The global Investment Casting market size is expected to reach USD 26.12 billion by 2030 and exhibit a CAGR of 5.2% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing aerospace and defense industry’s demand for complex and lightweight components, growth in the automotive sector, the expanding energy and power generation industry, the use of investment casting in the medical and dental sectors, and its application in the manufacturing of industrial gas turbines are fueling the market’s growth.
Westford, USA, Feb. 09, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Investment casting market, the growing adoption of 3D printing and additive manufacturing for pattern making, the increased use of automation and robotics in the casting process, the development of advanced materials and alloys for improved performance, and the emphasis on sustainability and environmental considerations are the trends that aid in the market’s growth.
Browse in-depth TOC on “Investment Casting Market”
- Pages – 157
- Tables – 95
- Figures – 76
Investment casting is a precision casting process that uses patterns made of wax, resin, or other materials to create molds. The molds are then filled with molten metal, which solidifies to form the desired shape. Investment casting is used to produce a wide variety of products, including medical implants, aerospace components, and jewelry.
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Prominent Players in Investment Casting Market
- Precision Castparts Corp.
- Arconic Inc.
- Allegheny Technologies Inc.
- Howmet Turbine Components Corp.
- Vesuvius PLC
- Saint-Gobain S.A.
- CeramTec GmbH
- Kyocera Corporation
- Sumitomo Metal Mining Co., Ltd.
- Hitachi Metals Ltd.
- Nippon Steel & Sumitomo Metal Corporation
- TATA Steel Ltd.
- Bharat Forge Ltd.
- Sundaram Clayton Ltd.
- Poongsan Corporation
- Dongshin Precision Casting Co., Ltd.
- Hanyang Precision Casting Co., Ltd.
- TaeguTec Ltd.
- Samwon Precision Casting Co., Ltd.
- Daelim Industrial Co., Ltd.
Non-ferrous Materials Demand to Grow Substantially in the Forecast Period
Non-ferrous Materials dominate the global online market as they offer significant weight savings, making them highly desirable in industries like aerospace and automotive, where weight reduction is critical for fuel efficiency and performance.
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Aircraft Engine Parts is the Leading Application Segment
In terms of application, the Aircraft Engine Parts are the leading segment as the aerospace industry relies heavily on investment casting for critical components, such as turbine blades, vanes, and other parts within aircraft engines. These components require high precision and the ability to withstand extreme temperatures and stress, making investment casting a preferred manufacturing method.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a significant industrial and economic capacity, providing opportunities for investment casting companies to thrive. This allows the region to produce high-precision and complex investment castings that meet the demanding requirements of industries like aerospace and automotive.
A recent report thoroughly analyzes the major players operating within the Investment Casting market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Investment Casting.
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Key Developments in Investment Casting Market
- Winsert, an advanced manufacturer specializing in critical metal parts, announced its acquisition of Alloy Cast Products Inc., an investment casting and machining company. This strategic move is expected to foster the mutual growth of both companies and unlock untapped opportunities in new product segments during their upcoming tenure.
Key Questions Answered in Investment Casting Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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