Investment Casting Market - Growth, Trends, and Forecasts 2020-2025: Sodium Silicate Process To Exhibit The Highest Growth Rate - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Investment Casting Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The Investment Casting Market is poised to register a CAGR of 4.58% over the forecast period (2020 - 2025).

The demand for investment casting is majorly driven by the growing aerospace and military industry, as there are many different applications and parts of aircraft, helicopters, and jets that are produced through investment casting. These include flight critical and safety components, landing and braking components, and hydraulic fluid system components, all of which are vital to the safety of the aircraft.

There are few factors which are hindering the demand for investment casting market such as manufacturing cost, high energy consumption, etc. However, foundries are trying to overcome these challenges by making collaborations to innovate advanced casting technologies using simulations, which is likely to reduce the shop-floor time and increase the casting yield.

North America is leading the investment casting market currently. The factors attributable to North America's growth is the expansion of the manufacturing industry, medical, and aerospace & military sectors. Asia-Pacific is projected to be the fastest-growing region over the forecast period. China is likely to lead the region as it is one of the significant countries which majorly contribute to the growth of the investment diecasting industry in the region.

Key Market Trends

Sodium Silicate Process To Exhibit The Highest Growth Rate

• Silica sol casting gives the investment castings better dimensional accuracy and surface finish with minimal defects. Hence the cost of the process is higher than that of the water glass casting. Silica sol zircon sand is very expensive, and the preparation needed is also higher, which is also a prime reason for the higher costs.
• The silica sol process has comparatively less adoption in foundries due to its higher costs. On an average, the silica sol investment casting used in automotive or industrial component costs around 6.5 USD/kg.
• Nevertheless, if the highest casting quality and the low repair rate is the main focus of the end-user, this process can be preferred. Compared to the water glass process, silica sol process can produce extra-large parts weighing 50-100kgs. Hence this process is used for producing larger and heavier parts, like water pumps, impellers, diversion shells, pump bodies, ball valve bodies, and valve plates. At the same time, this process is also widely used to produce extra small parts (2-1000g) that require high dimensional accuracy, like the ones used in ap
• The Sodium Silicate Process is slowly becoming more popular in regions such as Asia-Pacific as a result of the ongoing efforts to improve the quality and dimensional accuracy of the components produced.
• Due to COVID-19, companies decreased their overall manufacturing production capacities. In July 2020, Boeing announced the reduction of its Boeing 787 and Boeing 777 aircraft in the coming years. This might affect the revenues of investment casting parts suppliers in the region.

Competitive Landscape

The investment casting market is fragmented owing to the presence of various international and regional investment casting manufacturers. The investment casting market is lead by Alcoa Corporation, ThyssenKrupp AG, Zollern GmbH and Co. KG, Georg Fischer Ltd., Signicast, Milwaukee Precision Casting, RLM Industries, among others.

As the market is fragmented companies are making investment, partnerships, joint-ventures, acquisitions, etc., for being ahead in the competition. For instance,

• In February 2019, Signicast has signed an agreement to acquire CIREX, a European investment casting specialist based in the Netherlands, from Amsterdam based investment companies Convent and Nedvest. This acquisition will enable Signicast to better serve its growing international customer base and in addition to Signicast's existing three facilities in the US, the combined operation will now have plants in the Netherlands, Czech Republic, and Slovakia.

Companies Mentioned

• 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

For more information about this report visit https://www.researchandmarkets.com/r/dkz17y