Investment Casting - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Investment Casting Market is accounted for $15.28 billion in 2019 and is expected to reach $25.29 billion by 2027 growing at a CAGR of 6.5% during the forecast period. Some of the key factors propelling the market growth include increasing penetration of investment casting in automotive industry for the development of advanced components, decentralized power generation, optimization of the casting process through simulations, and rising trend of pipeline connectivity and movement of natural gas. However, need for high initial capital investment is restraining the market growth.
Investment casting process is a foundry process by which a metal part is produced from an investment mold that is formed by a heat-disposable pattern such as wax. This process is also termed as the lost wax method. These castings are commonly used in defense aircraft, launch vehicles, helicopters, regional jets, and commercial transport. Investment casting process is known for its highly accurate, and, near-net-shape.
By application, energy technology segment is expected to observe the significant growth during the forecast period. The segment comprises of energy solutions such as turbine blades, fuel nozzles, combustion hardware, seal hardware, air boxes, and tabulation tubes. Increasing wind power capacity installations around the globe is likely to positively influence the demand for turbine blades, which in-turn is projected to influence the market.
On the basis of geography, Asia-Pacific is expected to be the significant growing market for investment casting due to the growth of the automotive industry in the region and increasing demand for investment casting products such as turbine wheels, valve plates, vanes, wheel carriers, brackets, and levers. The growing geriatric population in the region coupled with increasing expenditure on healthcare is projected to increase the use of investment casting and drive the growth of the regional market. China and India are automotive hubs with large number of automotive OEM’s shifting their manufacturing facilities to these countries. This has influenced the demand for aluminium castings in these countries in the past couple of years.
Some of the key players in investment casting market include Milwaukee Precision Casting, Anhui Yingliu Electromechanical Co., Ltd., RLM Industries, Dongying Giayoung, Arconic, Inc., Investment & Precision Castings Ltd, Zollern GmbH & Co. KG., ATI, Bharat Forge Ltd., Amtek Group, CIREX, ABB, Hitachi Metals, Ltd., Alcoa Corporation, Doncasters Group Ltd., ThyssenKrupp AG, Impro Precision Industries Limited, Precision Castparts Corp., MetalTek International, and Aristo Cast Corporation.
• Other Materials
Distribution Channels Covered:
• Distributor Sales
• Direct Sales
• Oil & Gas
• Energy Technology
• Aerospace & Defense
• Food & Beverage Processing
• Packaging Industry
• Mechanical Engineering
• Industrial Gas Turbines
• General Industrial Machinery
• Tetraethyl Orthosilicate
• Sodium Silicate Process
• Silica Sol Process
• Ceramic Mold
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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