The Global Investment Casting Market was valued at $17.2 Billion in 2020, Growing at a high CAGR of more than 4.7% between 2021 and 2031, it is estimated to reach $29.4 Billion by 2031. But, the current pandemic of COVID-19 might make a slight difference in the current year's growth rate. The investment casting process is a type of foundry technique or a heat-disposable pattern by which a metal part is manufactured from an investment mold formed such as wax. Increasing usage of the investment casting process in the transportation and automotive industry to develop advanced components, such as compressors, engine parts, and gearbox components, drives the market growth during the forecast period. The Rising military and aerospace industry, coupled with the different applications in aircraft, helicopters, and jets, are expected to drive the market's growth during the forecast period. Now, moving forward, the robust demand for the Global Investment Casting Market in the investment department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031.
Global Investment Casting Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Investment Casting market is segmented as type and application. Based on type, the global Investment Casting market is divided into Sodium Silicate Process and Tetraethyl Orthosilicate/ Silica Sol Process. Based on Application, the global Investment Casting market has been bifurcated as Aerospace & Defense, Automotive, Oil & Gas, Medical, Mechanical Engineering, Automation, Food & Beverages, and Packaging Industry, Energy Technology, and Transportation.
By Region, North America is Holding the Major Market Share
The Investment Casting Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America has a significant share among those regions. The regional market comprises developing nations whose development rate is faster than most of the developing countries in the world. The transportation and automotive sectors, coupled with mechanical engineering goods, such as pumps, industrial valves, and other machinery parts, drive the market growth during the forecast period. In addition to this, favorable rules and regulations and other potential factors are propelling the market growth. Apart from that, the Asia Pacific and Europe are expected to increase the growth rate in the upcoming forecast period of 2021 to 2031.
Major Players in the Global Investment Casting Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Signicast, MetalTek International, Milwaukee Precision Casting, Inc., Impro Precision Industries Limited, Alcoa Corporation, Zollern GmbH, and Co. KG, Precision Castparts Corp (Berkshire Hathaway), Georg Fischer Ltd., Dongying Giayoung Precision Metal, Taizhou Xinyu Precision Manufacture Co. Ltd, Arconic, Inc., Hitachi Metals, Ltd., Vestshell, RLM Industries, and Doncasters Group Ltd., among others.
The Global Investment Casting Market Has Been Segmented into:
Global Investment Casting Market: By Type
Global Investment Casting Market: By Application
Global Investment Casting Market: By Region