Global Investment Casting Market Research Report 2025
Summary - A new market study, titled “Global Investment Casting Market Research Report—Forecast till 2025 ” has been featured on WiseGuyReports.
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 (North America (US, Canada), Europe(Germany, UK, Russia, France,
Spain, Italy, Belgium, and Poland), Asia-Pacific (China, India, Japan,
Australia & New Zealand, Indonesia, South Korea, Thailand), Latin
America(Brazil, Mexico, and Argentina), and the Middle East & Africa (GCC,
South Africa, Iran, Israel, Egypt))—Forecast till 2025
Market Analysis
Investment casting, also known as the lost wax method, is a
process which involves production of a metal part from an investment mold. This
process helps in minimizing material waste, energy, and machining. Investment
casting is majorly used to produce metal parts for the aerospace, industrial,
gas turbine, and automotive industries. High demand for investment casted
products in the aerospace & defense industry coupled with the increased
defense spending by the developed as well as developing economies is the major
factor driving the market growth. According to MRFR analysis, the global
investment casting market is expected to register a healthy CAGR of over 5% to
reach USD 28,449.1 million by the end of 2025. The growth of the global market
is primarily driven by the expanding aerospace industry and increasing adoption
of investment casted products in the industrial sector. The demand for
commercial aircraft is increasing across the globe which has increased the
application of investment casting. For instance, Airbus forecasts demand for
approximately 37,400 new passenger and freight aircraft over the next two
decades. The commercial aircraft fleet is estimated to grow by 3.3% every year
and double in number from 22,510 in 2017 to 45,240 in 2035. Furthermore,
investment casting plays a vital role in the manufacturing of medical implants.
The expanding medical industry is expected to create lucrative opportunities
for market players. However, the growing popularity of alternatives such as 3D
printing and sand casting is likely to hamper the market growth in the coming
years. In addition, the availability of economical casting process is expected
to be the prime challenge for the market players.
Market Segmentation
The global investment casting market has been segmented based on
type, application, and region. Based on type, the market has been segmented
into silica sol process and sodium silicate process. The silica sol process is
expected to be the fastest growing segment at a CAGR of 5.40% owing to its
increasing application in the aerospace industry. Silica sol process is used to
cast complex parts that are difficult to machine, especially for the aerospace
industry. The use of silicon dioxide (SiO2) and sodium oxide enhances the key
feature of the component—stability. Several methods are used to make silica sol
such as dialysis method, acidification method, ion exchange method, hydrolysis
method, and gel glue solution method, among others. By application, the
aerospace & military is the largest consumer and is expected to register
the highest CAGR of around 6% during the assessment period. The high demand for
investment casting in the manufacturing of interior components, motion control,
bearing cages, hydraulic fluid system, exterior and interior sensors and
actuation systems is projected to drive the market growth.
Regional Analysis
Geographically, global investment casting Market has been split
into regions like North America, Europe, Asia-Pacific, the Middle East and
Africa, and Latin America. Asia-Pacific is the largest regional market with a
share of 41% in 2018. China and Japan are the major contributors to the growth
of this regional market. The expanding aerospace industry in Asia-Pacific is
projected to be the prime contributor to the market growth. According to the
Association of Asia Pacific Airlines, the aviation industry in the region
generated USD 218 billion and USD 8.2 billion net profit in 2017. North America
accounted for the second-largest share in 2018 and is expected to witness
healthy growth during the forecast period. The growth of the regional market is
mainly attributed to the presence of a large number of largescale aerospace
& defence industry in the US and increasing investments by the government
to support the growth of defence sector in the country. According to the US
Department of Commerce, Bureau of the Census, Foreign Trade Division, the total
exports of the US aerospace industry held at USD 150.61 billion in 2018, which
increased from USD 143.17 billion in 2017. The fleet count for the North
American market stood at 8,495 in 2017, which accounts for 29% of the
commercial air transport fleet. This fleet count is likely to reach 9,156 by
2027, as per the IATA. According to the Aerospace Industries Association, the
production of civil aircraft in the US increased by 6% in 2017, wherein 2,808
units were produced for commercial and government customers.
Major Players
Alcoa Corporation (US), Signicast (US), Precision Castparts CORP
(US), CIREX (The Netherlands), Zollern GMBH & CO. KG (Germany), Milwaukee
Precision Casting, INC (US), RLM Industries, INC (US), Metaltek International
Inc (US), Dongying Gia Young Precision Metal CO., LTD (China), and American
Casting Company (US) are some of the major players in the global investment
casting market. The key players operating in the global investment casting market
are primarily focusing on lowering the environmental footprint and making
investments in research and development. The market witnessed only one key
development during the past five years, i.e., in January 2019, Dongfeng
Precision Casting Co., Ltd inaugurated a new site and intelligence factory,
with a land area of 59,300 square meters and a building area of 43,000 square
meters. However, with the growth of the automotive and aerospace industries,
the demand for investment casted products is expected to increase. The high
demand is expected to influence the manufacturers to adopt strategic growth
initiatives such as expansion, mergers, agreements, and acquisitions during the
forecast period. This is further projected to intensify the degree of rivalry amongst
the existing players.
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