Industry Market Status Continued from pg 21
• Europe: $4.21 billion, with the high value added sector playing a leading role in its casting market composition.
• China: $3.58 billion, with 56% of sales attributed to general industry castings, including medical devices, oil & gas, and non-aerospace military components.
Together, these three regions drove nearly all net global growth in the investment casting industry. Elsewhere in Asia—including Japan,
India, Taiwan, and South Korea—growth was modest and concentrated in niche sectors. However, the broader Asia- Pacific region, led by China and India, is expected to be a long-term growth engine. Accelerating industrialization, expanding domestic manufacturing, and increasing investment in defense and energy infrastructure are positioning the region for sustained momentum in investment castings.
Outlook The industry is bifurcating, with high- value sectors such as aerospace, defense, and industrial gas turbines (IGTs) driving growth, while other applications,
particularly in general
industry, show signs of stagnation. As reshoring, sustainability mandates, and energy transitions continue to reshape the landscape, demand for high- performance, precision castings will expand.
Precision castings remain at the forefront, particularly
in high-
value sectors that require specialized components with tight tolerances. Leading producers in this segment are increasingly adopting digital transformation strategies—leveraging advanced automation, 3D printing for pattern making, and digital quality control systems. Regional dynamics are also playing a key role in shaping the future of the market. North America, Europe, and China continue to dominate, with North America leading the charge due
22 ❘ April 2025 ® 2024 Consolidated Global Investment Casting Sales
Total global investment casting sales reached $17.2 billion in 2024. High- value applications now dominate, with growth increasingly concentrated in a few key regions and sectors.
to its focus on high-value applications. However, these regions will increasingly be challenged by rising competition and the shifting global supply chain
dynamics. The Asia-Pacific region, particularly China and India, is poised for renewed growth.
2024 Global Investment Casting Sales and Sector Leaders North America led all regions in 2024 with $7.34 billion in casting sales, followed by Europe at $4.21 billion and China at $3.58 billion. These three regions accounted for the vast majority of global investment casting growth.
World Report
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