Investment Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Investment Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global investment casting market size reached US$ 16.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.

Investment casting, or lost-wax casting, refers to an industrial manufacturing process that involves dipping of wax patterns or structures into the slurry of refractory material to form a ceramic, plaster or plastic shell. The wax pattern is further melted into a furnace and metal is poured into the shell to create a casting. This process is commonly used to manufacture machinery components, automotive components, turbine blades, dental fixtures, etc. It minimizes the wastage of energy, material and subsequent machining and aids in creating intricate designs with accurate and smooth finishing. As a result, this process finds extensive applications across various industries, such as automotive, aerospace, military, medical and oil and gas.

Investment Casting Market Trends:

Significant growth in the aviation and aerospace industry in recent years is one of the key factors creating a positive impact on the market. In line with this, investment casting processes are extensively used in the manufacturing of military aircraft, jets, launch vehicles, helicopters, and commercial transport vehicles. Furthermore, increasing environmental consciousness and enhanced focus on sustainable development are also driving the market growth. The wax used for investment casting is usually melted and reused for manufacturing components of different shapes and sizes. Additionally, various technological advancements, such as improvements in casting processes through simulations and the utilization of metal additive manufacturing practices, all-in-one 3D printing, X-ray defect detection and casting and forging techniques, are acting as other growth-inducing factors. These processes aid in the production of cost-effective, stable and structurally durable products. Other factors, including rapid industrialization, along with extensive research and development (R&D) activities, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global investment casting market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on process type, material and application.

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


Breakup by Region:

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


Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 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. and Zollern.

Key Questions Answered in This Report:

What was the size of the global investment casting market in 2022?
What is the expected growth rate of the global investment casting market during 2023-2028?
What has been the impact of COVID-19 on the global investment casting market?
What are the key factors driving the global investment casting market?
What is the breakup of the global investment casting market based on the process type?
What is the breakup of the global investment casting market based on the material?
What is the breakup of the global investment casting market based on application?
What are the key regions in the global investment casting market?
Who are the key players/companies in the global investment casting market?