What is Investment Casting
Investment casting has gained widespread recognition as a cost-effective and efficient method for producing various parts in the aerospace industry. This manufacturing process enables the production of parts with varying degrees of complexity using durable and corrosion-resistant materials. These parts are designed to withstand the most challenging operating conditions and environments, making them highly sought after by aerospace manufacturers.
Investment Casting Market to Expand as Air Passenger Traffic Grows
The growth of air passenger traffic is expected to drive demand for investment cast products as new commercial aircraft are produced to meet the demand. This increase in passenger traffic is attributed to the rising per capita income and positive GDP across the globe, which has increased the demand for new commercial aircraft. In 2021,
Furthermore, the United States has recovered from the economic contraction caused by the COVID-19 pandemic in 2020. In 2021, the economy's real GDP increased by 5.7%, compared to a decrease of 3.4% in 2020. This recovery is expected to positively impact the investment casting market, increasing demand for investment cast products from various industries.
Investment Casting Market: Asia Pacific Leads Driven by Automotive and Aerospace Sectors
Investment casting is a popular manufacturing method that produces parts with high durability and corrosion resistance, making them ideal for harsh environments. This is due to the region's sustainable growth in the automotive, aerospace, and industrial machinery manufacturing sectors.
China is the largest producer of investment casting components in the region, while Japan and South Korea exhibit an increased demand for investment cast parts in the automotive industry. In Europe, using new-generation alloys in aircraft components is expected to drive the demand for investment casting in the aerospace segment.
North America dominates the market and accounts for over 36.6% of the revenue share, mainly due to the widespread use of investment casting in high-value-added parts for industries such as aerospace & defence, oil & gas, and medical industries.
Conclusion
The future looks bright for the investment casting market, and companies in the industry can expect to see continued growth and demand for their products in the years to come.
Author's Detail:
Smruti Ransingh, LinkedIn
Smruti Ransingh, holding a Bachelor's degree in Electronics and Telecommunication Engineering, is a seasoned market researcher in the Electronics & Electrical industry. Over the years, she has collaborated with key players in the field, aiding them in identifying market prospects and offering effective strategic solutions. Her proficiency lies in integrating qualitative and quantitative research techniques to conduct Market Assessments that steer business choices.
Author's Detail:
Smruti Ransingh /
LinkedIn
Smruti Ransingh, holding a Bachelor's degree in Electronics and Telecommunication Engineering, is a seasoned market researcher in the Electronics & Electrical industry. Over the years, she has collaborated with key players in the field, aiding them in identifying market prospects and offering effective strategic solutions. Her proficiency lies in integrating qualitative and quantitative research techniques to conduct Market Assessments that steer business choices.
