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DUBLIN , Jan. 6, 2022 /PRNewswire/ -- The "Investment Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global investment casting market is expected to grow at a CAGR of around 5% during 2021-2026
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor. Investment casting, or lost-wax casting, refers to an industrial manufacturing process that involves dipping of wax patterns or structures into the slurry of refractory material to form a ceramic, plaster or plastic shell. The wax pattern is further melted into a furnace and metal is poured into the shell to create a casting.
This process is commonly used to manufacture machinery components, automotive components, turbine blades, dental fixtures, etc. It minimizes the wastage of energy, material and subsequent machining and aids in creating intricate designs with accurate and smooth finishing. As a result, this process finds extensive applications across various industries, such as automotive, aerospace, military, medical and oil and gas. Investment Casting Market Trends
Significant growth in the aviation and aerospace industry in recent years is one of the key factors creating a positive impact on the market. In line with this, investment casting processes are extensively used in the manufacturing of military aircraft, jets, launch vehicles, helicopters, and commercial transport vehicles.
Furthermore, increasing environmental consciousness and enhanced focus on sustainable development are also driving the market growth. The wax used for investment casting is usually melted and reused for manufacturing components of different shapes and sizes.
Additionally, various technological advancements, such as improvements in casting processes through simulations and the utilization of metal additive manufacturing practices, all-in-one 3D printing, X-ray defect detection and casting and forging techniques, are acting as other growth-inducing factors.
These processes aid in the production of cost-effective, stable and structurally durable products. Other factors, including rapid industrialization, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Key Questions Answered in This Report
The competitive landscape of the industry has also been examined with some of the key players being
Key Market Segmentation Breakup by Process Type
For more information about this report visit https://www.researchandmarkets.com/r/mpcf9d
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