Industry Market Status
World Report on Investment Casting Performance and Outlook
By Tim Sullivan, Executive Director, and Merrin Muxlow, Partnerships and Marketing Director, Investment Casting Institute Executive Summary
T
he global investment casting market enters 2025 with momentum in select sectors and regions, but the broader outlook is tempered by structural constraints and uneven demand. Total global sales reached $17.2 billion in 2024, led by high value-added applications across North America, Europe, and China. Yet behind the top-line figures lies a story of sharp divergence—both by application and geography. High value- added segments continue to flourish, while
general industry and regional
laggards drag on overall momentum. Aerospace, defense, and industrial gas turbines (IGTs) are expected to sustain strong growth in 2025, driven by persistent OEM backlogs, energy demands, and global military investment. Automotive casting demand is expected to remain stable, supported by continued production of both internal combustion and electric vehicles. Key components—such as turbochargers, thermal housings, and drivetrain structures—remain essential across platforms. General industry castings, by
contrast, face a more subdued outlook. Demand for parts used in pumps, valves, oilfield equipment, and industrial machinery is under pressure as infrastructure investment slows and global buyers gravitate toward lower- cost suppliers. As a result, growth is increasingly concentrated in precision applications.
High-Value Added High value-added applications, encompassing aerospace, defense, and industrial gas turbines, accounted for $11.24 billion in 2024—an estimated
20 ❘ April 2025 ®
2024 Global High Value-Added Investment Casting Sales High value-added castings—used in aerospace, military, and IGTs—reached $11.24 billion in 2024. North America, Europe, and China accounted for 94% of this demand, a trend expected to continue in 2025 as global defense spending remains strong.
65% of total global sales. North America led with $6.16 billion, Europe followed with $3.36 billion, and China contributed $1.15 billion.
Together,
these regions made up 94% of global high value-added casting revenue. Much of this demand is tied to aerospace recovery. Aircraft production has rebounded, with defense spending providing further support, particularly in the U.S. and NATO-aligned countries. However, risks remain: aircraft OEMs face supply chain bottlenecks, and European defense spending is both politically sensitive and unevenly distributed.
IGT castings showed moderate growth in 2024, though demand may
soften in 2025 as power sector investment normalizes. Still, the long-term outlook remains bullish, particularly as AI-driven data centers drive demand for efficient, dispatchable energy sources.
Automotive Automotive casting demand held firm at $1.70 billion globally in 2024. Europe led with $468 million, followed by China at $410 million and North America at $330 million. Together, these three regions accounted for 71% of global automotive casting sales. Demand remains steady across automotive subsectors such as
turbo
wheels, rocker arms, and miscellaneous hardware. Platform consolidation and
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