IMARC Group’s report titled “Investment Casting Market Report by Process Type (Sodium Silicate Process, Tetraethyl Orthosilicate (Silica Sol Process)), Material (Superalloys, Steel, Aluminum, Titanium, and Others), Application (Automotive, Aerospace & Military, Oil and Gas, Energy, Medical, and Others), and Region 2024-2032”, The global investment casting market size reached US$ 16.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 22.2 Billion by 2032, exhibiting a growth rate (CAGR) of 3.1% during 2024-2032.
Factors Affecting the Growth of the Investment Casting Industry:
- Growing Demand from Aerospace and Automotive Sectors:
The investment casting market is growing because aerospace and automotive industries need strong, precise parts. Investment casting is ideal for making parts that can handle tough conditions. In aerospace, parts like turbine blades and engine components are made this way because they are light and strong. In automotive, manufacturers use it for parts like engine blocks to make cars lighter. As these industries keep growing, the demand for high-quality castings will increase.
- Technological Advancements and Process Innovations:
Technology is making investment casting better. New tools like 3D printing help speed up production and allow for more complex designs. New materials are improving how parts perform, especially in high-heat situations. Automation and robots also make casting more precise and lower costs. These advances will keep the market growing and encourage innovation.
- Growing Focus on Sustainability and Eco-friendly Practices:
Sustainability is becoming more important in investment casting. Manufacturers are working to reduce waste and energy use. Using recyclable materials and eco-friendly methods helps meet environmental goals. Companies are also recycling metal scrap and other materials to be more efficient. Businesses that adopt these eco-friendly practices will have a competitive advantage.
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Leading Companies Operating in the Global Investment Casting Industry:
- Alcoa Corporation
- CIREX bv (Signicast Corporation)
- Dongfeng Metal Products Co. Ltd.
- Dongying Giayoung Precision Metal Co. Ltd.
- Impro
- MetalTek
- Milwaukee Precision Casting
- Ningbo Jiwei Melt Mould Castings Co. Ltd.
- Ningbo Wanguan
- Precision Castparts Corporation
- RLM Industries
- Taizhou Xinyu Precision Casting Co. Ltd.
- Zollern
Investment Casting Market Report Segmentation:
Breakup By Process Type:
- Sodium Silicate Process
- Tetraethyl Orthosilicate (Silica Sol Process)
Breakup By Material:
- Superalloys
- Steel
- Aluminum
- Titanium
- Others
Breakup By Application:
- Automotive
- Aerospace & Military
- Oil and Gas
- Energy
- Medical
- Others
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Investment Casting Market Trends:
In 2024, the investment casting market will focus on new materials and alloys, especially for industries like aerospace and energy. Manufacturers will create stronger, easier-to-use materials. Smart technologies like IoT and AI will improve production and quality control. Sustainability will remain a key focus, with efforts to reduce waste and use greener practices. The market will grow because of innovation, sustainability, and new technologies.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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