USD 16.55 Billion
Investment Casting Market Size, Share, Growth Analysis, By Type(Silica Sol Process, Sodium Silicate Process), By Application(Aerospace & Defense, Automotive, Oil & Gas), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20A2191 |
Region:
Global |
Published Date: December, 2024
Pages:
202
|Tables:
95
|Figures:
76
Investment Casting Market Insights
Investment Casting Market size was valued at USD 17.39 Billion in 2023 and is poised to grow from USD 18.28 Billion in 2024 to USD 27.22 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).
The demand for investment cast products is rapidly increasing due to the rise in air passenger traffic, which is growing the production of new commercial aircraft. Moreover, passenger traffic is increasing mainly due to the rising per capita income and positive GDP across the globe, which is rising the demand for new commercial aircraft. Furthermore, the market is witnessing rapid growth due to investments and relief packages provided by the government to various industries such as construction, automotive, defense & aerospace, railways, infrastructure, transportation, and medical. This is expected to positively impact on the investment casting market growth in the said forecast period.
Incorporation of automation in the investment casting process will allow manufacturers to increase efficiency and minimize lead time. Multiple robotic arms are increasingly being utilized by large-scale factories to accomplish tasks like wax model design, wax removal, and shell manufacturing. Manufacturers are expected to increase capacity and efficiency because of the shift toward automation. Moreover, agricultural equipment with high durability and long-life cycles for robust agricultural applications are manufactured using investment casting technology. Thus, increasing demand of investment casting for various applications industries is expected to drive the market growth during the forecast period.
US Investment Casting Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
5.1% CAGR
Global Investment Casting Market ($ Bn)
Country Share for North America Region (%)
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Investment Casting Market Segmental Analysis
Global Investment Casting Market is segmented by Type, by Application, and by Region. Based on Type, the market is segmented into Silica Sol Process, Sodium Silicate Process. Based on Application, the market is segmented into Aerospace & Military, General Industrial, Industrial Gas Turbines, Oil & Gas, Medical, Mechanical Engineering, Food & Beverages and Packaging Industry, Energy Technology, Transportation, Automotive, Others. Based on End User, the market is segmented into automotive, consumer electronics, healthcare, agriculture, manufacturing, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Application
Based on application, the aerospace & defence segment is dominating the market with the largest investment casting market share. Investment cast products are majorly used in the aerospace industry for providing a vast range of critical applications. Highly engineered castings such as cable clamps, ball bearings, fuel valves, fuel manifolds, landing gear, brake systems, pitot probes, and other sensors are manufactured using the investment casting process. Key participants in the aerospace sector are opening new facilities for meeting the rising demand for satellites along with commercial and private jets. These new facilities can produce more goods that are in demand. For example, the Swedish company Saab AB plans to establish a new aircraft plant in West Lafayette, Indiana, in October of 2021.
The mechanical engineering segment is witnessing the fastest growth in the investment casting market. This is because it is one of the primary capital goods suppliers and also has high demand for investment casting. A rapid growth in production activities is anticipated to complement industry growth, thereby augmenting the demand for investment castings over the forecast period. Agricultural equipment with high durability and long-life cycles for robust agricultural applications is manufactured using investment casting technology. The increasing demand for shale gas is anticipated to further drive the demand for investment cast parts over the forecast period. Highly engineered cast products are utilized for land and offshore drilling operations as well as hydraulic fracturing applications.
Analysis by Type
Based on type, the sodium silicate process segment is dominating the investment casting market. The sodium silicate process is gaining traction due to its notable advantages in product launches. This method provides enhanced mold stability, reducing defects and improving overall casting quality. Additionally, the cost-efficiency of sodium silicate compared to other binders makes it an attractive option for manufacturers, enabling the production of complex and high-precision components at lower costs. The process also offers environmental benefits by being less hazardous and easier to handle, which has driven its widespread adoption across various industries, thereby propelling the investment casting market value in this segmentation.
As per investment casting market analysis, silica sol process segment is experiencing tremendous growth and popularity in recent years. The silica sol process segment is expected to register steadily fast revenue growth rate in the global investment casting market during the forecast period due to precision, surface quality, and corrosion resistance properties of silica sol. The unique quality for silica sol process is low viscosity, which allows it to absorb areas where water has soaked. As a result, when combined with other materials, silica soil exhibits good dispersion and permeability. Silica sol steel castings can have significantly superior surface quality and less geometrical deviation in dimensions, these are mostly utilized for goods with strong corrosion resistance and precise dimensions.
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Investment Casting Market Regional Insights
Asia-Pacific is dominating with the largest investment casting market share. The demand in the Asia-Pacific region is primarily driven by the consistently strong expansion of the manufacturing sectors of the automotive, aerospace, and industrial machinery industries. Because there are so many small- and medium-sized factories in the area, investment cast items are produced in greater quantity here than anywhere else in the world. Over 1,500 factories in China make components for the automotive and aerospace industries, making the country the leading producer of investment casting components in the Asia-Pacific region. With the availability of factories for automotive turbochargers, gas turbines, and biomedical applications, Japan is one of the emerging producers of investment cast parts. On the other hand, South Korea demonstrates an increased product demand in the automotive industry.
Over the course of the projected period, it is anticipated that Europe would expand with the highest growth rate. The region has seen a growth in the use of new generation alloys in aviation components due to the capacity of these alloys to endure high temperatures. This is anticipated to lead to an increase in the usage of these alloys in both commercial and military types of aircraft. The demand for investment casting in Europe's aerospace sector is anticipated to be driven throughout the forecast period by rising technological penetration in the production of high-performance alloy parts.
Global Investment Casting Market By Geography
- Largest
- Fastest
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Investment Casting Market Dynamics
Drivers
Increasing Spending on Aerospace & Military
- The expanding aerospace and military industries are major drivers of the demand for investment casting. This is because investment casting is used to produce a wide variety of applications and parts for aircraft, helicopters, and jets. Investment casting is also used to produce a variety of other parts and applications. These include flight critical and safety components, components for landing and braking, and components for the hydraulic fluid system; all of these are essential to ensuring the aircraft's continued operational viability.
Increasing Sustainable Requirements
- With increasing regulatory pressures and a global shift towards sustainability, the investment casting industry is not just adapting but leading the way towards eco-friendly practices. This includes the usage of sustainable materials, such as biodegradable waxes and recycled metals. Besides this, companies are also investing in technologies that lower energy consumption and reduce waste.
Restraints
Substantially High Manufacturing Cost
- The demand for investment castings is being held back by a few problems, such as the high cost of production and the extensive amount of energy it requires. However, foundries are working together to develop innovative advanced casting technologies using simulations to overcome these problems. If successful, this will likely decrease the amount of time spent on the shop floor and boost the casting yield.
Concerns Related to Foundry Hazard
- Environmental conditions related to the foundry hazards and concerns of foundry, the risk of increasing momentum in forging technique, and new alternatives of casting process are likely to give traction in the market, are the key challenges for this industry. Government rules for the industrial pollution are getting severe and thus, making some challenges for the development of casting business.
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Investment Casting Market Competitive Landscape
The leading market players have positioned themselves strongly by offering a wide range of investment cast products with various designs, materials, and specifications. Companies always tend to offer products using innovative and advanced methods to cope with customer demands. The new entrants or emerging players, especially in developing economies, are likely to gain opportunities to establish themselves in the global investment casting industry. Rising foreign investments and increasing government initiatives for the development of the automotive sector, mostly in India, Taiwan, and China, are expected to boost market growth over the forecast period.
Top Player’s Company Profile
- Arconic, Inc.
- Doncasters Group Ltd.
- MetalTek International
- Signicast
- Berkshire Hathaway
- Zollern GmbH and Co. KG
- Impro Precision Industries Limited
- Alcoa Corporation
- Winsert
- Georg Fischer Ltd
- Cirex
- Marle nowak - Fonderie de précision
- PBS Velka Bites
- Aero Metals
- Investacast
Recent Developments
- May 2024: GF Casting Solutions AG invested more than USD 184 Million in a new manufacturing facility in Augusta, Georgia, to manufacture cast aluminum parts.
- In October 2022, Winsert, an advanced manufacturer of the critical metal parts announced the acquisition of Alloy Cast Products Inc. With the help of this acquisition Winsert would tap into inexplored product segments.
- In August 2022, TriTech Titanium Parts, which is the spin-off company formed after AmeriTi Manufacturing launched its Detroit-based titanium parts for various markets. The company uses metal injection, 3-D binder jet printing, and investment casting technology for producing the products.
Investment Casting Key Market Trends
- Implementation of Advanced Technology: X-ray defect detection, all-in-one 3D printing, casting and forging techniques, and other technological advancements are all contributing to the creation of new opportunities for business expansion. Improvements in casting processes can be achieved through computer simulations and the implementation of metal additive manufacturing practices.
- Minimalized Material Usage: Investment casting minimizes material waste, which is a critical consideration in an era where sustainability is becoming increasingly important. By utilizing this technique, manufacturers can optimize material usage, thereby reducing costs and environmental impact. Industries are also focusing on integrating advanced materials, such as titanium and aluminium alloys, which can be effectively processed through investment casting to produce lightweight parts.
Investment Casting Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growth in aerospace & defence sector is propelling the investment casting market development. Investment casting plays a major role in the manufacture of temperature-sensitive components employed in jet engines and industrial gas turbines. Integration of additive manufacturing in investment casting is also boosting the market statistics. Rapid Investment Casting (RIC), which represents the utilization of additive manufacturing technologies in investment casting, is gaining traction in many industries as it is cost-effective and timesaving. Key players operating in the investment casting market landscape are manufacturing and supplying investment castings, permanent mold castings, shell mold castings, and precision machined parts for various aerospace applications.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 17.39 Billion |
| Market size value in 2032 | USD 27.22 Billion |
| Growth Rate | 5.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Investment Casting Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Investment Casting Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Investment Casting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Investment Casting Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Investment Casting Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Investment Casting Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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