There were 1,371 press releases posted in the last 24 hours and 395,124 in the last 365 days.
Discover the latest trends and insights driving growth in the investment casting market across aerospace, automotive, and medical sectors Steel Casting
VANCOUVER, BC, CANADA, June 10, 2024 /EINPresswire.com/ -- The global investment casting market size was USD 15.70 billion in 2022 and is expected to register a rapid revenue CAGR of 4.5% during the forecast period. The global investment casting market is witnessing a steady surge in revenue, driven by burgeoning demands from key sectors such as aerospace, automotive, and medical industries. Investment casting, also known as the lost wax method, is gaining traction for its ability to produce strong, lightweight, and precisely crafted components while minimizing material waste and energy consumption.
Request a Sample Report with Table of Contents and Figures to click Here: @https://www.emergenresearch.com/request-sample/2615
Aerospace and Automotive Sectors Lead Market Growth
The aerospace and automotive industries are at the forefront of driving the expansion of the investment casting market. With a rising need for robust and lightweight components, investment casting offers a cost-effective solution while maintaining high integrity and precise tolerances. In aerospace, investment casting opens doors to intricate designs and precise parts production, contributing significantly to the sector's growth. Similarly, in the automotive industry, investment casting plays a pivotal role in manufacturing parts ranging from brackets to engine blocks, streamlining production processes and saving both time and money.
Medical Sector Emerges as a Key Driver
The medical sector is emerging as a significant driver of market revenue growth, with investment casting being instrumental in the production of prosthetics and medical implants. Investment casting ensures the manufacture of medical devices that meet stringent industry standards, offering high precision and fine features necessary for orthopedic implants, dental prostheses, surgical instruments, and other vital medical equipment. The use of biocompatible materials further enhances the durability and safety of medical devices, paving the way for personalized solutions and customization in manufacturing.
While the investment casting market witnesses robust growth, challenges such as high production costs pose a restraint. The process's labor-intensive nature and varying material costs contribute to the overall production expenses. However, advancements in technology and material selection offer opportunities to mitigate these challenges and expand market reach.
The market is witnessing trends such as the increasing use of investment casting in the oil and gas industry, catering to the transportation and energy sectors' needs. Segment-wise, the dominance of sodium silicate process and steel alloy materials underscores their versatility and cost-effectiveness, driving market growth across various applications.
For More Details On this Report Click Here @https://www.emergenresearch.com/industry-report/investment-casting-market
Within applications, the automotive segment leads in revenue share, benefiting from investment casting's precision, adaptability, and affordability. Investment casting enhances the durability and performance of automotive components, ranging from safety-critical equipment to engine parts. Simultaneously, the aerospace segment shows the fastest growth rate, fueled by the demand for strong and lightweight components essential for aircraft operations.
With advancements in technology and material sciences, the investment casting market is poised for continued growth across diverse industries. As demands for precision components and cost-effective manufacturing solutions rise, investment casting remains a cornerstone in meeting these evolving needs.
Investment Casting Top Companies and Competitive Landscape
The global investment casting market is fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective investment casting solutions in the market.
Dongying Giayoung Precision Metal Co., Ltd.
Ningbo JWI Investment Casting Co., Ltd.
Taizhou Xinyu Precision Manufacture CO., LTD
ZOLLERN GmbH & Co. KG
To Customized Report Market: @https://www.emergenresearch.com/request-for-customization/2615
Investment Casting Latest Industry News
On 8 July 2022, Alcoa Corporation (AA) announced to invest at its Deschambault smelter in Canada to increase its casting capabilities in North America. The project will be finished in the first quarter of 2023, with the new casting equipment being built in an existing structure. The site’s two vertical casting pits, which cast just T-bar ingots, will be enhanced by the production of about USD 8 million return-seeking capital investment.
On 25 February 2022, Bharat Forge acquired JS Auto Cast Foundry India Pvt. Ltd. (JS Auto), a casting company with its headquarters in South India. JS Auto, a prominent provider of machined critical castings for industrial applications, such as wind, hydraulic, and off-highway, recorded revenues of Rs. 259 crores in FY21 and maintained double-digit return ratios. By acquiring JS Auto, Bharat Forge hopes to strengthen its manufacturing foothold in southern India and expand its products in the industrial sector.
Investment Casting Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global investment casting market on the basis of type, material, process technology, application and region:
Type Outlook (Revenue, USD Billion; 2019-2032)
Material Outlook (Revenue, USD Billion; 2019-2032)
Process Technology Outlook (Revenue, USD Billion; 2019-2032)
Application Outlook (Revenue, USD Billion; 2019-2032)
Oil & Gas (O&G)
Regional Outlook (Revenue, USD Billion; 2019-2032)
Rest of Middle East & Africa
Click Here To Buy Now @https://www.emergenresearch.com/select-license/2615
Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
https://www.emergenresearch.com/industry-report/chemical-catalyst-market
https://www.emergenresearch.com/industry-report/animal-wound-care-market
https://www.emergenresearch.com/industry-report/aerospace-valves-market
https://www.emergenresearch.com/industry-report/aircraft-heat-exchanger-market
Airborne Satellite Communication System Market
https://www.emergenresearch.com/industry-report/airborne-satellite-communication-system-market
https://www.emergenresearch.com/industry-report/web-application-firewall-market
https://www.emergenresearch.com/industry-report/diagnostic-imaging-services-market
Lateral Flow Assay Components Market
https://www.emergenresearch.com/industry-report/lateral-flow-assay-components-market
https://www.emergenresearch.com/industry-report/healthcare-facility-management-market
https://www.emergenresearch.com/industry-report/aircraft-filters-market
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee Emergen Research +91 90210 91709 sales@emergenresearch.com Visit us on social media: Facebook Twitter LinkedIn
EIN Presswire's priority is source transparency. We do not allow opaque clients, and our editors try to be careful about weeding out false and misleading content. As a user, if you see something we have missed, please do bring it to our attention. Your help is welcome. EIN Presswire, Everyone's Internet News Presswire™, tries to define some of the boundaries that are reasonable in today's world. Please see our Editorial Guidelines for more information.
Sand Casting Ductile Iron © 1995-2024 Newsmatics Inc. dba EIN Presswire All Right Reserved.