Discover the crucial role of investment casting in industries like aerospace, automotive, and healthcare, as it fuels demand for high-quality metal components with intricate designs and precise tolerances.
The Global Investment Casting Market had a valuation of USD 15.7 billion in 2022 and is anticipated to attain USD 24.5 billion by 2032, experiencing a robust revenue compound annual growth rate (CAGR) of 4.5% over the forecast period. The primary driving force behind this revenue expansion is the increasing demand for intricate and high-quality metal components in various industries such as aerospace, automotive, and healthcare.
Investment casting, also known as lost wax casting, is a manufacturing technique utilized to produce intricate metal parts with exceptional accuracy and precision. In this process, liquid metal is poured into a wax mold, which is subsequently heated and removed, leaving behind a hollow space that is subsequently filled with metal. This approach provides substantial design flexibility and enables the creation of complex shapes with precise tolerances.
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Top Companies: Alcoa, CIREX, Precision Castparts, Milwaukee Precision Casting, Zollern, RLM Industries, MetalTek, Dongying Giayoung, Impro and Amtek Group, among others.
Strategic Development:
- In 2021, Signicast LLC announced its acquisition of the European investment casting operations of Form Technologies, a global leader in advanced metallurgical solutions. This acquisition is aimed at expanding Signicast's global footprint and strengthening its position in the investment casting market.
- In 2021, Empire Investment Casting Co. announced the expansion of its production capacity in the U.S. with the addition of a new production facility. This expansion is aimed at meeting the growing demand for investment casting products in various end-use industries, including aerospace, defense, medical, and automotive.
- In 2020, Alcoa Corporation announced the launch of a new advanced 3D Printing metal powder production facility in Pennsylvania, USA. This new facility will provide high-quality metal powders for advanced manufacturing technologies such as investment casting, Additive Manufacturing, and injection molding.
- In 2020, Arconic Inc. announced the acquisition of a leading aerospace and defense casting supplier, RTI International Metals, Inc. This acquisition is aimed at strengthening Arconic's product offerings in the aerospace and defense end-use industries and expanding its presence in the investment casting market.
- In 2019, Uni-Cast announced the completion of its expansion project at its facility in New York, USA. This expansion includes the addition of a new investment casting production line and is aimed at meeting the growing demand for investment casting products in various end-use industries, including defense, aerospace, and medical.
The global Investment Casting market is segmented into:
PARAMETERS:DETAILS
By Product Type Outlook:
- Steel
- Aluminum
- Copper
- Others
By End-use Industry Outlook:
- Aerospace & Defense
- Automotive
- Medical
- Industrial
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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