Industry Market Status
2024 European Investment Casting Market Outlook and Future Prospects
by Carlos Olabe, Executive Director, European Investment Casters’ Federation Introduction T
he year 2024 has presented both continuity and complexity in the recovery trajectory of
the European Investment Casting (IC) industry. Economic uncertainty persists across global markets, intensified by unresolved geopolitical tensions, such as the ongoing war in Ukraine, the Middle East conflict, and signs of growing protectionism in international trade. In parallel, macroeconomic indicators within Europe are cautiously stabilizing, albeit at uneven rates across sectors and regions. One element that has significantly
influenced the financial landscape in 2024—both in perception and in accounting—is the continued depreciation of the Euro against the US Dollar. This currency movement, while reflective of broader interest rate differentials and investor sentiment, has had a tangible impact on the valuation of the European IC market when expressed in USD. Unlike in 2023, where inflation artificially inflated local currency values, the 2024 currency effect
has an inverse consequence:
when revenues and performance are reported in US Dollars, they appear smaller than the actual market growth in Euros. In other words, the strong Dollar leads to an understatement of the real progress achieved within the European IC industry. This depreciation effect is
structurally opposite to the inflationary pressures of 2023. Whereas inflation last year increased nominal Euro values, in 2024 the weaker Euro causes USD- converted figures to underrepresent actual Euro-denominated growth. It is, therefore, critical to approach 2024 figures with this adjustment in mind, distinguishing true economic expansion
30 ❘ April 2025 ® Table 1: European IC market in 2024 is composed of three principal sectors
from currency-driven distortions. Despite these contextual adjustments, the 2024 outcome for the European Investment Casting industry is broadly positive, with the total market expanding to USD 4.22 billion, representing an 8.1% increase over the previous year. Growth is especially strong in High Added Value applications, particularly Commercial Aerospace, while Automotive continues to face structural challenges.
The Other Applications segment shows a resilient
and stable performance, maintaining its important role in supporting a diversified and balanced industrial base.
1. Market Overview The European IC market in 2024 is composed of three principal sectors depicted in Table 1. The High Added Value segment alone accounts for nearly 80% of the total market, clearly asserting its role as the economic and technological backbone of the European IC industry.
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