The global Investment Casting market size is expected to reach USD 26.12 billion by 2030 and exhibit a CAGR of 5.2% over the forecast period (2023–2030), according to the latest research report by Skyquest. The increasing demand of the aerospace and defense industry for complex and lightweight components, the growth in the automotive sector, the expansion of the energy and power generation industry, the use of investment pouring in the medical and dental sectors and its application in the production of Industrial gas turbines are driving the market growth.
Westford, USA, Feb. 09, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research on Investment disposal marketThe growing adoption of 3D printing and additive manufacturing for pattern creation, the increasing use of automation and robotics in the casting process, the development of advanced materials and alloys for improved performance, and an emphasis on sustainability and environmental considerations are the trends helping to market growth.
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Page – 157
Tables – 95
Figures – 76
Investment casting is a precision casting process that uses patterns made from wax, resin, or other materials to create molds. The molds are then filled with molten metal, which solidifies into the desired shape. Investment casting is used to manufacture a wide variety of products, including medical implants, aerospace components, and jewelry.
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Prominent players in the investment casting market
Precision Castparts Corp.
Allegheny Technologies Inc.
Howmet Turbine Components Corp.
Sumitomo Metal Mining Co., Ltd.
Hitachi Metals Ltd.
Nippon Steel & Sumitomo Metal Corporation
TATA Steel Ltd.
Bharat Forge Ltd.
Sundaram Clayton Ltd.
Dongshin Precision Casting Co., Ltd.
Hanyang Precision Casting Co., Ltd.
Samwon Precision Casting Co., Ltd.
Daelim Industrial Co., Ltd.
The demand for non-ferrous materials will increase significantly in the forecast period
Non-ferrous materials dominate the global online market as they offer significant weight savings, making them highly desirable in industries such as aerospace and automotive, where weight reduction is critical to fuel efficiency and performance.
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Aircraft engine parts are the main application segment
In terms of application, aircraft engine parts are the key segment as the aerospace industry relies heavily on investment casting for critical components such as turbine blades, blades 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 technological advancements
Regionally, North America is one of the largest growing markets with a strong emphasis on technological advancements. The region has significant industrial and economic capacity, offering opportunities for investment companies to thrive. This allows the region to produce high-precision and complex investment castings that meet the demanding requirements of industries such as aerospace and automotive.
A recent report thoroughly analyzes the key players operating in the Investment Casting market. This comprehensive assessment has taken into consideration several essential factors, such as collaborations, mergers, innovative business policies and strategies, providing invaluable insights into key trends and developments in the market. Furthermore, the report has scrutinized the market share of key segments and presented a detailed geographical analysis. Finally, the report has highlighted the key players in the industry and their continuous efforts to develop innovative solutions that cater to the ever-increasing demand for Investment Casting.
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Key developments in the investment market
Winsert, an advanced manufacturer specializing in critical metal parts, announced the acquisition of Alloy Cast Products Inc., a casting and machining investment company. This strategic move is expected to drive mutual growth of both companies and unlock untapped opportunities in new product segments during their next tenure.
Key Questions Answered in the Investment Market Report
Which specific growth drivers are anticipated to impact the market during the forecast period?
Can you list the leading companies in the market and explain how they achieved their positions of influence?
In what ways do regional trends and patterns differ within the global market, and how might these differences shape future market growth?
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