Description

According to the Market Statsville Group (MSG), the global lost wax casting market size is expected to grow from USD 20,632.6 million in 2021 to USD 33,406.1 million by 2030, at a CAGR of 5.5% from 2022 to 2030. Lost wax casting is also known as cire-perdue or investment/precision casting. In this process, the wax pattern is used to create the initial mold, which can have intricate and complex designs. This casting is a metal-working process that uses a ceramic shell built over a wax pattern to produce parts with extraordinarily uniform and smooth surfaces.

Factors such as growing use in various end-use verticals such as aerospace, healthcare, and others, drive the market’s growth. The integration of 3D printing will create lucrative opportunities for the market’s growth. However, cracking in molds, dearth of professionals will restrain the market’s growth.

COVID-19 Impact on the Global Lost Wax Casting Market

The pandemic has significantly impacted the market's growth, as major end-user industries such as aerospace, automotive, and others witnessed a steep downslope in operations during the pandemic. Hence, the demand for the market reduced amid the pandemic. Further, the halted production activities, global lockdowns, and disrupted supply chains hampered the market's growth during the COVID-19. However, the use of lost wax casting in the healthcare and pharmaceutical industry has positively influenced the market’s growth amid COVID-19.

Scope of the Global Lost Wax Casting Market

The study categorizes the lost wax casting market based on process type, metals, and end-user industries at the regional and global levels.

By Process Type Outlook (Sales, USD Million, 2017-2030)

• Sodium Silicate Process
• Silica Sol Process

By Metals Outlook (Sales, USD Million, 2017-2030)

• Stainless Steel
• Steel
• Ductile Iron
• Beryllium Copper
• Aluminum
• Cobalt
• Brass
• Bronze
• Nickel

By End-User Industries Outlook (Sales, USD Million, 2017-2030)

• Aerospace
• Automotive
• Oil and Gas
• Chemical Industry
• Food Industry
• Medical
• Power
• Dentistry
• Tools
• Pharmaceutical
• Hoisting

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The Aerospace segment is projected to account for the largest market share by end-user industries

Based on end-use industries, the global lost wax casting market is divided into aerospace, automotive, oil and gas, chemical industry, food industry, medical, power, dentistry, tools, pharmaceutical, and hoisting. Among these segments, the aerospace industry accounts for the major market share in 2021. As the lost wax casting is essential in the construction of airplanes and spacecraft. Parts produced by lost wax casting are found in every portion of space and commercial flight vehicles, from the bearings that open the doors to essential parts of engines. Such factors fuel the segmental growth of the market.

Asia Pacific accounts for the highest CAGR during the forecast period

On the regional basis, the global lost wax casting market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest market share and is estimated to hold a major market share over the forecasting period. The growth is attributed to the emerging end-user industries across the region, such as automotive, aerospace, healthcare, and others. Further, it is also used in electric vehicle part manufacturing. Such factors are paving the way for the market's growth.

Key Market Players in the Global Lost Wax Casting Market

The lost wax casting market is mildly concentrated in nature, with few numbers of global players operating in the market, such as:

• Ferralloy Inc.
• Rimer Enterprises, Inc.
• Impro Industries USA, Inc.
• Lodestar Quality LLC
• Modern Aluminum Castings Co., Inc.
• Waltek Inc.
• Bescast, Inc.
• Alcoa Corporation
• WANGUAN
• Precision Castparts CORP

Recent Developments

• In September 2021, 3D Systems introduced VisiJet Wax Jewel Red. VisiJet Wax Jewel Red is the 3D Systems innovation to advance applications for jewelry manufacturing. The complete solution was developed to produce jewelry casting patterns that integrate into standard lost wax casting processes and deliver high-quality, reliable output every time.
• In June 2021, Voxeljet collaborated with AGC Ceramics Co., Ltd (AGCC) and announced the development of new ceramic material for the 3D printing of investment casting shells and cores.

Key Issues Addressed

• What is the market size by various segmentation of the lost wax casting by region and its respective countries?
• What is the customer buying behavior, key takeaways, and Porter's five forces of the lost wax casting market?
• What are the key opportunities and trends for manufacturers involved in the lost wax casting supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of lost wax casting in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.