Investment Casting Market by Process Type (Solid Mould and Ceramic Shell Mould); by Material Type (Superalloys, Steels, Aluminium Alloy Castings, Titanium Alloy Castings and Others (brass, glass)); by Wax Type (Filled Pattern Waxes, Non-filled Pattern Waxes, Runner Waxes, Water-soluble Waxes, Repair Waxes and Sticky Waxes); by Application (Automotive, Aerospace &Military, Engineering Machinery, General Industrial Machinery and Medical); – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018-2026
Investment casting is expected to propel the market in future due to rising industrial sector in APAC region. Growing demand in aerospace & military sector to produce complex parts is also expected to further accelerate the market. However, need for high initial investment due to its skilled labor cost, different raw material, experts and expensive infrastructure is expected to hamper the market growth. Technological advancement in investment casting to cater better products to its clients is expected to create wide opportunities for the market to grow in future.
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Filled Pattern Wax Type Segment is Holding the Maximum Market Share during the Forecast Period
Filled pattern wax type is currently dominating the market. The various waxes used in investment casting are capable of making components accurate and reliable. Filled pattern waxes can be worked with a wide range of temperatures. They have better yield because of low cycle time and solid filler material content. There are no flow lines and the surface quality of wax pattern is good. Filled pattern wax is suitable for small wax pattern to large wax patterns. Considering these factors, filled pattern waxes are extensively used in investment casting industries. Thus, accelerating the market in future.
Aerospace & Military Application Segment is Holding the Maximum Market Share during the Forecast Period
Aerospace & Military application is currently dominating the market. Civilian aircrafts and Jet propulsion for military offered investment casting the leading status in the casting industry. From heavy to small casting, investment casting technique is widely used for hi-tech applications. In terms of casting techniques, investment casting is expensive as compared to sand casting but the casting equipment are relatively cheaper. However, investment casting is extensively relied on for complex designs that can’t be created with the help of any other technique. It finds its application in jet engines and spacecraft etc. for producing parts such as bearing cages, exterior and interior sensors and cargo systems etc. Thus, owing to this reason it is anticipated to propel the market in future.
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Asia Pacific is Anticipated to Have a Significant Share in the Forecast Period.
Asia Pacific is considered as the most attractive market in the forecast period. This is due to rising government investment in aerospace & military sector. Emergence of China and India as global automobile hubs with many manufacturers shifting production base to these countries, has correspondingly influenced these countries demand for investment castings in the recent past. Furthermore, major economies like Japan, China, India, South Korea are expected to share major market share of investment casting market in the Asia pacific region. In January 2014, ABB completed an upgrade of the S4C+ controllers to the newer IRC5 controllers for 20 of the robots in its Seoul facility. They included the IRB 6400R, IRB 4400 and IRB 6600 used for foundry, die casting, surface treatment and material handling. This upgradation helped the company to cater better products to its clients.
Investment Casting Market is Fragmented in Nature with the Presence of Global and Regional Players
Some of the significant players functioning in the investment casting market include ABB, Alcoa Corporation, Precision Castparts Corp, ThyssenKrupp AG, Amtek Group, Aristo Cast Corporation, Bharat Forge Ltd., CIREX, Doncasters Group Ltd, Georg Fischer Ltd., MetalTek International, Milwaukee Precision Casting, Inc., Nova Technocast, RLM Industries, Inc., Signicast, Solidscape Inc., The Anchor Danly Company, THOMPSON INVESTMENT CASTING and ZOLLERN GmbH & Co. KG.
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In July 2015, Precision Castparts Corp. expanded its machining capabilities with the acquisition of NORANCO. PCC and Noranco leveraged their technical talent and operational expertise to strengthen the position as the prominent supplier of the most complex and critical components to the aerospace industry.
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