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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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Alcoa, CIREX, Precision Castparts, Milwaukee Precision Casting, Zollern, RLM Industries, MetalTek, Dongying Giayoung, Impro and Amtek Group, among others.
Market Segmentation by Types:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Sodium Silicate Process
- Silica Sol Process
- Tetraethyl Orthosilicate
- Ceramic Mold
Material Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Super Alloys
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Oil Gas
- Mechanical Engineering
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Investment Casting market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Further key findings from the report suggest
- 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.
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