Will Investment Casting Market carry its growth momentum post COVID-19? Read more to know Shubham Jamdade
• July 29, 2021
Investment casting process is a foundry process by which a metal part is produced from an investment mold that is formed by a heat-disposable pattern such as wax. Investment casting process is also termed as the lost wax method. These castings are commonly used in defense aircraft, launch vehicles, helicopters, regional jets, and commercial transport. Investment casting process is known for its highly accurate, and, near-net-shape.
Key factors driving the investment casting market include decentralized power generation, optimization of the casting process through simulations, and rising trend of pipeline connectivity and movement of natural gas. Rapid growth in the aerospace & defense sector will drive the demand for investment casting in the near future. Foundries must overcome the challenge of high energy cost as the energy consumption at every stage is immense. On the other hand, need for high initial capital investment is a major drawback of investment castings. The requirement of machinery for large scale production leads to high initial cost. Moreover, the preparation of the wax molds is a time consuming, labor-intensive process. These are some of the major factors hampering the growth of the investment casting market.
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The global investment casting market can be segmented based on material, distribution channel, end-users, and region. On the basis of material, the investment casting market can be segmented into aluminum, superalloys, steel, titanium, and others which includes glass and brass. Based on distribution channel, the investment casting market can be bifurcated into direct sales and distributor sales. In terms of end-users, the investment casting market is bifurcated into aerospace & defense, automotive, industrial gas turbines, medical, engineering machinery, and general industrial machinery. Aerospace & defense is one the biggest end-user segment of the investment casting market. Commercial aircrafts and jet propulsion for defense offer investment casting the leading status in the casting industry.
Prominent players operating in the global investment casting market are Precision Castparts Corp, Amtek Group, Doncasters Group Ltd, ABB, Bharat Forge Ltd., Alcoa Corporation, RLM Industries, Inc., ThyssenKrupp AG, Milwaukee Precision Casting, Inc., Aristo Cast Corporation, CIREX, Georg Fischer Ltd., The Anchor Danly Company, MetalTek International, Zollern GmbH & Co. KG., Thompson Investment Casting, Nova Technocast, Signicast, and Solidscape Inc. These players
are estimated to face tough competition in the near future due to presence of a large number of local players in the market. Major brands are likely to focus on innovation of new products and research & development activities to strengthen their foothold in the global investment casting market. Companies are undertaking mergers and acquisitions, and joint ventures with local players to expand their product portfolio. Producers in developing countries are focusing on reducing their cost of production and increase profitability for the sustainable growth of their business.
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