Industry Forecast
Japanese Trends of Investment Casting Market in 2023
by Japan Foundry Society, Inc., Akira Yoshizawa T
urnover and yearly production of each segment in the Japan market is shown in Figure 1. Data for
2023 are estimated annual totals based on actual production and sales from January through September. Also, Figure 2 and 3 respectively show the trends in monthly production weight and turnover of each segment in 2023, compared with the previous year's data in 2022. The following are highlights of
Japan’s 2023 investment casting market trends: 1) Overall production is expected to
be same level as in 2022, still have not recovered to 2021 levels. The turnover in 2023 is estimated at about 63 billion yen, an estimated increase of 17% from 2022. Especially the Gas Turbine and Automobile segment increased 16% and 11%, and the Aircraft/Weapons segment will just about double compared to 2022. 2) The market trends of each segment in 2023 are described as follows. a) Gas Turbine segment Production weight of Gas turbine
segment is 27%, the second to the Automobile segment of market in investment castings, but its turnover is the largest percentages (54%) of the investment castings market, due to the higher price per each manufacturing part, compared with Automobile products. Production increasd slightly by 6% over 2022, but turnover is expected to increase by 16% due to higher raw materials, energy prices, and labor costs. The market trend is expected to remain steady through 2024. b) Automobile segment Production weight of Automobile
segment is still the largest percentages (53%) of market in investment castings, and its turnover is 26%, the second to the Gas turbine segment due to the lower price per each manufacturing part, compared with Gas turbine products. Production increased slightly by 4% over 2022, and the turnover is expected to increase by 11%. In 2023, the shortage of semiconductor has been solved, keeping the same level of the market at the level it has been since
October 2022. c) Aircraft/Weapons segment Aircraft/Weapons segment is
the third after the Gas Turbine and Automobile segments in investment casting, and the production weight and the turnover are expected to increase by 21% and 96% respectively from 2022. The reason for increase of Aerospace / Weapons segment is considered to increased demand for aircraft parts after Covid-19. d) General Machinery and others General Machinery and other
segments are minor product categories in Japan investment casting. In 2023, the production weight and the turnover is expected to decline about 20% and 4% compared to 2022. 3) Estimation in 2024 and long-term
prediction. The overall production in 2024 is
expected to remain at the same level as in 2023. Sales are difficult to predict, but likely to rise due to higher raw materials, energy prices, and labor costs.
Figure 1: Annual Production and Sales from 2021 to 2023 in Japan Investment Casting Market. 28 ❘ January 2024 ®
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