back to restore what we have lost in terms of financial, physical, and mental stability. Not just the individuals, the organization, whether big or small, have also suffered equally. Reports have been prepared exclusively for them to take the measures to ensure that they adapt themselves to the current situation and work accordingly. Taking a closer look at the points, they are weak, and strategize accordingly is the need of the hour. The reports have been prepared by industry experts and analysts with decades of experience in the same field. Along with all this, the qualitative and quantitative analysis of the market size is also included in the report. This helps the investment casting companies self-analyze themselves and takes appropriate actions.

Market Dynamics

Investment casting has emerged as an essential component for the industrial sector because of its capacity to produce fine impressions and indicated parts with utmost perfection. The industries used include dairy, mining, pharmaceuticals, power need precise casting made up of stainless steel. The utilities like these have made the investment cast sector grow at a rapid pace.

It is also used to manufacture automobile parts like the fuel system, brakes, chassis, and other body components. With the increase in automobile manufacturing in most countries in Asia like India, Thailand's growth in the investment casting market can also be seen at a similar pace.

However, some restraints have been causing the growth of the investment casting manufacturers to be pulled backward. The major one is the high initial cost required to produce the wax patterns and shell molds to cast particular parts. For more extensive features like doors and panels of the aircraft, the investment cast method is not suitable because of the high cost involved. Methods like sand casting work better for big-sized components.

Regulatory implications

Regulatory implications on the investment cast industry do not influence the growth to too much extend. The only thing concerning the regulatory bodies is the disposal of the waste products. Dumping them into the water bodies is not a very healthy alternative as this imposes a severe threat to flora and fauna inside the water. Moreover, it also impacts the ecological balance. Various laws have been passed to keep a check on such activities. Apart from this, the industry is out of any severe complications but expects support from different local, regional, and national regulatory bodies.

Market segmentation

The investment casting market is divided into the following subdivision:

  1. Based on the type

  2. Based on the application

Based on the type: Based on application, the investment casting market is further subdivided into the following segments:

  • Sodium silicate process

  • Silica sol process

Silica sol process accounts for almost 60% share of the total investment casting market. This variant in the investment casting process is used to cast the otherwise difficult parts to produce, especially for the aerospace industry.

Based on the application: The investment casting market is further divided into the following found in the application:

  • General industrial

  • Industrial gas turbines

  • Aerospace and military

  • Automotive

  • Others

The largest share of investment casting market is with the aerospace and military segment. The rise in the demand for the machinery used in the food processing industry is projected to give a tremendous boost to the market's growth.

Regional analysis

The investment casting market is divided into the following based on the regions:

  • North America

  • Europe

  • Latin America

  • The Middle East and Africa

  • Asia pacific

The region that dominates the investment casting manufacturers in the Asia Pacific. This is because developing countries like India and China have been experiencing fast growth in the industrial setups. Moreover, there is also a rapid demand in the end-user industries like automobiles, aerospace, and medical. All these make the region the most significant market across the world.

In North America, the investment casting companies in the USA account for almost 29% of the total air transport felt. Also, it ranked second in the automobile production growth years back. All this leads to fast growth in the investment casting market across North America.

Key Players

The Key Players in the Global Investment Casting Market include

Alcoa Corporation (US), WANGUAN (China), Precision Castparts CORP (US), Metaltek International Inc (US), CIREX (The Netherlands), Ningbo Jiwei Melt Mould Castings CO., LTD (China), Zollern GMBH & CO. KG (Germany), Taizhou Xinyu Precision Manufacture CO., LTD (China), Milwaukee Precision Casting, INC (US), Dongfeng Precision Casting CO., LTD. (China), IMPRO Precision Industries Limited (Hong Kong), RLM Industries, INC (US) and Dongying Gia Young Precision Metal CO., LTD (China)

All the key players in the investment casting market have been working hand in hand to ensure they take the market to the heights of success. Continuous efforts in technological advancements are being made by all the major players in the investment casting industry overview. Moreover, various acquisitions, collaborations, and mergers have led to the need to increase. The focus of all the major players has not been only on the individual growth but growth of the entire investment cast market.

Recent advancements

Here is the list of recent advancement in the investment casting market:

  • The investment cast industry has been trying to work on the cost associated with the casting molds, which is otherwise very high and imposes a restraint on the market's growth.

  • With the increased demand in the aerospace industry, most of the key players in the investment casting market are shifting to technological advancements.

  • The introduction of a high-quality automated machine makes the work a lot easier and more precise.

  • The automated machines also ensure that less man force is required hence less dependency on the labor and more output.

  • The increased demand in the defense industry also has made the drive quite focussed on the quality of products it produces.

Report overview

The industry experts have prepared the report after the in-depth analysis of the market provides an exposure like no other to the companies. The reports have the investment casting industry overview and also the study of the market post-COVID-19 era. It also discusses the market dynamics, the driving factors for the market's growth, and the restraints that cause the challenge in the market growth. The segmentation of the investment cast market based on the type, application, and region are also including in the report. Not just this, the list of all the critical players in the market and the strategies they implement to get to the level of success are also discussed. To ensure that the investment casting companies stay up to date with the latest technology, the recent advancements are also included within the report.

Frequently Asked Questions (FAQ) :

The market is expected to touch a value of USD 28.4 billion by the end of 2025

The investment cast market is expected to exhibit a CAGR of 5.25% during the forecast period.

The major driving force in the market's growth is the increase in demand for precise and finished industrial parts in aircraft designing.

The Asia Pacific dominates the market.

The Key Players in the Global Investment Casting Market include Alcoa Corporation (US), WANGUAN (China), Precision Castparts CORP (US), Metaltek International Inc (US), CIREX (The Netherlands), Ningbo Jiwei Melt Mould Castings CO., LTD (China), Zollern GMBH & CO. KG (Germany), Taizhou Xinyu Precision Manufacture CO., LTD (China), Milwaukee Precision Casting, INC (US), Dongfeng Precision Casting CO., LTD. (China), IMPRO Precision Industries Limited (Hong Kong), RLM Industries, INC (US) and Dongying Gia Young Precision Metal CO., LTD (China)