Home > Advanced Materials > Investment Casting Market Trends, Share, Size, Growth, Forecast 2030
Straits Research

Investment Casting Market

Investment Casting Market: Information by Material (Superalloys, Steel), Application (Automotive, Aerospace & Military), and Region — Forecast till 2030

Table of Content Download Sample

Market Overview

The global investment casting market size was valued at USD 15.29 billion in 2021 and is projected to reach USD 24.73 billion by 2030, registering a CAGR of 5.49% from 2022 to 2030.

The process known as investment casting involves producing a metal component with the use of an investment mold throughout the production stage. The investment casting process is also known as the Lost wax method. This approach is helpful in the process that will follow, which includes reducing the amount of material waste, energy consumption, and machining. The aerospace, gas turbine, industrial, and automotive industries are where their principal applications can be found.

The ability of investment casting to maintain a close dimensional structure while also producing a smooth surface is the primary factor propelling the market's expansion. Its extensive use in the fabrication of components used in aircraft as well as parts of machines used in industries has also been a contributor to the expansion, along with several other variables that have been responsible for the rise. Complex geometries and materials from more advanced forms of engineering are required for the various components that go into the design of aircraft.

Demand has increased for a variety of components, including air ducts, complex curved surfaces, engine chambers, and internal channels. During the manufacturing process of airplanes, the utilization of investment casting permits the development of structures that are not only lightweight but also highly constructed. According to the findings of the surveys, it is anticipated that the aerospace industry will have significant expansion in the years to come, which will lead to advancements in the investment casting business.

Market Snapshot

market snapshot
Base Year
: 2021
Study Period
: 2020-2030
: 5.49 %
Fastest Growing Market
: North America
Largest Market
: Asia Pacific
Market Size
: USD 24.73 billion by 2030
Get more information on this report Download Sample Report

Market Dynamics

Market Drivers

  • Growing aerospace & military industry

The expanding aerospace and military industries are major drivers of the demand for investment casting. This is because investment casting is used to produce a wide variety of applications and parts for aircraft, helicopters, and jets. Investment casting is also used to produce a variety of other parts and applications. These include flight critical and safety components, components for landing and braking, and components for the hydraulic fluid system; all of these are essential to ensuring the aircraft's continued operational viability.

Aerospace and defense became the most important market sector in the United States in 2021, accounting for a revenue share that was greater than 62.0 percent. Key participants in the aerospace sector are opening new plants to meet the growing demand for satellites as well as commercial and private jets. These new plants will be able to produce more of the goods that are in demand. For example, the Swedish company Saab AB plans to establish a new aircraft plant in West Lafayette, Indiana, in October of 2021.

Market Restraints

  • High manufacturing costs & energy consumption

The demand for investment castings is being held back by a few problems, such as the high cost of production and the extensive amount of energy it requires. However, foundries are working together to develop innovative advanced casting technologies through the use of simulations in an effort to overcome these problems. If successful, this will likely decrease the amount of time spent on the shop floor and boost the casting yield.

Market Opportunity

  • Various technological advancement

X-ray defect detection, all-in-one 3D printing, casting and forging techniques, and other technological advancements are all contributing to the creation of new opportunities for business expansion. Improvements in casting processes can be achieved through computer simulations and the implementation of metal additive manufacturing practices. These procedures contribute to the manufacture of products that are cost-effective as well as stable and structurally durable. It is projected that other factors, such as speedy industrialization and substantial research and development (R&D) efforts, would generate chances for the market in the future.

Segmental Analysis

In 2021, aerospace & defense accounted for around 46.0% of the global market's revenue. The aircraft sector relies heavily on investment cast components for a variety of important applications. Investment casting is used to produce highly engineered castings such as cable clamps, ball bearings, fuel valves, gasoline manifold, landing gear, brake systems, pitot probes, and other sensors.

The mechanical engineering business is one of the leading suppliers of capital goods and is in high demand. It is projected that a quick increase in production activities will augment industry expansion, consequently increasing demand for investment castings over the projection period. Using investment casting techniques, agricultural equipment with excellent durability and long-life cycles for tough agricultural applications is created.

During the projected period, the rising need for shale gas is anticipated to increase the demand for investment cast components even further. For land and offshore drilling activities, in addition to hydraulic fracturing applications, highly designed cast items are utilized. In addition, investment castings are used to produce compressor components, impellers, valve components, flanges, electrical equipment & fittings, connections, and housings for the oil & gas industry.

Regional Analysis

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

In 2021, the Asia Pacific region was the most important part of the worldwide market. This region accounted for more than 35.0 percent of the revenue share. The demand in the region is primarily driven by the consistently strong expansion of the manufacturing sectors of the automotive, aerospace, and industrial machinery industries. Because there are so many small- and medium-sized factories in the area, investment cast items are produced in greater quantity here than anywhere else in the world.

Over 1,500 foundries in China make components for the automotive and aerospace industries, making the country the leading producer of investment casting components in the Asia Pacific region. Given the availability of foundries for automotive turbochargers, gas turbines, and biomedical applications, Japan is one of the emerging producers of investment cast parts. On the other hand, South Korea demonstrates an increased product demand in the automotive industry.

Over the course of the projected period, it is anticipated that Europe would expand at a compound annual growth rate of 4.4 percent. The region has seen a growth in the use of new generation alloys in aviation components due to the capacity of these alloys to endure high temperatures. This is anticipated to lead to an increase in the usage of these alloys in both commercial and military types of aircraft. The demand for investment casting in Europe's aerospace sector is anticipated to be driven throughout the forecast period by rising technological penetration in the production of high-performance alloy parts.

In 2021, North America was the most dominant region in the market and accounted for the biggest revenue share, which was greater than 36.0 percent. This is because investment casting is so widely utilized in the production of high-value-added components for a wide variety of industries, including the aerospace and defense, oil and gas, and medical industries.

Investment Casting Market Regional Analysis
Regional Growth Insights Download Free Sample

Top Key Players of Investment Casting Market

  1. Arconic, Inc.
  2. Doncasters Group Ltd.
  3. Hitachi Metals, Ltd.
  4. MetalTek International
  5. Significantst
  6. Precision Castparts Corp (Berkshire Hathaway)
  7. Zollern GmbH and Co. KG
  8. Impro Precision Industries Limited

Report Scope

Report Metric Details
CAGR 5.49%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Material
    1. Superalloys
    2. Steel
    3. Aluminum
    4. Titanium
    5. Others
  2. By Application
    1. Automotive
    2. Aerospace & Military
    3. Oil and Gas
    4. Energy
    5. Medical
    6. Others
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa

Recent Developments

In October 2021, The Alcoa Corporation recently disclosed its intention to accomplish its goal of achieving net-zero greenhouse gas (GHG) emissions across all of its global activities by the year 2050. This goal aligns with the company's strategic priority to advance in a sustainable manner and complements its existing targets, which include reducing direct and indirect GHG emissions from aluminum smelting and alumina refining operations by 30 percent by 2025 and 50 percent by 2030. The aim to reach net-zero GHG emissions by 2050 for both direct (scope 1) and indirect (scope 2) emissions is aligned with this strategic priority and will be accomplished by 2050.

Investment Casting Market Segmentation

By Material

  • Superalloys
  • Steel
  • Aluminum
  • Titanium
  • Others

By Application

  • Automotive
  • Aerospace & Military
  • Oil and Gas
  • Energy
  • Medical
  • Others

By Regional

North America

  • The U.S.
  • Canada
  • Mexico


  • Germany
  • France
  • Russia
  • The U.K.
  • Italy
  • Spain

The Asia Pacific

  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Australia

Central & South America

  • Brazil
  • Argentina

Middle East & Africa

  • Saudi Arabia
  • UAE
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Need Assistance?
+1 646 905 0080 (U.S.)
+44 203 695 0070 (U.K.)

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers