ID: MRFR/CnM/7048-CR | October 2019 | Region: Global | 157 pages
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.
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.
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 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.
The investment casting market is divided into the following subdivision:
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.
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.
The investment casting market is divided into the following based on the regions:
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.
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.
Here is the list of recent advancement in the investment casting market:
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)