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Investment Casting Market Size Worth USD 24.43 Billion in 2032 | Emergen Research
Investment Casting Market
Key Market Drivers:
The aerospace and automotive sectors are witnessing a surge in demand for investment casting due to the need for strong yet lightweight components. Investment casting offers advantages such as reduced material waste, energy consumption, and machining, making it an attractive option for industries seeking cost-effective manufacturing solutions.
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In the medical sector, investment casting is essential for producing precise and intricate parts for orthopedic implants, dental prostheses, surgical instruments, and medical devices. The process ensures high integrity, smooth surface finishes, and exact measurements, meeting the stringent standards of the medical industry.
Market Restraints:
Despite its benefits, the investment casting process faces challenges such as high production costs and lengthy manufacturing schedules, especially for specialized medical products. Manual labor and material costs contribute to the overall expense, making it less viable for small-volume production.
Market Trends:
A notable trend in the investment casting market is the increasing utilization of investment casting in the oil and gas industry. Investment casting is favored for its ability to produce intricate, near-net-shaped parts with minimal machining, catering to the demanding applications in the energy sector.
Segment Insights:
Investment Casting Types:
The market is segmented into silica sol process and sodium silicate process. Sodium silicate process dominates the market, offering flexibility and cost-effectiveness for casting intricate geometries.
Investment Casting Materials:
Steel alloy leads the market due to its versatility and cost-effectiveness. Aluminum alloy is also gaining traction for its superior mechanical properties and affordability.
Applications:
The automotive segment holds the largest revenue share, followed closely by aerospace. Investment casting revolutionizes the manufacturing of auto components, providing superior strength and surface quality, while also meeting the demand for strong and lightweight aerospace components.
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Outlook:
With increasing demand from multiple sectors and ongoing advancements in casting technology, the investment casting market is poised for steady growth in the coming years. Manufacturers are expected to focus on innovation and cost optimization to address market challenges and capitalize on emerging opportunities.
Investment Casting Top Companies and Competitive Landscape
The global investment casting market is fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective investment casting solutions in the market.
• Signicast
• Alcoa Corporation
• Arconic
• Berkshire Hathaway Inc.
• Bharat Forge
• Dongying Giayoung Precision Metal Co., Ltd.
• Form Technologies
• Georg Fischer Ltd.
• Hitachi, Ltd.
• Impro Precision Industries Limited
• Lestercast Ltd.
• MetalTek
• Milwaukee Precision Casting
• Ningbo JWI Investment Casting Co., Ltd.
• Precision Castparts Corp.
• RLM Industries, Inc.
• Ryobi Limited
• Taizhou Xinyu Precision Manufacture CO., LTD
• Thyssenkrupp AG
• ZOLLERN GmbH & Co. KG
Investment Casting Latest Industry News
• On 8 July 2022, Alcoa Corporation (AA) announced to invest at its Deschambault smelter in Canada to increase its casting capabilities in North America. The project will be finished in the first quarter of 2023, with the new casting equipment being built in an existing structure. The site's two vertical casting pits, which cast just T-bar ingots, will be enhanced by the production of about USD 8 million return-seeking capital investment.
• On 25 February 2022, Bharat Forge acquired JS Auto Cast Foundry India Pvt. Ltd. (JS Auto), a casting company with its headquarters in South India. JS Auto, a prominent provider of machined critical castings for industrial applications, such as wind, hydraulic, and off-highway, recorded revenues of Rs. 259 crores in FY21 and maintained double-digit return ratios. By acquiring JS Auto, Bharat Forge hopes to strengthen its manufacturing foothold in southern India and expand its products in the industrial sector.
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Investment Casting Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global investment casting market on the basis of type, material, process technology, application and region:
• Type Outlook (Revenue, USD Billion; 2019-2032)
o Silica Sol Process
o Sodium Silicate Process
• Material Outlook (Revenue, USD Billion; 2019-2032)
o Aluminum Alloy
o Steel Alloy
o Titanium Alloy
o Nickel Alloy
o Cobalt Alloy
o Others
• Process Technology Outlook (Revenue, USD Billion; 2019-2032)
o Wax Pattern
o Ceramic Shell
o Vacuum Casting
o Robotics
o Three Dimensional (3D) Printing
o Others
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Aerospace
o Defense
o Medical
o Oil & Gas (O&G)
o Automotive
o Mechanical Engineering
o Energy
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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Emergen Research
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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