Investment Casting Market Size is USD 15.06 Billion at a CAGR of 4.2% by 2027

 Increasing incidence in the demand from the aerospace sector for the process in manufacturing aircraft components and parts of precision for industrial machines are driving the demand for the market.

The Global Investment Casting Market is projected to reach USD 21.09 billion in 2027. Increased use of investment casting in the aerospace industry is likely to increase market demand for advanced component development such as compressors, engine components, gearbox components, and others.

The investment casting market is transforming towards automation as technological advancements such as robotics arms, simulation techniques, the internet of things, etc. are gaining popularity among the industry's vendors. Robotic arms are used with ceramic coats to cover the wax patterns, and then pour metal into the cavity. Key advantages of using robotic arms include increased precision in casting parts and reduced lead time.

Large investments and fluctuating prices of raw materials such as superalloys and steel are the factors that are expected to curb growth in the industry. Although it is a cost-saving process, wax mold preparation is labor-intensive and time-consuming, which is expected to impede market growth further.

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Top Companies: Alcoa, CIREX, Precision Castparts, Milwaukee Precision Casting, Zollern, RLM Industries, MetalTek, Dongying Giayoung, Impro and Amtek Group, among others.

Further Key Finding from the Report Suggestion:

·         Aerospace application is anticipated to lead the global investment casting market over the forecast period as a result of increased demand for emerging-country air fleets.

·         As a result of improved performance, rising demand for high-performance, and sustainable components is expected to propel demand.

·         Expansion and improved production in the automotive sector in European countries would likely raise demand for automotive components made using investment casting methods.

·         Influential manufacturers concentrate on achieving optimum operating costs and enhancing product efficiency to preserve their supremacy in the industry

·         Asia-Pacific has emerged as a significant investment casting market due to countries such as India and China that have seen substantial growth in its domestic aviation industry. Thereby, the demand for new air fleets and the manufacture of related components is largely influenced.

·         In February 2019, Signicast agreed with Amsterdam based investment firms Convent and Nedvest to acquire CIREX, an European investment casting specialist based in the Netherlands. This transaction enables Signicast to support its growing foreign client base better, and the merged company will now have plants in the Czech Republic, Netherlands, and Slovakia in addition to Signicast 's current three facilities in the USA.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Investment Casting market is segmented into:

Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

·         Sodium Silicate Process

·         Silica Sol Process

·         Tetraethyl Orthosilicate

·         Ceramic Mold

·         Others

Material Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

·         Aluminum

·         Super Alloys

·         Steel

·         Titanium

·         Others

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

·         Aerospace

·         Defense

·         Automotive

·         Oil & Gas

·         Medical

·         Mechanical Engineering

·         Energy

·         Others

Regional Outlook:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

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