Global Investment Casting Market Research Report 2025
Summary - A new market study, 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
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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