Westford,USA, Dec. 10, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the investment casting market size will attain a value of USD 25.90 billion by 2031, with a CAGR of 5.1% over the forecast period (2024-2031). Surging demand for complex and lightweight components across multiple industry verticals such as aerospace and automotive are slated to drive the global investment casting market growth. Advancements in material technologies and emphasis on the development of precise products with better finish will also uplift the adoption of investment casting going forward.
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Browse in-depth TOC on "Investment Casting Market"
- Pages - 202
- Tables - 95
- Figures – 76
Investment Casting Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 17.39 Billion |
| Estimated Value by 2031 | $ 25.90 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing demand for high-performance and lightweight components |
| Key Market Opportunities | Use of simulation software and computer aided design (CAD) software |
| Key Market Drivers | Increasing adoption of investment casting in aerospace and automotive industry verticals |
Exceptional Versatility of Steel Allows to Spearhead Investment casting Demand
Steel investment casting is forecasted to account for the largest investment casting market shareover the coming years. High durability, strength, flexibility, and versatility of steel for multiple applications and industries allows it to hold sway over other segments. Growing use of steel investment castings in industries such as automotive and aerospace will help its dominant stance going forward.
Demand for High-Performance Components with Precision Makes Aerospace a Highly Opportune End User
The aerospace industry is estimated to provide lucrative opportunities for all companies as per this investment casting market forecast. Growing need for high precision and high-performance components that can withstand extreme conditions without compromising reliability is estimated to bolster the demand for investment casting in this industry. Rising investments in the development of advanced aircraft will also create new business scope for investment casting companies through 2031.
Quick Adoption of Smart Manufacturing Technologies Aids North America to Emerge as the Top Regional Market
Companies in the North American region have been quick to adopt smart and advanced manufacturing technologies, making it the leading regional market in the global investment casting industry. The presence of a strong technological infrastructure along with robust aerospace and automotive industries will also help this region maintain its lead in the global investment casting demand outlook. Targeting Canada and the United States will help investment casting companies maximize their revenue generation potential in the North American region going forward.
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Investment Casting Market Insights:
Drivers
- High demand for lightweight and high-performance components
- Rising demand for better product finish and efficiency in manufacturing
- Growing adoption of investment casting in automotive and aerospace industries for the development of complex components
Restraints
- Time consuming nature of investment casting process
- Environmental and sustainability concerns owing to high energy consumption and waste generation
- High costs compared to other types of manufacturing processes
Prominent Players in Investment Casting Market
The following are the Top Investment Casting Market Companies
- Precision Castparts Corp (US)
- Arconic Inc (US)
- Alcoa Corporation (US)
- Howmet Aerospace Inc (US)
- Allegheny Technologies Incorporated (US)
- WITTENSTEIN SE (Germany)
- Dongying Giayoung Precision Metal Co., Ltd. (China)
- Signicast LLC (US)
- MetalTek International (US)
- ZOLLERN GmbH & Co. KG (Germany)
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Key Questions Answered in Investment Casting Market Report
- Which region is expected to bring in the most revenue?
- Which industry is projected to provide lucrative opportunities?
- Who are the top companies as per this investment casting market analysis?
- How can market players overcome the issue of high installation costs?
This report provides the following insights:
- Analysis of key drivers (growing demand for high precision and high-performance components, increasing adoption in automotive and aerospace industries), restraints (environmental concerns due to high energy consumption, time-consuming process), and opportunities (use of simulation software and computer-aided design (CAD) software) influencing the growth of investment casting market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the investment casting market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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