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Investment Casting Market Size – USD 15.06 Billion in 2019, Market Growth - CAGR of 4.2%, Market Trends – High demand in the aerospace sector.

NEW YORK CITY, NY, UNITED STATES, November 15, 2021 /EINPresswire.com/ -- The Global Investment Casting Market is projected to reach USD 21.09 billion in 2027. Increased use of investment casting in the aerospace industry is likely to increase market demand for advanced component development such as compressors, engine components, gearbox components, and others.

The investment casting market is transforming towards automation as technological advancements such as robotics arms, simulation techniques, the internet of things, etc. are gaining popularity among the industry's vendors. Robotic arms are used with ceramic coats to cover the wax patterns, and then pour metal into the cavity. Key advantages of using robotic arms include increased precision in casting parts and reduced lead time.

Large investments and fluctuating prices of raw materials such as superalloys and steel are the factors that are expected to curb growth in the industry. Although it is a cost-saving process, wax mold preparation is labor-intensive and time-consuming, which is expected to impede market growth further.

The 3D printing of wax patterns is expected to provide new avenues for market vendors in investment casting. 3D printing is an evolving technique in this sector, which is expected to reduce long lead times, which high tooling costs in the years to come. Various industries are designing new technologies for 3D wax pattern printing.

Considering the moderate demand from the end-use industries, the industry faces obstacles associated with productivity, lead time, and capacity utilization. To overcome these challenges, industry vendors move to advanced technology.

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Increasing demand for essential consumer products including soaps, detergents, perfumes, etc., growing production of environmentally sustainable chemicals and raw materials, and technological advancements in chemical and material manufacturing processes are some of the key factors driving the growth trend of the global materials & chemicals market. Rapidly surging demand for organic chemicals and high-performance specialty chemicals in the oil & gas, pharmaceutical, pulp & paper, personal care & cosmetics, food & beverage, agriculture, and textile industries is another important parameter for market growth.

Leading Market Competitors:
Alcoa, CIREX, Precision Castparts, Milwaukee Precision Casting, Zollern, RLM Industries, MetalTek, Dongying Giayoung, Impro and Amtek Group, among others.

Further key findings from the report suggest:

Aerospace application is anticipated to lead the global investment casting market over the forecast period as a result of increased demand for emerging-country air fleets.

As a result of improved performance, rising demand for high-performance, and sustainable components is expected to propel demand.

Expansion and improved production in the automotive sector in European countries would likely raise demand for automotive components made using investment casting methods.

Influential manufacturers concentrate on achieving optimum operating costs and enhancing product efficiency to preserve their supremacy in the industry

Asia-Pacific has emerged as a significant investment casting market due to countries such as India and China that have seen substantial growth in its domestic aviation industry. Thereby, the demand for new air fleets and the manufacture of related components is largely influenced.

In February 2019, Signicast agreed with Amsterdam based investment firms Convent and Nedvest to acquire CIREX, an European investment casting specialist based in the Netherlands. This transaction enables Signicast to support its growing foreign client base better, and the merged company will now have plants in the Czech Republic, Netherlands, and Slovakia in addition to Signicast 's current three facilities in the USA.

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Market Overview:
A material is a substance or a mixture of substances that makes up an object. In the manufacturing process, materials are employed as inputs to make items or more complicated materials. Businesses that create industrial chemicals make up the chemical industry. In this industry, chemical reactions and refining technologies are utilised to transform fundamental resources such as oil, air, water, natural gas, metals, and minerals into thousands of various products. The materials and chemicals industry trends range from solutions for surface engineering, lightweighting, sustainability, nano-formulations (biomaterials), 3D printing, and developing advanced composites to meet the changing industry demands.

Global Investment Casting Market Segmentation:
Based on Product Type:
Sodium Silicate Process
Silica Sol Process
Tetraethyl Orthosilicate
Ceramic Mold
Others

Based on Application:
Aerospace
Defense
Automotive
Oil & Gas
Medical
Mechanical Engineering
Energy
Others

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Regional and Country-wise Segmentation of the Global Investment Casting Market:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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