Investment Casting Market Size Worth $ 28,449.1 Million by 2025 at 5.25% CAGR – Report by Market Research Future (MRFR)
Market Research Future
5 min read
Investment Casting Market Insights and Industry Analysis by Type (Silica Sol Process, Sodium Silicate Process), Application (Aerospace & Military, General Industrial, Industrial Gas Turbines, Automotive, Others) and Region (Europe, Asia-Pacific, North America, Latin America and Middle East & Africa), Competitive Market Size, Share, Trends, and Forecast
New York, US, June 22, 2021 (GLOBE NEWSWIRE) -- Investment Casting Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Investment Casting Market - Information by Type, Application, and Region - Forecast till 2025” the market is projected to cross USD 28,449.1 Million by 2025 at 5.25% CAGR.
Market Scope:
Investment Casting is also known as lost-wax casting. Investment Casting Market development is bolstered by the Elevated Demand for Investment Casting metal procedures in the assembling of highly durable and precision machinery. Additionally, the handling of the investment casting process in OEM vehicles is also growing. Therefore, the collective production and sale of automobiles are projected to increase the requirement for investment casting and the evolution of the global market. The industrial process is chiefly determined by the widespread use of this technique in the construction of aircraft components and precision parts for industrial machines. The mechanisms exploited in the making of aircraft require cutting-edge engineering materials and multifaceted configuration. The industries of dairy, packaging, chemical, mining, pharmaceutical, food, and power require exact stainless-steel casting in diverse sizes and shapes, and the advantage of investment casting techniques are likely to augment the application of Investment Casting in the industrial sector.
Dongying Gia Young Precision Metal CO., LTD (China)
Milwaukee Precision Casting, INC (US)
Precision Castparts CORP (US)
Alcoa Corporation (US)
The Digital Manufacturing Centre (DMC) has revealed a collaboration with Enable Manufacturing that will understand the latter’s Additive Casting technology obtainable to the former’s clientele from March. the DMC has been advanced to control digital manufacturing technologies to deliver serial production components to a mass of industries. The facility, established up by KW Special Projects, is opening its doors in the first quarter of 2021, with a procedure that can manufacture parts in more than 130 diverse metals.
The Investment Casting Market is segmented based on Type and Application.
Based on the Type, the investment casting market is further subdivided into processes like Sodium silicate process and Silica sol process. The silica sol process segment was responsible for around 60% segment of the Global Investment Casting Market.
Based on the Appliaction, the investment casting market is further subdivided into Aerospace and Military and Automotive, and General industrial Applications. The aerospace & military segment is the main market followed by the general industrial segment.
The investment casting market is divided into the following based on the regions:
The Investment Casting Market can be geographically segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Asia Pacific Investment Casting Market is anticipated to be the principal market owing to the development of the automotive business in the region and growing requirement for investment casting products such as turbine wheels, valve plates, brackets, vanes and wheel carriers, and levers. The mounting elderly population in the region combined with collective spending on healthcare is anticipated to increase the usage of investment casting and propel the development of the Regional Investment Casting Market. The European regional markets for investment casting is estimated to be further motivated by the presence of favorable policies for business setup in the region.
In the North American Investment Casting Market, the US is the largest producer and exporter of aircraft, and the fleet count in North America stood accounts for 29% of the commercial air transport fleet. Also, the US ranked second in the manufacture of automobiles in 2018 with 11,314,705 units, which is estimated to redouble in the coming years and drive the development of the investment casting market during the forecast period.
Stratasys Ltd., a frontrunner in polymer 3D printing solutions, declared it has purchased UK-based RP Support Ltd. (RPS), a supplier of industrial stereolithography 3D printers and solutions. RPS’ complementary technology additionally expands Stratasys’ polymer set of solutions through the product life cycle, from manufacturing to concept modeling. Stratasys will impact its industry-leading go-to-market setup to progress RPS’ Neo line of systems to the global market with a progressive set of applications. Stratasys expects the purchase to be marginally accretive to income and non-GAAP per-share earnings by the end of 2021. Industrial stereolithography systems are well-established in the 3D printing industry for applications such as investment casting patterns, tooling, orthodontic clear aligner molds, anatomical modeling, and large design components.
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