INVESTMENT CASTING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Investment Casting Market Analysis:

Currently, the investment casting market has been valued at USD 14.09 billion, with an expected growth to reach USD 17.57 billion, registering a CAGR growth of 4.58% over the forecast period.

The COVID-19 outbreak has had a profound impact on various industries worldwide, with a significant decline in global demand. As economies are gradually recovering, companies are re-evaluating their strategies and operational plans for the post-pandemic period. Despite the challenges, the investment casting market is expected to grow positively during the forecast period.

The demand for investment casting is primarily driven by the aerospace and military industry, which requires various aircraft, helicopter, and jet components produced through investment casting. These components include flight-critical and safety components, landing and braking components, and hydraulic fluid system components, all of which are crucial to the safety of the aircraft.

However, the demand for investment castings is hindered by factors such as manufacturing costs and high energy consumption. To overcome these challenges, foundries are collaborating to innovate advanced casting technologies using simulations, which is likely to reduce shop-floor time and increase casting yield.

Currently, North America leads the investment casting market, with the expansion of the manufacturing, medical, and aerospace and military sectors contributing to the region’s growth. Asia-Pacific is projected to be the fastest-growing region over the forecast period, with China leading the region’s growth as one of the significant contributors to the investment casting industry’s expansion.

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