According to a new market research report published by sheer analytics and insights, “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, as per the latest market research report titled Global Investment Casting Market - Industry analysis, size, share, growth, trends, and forecast, 2021-2031.
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. However, this investment casting process is also known as the lost wax method. Generally, these castings are used in launch vehicles, defense aircraft, regional jets, helicopters, and commercial transport. The technique is well-known for its high accuracy and near-net-shape. 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.
However, in this current pandemic of COVID-19, the Investment Casting market is affected much. It changes the growth rate graph slightly in the Investment Casting market. But it has been expected that after the pandemic situation, the global Investment Casting market will reach a high position in the graph. Apart from that, the rising of the investment sector across the world is anticipated to offer a massive opportunity for market growth in the next forecast period of 2021 to 2031.
Geographically, The Investment Casting Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
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