Investment Casting Market Is Expected To Reach US$ 20.1 Billion by 2028 – IMARC Group

Investment Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global market is primarily driven by the augmenting demand for advanced military equipment.

SHERIDAN, WYOMING, UNITED STATES, April 3, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled "Investment Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The global investment casting market size reached US$ 16.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Industry Definition and Application:

Investment casting, also known as lost wax casting, is an industrial manufacturing process that involves dipping wax patterns or structures into a slurry of refractory material to create a ceramic, plaster, or plastic shell. The shell is then used to cast the molten metal, resulting in a final product. It is widely used to manufacture various machinery components, automotive parts, turbine blades, and dental fixtures. It minimizes energy and material wastage, reduces subsequent machining requirements, and enables the creation of intricate designs with precise and smooth finishing. As a result, investment casting finds extensive applications in the automotive, aerospace, military, medical, and oil and gas industries across the globe.

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Investment Casting Market Trends and Drivers:

The global investment casting market is primarily driven by the increasing demand for advanced military equipment due to rising geopolitical conflicts and border threats across multiple countries. Additionally, increasing investments and funding to upgrade the existing defense infrastructure have augmented the product demand. Moreover, the rising use of investment casting in the aerospace industry in manufacturing helicopters, aircraft, and jets is positively influencing the market growth. Furthermore, key players are using the investment casting process as an alternative to traditional casting methods due to increasing environmental consciousness, which in turn is contributing to market growth. Other factors, including ongoing research and development (R&D) activities, rapid industrialization, and technological advancements, are also anticipated to drive the market further.

Investment Casting Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Alcoa Corporation
CIREX bv (Signicast Corporation)
Dongfeng Metal Products Co. Ltd.
Dongying Giayoung Precision Metal Co. Ltd.
Impro
MetalTek
Milwaukee Precision Casting
Ningbo Jiwei Melt Mould Castings Co. Ltd.
Ningbo Wanguan
Precision Castparts Corporation
RLM Industries
Taizhou Xinyu Precision Casting Co. Ltd.
Zollern.

The report has segmented the market on the basis on region, process type, material and application.

Breakup by Process Type:

Sodium Silicate Process
Tetraethyl Orthosilicate (Silica Sol Process)

Breakup by Material:

Superalloys
Steel
Aluminum
Titanium
Others

Breakup by Application:

Automotive
Aerospace & Military
Oil and Gas
Energy
Medical
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive mapping of the competitive landscape

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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IMARC Services Private Limited
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