The North America Investment Casting Parts Market Size is Expected to Grow to $7968.53 Million by 2028

North America Investment Casting Parts Market Overview

According to Global Market Monitor, the North America investment casting parts market size will reach $6889.23 million in 2023 and is expected to grow to $7968.53 million by 2028.

Investment casting is a manufacturing process in which a wax pattern is coated with a refractory ceramic material. There are many production methods for metal parts, but investment casting technology has always been one of the main processes of this type of metal parts. Compared with the manufacturing process (such as sand casting), its castings are more detailed, with low cost, free design, and unlimited number.Excellent performance and low-cost manufacturing processes are one of the important driving factors of the investment casting market.

North America is leading the global investment casting parts market.The factors driving the growth of the North America market are the evolving and expanding manufacturing sector, primarily industrial gases and aerospace and defense applications, as well as the presence of significant defense aircraft and component manufacturers in the region. Investment casting is used to manufacture a variety of industrial and commercial equipment and has become an important part of the industrial sector because it can produce complex parts with high precision. Industries such as aviation, mining, dairy, chemical, pharmaceutical, packaging, food, and power require precision stainless steel castings of various sizes and shapes. The high-performance and large-scale downstream applications will bring greater development opportunities to the investment casting parts market.

North America Investment Casting Parts Market Competition Status

Investment casting companies are mainly from the USA and the industry concentrate rate is very high. The top three companies are Arconic, Precision Castparts Corp., and Consolidated Precision Products with market shares of 16.54%, 15.37%, and 7.58% in 2022. Further growth is imminent in the North America investment casting parts market for many new start-up companies because of the increasing preference of end-users towards lower production costs. Established companies are posing a great challenge in terms of technological, reliability, and quality issues, which is leading to mergers and acquisitions signed between smaller and established companies. For example, Consolidated Precision Products Corp, a leading manufacturer of highly engineered components and subassemblies primarily for the commercial aerospace and defense markets acquired Selmet, Inc.

Company Name	Arconic
Website	www.arconic.com
Established Time	1926
Manufacturing Bases	USA
Sales Region	Worldwide
Headquarters	USA
Business Overview	Arconic Inc. of Delaware produces and distributes aerospace products. The Company offers engineered products and solutions for the aerospace, industrial gas turbines, commercial transportation, and oil and gas markets. Arconic markets its products worldwide.