Investment Casting Market Analysis, Growth Forecast by Regions and Applications to 2030

Posted on 2023-01-05 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, Jan 05, 2023 — /EPR Network/ —

Investment Casting Industry Overview

The global investment casting market size was valued at USD 15.83 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2022 to 2030.

An increase in air passenger traffic is projected to assist in the production of new commercial aircraft creating a positive impact on the demand for investment cast products. The increase in passenger traffic is closely attributed to the increasing per capita income and positive GDP across the globe, which has increased the demand for new commercial aircraft. For instance, in 2021, Airbus delivered 611 commercial aircraft, which was 8% more than in 2020. Similarly, Boeing delivered 340 commercial aircraft in 2021. The U.S has recovered from the economic contraction in 2020 caused by the COVID-19 pandemic. The economy’s real GDP increased 5.7% in 2021 from a decrease of 3.4% in 2020.

Gather more insights about the market drivers, restrains and growth of the Global Investment Casting Market

The growth is attributed to investments and relief packages provided by the government to various industries including construction, automotive, defense & aerospace, railways, infrastructure, transportation, and medical. This, in turn, is expected to positively impact the market growth in the said forecast period.

In the U.S, aerospace & defense emerged as a dominant segment in 2021 and accounted for a revenue share of more than 62.0%. Owing to the rise in demand for satellites and commercial & private jets, key players in the aerospace industry are opening new plants to cater to the demand. For instance, in October 2021, Saab AB open its new aerospace plant in West Lafayette, Indiana.

Medical sector is another rapidly growing application segment of the market. The national health expenditure of the U.S. grew by 9.7% to reach USD 4.1 trillion in 2020, which was 19.7% of the country’s GDP. The hospital expenditure grew by 6.4%, which amounted to USD 1,270 billion in 2020. The growing investment in the medical industry is expected to propel the demand for investment cast products in the said forecast period.

Automation integration in the investment casting process, for example, is anticipated to enable manufacturers to optimize efficiency and minimize lead time. Multiple robotic arms are increasingly being used by large-scale factories to accomplish tasks such as wax model design, wax removal, and shell manufacturing. Manufacturers are expected to increase capacity utilization and efficiency because of the shift toward automation.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

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Investment Casting Market Segmentation

Grand View Research has segmented the global investment casting market based on application and region:

Application Outlook (Revenue, USD Billion, 2017 – 2030)
- Aerospace & Defense
- Automotive
- Oil & Gas
- Medical
- Mechanical Engineering
- Automation
- Food & Beverages and Packaging Industry
- Energy Technology
- Transportation
Regional Outlook (Revenue, USD Billion, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Investment Casting market include

Arconic, Inc.
Doncasters Group Ltd.
Hitachi Metals, Ltd.
MetalTek International
Signicast
Precision Castparts Corp (Berkshire Hathaway)
Zollern GmbH and Co. KG
Impro Precision Industries Limited

Order a free sample PDF of the Investment Casting Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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