Automotive Investment Casting Market

Automotive Investment Casting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Investment casting is a casting method in which a mold is created around a wax design that is burned away when molten material is poured into it. A ceramic slurry is applied around a disposable pattern to produce a mold in investment casting.
This process is commonly used to manufacture machinery components, automotive components, turbine blades, dental fixtures, etc. It minimizes the wastage of energy, materials, and subsequent machining. It also helps create intricate designs with accurate and smooth finishing. Consequently, investment casting is extensive utilized across various industries such as automotive, aerospace, medical, and oil & gas.

Investment casting processes are widely used in the manufacture of military aircraft, jets, launch vehicles, helicopters, and commercial transport vehicles. Accordingly, significant expansion of the aviation and aerospace industry in the last few years is one of the key factors boosting the market.
Investment casting process is also gaining popularity in the automotive market for manufacturing engine components. Various technological breakthroughs, such as improvements in casting processes through simulations and the use of metal additive manufacturing procedures, all-in-one 3D printing, X-ray defect detection, and casting and forging techniques, are also driving the market.
The wax used for investment casting is usually melted and reused for manufacturing components of different shapes and sizes. These procedures aid in the creation of products that are cost-effective, stable, and structurally sound. Other factors, such as growing industrialization and substantial research and development (R&D) efforts, are expected to further propel the market.

The COVID-19 pandemic has drastically affected the economic growth and production output in the Middle East & Africa. The oil & gas sector represents the largest customer for investment casting producers in the region. The drastic decline in the oil & gas prices in the region owing to the COVID-19 crisis is expected to severely impact the market in the short term.
The pandemic has affected the overall production of the global automobile industry, which made a huge impact on the transport sector too. Expansion of the EV market, which requires lighter weight parts for their vehicles, is reducing the demand for investment casting and consequently, hindering the market.

Currently, investment casting is being successfully adopted in automobile, defense, and aerospace industries. The benefits of investment casting is the wax used for the process is usually melted and reused for manufacturing components of different shapes and sizes.
Significant demand for medical equipment is expected to lead to a significant rise in the manufacture of products by investment casting processes during the forecast period

North America is the leading region and accounted for a prominent share of the global market. This is due to the widespread usage of investment casting method to manufacture high-value-added parts, particularly in the aerospace and defense industries. Aircraft manufacturing is expected to rise considerably in the next five years, as COVID-19 is unlikely to have an immediate or mid-term impact.
On the other side Europe, is another leading region of the global investment casting market, following North America.
The market in Asia Pacific is expanding at a rapid pace. According to per the World Bank, post the COVID-19 crisis, Asia is estimated to witness the rapid growth as compared to its counterparts, as the region has been witnessing significant growth in its industrial output for the last few years, especially in China and countries in Southeast Asia. The automotive, transportation, aerospace and defense sectors, along with mechanical engineering goods, such as industrial valves, pumps, and other machinery parts are likely to witness significant expansion in the next few years.

Automotive Investment Casting Market, by End-use Industry

Automotive Investment Casting Market, by Region

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