Investment Casting Market Report by Process Type (Sodium Silicate Process, Tetraethyl Orthosilicate (Silica Sol Process)), Material (Superalloys, Steel, Aluminum, Titanium, and Others), Application (Automotive, Aerospace & Military, Oil and Gas, Energy, Medical, and Others), and Region 2023-2028
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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Process Type, Material, Application, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global investment casting market was valued at US$ 16.0 Billion in 2022.
We expect the global investment casting market to exhibit a CAGR of 3.6% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for investment casting processes.
The growing usage of investment casting processes to manufacture automotive components, turbine blades, dental fixtures, etc., as they minimize the wastage of energy and material as well as aid in creating intricate designs, is primarily driving the global investment casting market.
Based on the process type, the global investment casting market can be segmented into sodium silicate process and tetraethyl orthosilicate (silica sol process). Currently, sodium silicate process holds the majority of the total market share.
Based on the material, the global investment casting market has been divided into superalloys, steel, aluminum, titanium, and others. Among these, steel currently exhibits a clear dominance in the market.
Based on the application, the global investment casting market can be categorized into automotive, aerospace & military, oil and gas, energy, medical, and others. Currently, the aerospace & military sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global investment casting market include 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.
Need more help?
Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization
Get in Touch With Us
UNITED STATES
Phone: +1-631-791-1145
INDIA
Phone: +91-120-433-0800
UNITED KINGDOM
Phone: +44-753-713-2163
Email: sales@imarcgroup.com
Client Testimonials
IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.
The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required
We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra
We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.
The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.
The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.
My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.
I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.
We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.
IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.