Industry Market Status
Japanese Trends of Investment Casting Market in 2024
by Akira Yoshizawa, Japan Foundry Society, Inc. T
urnover and yearly production of each segment in the Japan market is shown in Figure 1. Data for 2024 are estimated annual totals based on actual production and sales from January through October. Also, Figure 2 and 3 respectively show the trends in monthly production weight and turnover of each segment in 2024, compared with the previous year's data in 2023. The following are highlights of
Japan’s 2024 investment casting market trends: 1) Overall production is lower (3%) than in 2023. The decreasing trend continues after 2021. Even though the turnover of the Gas Turbine Aircraft/ Weapons and others segment increased 13%, 40% and 19% compared to 2023, Automobile segment is same as 2023 and others segments decreased by 3%. Although the Aircraft/Weapons segment weighs less, turnover has grown to 2/3 of that of the Automobile segment in the last few years. The turnover in 2024 is 72.6 billion yen, an increase of 12% from 2023.
2) The market trends of each segment in 2024 are described as follows. a) Gas Turbine Segment Production
weight of the Gas
Turbine segment is 30%, the second to the Automobile segment of market in investment castings, but its turnover is the largest percentages (55%) of the investment castings market, due to the higher price per each manufacturing part, compared with Automobile products. Production has increased slightly by 6% over 2023, but turnover increased by 13% due to higher raw materials, energy prices, and labor costs. This increasing trend has continued since 2022 and is expected to continue next year. b) Automobile Segment Production weight of the Automobile segment is still the largest percentages (50%) of market in investment castings, and its turnover is 22%, the second to the Gas Turbine segment due to the lower price per each manufacturing part, compared with Gas Turbine products. Production decreased by 7% over 2023, and turnover is the same as that in 2023.
Both production and sales have been in declining trend since 2021. It seems to be expected to remain the same level or decline in the future, depending on the extent to which the shift from ICEs vehicles to BEVs, HEVs, and other types of electric vehicles take place. c) Aircraft/Weapons Segment Aircraft/Weapons segment is the third after the Gas Turbine and Automobile segments in investment casting, and production weight and the turnover has increased by 22% and 40% respectively from 2023. Although not as large as in 2022, this year's growth was also significant. The reason for increase of Aircraft/Weapons segment is considered to increased demand for aircraft parts after Covid-19. d) General Machinery and Others General Machinery and others segments are minor product categories in Japan investment casting, and after 2021, it shows a declining trend. But production weight and the turnover for others segment are increasing by 11% and 19% from 2023.
Figure 1: Annual Production and Sales from 2021 to 2024 in the Japan Investment Casting Market.
34 ❘ April 2025 ®
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